Click here to close now.

Welcome!

Microsoft Cloud Authors: Elizabeth White, Liz McMillan, Pat Romanski, Jaynesh Shah, Carmen Gonzalez

News Feed Item

Neovasc Inc. reports financial results for third quarter of 2012

--41% Year-Over-Year Revenue Increase for the Quarter-- 
--Neovasc Reducer and TiaraTranscatheter Mitral Valve Data Presented at TCT 2012-- 

TSX Venture Exchange: NVC

VANCOUVER, Nov. 26, 2012 /PRNewswire/ - Neovasc Inc. (TSXV: NVC) today announced financial results for the three months ended September 30, 2012.

"In the third quarter, we continued to report robust increases in sales, with revenues for the quarter topping two million dollars," commented Alexei Marko, CEO of Neovasc.  "The increase in revenues reflected gains in sales of our surgical tissue products, while our contract manufacturing and consulting services businesses also turned in steady performances in the quarter."

Mr. Marko continued, "After the close of the quarter, we announced an agreement to sell certain manufacturing rights to our surgical tissue product line to our distribution partner LeMaitre Vascular for US$4.6 million. The capacity freed up through the sale of the surgical tissue product line will allow us to focus on the production of customized biological tissue and the contract manufacture of tissue-based cardiovascular devices, and we foresee this business continuing to grow strongly into 2014."

During the quarter, positive acute results from preclinical studies of the Tiara™ transcatheter mitral valve were published in the Journal of the American College of Cardiology.  In October, the Tiara program was selected as a Best New Device Concept for 2012 at the Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium.  Researchers also presented data at TCT showing that refractory angina patients implanted with the Neovasc Reducer™ device demonstrated improved clinical status and had no adverse events six months after implantation.

Mr. Marko concluded, "We expect to finish the year in a strong cash position, and these funds will enable us to continue to advance our two major new product development programs, the Neovasc Reducer and the Tiara mitral valve program, which is on track to achieve its first implantations in humans in 2013."

Results for the three and nine months ended September 30, 2012 and 2011 follow:

Revenues
Revenues increased 41% year-over-year to $2,005,940 for the three months ended September 30, 2012, compared to revenues of $1,426,047 for the same period in 2011. Revenues increased 54% year-over-year to $5,353,539 for the nine months ended September 30, 2012 compared to revenues of $3,475,372 for the same period in 2011.

Product sales for the three months ended September 30, 2012 were $946,117, compared to $391,197 in the same period of 2011, representing an increase of 142%.  Product sales for the nine months ended September 30, 2012 were $2,397,985, compared to $1,120,290 in the same period of 2011, representing an increase of 114%.  The increase in product sales primarily reflects higher demand from LeMaitre Vascular, Inc. ("LeMaitre"), who distributes the Company's surgical strips and patches and is achieving higher penetration in both the North American and European markets.  On October 31, 2012, Neovasc finalized its agreement with LeMaitre allowing LeMaitre to exercise its option to purchase certain specific rights to Neovasc's biological vascular surgical patch product technology on an accelerated basis, at an agreed price of US$4.6 million. Under the terms of the amended agreement, Neovasc has received US $4.255 million from LeMaitre, with the balance payable one year after closing.  Neovasc will continue to supply LeMaitre with surgical patches until LeMaitre is able to receive appropriate regulatory approvals and start manufacture of the surgical patches themselves, anticipated towards the end of 2013.  At that time, Neovasc will cease manufacture of all surgical patches.

Contract manufacturing revenues for the three months ended September 30, 2012 were $527,557, compared to $528,467 in the same period in 2011.  Contract manufacturing revenues were $1,327,363 for the nine months ended September 30, 2012, compared to $1,053,678 in the same period of 2011, representing an increase of 26%. The increase in contract manufacturing revenues reflects the Company's success in attracting more contract manufacturing customers as well as larger orders from existing customers as they advance their new product development programs.

Revenues from consulting services for the three months ended September 30, 2012 were $532,266, compared to $506,383 in the same period in 2011, representing an increase of 5%.  Revenues from consulting services for the nine months ended September 30, 2012 were $1,628,191, compared to $1,301,404 in the same period in 2011, representing an increase of 25%.  The Company's consulting service revenues are contract-driven and they can fluctuate from quarter to quarter and year to year as current projects are completed and new projects start.  The Company hopes and anticipates that it will be able to convert more of its current consulting services customers, who are currently in product development and clinical trials into contract manufacturing customers as each customer commercializes its own products, but this process is dependent on the success of our existing customers and revenues are therefore difficult to project.

Cost of Goods Sold
The cost of goods sold for the three and nine months ended September 30, 2012 were $1,275,096 and $3,149,177, respectively, as compared to $936,879 and $2,013,612 for the same periods in 2011.  The overall gross margin was 36% and 41% for the three and nine months ended respectively, compared to 34% and 42% gross margin for the same periods in 2011.  The Company has incurred one-time additional set up costs as it transitions away from surgical patch manufacture into contract manufacture of transcatheter valves and other similar cardiovascular devices with limited current revenues to offset such costs.

Expenses
Total expenses for the three and nine months ended September 30, 2012 were $1,927,980 and $6,177,748, respectively, as compared to $1,450,773 and $4,374,776 for the same periods in 2011, representing an increase of $477,207 and $1,802,972 or 33% and 41%, respectively.  Of these increases, non-cash share-based payments account for an increase of $117,749 and $590,026 for the three and nine months, respectively.  In 2011 and 2012, the officers and directors of Neovasc were awarded a fixed number of options under the Company's established remuneration and incentive plans.  While the actual number of options granted in each year was equivalent, under the Black Scholes model used to value the options, the higher price of the Company's shares in 2012 produced a higher overall valuation of the options issued, and therefore resulted in a higher non-cash charge to the income statement in 2012.  Net of these non-cash share-based payments, total expenses increased $359,458 and $1,212,946 for the three and nine months, respectively, substantially due to an increase of $284,848 and $951,038, respectively, in clinical trial and product development expenses for the Company's two new product development programs and an increase of $73,392 and $253,262, respectively, in general and administrative expenses as corporate and strategic activities accelerate in line with revenue growth and product development advancements.

Selling expenses for the three and nine months ended September 30, 2012 were $40,503 and $132,513, respectively, as compared to $48,154 and $145,242 for the same periods in 2011.  The Company is continuing to maintain relatively constant and modest selling and marketing costs while it focuses on growing its business-to-business revenue streams.

General and administrative expenses for the three and nine months ended September 30, 2012 were $937,202 and $3,094,474, respectively, as compared to $774,829 and $2,337,821 for the same periods of 2011, representing an increase of $162,373 and $756,653 or 21% and 32%, respectively.  The increase in general and administrative expenses was primarily due to an increase of $78,485 and $477,309 in non-cash share-based payments for the three and nine months, respectively, and an increase of $73,392 and $253,262, respectively, in other expenses as corporate and strategic activities accelerate in line with revenue growth and product development advancements.

Product development and clinical trial expenses for the three and nine months ended September 30, 2012 were $950,275 and $2,950,761, respectively, as compared to $627,790 and $1,891,713 for the same periods in 2011, representing an increase of $322,485 and $1,059,048 or $51% and 56%, respectively.  The increase in product development and clinical trial expenses was primarily due to an increase of $37,973 and $107,765 in non-cash share-based payments for the three and nine months, respectively, and an increase of $284,848 and $951,038, respectively, in other expenses as the Company invested in its two major new product initiatives:  the COSIRA clinical trial for the Reducer and the preclinical Neovasc Tiara mitral valve development program.

Loss
The losses for the three and nine months ended September 30, 2012 were $1,206,914 and $3,988,560, respectively, or $0.03 and $0.09 basic and diluted loss per share, as compared with a loss of $891,507 and $2,880,746 or $0.02 and $0.07 basic and diluted loss per share for the comparable periods in 2011.  The Company has successfully increased its gross profit for the three and nine months ended September 30, 2012 in comparison to the same periods in 2011.  However, during the same periods the Company increased its expenditures on research and development for its products by more than the increase in gross profit, resulting in an overall increase in losses for the three and nine months ended September 30, 2012, in comparison to the same periods in 2011.

Liquidity and Capital Resources
Neovasc finances its operations and capital expenditures with cash generated from operations, lines of credit, long-term debt and equity financings.  At September 30, 2012, the Company had cash and cash equivalents of $2,029,241, as compared to cash and cash equivalents of $2,404,510 at December 31, 2011.

Cash used in operating activities for the three and nine months ended September 30, 2012 was $445,147 and $1,673,554, respectively, as compared to $1,049,561 and $1,980,818 for the same periods in 2011.  The decrease in cash used in the three and nine months ended September 30, 2012 compared to the same periods of 2011 is principally due to an increase in operating expenses offset by an increase in cash generated by working capital items.  For the three and nine months ended September 30, 2012, operating expenses were $596,118 and $2,034,061, respectively, compared to $415,027 and $1,556,101 for the same periods in 2011, as more expenses were incurred in research and development activities, and working capital items generated cash of $147,605 and $340,724, respectively, compared to working capital items absorbing cash of $631,562 and $415,972, respectively, for the same periods in 2011 as accounts payable provided funding in 2012.

During the three months ended September 30, 2012 a $1,504,258 investment in GICs maturing on October 15, 2012 was re-classified as cash equivalents.  Net cash invested in capital assets was $39,872 and $232,313 for the three and nine months ended September 30, 2012, respectively, compared to net cash invested in capital assets of $35,068 and $142,474 for the same periods in 2011.  During the first nine months of 2012 and 2011, the Company continued to invest capital to expand its clean room and manufacturing facilities and research and development capabilities.

Net cash used by financing activities was $114,488 for the three months ended September 30, 2012 and net cash provided by financing activities was $26,308 for the nine months ended September 30, 2012, compared to cash provided by financing activities of $4,625,535 and $4,610,937 for the same periods of 2011. During the three months ended September 30, 2012, the Company paid off its bank overdraft and in addition, the liquid security agreement on long-term debt was removed and the restricted cash of US$40,000 was released.

On October 31, 2012, Neovasc finalized its agreement with LeMaitre allowing LeMaitre to exercise its option to purchase certain specific rights to Neovasc's biological vascular surgical patch product technology on an accelerated basis, at an agreed price of US$4.6 million. Under the terms of the amended agreement, Neovasc has received US $4.255 million from LeMaitre, with the balance payable one year after closing.

Interim Consolidated Statements of Financial Position (Unaudited)
(Expressed in Canadian dollars) 
      September 30,
2012
  December 31,
2011
          (Audited)
ASSETS          
  Current assets          
    Cash and cash equivalents   $        2,029,241 $          2,404,510
    Investments     -   1,504,290
    Accounts receivable     770,373   735,680
    Inventory     394,522   300,773
    Prepaid expenses and other assets     53,173   23,372
  Total current assets     3,247,309   4,968,625
           
  Non-current assets          
    Property, plant and equipment     1,425,497   1,290,651
    Restricted cash and cash equivalents     -   40,840
  Total non-current assets     1,425,497   1,331,491
           
Total assets   $       4,672,806 $         6,300,116
           
LIABILITIES AND EQUITY          
  Liabilities          
  Current liabilities          
    Accounts payable and accrued liabilities   $         1,090,443 $             591,476
    Current portion of long-term debt     42,351   41,568
  Total current liabilities     1,132,794   633,044
           
  Non-current liabilities          
    Long-term debt     251,004   280,642
  Total non-current liabilities     251,004   280,642
           
  Total liabilities     1,383,798   913,686
           
  Equity          
    Share capital     70,387,129   70,220,381
    Contributed surplus     7,882,824   6,158,434
    Deficit     (74,980,945)   (70,992,385)
  Total equity     3,289,008   5,386,430
           
Total liabilities and equity   $        4,672,806 $          6,300,116




Interim Consolidated Statements of Comprehensive Loss (Unaudited)
For the three and nine months ended September 30,
(Expressed in Canadian dollars)
    Three months ended
September 30,
  Nine months ended
September 30,
    2012   2011   2012   2011
                 
REVENUE                
Product sales $          946,117 $       391,197 $   2,397,985 $   1,120,290
Contract manufacturing   527,557   528,467   1,327,363   1,053,678
Consulting services   532,266   506,383   1,628,191   1,301,404
    2,005,940   1,426,047   5,353,539   3,475,372
                 
COST OF GOODS SOLD   1,275,096   936,879   3,149,177   2,013,612
GROSS PROFIT   730,844   489,168   2,204,362   1,461,760
                 
EXPENSES                
Selling expenses   40,503   48,154   132,513   145,242
General and administrative expenses   937,202   774,829   3,094,474   2,337,821
Product development and clinical trials expenses   950,275   627,790   2,950,761   1,891,713
    1,927,980   1,450,773   6,177,748   4,374,776
                 
OPERATING LOSS   (1,197,136)   (961,605)   (3,973,386)   (2,913,016)
                 
OTHER INCOME/(EXPENSE)                
Interest income   5,950   8   27,783   240
Interest expense   (2,584)   (2,980)   (8,000)   (8,985)
(Loss)/Gain on foreign exchange   (13,144)   73,070   (34,957)   41,015
    (9,778)   70,098   (15,174)   32,270
                 
LOSS AND COMPREHENSIVE LOSS FOR THE PERIOD $   (1,206,914) $   (891,507) $ (3,988,560) $ (2,880,746)
                 
LOSS PER SHARE                
Basic and diluted loss per share $             (0.03) $          (0.02) $          (0.09) $          (0.07)




Interim Consolidated Statements of Cash Flows (Unaudited)
For the three and nine months ended September 30,
(Expressed in Canadian dollars)
    Three months ended
September 30,
  Nine months ended
September 30,
    2012   2011   2012   2011
                 
OPERATING ACTIVITIES                
Loss for the period $ (1,206,914) $ (891,507) $ (3,988,560) $ (2,880,746)
Adjustments for:                
  Depreciation   36,704   24,577   97,467   68,804
  Share-based payments   577,458   448,931   1,876,815   1,247,096
  Interest income   (5,950)   (8)   (27,783)   (240)
  Interest expense   2,584   2,980   8,000   8,985
    (596,118)   (415,027)   (2,034,061)   (1,556,101)
                 
Net change in non-cash working capital items:                
  Accounts receivable   (234,820)   (538,361)   (34,693)   (260,801)
  Inventory   125,798    240,344   (93,749)   (26,925)
  Prepaid expenses and other assets   496   (8,434)   (29,801)   (21,048)
  Accounts payable and accrued liabilities   256,131   (325,111)   498,967   (107,198)
    147,605   (631,562)   340,724   (415,972)
                 
Interest paid and received:                
  Interest received   5,950   8   27,783   240
  Interest paid   (2,584)   (2,980)   (8,000)   (8,985)
    3,366   (2,972)   19,783   (8,745)
                 
    (445,147)   (1,049,561)   (1,673,554)   (1,980,818)
                 
INVESTING ACTIVITES                
  Decrease in investments   1,504,258   -   1,504,290   -
  Purchase of property, plant and equipment   (39,872)   (35,068)   (232,313)   (142,474)
    1,464,386   (35,068)   1,271,977   (142,474)
                 
FINANCING ACTIVITIES                
  Decrease in bank overdraft   (145,927)   (48,649)   -   (213,280)
  Decrease/(increase) in restricted cash & cash equivalent   41,040   (2,984)   40,840   8,444
  Repayment of long-term debt   (9,701)   (9,306)   (28,855)   (27,871)
  Proceeds from share issue, net of cost of $42,864   -   4,682,393   -   4,682,393
  Proceeds from exercise of warrants   -   -   -   130,517
  Proceeds from exercise of options   100   4,081   14,323   30,734
    (114,488)   4,625,535   26,308   4,610,937
                 
NET CHANGE IN CASH AND CASH EQUIVALENTS   904,751   3,540,906   (375,269)   2,487,645
                 
CASH AND CASH EQUIVALENTS                
Beginning of the period   1,124,490   435,766   2,404,510   1,489,027
End of the period $    2,029,241 $    3,976,672 $    2,029,241 $   3,976,672
                 



About Neovasc Inc.
Neovasc Inc. is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products include the Neovasc Reducer™ for the treatment of refractory angina, the Tiara™ device in development for the transcatheter treatment of mitral valve disease and a line of advanced biological tissue products that are used as key components in a variety of third-party medical products, such as transcatheter heart valves. For more information, visit: www.neovasc.com.

Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which the Company operates; history of losses and lack of and uncertainty of revenues, ability to obtain required financing, receipt of regulatory approval of product candidates, ability to properly integrate newly acquired businesses, technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; liability and other claims asserted against the Company; and other factors referenced in the Company's filings with Canadian securities regulators. Although the Company believes that expectations conveyed by the forward-looking statements are reasonable based on the information available to it on the date such statements were made, no assurances can be given as to the future results, approvals or achievements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not assume the obligation to update any forward-looking statements except as otherwise required by applicable law.

SOURCE Neovasc Inc.

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 BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust IT industrialization – allowing customers to provide amazing user experiences with optimized IT per...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it!
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
ThingsExpo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, ThingsExpo sessions, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all DevOps, Containers and Microservices sessions as well. Registration page is located at the ThingsExpo site.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The only place to be Nov 3-5 is Cloud Expo | @ThingsExpo | DevOps Summit 2015 West at the Santa Clara Convention Center in Santa Clara, CA. 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 and DevOps 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...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
“Connect2Me is basically a game changer in the IoT industry. We have created IoT connecter middleware that can enable a connection to any kind of device," explained Yasser Khan, CTO of Connect2Me, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable older adults to live independent lives while staying connected to loved ones. M2M will continue to gr...
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
DevOps Summit at Cloud Expo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, @DevOpsSummit sessions at Cloud Expo, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all Containers and Microservices sessions. Registration page is located at the DevOps Summit site. Your DevOps Summit registratio...
SYS-CON Events announced today that MediaTek Labs will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. MediaTek Labs is a global ecosystem initiative supporting Wearables and Internet of Things device creation, application development, and services based around MediaTek chipset offerings. Developers can use the MediaTek LinkIt™ ONE development platform and the LinkIt ONE HDK to easily access the features and functions of the MediaTek MT2502 System on a Chip (SoC), with the goal of creating the next generation of MediaTek p...
Imagine a world where targeting, attribution, and analytics are just as intrinsic to the physical world as they currently are to display advertising. Advances in technologies and changes in consumer behavior have opened the door to a whole new category of personalized marketing experience based on direct interactions with products. The products themselves now have a voice. What will they say? Who will control it? And what does it take for brands to win in this new world? In his session at @ThingsExpo, Zack Bennett, Vice President of Customer Success at EVRYTHNG, will answer these questions a...
The basic integration architecture, as defined by ESBs, hasn’t changed for more than a decade. Most cloud integration providers still rely on an ESB architecture and their proprietary connectors. As a result, enterprise integration projects suffer from constraints of availability and reliability of these connectors that are not re-usable across other integration vendors. However, the rapid adoption of APIs and almost ubiquitous availability of APIs amongst most SaaS and Cloud applications are rapidly redefining traditional integration approaches and their reliance on proprietary connectors. ...
SYS-CON Events announced today that O'Reilly Media has been named “Media Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurring their adoption by amplifying "faint signals" from the alpha geeks who are creating the future. An active participa...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.