Welcome!

.NET Authors: Jim Kaskade, Adine Deford, TJ Randall, Sandi Mappic, Ivan Antsipau

News Feed Item

ICL Reports Financial Results for the Third Quarter of 2012

TEL AVIV, Israel, November 21, 2012 /PRNewswire/ --

  • ICL's Leading Market Positions & Balanced Portfolio Continue to Counterbalance External Headwinds
  • Q3'12 Revenues Down $9M Compared with Q3'11 Before Exchange Rate Fluctuations, Which Accounted for $72M
  • In Contrast to Low Demand in World Potash Markets, ICL Fertilizers' Q3 Potash Shipments Were Similar to Their Level in Q3'11
  • Weak Global Economic Environment Impacting ICL-IP & ICL-PP Less Than In Previous Cycles

ICL (TASE:ICL), a multinational fertilizer and specialty chemicals company, today reported its financial results for the third quarter ended September 30, 2012.

Mr. Stefan Borgas, ICL's CEO since September 20, 2012, commented: "Despite the challenging global economic environment, ICL continues to demonstrate resilience due to its numerous leading market positions and a balanced portfolio that counterbalances low economic growth. The products that we manufacture for the agriculture, food, water and materials markets are an answer to the essential, fundamental requirements of the world's growing population. ICL develops products and processes that will enable it to grow and strengthen the contribution that it makes to consumers in these critical areas."

Financial Results

Revenues: ICL's revenues for the third quarter of 2012 totaled $1,817.5 million, an $81 million decline compared with $1,898.3 million in the third quarter of 2011. The decrease was due primarily to the impact of unfavorable exchange rate fluctuations, which accounted for approximately $72 million of the difference. The Company's revenues during the quarter were enhanced by the consolidation of companies acquired during the past 12 months.

For the nine-month period, sales totaled $5,334.2 million compared with $5,355.5 million in the first nine months of 2011, a decline of approximately $21 million. Excluding the impact of unfavorable exchange rate fluctuations (primarily the Euro/dollar exchange rate), which reduced revenues by approximately $155 million, the Company's sales for the quarter would have risen by $134 million for the nine-month period. This reflected the rise of prices, on average, and the stable quantities sold, coupled with the contribution of newly-consolidated companies acquired during the past 12 months.

Gross profit: Gross profit for the third quarter totaled $786.0 million compared with $871.4 million in the third quarter of 2011. The decline reflected the period's lower sales, coupled with the impact of increased raw material, energy and other costs. Gross margin for the period was 43.2% compared with 45.9% for the third quarter of 2011.

For the nine-month period, gross profit totaled $2,250.1 million, a 5% decline compared with $2,380.2 million in the first nine months of 2011. Gross margin for the period was 42.2% compared with 44.4% for the first nine months of 2011.

Operating income: Operating income for the third quarter of 2012 was $487.9 million compared with $556.2 million for the third quarter of 2011. For the nine-month period, operating income totaled $1,382.5 million, a 5% decline compared with $1,459.5 million in the first nine months of 2011. The decrease derived from the reduction in the gross margin, countered partially by reduced sales, marketing and administrative expenses.

Net income: Net income to shareholders for the third quarter of 2012 totaled $394.8 million compared with $436.3 million in the parallel period of 2011. For the nine-month period, net income to shareholders totaled $1,091.0 million compared with $1,142.2 million in the first nine months of 2011.

Cash flow: During the third quarter of 2012, operating cash flow totaled $680.1 million, a 36% increase compared with $498.8 million in the third quarter of 2011. For the nine-month period, cash flow totaled $1,317.7 million, an increase of 42% compared with $925.0 million for the first nine months of 2011.

Outlook:

  • The continued decline of global grain stock-to-use ratios to historically low levels, as predicted by the U.S. Department of Agriculture, and other indicators point to a market environment that will support strong sales of fertilizers in the 2013 planting season.
  • The completion of potash deliveries under the framework of existing contracts signed with customers in India and China, coupled with the delay of new contract renewals with these customers, is expected to reduce potash shipments during the fourth quarter as compared with the fourth quarter of 2011.
  • ICL continues manufacturing potash at its normal rate, benefiting from its strategic ability to store very large quantities of potash outdoors.
  • Due to the decrease in demand for flame retardants during the third quarter, production was halted at one of ICL Industrial Products' production units. This shutdown is expected to continue into the fourth quarter.
  • Due to the seasonality of ICL Performance Products' sales of some of its products, especially its fire safety products, and the general holiday-related slowdown of sales in December, the fourth quarter is generally characterized by lower profit margins.

Highlights of Core Business Segments

 

  • ICL Fertilizers: The segment's sales for the third quarter of 2012 totaled $1.1 billion, representing 55.7% of total revenues (before offsets of inter-segment sales), a decline of approximately 5% compared with Q3 2011. This moderate decline during a period of low overall potash demand reflected primarily the impact of unfavorable exchange rate fluctuations, as explained above, and the segment's strong potash sales to Indian and Brazilian customers during the quarter, which compensated for weak sales to customers in China and other markets. During the third quarter and also in October 2012, the Company's potash deliveries to India that had been called for under the framework of supply agreements signed during the second half of 2011 (but that had been delayed beyond the original agreed-upon dates) were completed.

Despite declining world sales of potash during the quarter, the segment sold 1,390 thousand tons of potash (including internal sales) during the third quarter of 2012, a quantity that was almost unchanged from that sold during the third quarter of 2011. However, the completion of existing contracts coupled with delayed renewals of contracts in India and China is expected to reduce the Company's Q4 2012 potash shipments as compared with Q4 2011. The quantity of phosphate fertilizers sold during Q3 2012 totaled 458 thousand tons compared with 456 tons in Q3 2011.

For the nine-month period, sales totaled $3.1 billion, representing 55.1% of total revenues (before offsets of inter-segment sales), a 1% increase compared with the first nine months of 2011. The increase derived from a rise in the segment's prices, on average, during the year, together with the consolidation, for the first time, of companies acquired during the past 12 months. This was countered partially by unfavorable fluctuations of key exchange rates, as explained above, and reduced quantities sold during the period. During the period, the Company sold 3,821 thousand tons of potash (including internal sales) and 1,298 thousand tons of phosphate fertilizers.

ICL Fertilizers' operating income for the third quarter of 2012 totaled $367 million, representing an operating margin of 34%. For the nine-month period, operating income totaled $1,019 million, representing an operating margin of 33%.

Fertilizer market trends: World potash markets during Q3 2012 exhibited low demand as compared with Q3 2011. This decline derived primarily from delays in the renewal of potash supply agreements with China and India, Europe's ongoing financial crisis and droughts in North America. In contrast, Brazil exhibited strong demand for potash, with the total quantities imported during the first nine months of 2012 nearly reaching the record levels recorded in 2011.

In India, demand for phosphate fertilizers has begun to decline due to reduced government subsidies, which result in increased fertilizer prices to the end-user, together with the devaluation of the Indian rupee as compared with the U.S. dollar, and the delay of the monsoon season. During the last several weeks, the rainy season has begun, resulting in an increase in fertilizer demand and a stabilization of the market.

In October 2012, the US Department of Agriculture published its 2012/13 Agricultural Outlook, and once again reduced its forecast regarding the quantity of crops expected to be harvested due to the year's hot and dry weather, the severe draught in U.S. growing regions and dryer-than-normal weather in Russia, the Ukraine and Kazhakstan. These developments have led to continued rises in the prices of corn, wheat and soy and a further decline in grain stock-to-use ratios, developments that are expected to improve demand for fertilizer in the next agricultural season. According to the report, the global grain stock-to-use ratio is forecast to decline to 18.5% at the end of the 2012/2013 agricultural season, compared with 20.48% at the end of the 2011/12 season and 20.7% at the end of the 2010/11 season.

  • ICL Industrial Products: The segment's sales for the third quarter of 2012 totaled $347 million, representing 18.1% of total revenues (before offsets of inter-segment sales), compared with $381 million for the third quarter of 2011. The decline reflected lower quantities sold coupled with unfavorable fluctuations in exchange rates, countered partially by increased selling prices.  For the nine-month period, sales totaled $1,110 million, a 6% decrease compared with the first nine months of 2011.

The segment's operating income for the third quarter of 2012 totaled $59 million compared with $76 million for the third quarter of 2011. The decrease in operating income derived from the reduced quantities sold, coupled with higher raw material and energy costs and unfavorable exchange rate fluctuations. For the first nine months of 2012, operating income totaled $204 million compared with $234 million in the parallel period of 2011.

Market developments: During the past year, the economic slowdown throughout the world and especially in China has led to reduced demand for the brominated flame retardants that are used in electronics and products for the building industry. In parallel, China's demand for elemental bromine has declined, leading to reduced selling prices there.

In contrast, demand for drilling fluids has been rising throughout 2012 due to an increase in the deep-water gas and oil exploration activities in the Gulf of Mexico.

  • ICL Performance Products: The segment's sales for the third quarter of 2012 totaled $416 million, representing 21.7% of total revenues (before offsets of inter-segment sales), a 3% increase compared with $403 million for the third quarter of 2011. The increase reflects higher quantities sold, coupled with the consolidation, for the first time, of companies that were acquired during the past 12 months. The increase was countered partially by the negative impact of exchange rate fluctuations, especially the Euro vs. the U.S. dollar. For the nine-month period, sales totaled $1,137 million, a 2% decrease compared with the first nine months of 2011.

The segment's operating income for the quarter totaled $60 million, a 13% increase compared with $53 million in the third quarter of 2011. The increase derived from the increased sales, countered partially by the increased costs of raw materials and energy. For the first nine months of 2012, operating income totaled $148 million compared with $166 million in the parallel period of 2011.

Market developments: During the third quarter, the trends that characterized the global market throughout the year, including the lack of certainty regarding global economic stability, political instability in the Middle East, the slow recovery of markets in the U.S., continued to affect markets for the majority of products that use the segment's offerings. In addition, the slowdown of fertilizer markets, whose by-products are raw materials for the segment's products, increased the price of the segment's inputs, primarily in Europe. However, prices of these components in the U.S. remained stable.

Dividends:

  • On April 30, 2012, the Company paid a dividend totaling $260 million in respect of its fourth quarter 2011 results. This brought the total dividend paid in respect of 2011 results to $1,053 million.
  • On June 26, 2012, the Company paid a dividend totaling $200 million in respect of its first quarter 2011 results.
  • On September 12, 2012, the Company paid a dividend totaling $285 million in respect of its second quarter 2012 results.
  • The Company's Board of Directors today declared that a dividend totaling $276 million will be paid on December 19, 2012 in respect of its third quarter 2012 results.

About ICL

ICL is one of the world's leading fertilizer and specialty chemicals companies. For a world challenged by population growth and scarce resources, ICL makes products that increase global food and water supplies and improve industrial materials and processes.

ICL produces approximately a third of the world's bromine and is the 6th largest potash producer in the world. ICL is a leading supplier of fertilizers in Europe and a major player in specialty fertilizer market segments. One of the world's most integrated manufacturers and suppliers of phosphate products, ICL has become the world's leading provider of pure phosphoric acid and a major specialty phosphate player.

ICL is comprised of three core segments: ICL Fertilizers, ICL Industrial Products and ICL Performance Products. Its major production activities are located in Israel, Europe, the US, South America and China, and are supported by major global marketing and logistics networks. ICL extracts potash, bromine, magnesium chloride and sodium chloride from Israel's Dead Sea, mines phosphate rock from Israel's Negev Desert, and mines potash and salt in Spain and the UK.

ICL's shares are traded on the Tel Aviv Stock Exchange (TASE: ICL).

Forward Looking Statement

This press release contains forward-looking assessments and judgments regarding macro-economic conditions and the Group's markets, and there is no certainty as to whether, when and/or at what rate these projections will materialize. Management's projections are likely to change in light of market fluctuations, especially in ICL's manufacturing locations and target markets.  In addition, ICL is likely to be affected by changes in the demand and price environment for its products as well as the cost of shipping and energy, whether caused by actions of governments, manufacturers or consumers. ICL can also be affected by changes in the capital markets, including fluctuations in currency exchange rates, credit availability, interest rates, etc.  

ICL

    PRINCIPAL FINANCIAL RESULTS

    THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2012

                      3 months ended September          9 months ended September
                                 30,                              30,
                         2012            2011             2012             2011
                      $      % of      $      % of      $      % of      $      % of
                   millions  sales  millions  sales  millions  sales  millions  sales
    Net Sales       1,817.5  100.0   1,898.3  100.0   5,334.2  100.0   5,355.5  100.0
    Gross profit      786.0   43.2     871.4   45.9   2,250.1   42.2   2,380.2   44.4
    Operating
    income            487.9   26.8     556.2   29.3   1,382.5   25.9   1,459.5   27.3
    Pre-tax income    477.1   26.3     542.6   28.6   1,330.2   24.9   1,410.2   26.3
    Net income to
    the
    Company's
    shareholders      394.8   21.7     436.3   23.0   1,091.0   20.5   1,142.2   21.3
    EBITDA*           561.7   30.9     631.8   33.3   1,595.5   29.9   1,661.6   31.0
    Operating cash
    flow              680.1            498.8          1,317.7            925.0
    Investment in
    property,
    plant and
    equipment less
    grants
    received          192.2            156.4            522.0            360.8


* EBITDA is calculated as follows:

                          3 months ended Sept. 30,   9 months ended Sept. 30,
                              2012         2011         2012         2011
    Net income                394.8        436.3       1,091.0     1,142.2
    Amortization &
    depreciation               72.4         75.1         210.3       197.7
    Financing
    expenses, net              13.4         16.3          59.4        60.5
    Taxes on income            81.0        104.1         234.8       261.2
    Unusual or
    one-time expenses
    EBITDA                    561.7        631.7       1,595.5     1,661.6


    ICL

    PRINCIPAL RESULTS FROM CORE
    MANAGERIAL SEGMENTS

    THREE MONTHS AND NINE MONTHS ENDED
    SEPTEMBER 30, 2012

                    3 months ended September       9 months ended September
                              30,                            30,
                      2012            2011           2012            2011
                             % of             % of              % of             % of
    Sales CIF by      $      gross      $     gross      $      gross      $     gross
    segment       millions   sales  millions  sales  millions   sales  millions  sales
    ICL
    Fertilizers    1,066.3    55.7   1,126.0   56.1   3,102.4    55.1   3,063.5   54.3
    ICL
    Industrial
    Products         346.6    18.1     380.7   19.0   1,110.2    19.7   1,178.0   20.9
    ICL
    Performance
    Products         415.7    21.7     403.1   20.1   1,137.3    20.2   1,161.5   20.6
    Other and
    offsets         (11.1)            (11.5)           (15.7)            (47.5)
    Total          1,817.5           1,898.3          5,334.2           5,355.5


Note: Segment sales data and their percentage of total sales are before offsets of inter-segment sales.

                  3 months ended September 30,      9 months ended September 30,
                      2012             2011             2012             2011
    Operating              % of               % of               % of              % of
    income by      $      segment     $      segment     $      segment     $      segment
    segment     millions   sales   millions   sales   millions   sales   millions   sales
    ICL
    Fertilizers   366.9     37.0     416.3     37.0    1,018.9    33.9    1,038.8    33.9
    ICL
    Industrial
    Products       58.6     19.9      75.9     19.9      203.6    19.9      234.2    19.9
    ICL
    Performance
    Products       59.9     13.1      52.9     13.1      147.9    14.3      166.0    14.3
    Other and
    offsets         2.5               11.1                12.1               20.5
    Total         487.9              556.2             1,382.5            1,459.5


Fleisher Communications and Public Relations    
Amiram Fleisher
+972-3-6241241   
[email protected]

<end_table>

SOURCE ICL - Israel Chemicals Ltd

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accelerate their digital channels with APIs, drive partner adoption, monetize their assets, and achieve a...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
SYS-CON Events announced today that AgilePoint, the leading provider of Microsoft-centric Business Process Management software, will exhibit at SYS-CON's 2nd International @ThingsExpo which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. AgilePoint is the leading provider of Microsoft-based Business Process Management (BPM) software products, has 1,300+ on-premise and cloud deployments in 25+ countries and provides the same advanced BPM feature set as J2EE vendors like IBM and Appian for the Microsoft .NET native environment. AgilePoint customer...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at Internet of @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., will show what is needed to leverage the IoT to transform your business. He will discuss opportunities and challenges ahead for the IoT from a market and tec...
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customizable platform to easily integrate into existing software solutions, embed business logic and build s...
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, will describe an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device experiences grounded in people’s real needs and desires.
SYS-CON Events announced today that TeleStax, the main sponsor of Mobicents, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. TeleStax provides Open Source Communications software and services that facilitate the shift from legacy SS7 based IN networks to IP based LTE and IMS networks hosted on private (on-premise), hybrid or public clouds. TeleStax products include Restcomm, JSLEE, SMSC Gateway, USSD Gateway, SS7 Resource Adaptors, SIP Servlets, Rich Multimedia Services, Presence Services/RCS, Diame...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: Samsung recognizes that true, accelerated innovation cannot be driven from one source, but requires a...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: Esmeralda Swartz, CMO of MetraTech, has spent 16 years as a marketing, product management, and busin...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, will address the big issues involving these technologies and, more important, the results they will achieve. How important are public, private, and hybrid cloud to the enterprise? How does one define Big Data? And how is the IoT tying all this together?
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
SYS-CON Events announces a new pavilion on the Cloud Expo floor where WebRTC converges with the Internet of Things. Pavilion will showcase WebRTC and the Internet of Things. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices--computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridsto...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at Internet of @ThingsExpo, Andrew Bolwell, Director of Innovation for HP’s Printing and Personal Systems Group, will discuss how key attributes of mobile technology – touch input, senso...
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.