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Analog Devices Reports Fourth Quarter and Fiscal Year 2012 Results

Analog Devices, Inc. (NASDAQ: ADI), a global leader in high-performance semiconductors for signal processing applications, today announced financial results for its fiscal fourth quarter and fiscal year ended November 3, 2012.

“ADI delivered solid results for the fourth quarter, with revenue increasing by 2% and diluted EPS increasing by 4% compared to the prior quarter,” said Jerald G. Fishman, CEO. “For the year, revenue decreased 9.8% to about $2.7 billion, reflecting difficult economic conditions and prevailing global uncertainty. We nevertheless generated 65% gross margins, 31% operating margins and over $800 million, or 30% of revenue, in cash from operations for the year.”

Mr. Fishman continued, “Overall orders decreased during the quarter as customers became more cautious and continued to reduce inventories, in many cases to historically low levels. As a result, we began reducing our production levels in the fourth quarter and will reduce them further in the first quarter of fiscal 2013 to keep our inventory at appropriate levels. While this will reduce gross margins in the short term, we believe this should provide significant operating leverage when growth resumes.”

ADI also announced that the Board of Directors has declared a cash dividend of $0.30 per outstanding share of common stock. The dividend will be paid on December 18, 2012 to all shareholders of record at the close of business on December 7, 2012.

Results for the Fourth Quarter of Fiscal 2012

  • Revenue totaled $695 million
  • Gross margin was 63.8% of revenue
  • Operating margin was 31% of revenue
  • Diluted EPS was $0.58
  • Cash flow from operations was $236 million, or 34% of revenue

Results for Fiscal Year 2012

  • Revenue totaled $2.7 billion
  • Gross margin was 64.5% of revenue
  • Operating margin was 30.5% of revenue
  • Diluted EPS was $2.13
  • Cash flow from operations was $815 million, or 30% of revenue
  • Repurchases of common stock and dividend payments to shareholders totaled $505 million

Please refer to the schedules provided for a summary of revenue and earnings, selected balance sheet information, and the cash flow statement for the fourth quarter and fiscal year ended 2012, as well as the immediately prior and year-ago quarters. Additional information on revenue by end market and revenue by product type is provided on Schedules D and E. A more complete table covering prior periods is available at investor.analog.com.

Outlook for the First Quarter of Fiscal 2013

The following statements are based on current expectations. These statements are forward- looking and actual results may differ materially, as a result of, among other things, the important factors discussed at the end of this release. These statements supersede all prior statements regarding our business outlook set forth in prior ADI news releases, and ADI disclaims any obligation to update these forward-looking statements.

  • Revenue estimated to decrease in the range of -6% to -12%
  • Gross margin estimated to be approximately 62%
  • Operating expenses estimated to be approximately $223 million
  • Tax rate estimated to be approximately 18%
  • Diluted EPS estimated at $0.40 to $0.48

Conference Call Scheduled for 5:00 pm ET

ADI will host a conference call to discuss the fourth quarter results and short-term outlook today, beginning at 5:00 pm ET. Investors may join via webcast, accessible at investor.analog.com, or by telephone (call 706-634-7193 ten minutes before the call begins and provide the password "ADI.")

A replay will be available almost immediately after the call. The replay may be accessed for up to two weeks by dialing 855-859-2056 (replay only) and providing the conference ID:68650785, or by visiting investor.analog.com.

Non-GAAP Financial Information

This release includes non-GAAP financial measures that are not in accordance with, nor an alternative to, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles.

Schedule F of this press release provides the reconciliation of the Company’s non-GAAP measures to its GAAP measures.

Manner in Which Management Uses the Non-GAAP Financial Measures

Management uses non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margins, and non-GAAP diluted earnings per share to evaluate the Company’s operating performance from continuing operations against past periods and to budget and allocate resources in future periods. These non-GAAP measures also assist management in understanding and evaluating the Company’s operating results and trends in the Company’s business.

Economic Substance Behind Management’s Decision to Use Non-GAAP Financial Measures

The items excluded from the non-GAAP measures were excluded because they are of a non-recurring or non-cash nature.

The following item is excluded from our non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margin, and non-GAAP diluted earnings per share:

Restructuring-Related Expenses. These expenses are incurred in connection with facility closures, consolidation of manufacturing facilities, and other cost reduction efforts. Apart from ongoing expense savings as a result of such items, these expenses and the related tax effects have no direct correlation to the operation of our business in the future.

The following item is excluded from our non-GAAP diluted earnings per share:

Tax-Related Items. In the first quarter of fiscal year 2011, the Company recorded a $13 million tax benefit related to taxes that are one-time in nature. These one-time tax items included the reinstatement of the R&D tax credit in December 2010, retroactive to January 1, 2010; a reduction in a state tax credit valuation reserve we had recorded in prior years; and a benefit from the increase to the Irish deferred tax asset as a result of the increase in the Irish manufacturing tax rate from 10% to 12.5%. In the second quarter of fiscal 2011, the Company recorded a one-time $10.8 million tax benefit for a settlement with the Internal Revenue Service related to certain tax matters for the fiscal 2004 through fiscal 2007 tax years. We excluded these tax-related items from our non-GAAP measures because they are not associated with the tax expense on our current operating results.

In the third quarter of fiscal 2012, the Company recorded a one-time $3.4 million tax benefit related to the release of a tax reserve for an expired tax year. We excluded this tax-related item from our non-GAAP measures because it is not associated with the tax expense on our current operating results.

Why Management Believes the Non-GAAP Financial Measures Provide Useful Information to Investors

Management believes that the presentation of non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margins, and non-GAAP diluted EPS is useful to investors because it provides investors with the operating results that management uses to manage the Company.

Material Limitations Associated with Use of the Non-GAAP Financial Measures

Analog Devices believes that non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margins, and non-GAAP diluted EPS have material limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures. In addition, our non-GAAP measures may not be comparable to the non-GAAP measures reported by other companies. The Company’s use of non-GAAP measures, and the underlying methodology when excluding certain items, is not necessarily an indication of the results of operations that may be expected in the future, or that the Company will not, in fact, record such items in future periods.

Management’s Compensation for Limitations of Non-GAAP Financial Measures

Management compensates for these material limitations in non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margins, and non-GAAP diluted EPS by also evaluating our GAAP results and the reconciliations of our non-GAAP measures to the most directly comparable GAAP measures. Investors should consider our non-GAAP financial measures in conjunction with the corresponding GAAP measures.

About Analog Devices

Innovation, performance, and excellence are the cultural pillars on which Analog Devices has built one of the longest standing, highest growth companies within the technology sector. Acknowledged industry-wide as the world leader in data conversion and signal conditioning technology, Analog Devices serves over 60,000 customers, representing virtually all types of electronic equipment. Analog Devices is headquartered in Norwood, Massachusetts, with design and manufacturing facilities throughout the world. Analog Devices' common stock is included in the S&P 500 Index.

This release may be deemed to contain forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, our statements regarding expected revenue, earnings per share, operating expenses, gross margin, tax rate, and other financial results, expected production and inventory levels, expected market trends, and expected customer demand and order rates for our products, that are based on our current expectations, beliefs, assumptions, estimates, forecasts, and projections about our business and the industry and markets in which Analog Devices operates. The statements contained in this release are not guarantees of future performance, are inherently uncertain, involve certain risks, uncertainties, and assumptions that are difficult to predict, and do not give effect to the potential impact of any mergers, acquisitions, divestitures, or business combinations that may be announced or closed after the date hereof. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements, and such statements should not be relied upon as representing Analog Devices’ expectations or beliefs as of any date subsequent to the date of this press release. We do not undertake any obligation to update forward-looking statements made by us. Important factors that may affect future operating results include: sovereign debt issues globally, any faltering in global economic conditions or the stability of credit and financial markets, erosion of consumer confidence and declines in customer spending, unavailability of raw materials, services, supplies or manufacturing capacity, changes in geographic, product or customer mix, adverse results in litigation matters, and other risk factors described in our most recent filings with the Securities and Exchange Commission. Our results of operations for the periods presented in this release are not necessarily indicative of our operating results for any future periods. Any projections in this release are based on limited information currently available to Analog Devices, which is subject to change. Although any such projections and the factors influencing them will likely change, we will not necessarily update the information, as we will only provide guidance at certain points during the year. Such information speaks only as of the original issuance date of this release.

Analog Devices and the Analog Devices logo are registered trademarks or trademarks of Analog Devices, Inc. All other trademarks mentioned in this document are the property of their respective owners.

Analog Devices, Fourth Quarter, Fiscal 2012
                     

Schedule A

Revenue and Earnings Summary (GAAP)
(In thousands, except per-share amounts)
 
                     
Three Months Ended Twelve Months Ended
4Q 12 3Q 12 4Q 11 FY 12 FY 11
       

Nov. 3,
2012

   

Aug. 4,
2012

   

Oct. 29,
2011

Nov. 3,
2012

   

Oct. 29,
2011

Revenue $ 694,964 $ 683,026 $ 716,134 $ 2,701,142 $ 2,993,320
Year-to-year change -3 % -10 % -7 % -10 % 8 %
Quarter-to-quarter change 2 % 1 % -6 %
Cost of sales (1)         251,682         235,152         255,620     960,141         1,006,779  
Gross margin 443,282 447,874 460,514 1,741,001 1,986,541
Gross margin percentage 63.8 % 65.6 % 64.3 % 64.5 % 66.4 %
Year-to-year change (basis points) -50 -160 -270 -190 120
Quarter-to-quarter change(basis points)         -180         40         -290          
Operating expenses:
R&D (1) 130,394 129,694 123,889 512,003 505,570
Selling, marketing and G&A (1) 97,609 99,873 99,094 396,519 406,707
Special charges         -         5,836         2,239     8,431         2,239  
Total operating expenses 228,003 235,403 225,222 916,953 914,516
Total operating expenses percentage 32.8 % 34.5 % 31.4 % 33.9 % 30.6 %
Year-to-year change (basis points) 140 400 150 330 -200
Quarter-to-quarter change (basis points)         -170         80         90          
Operating income 215,279 212,471 235,292 824,048 1,072,025
Operating income percentage 31.0 % 31.1 % 32.9 % 30.5 % 35.8 %
Year-to-year change (basis points) -190 -570 -420 -530 320
Quarter-to-quarter change (basis points)         -10         -40         -390          
Other expense         2,755         3,002         4,292     10,515         10,578  
Income before income tax 212,524 209,469 231,000 813,533 1,061,447
Provision for income taxes 33,337 39,701 47,473 162,297 200,553
Tax rate percentage         15.7 %       19.0 %       20.6 %   19.9 %       18.9 %
Income from continuing operations, net of tax         179,187         169,768         183,527     651,236         860,894  
Income from discontinued operations, net of tax         -         -         -     -         6,500  
Net income       $ 179,187       $ 169,768       $ 183,527   $ 651,236       $ 867,394  
 
Shares used for EPS - basic 300,679 298,445 298,910 298,761 299,417
Shares used for EPS - diluted 307,954 305,359 305,734 306,191 308,236
 
Earnings per share from continuing operations - basic $ 0.60 $ 0.57 $ 0.61 $ 2.18 $ 2.88
Earnings per share from continuing operations- diluted $ 0.58 $ 0.56 $ 0.60 $ 2.13 $ 2.79
 
 
Earnings per share - basic $ 0.60 $ 0.57 $ 0.61 $ 2.18 $ 2.90
Earnings per share - diluted $ 0.58 $ 0.56 $ 0.60 $ 2.13 $ 2.81
 
Dividends paid per share       $ 0.30       $ 0.30       $ 0.25   $ 1.15       $ 0.94  
 
(1) Includes stock-based compensation expense as follows:
Cost of sales $ 1,905 $ 1,871 $ 1,835 $ 7,254 $ 7,294
R&D $ 6,124 $ 5,999 $ 6,033 $ 23,169 $ 23,289
Selling, marketing and G&A $ 6,248 $ 5,921 $ 5,684 $ 23,077 $ 21,775
 
 

Analog Devices, Fourth Quarter, Fiscal 2012
           

Schedule B

Selected Balance Sheet Information (GAAP)
(In thousands)
 
4Q 12 3Q 12 4Q 11
     

Nov. 3,
2012

   

Aug. 4,
2012

   

Oct. 29,
2011

Cash & short-term investments $ 3,900,378 $ 3,765,045 $ 3,592,462
Accounts receivable, net 339,881 345,795 348,416
Inventories (1) 313,723 312,079 295,081
Other current assets       142,203       138,366       150,389
Total current assets 4,696,185 4,561,285 4,386,348
PP&E, net 500,867 490,581 478,839
Investments 30,242 29,615 29,361
Goodwill and intangible assets 312,605 308,190 287,287
Other       80,448       66,951       95,800
Total assets     $ 5,620,347     $ 5,456,622     $ 5,277,635
 
Deferred income on shipments to distributors, net $ 238,541 $ 246,674 $ 233,249
Other current liabilities 286,538 261,868 291,756
Long-term debt, non-current 807,098 842,540 871,876
Non-current liabilities 122,811 76,934 85,341
Shareholders' equity       4,165,359       4,028,606       3,795,413
Total liabilities & equity     $ 5,620,347     $ 5,456,622     $ 5,277,635
 

(1) Includes $2,517, $2,361 and $2,431 related to stock-based compensation in
4Q12, 3Q12 and 4Q11, respectively.

 
 

Analog Devices, Fourth Quarter, Fiscal 2012
                   

Schedule C

Cash Flow Statement (GAAP)
(In thousands)
 
                     
Three Months Ended Twelve Months Ended
4Q 12 3Q 12 4Q 11 FY 12 FY 11

Nov. 3,
2012

   

Aug. 4,
2012

   

Oct. 29,
2011

Nov. 3,
2012

   

Oct. 29,
2011

Cash flows from operating activities:
Net Income $ 179,187 $ 169,768 $ 183,527 $ 651,236 $ 867,394
Adjustments to reconcile net income
to net cash provided by operations:
Depreciation 27,484 27,107 28,781 109,705 116,873
Amortization of intangibles 54 56 267 128 1,346
Stock-based compensation expense 14,277 13,791 13,552 53,500 52,358
Gain on sale of business - - - - (6,500 )
Gain on sale of investments - - - (1,231 ) -
Excess tax benefit - stock options (2,678 ) (5,054 ) (7,640 ) (12,230 ) (44,936 )
Noncash portion of special charges - 219 - 219 -
Other non-cash activity (1,417 ) (1,380 ) (352 ) (3,187 ) 833
Deferred income taxes (5,696 ) 34 8,693 (9,801 ) 1,704
Changes in operating assets and liabilities       24,836         (66,835 )       3,332     26,203         (88,543 )
Total adjustments       56,860         (32,062 )       46,633     163,306         33,135  
Net cash provided by operating activities       236,047         137,706         230,160     814,542         900,529  
Percent of total revenue       34.0 %       20.2 %       32.1 %   30.2 %       30.1 %
 
Cash flows from investing activities:
Additions to property, plant and equipment, net (37,511 ) (39,239 ) (26,331 ) (132,176 ) (122,996 )
Net proceeds related to sale of businesses - - - - 10,000
Proceeds related to sale of investments - - - 1,506 -
Payments for acquisitions, net of cash acquired - - - (24,158 ) (13,988 )
Purchases of short-term available-for-sale investments (1,882,319 ) (1,854,249 ) (1,156,671 ) (8,165,043 ) (4,289,304 )
Maturities of short-term available-for-sale investments 1,713,973 1,534,235 1,101,973 6,543,795 3,436,284
Sales of short-term available-for-sale investments 99,843 76,330 23,476 437,748 282,861
(Increase) Decrease in other assets       (447 )       408         88     (1,362 )       (6,595 )
Net cash used for investing activities       (106,461 )       (282,515 )       (57,465 )   (1,339,690 )       (703,738 )
 
Cash flows from financing activities:
Proceeds from long-term debt - - - - 515,507
Term loan repayments (33,625 ) (3,625 ) (3,625 ) (56,500 ) (28,392 )
Early termination of swap agreements - - - 18,520 -
Dividend payments to shareholders (91,372 ) (89,511 ) (74,824 ) (344,701 ) (281,626 )
Repurchase of common stock (20,795 ) (17,344 ) (82,816 ) (160,536 ) (330,256 )
Net proceeds from employee stock plans 80,492 23,329 27,925 191,220 217,164
Contingent Consideration Payment - - - (1,991 ) -
(Decrease) increase in other financing activities (1,125 ) (4,755 ) 914 (7,869 ) 1,279
Excess tax benefit - stock options       2,678         5,054         7,640     12,230         44,936  
Net cash (used for) provided by financing activities       (63,747 )       (86,852 )       (124,786 )   (349,627 )       138,612  
Effect of exchange rate changes on cash       845         (1,256 )       (630 )   (1,492 )       (303 )
 
Net increase (decrease) in cash and cash equivalents 66,684 (232,917 ) 47,279 (876,267 ) 335,100
Cash and cash equivalents at beginning of period       462,149         695,066         1,357,821     1,405,100         1,070,000  
Cash and cash equivalents at end of period     $ 528,833       $ 462,149       $ 1,405,100   $ 528,833       $ 1,405,100  
 
 

Analog Devices, Fourth Quarter, Fiscal 2012
                       

Schedule D

Revenue Trends by End Market

The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the “sold to” customer information, the "ship to" customer information and the end customer product or application into which our product will be incorporated. As data systems for capturing and tracking this data evolve and improve, the categorization of products by end market can vary over time. When this occurs we reclassify revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each end market.
                               
Three Months Ended
Nov. 3, 2012

Aug. 4,
2012

Oct. 29,
2011

Revenue     %       Q/Q %     Y/Y % Revenue Revenue
Industrial $ 304,693 44 % -5 % -3 % $ 322,092 $ 315,716
Automotive 110,227 16 % -4 % -3 % 114,730 113,528
Consumer 137,620 20 % 28 % -6 % 107,848 146,221
Communications   142,424     20 % 3 % 1 %   138,356   140,669
Total Revenue $ 694,964     100 % 2 % -3 % $ 683,026 $ 716,134
 
                               
Twelve Months Ended
Nov. 3, 2012 Oct. 29,

2011

Revenue     %       Y/Y % Revenue
Industrial $ 1,240,344 46 % -12 % $ 1,411,386
Automotive 463,577 17 % 11 % 417,929
Consumer 467,626 17 % -16 % 559,142
Communications   529,595     20 % -12 %   604,863
Total Revenue $ 2,701,142     100 % -10 % $ 2,993,320
 
 

Analog Devices, Fourth Quarter, Fiscal 2012
                       

Schedule E

Revenue Trends by Product Type

The categorization of our products into broad categories is based on the characteristics of the individual products, the specification of the products and in some cases the specific uses that certain products have within applications. The categorization of products into categories is therefore subject to judgment in some cases and can vary over time. In instances where products move between product categories we reclassify the amounts in the product categories for all prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each product category.
                               
Three Months Ended
Nov. 3, 2012

Aug. 4,
2012

Oct. 29,
2011

Revenue     %       Q/Q %     Y/Y % Revenue Revenue
Converters $ 307,252 44 % 3 % -5 % $ 299,634 $ 323,291
Amplifiers / Radio Frequency 174,521 25 % -4 % -4 % 180,899 182,708
Other analog   112,083     16 % 14 % 11 %   98,269   101,176
Subtotal Analog Signal Processing   593,856     85 % 3 % -2 %   578,802   607,175
Power management & reference   45,808     7 % 1 % -14 %   45,401   53,173
Total Analog Products $ 639,664     92 % 2 % -3 % $ 624,203 $ 660,348
Digital Signal Processing   55,300     8 % -6 % -1 %   58,823   55,786
Total Revenue $ 694,964     100 % 2 % -3 % $ 683,026 $ 716,134
 
                               
Twelve Months Ended
Nov. 3, 2012 Oct. 29,

2011

Revenue     %*     Y/Y % Revenue
Converters $ 1,192,064 44 % -11 % $ 1,343,487
Amplifiers / Radio Frequency 697,687 26 % -11 % 788,299
Other analog   397,376     15 % -3 %   410,323
Subtotal Analog Signal Processing   2,287,127     85 % -10 %   2,542,109
Power management & reference $ 182,134     7 % -16 % $ 217,615
Total Analog Products   2,469,261     91 % -11 %   2,759,724
Digital Signal Processing   231,881     9 % -1 %   233,596
Total Revenue $ 2,701,142     100 % -10 % $ 2,993,320
 
* The sum of the individual percentages does not equal the total due to rounding

Analog Devices, Fourth Quarter, Fiscal 2012
                   

Schedule F

Reconciliation from Non-GAAP to GAAP Data (In thousands, except per-share amounts)
 
See "Non-GAAP Financial Information" in this press release for a description of the items excluded from our non-GAAP measures.
                     
Three Months Ended Twelve Months Ended
4Q 12 3Q 12 4Q 11 FY 12 FY 11

Nov. 3,
2012

Aug. 4,
2012

Oct. 29,
2011

Nov. 3,
2012

   

Oct. 29,
2011

 
GAAP Operating Expenses $ 228,003 $ 235,403 $ 225,222 $ 916,953 $ 914,516
Percent of Revenue 32.8 % 34.5 % 31.4 % 33.9 % 30.6 %
Restructuring-Related Expense         (5,836 )       -     (5,836 )       -  
Non-GAAP Operating Expenses $ 228,003       $ 229,567       $ 225,222   $ 911,117       $ 914,516  
Percent of Revenue 32.8 % 33.6 % 31.4 % 33.7 % 30.6 %
 
GAAP Operating Income/Margin From Continuing Operations $ 215,279 $ 212,471 $ 235,292 $ 824,048 $ 1,072,025
Percent of Revenue 31.0 % 31.1 % 32.9 % 30.5 % 35.8 %
Restructuring-Related Expense   -         5,836         -     5,836         -  
Non-GAAP Operating Income/Margin From Continuing Operations $ 215,279       $ 218,307       $ 235,292   $ 829,884       $ 1,072,025  
Percent of Revenue 31.0 % 32.0 % 32.9 % 30.7 % 35.8 %
 
GAAP Diluted EPS Including Discontinued Operations $ 0.58 $ 0.56 $ 0.60 $ 2.13 $ 2.81
Diluted Loss Per Share from Discontinued Operations - - - - 0.02
GAAP Diluted EPS From Continuing Operations $ 0.58 $ 0.56 $ 0.60 $ 2.13 $ 2.79
IRS Tax Settlement - - - - (0.04 )
Impact of the Reinstatement of the R&D Tax Credit - - - - (0.02 )
Impact of State Tax Valuation - - - - (0.02 )
Impact of Increase in Irish Tax Rate - - - - (0.00 )
Restructuring-Related Expense - 0.01 - 0.01 -
Impact of Expired Tax Statute   -         (0.01 )       -     (0.01 )       -  
Non-GAAP Diluted EPS From Continuing Operations (1) $ 0.58       $ 0.56       $ 0.60   $ 2.13       $ 2.72  
 
(1) The sum of the individual per share amounts may not equal the total due to rounding.

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The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
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SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver 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, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
“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.
SYS-CON Events announced today that IDenticard 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. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
"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.
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, 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.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, 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. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
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...
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
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 @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...