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Guess?, Inc. Reports Third Quarter Results

Q3 Fiscal 2013 EPS of $0.43, Compared to EPS of $0.71 in Q3 Fiscal 2012

LOS ANGELES, Nov. 28, 2012 /PRNewswire/ -- Guess?, Inc. (NYSE: GES) today reported financial results for its third quarter ended October 27, 2012. 

Third Quarter Fiscal 2013 Highlights

  • Consolidated revenues decreased 2% to $629 million; up 1% in constant dollars
  • Asian revenues increased 16%
  • North American Retail revenues decreased 1%; retail comp sales declined 6%
  • European revenues increased 2% in local currency; declined 8% in U.S. dollars  
  • Operating earnings decreased 40% and operating margin declined 590 basis points to 9.2%

This press release contains certain non-GAAP, or adjusted, financial measures, which exclude a settlement charge incurred during the second quarter of fiscal 2012. A reconciliation of reported GAAP results to comparable non-GAAP results is provided in the accompanying tables and discussed under the heading "Presentation of Non-GAAP Information" below.

Third Quarter Fiscal 2013 Results

For the third quarter of fiscal 2013, the Company generated net earnings of $36.6 million, a 44.7% decrease compared to net earnings of $66.3 million for the third quarter of fiscal 2012.  Diluted earnings per share decreased 39.4%, to $0.43, compared to diluted earnings per share of $0.71 for the prior-year quarter.    

Paul Marciano, Chief Executive Officer, commented, "Third quarter earnings were consistent with our guidance but fell short of our operational goals, as economic pressures impacted consumer confidence in most of our markets.  Our European business was stronger at the beginning of the quarter, though business softened toward the end of the period.  We posted solid double digit growth in Asia.  In North America, our key strategies remain relevant as we focus on driving traffic to the stores through enhanced customer engagement initiatives and elevating the brand with quality."

Mr. Marciano continued, "We do expect that the current market conditions in the global economy will continue for some time and we are more cautious on near term customer demand trends.  Accessories performance, specifically handbags and watches, have been a top priority and I am very confident of these categories going forward.  Our goal is to retain our high-quality standards.  Meanwhile, our team is focused on shortening the development cycle of a large portion of our products to a fast track calendar to deliver current trends at the right time, in addition to our iconic denim lines for men and women that we have offered for the last 30 years."

Mr. Marciano concluded, "We have a strong financial position and will run our business proactively to adapt to the existing economic climate, manage our expenses and inventories tightly and reallocate capital in growth regions of the world, specifically Eastern and Northern Europe as well as Asia.  We plan to evaluate new strategies to drive growth and profitability and improve the performance of our stores in the U.S. and in Canada.  At the same time, with our strong financial position, our goal is to focus on delivering balanced returns to our shareholders, including through our dividend and share repurchase programs."   

Total net revenue for the third quarter of fiscal 2013 decreased 2.2% to $628.8 million, from $642.8 million in the prior-year quarter.  In constant dollars, total net revenue increased 1.2%. 

  • The Company's retail stores in North America generated revenue of $262.1 million in the third quarter of fiscal 2013, a 1.3% decrease from $265.6 million in the same period a year ago.  Comparable store sales decreased 6.0% for the third quarter of fiscal 2013, compared to the same period a year ago.  The Company directly operated 513 retail stores in the United States and Canada at the end of the third quarter of fiscal 2013 versus 495 stores a year earlier.
  • Net revenue from the Company's Europe segment decreased 8.3% to $202.6 million in the third quarter of fiscal 2013, compared to $221.0 million in the prior-year period.  In local currency, net revenue increased 1.7%.
  • Net revenue from the Company's Asia segment increased 15.5% to $74.8 million in the third quarter of fiscal 2013, from $64.8 million in the prior-year period.  In constant dollars, net revenue increased 15.6%.
  • Net revenue from the Company's North American Wholesale segment increased 1.0% to $57.9 million in the third quarter of fiscal 2013, compared to $57.3 million in the prior-year period.
  • Licensing segment net revenue decreased 7.6% to $31.5 million in the third quarter of fiscal 2013, from $34.0 million in the prior-year period.

Operating earnings for the third quarter of fiscal 2013 decreased 40.1% to $58.1 million (including a $2.4 million unfavorable currency translation impact) from operating earnings of $97.0 million in the prior-year period.  Operating margin in the third quarter declined 590 basis points to 9.2%, compared to operating margin of 15.1% in the prior-year quarter.  The lower operating margin primarily reflects the impact of higher occupancy and selling costs in Europe due to retail expansion, negative same store sales on the Company's fixed cost structure and increased investments in advertising.  In addition, product margins were lower, primarily driven by promotions in North America and the effect of pricing parity changes in Canada. 

Other net expense, which primarily includes net unrealized mark-to-market losses on foreign currency contracts and balances, partially offset by net unrealized gains on non-operating assets, was $0.2 million for the third quarter of fiscal 2013.  This compares to other net income of $1.9 million in the prior-year quarter.

The Company's reported effective tax rate increased to 34.8% in the third quarter of fiscal 2013, from 32.3% for the third quarter of the prior year. 

Nine-Month Period Results

Net earnings for the nine months ended October 27, 2012 were $106.2 million, a decrease of 43.3% compared to adjusted net earnings of $187.2 million for the nine months ended October 29, 2011.  The prior-year adjusted net earnings excluded a settlement charge of $19.5 million ($17.6 million net of the related tax impact) associated with the settlement of the Company's relationship with one of its former European service providers. Diluted earnings per share declined 39.8% to $1.21 per share in the first nine months of the 2013 fiscal year compared to adjusted diluted earnings per share of $2.01 in the comparable nine-month period last year.  On a GAAP basis, for the first nine months of fiscal 2013, net earnings decreased 37.4% and diluted earnings per share decreased 33.5%.

Total net revenue for the first nine months of fiscal 2013 decreased 3.6% to $1.84 billion from $1.91 billion in the prior-year period.  In constant dollars, total net revenue increased 0.6%.

  • The Company's retail stores in North America generated revenue of $766.9 million in the first nine months of fiscal 2013, a 0.9% decrease from $774.1 million in the same period a year ago.  Comparable store sales decreased 6.3% in local currency and 6.7% in U.S. dollars for the nine months ended October 27, 2012, compared to the nine months ended October 29, 2011.
  • Net revenue from the Company's Europe segment decreased 11.2% to $639.3 million in the first nine months of fiscal 2013, compared to $720.1 million in the prior-year period.  In local currency, Europe segment revenues decreased 1.6%. 
  • Net revenue from the Company's Asia segment increased 14.6% to $206.5 million in the first nine months of fiscal 2013, compared to $180.2 million in the prior-year period.  In constant dollars the increase was 16.5%.
  • Net revenue from the Company's North American Wholesale segment decreased 2.3% to $143.4 million in the first nine months of fiscal 2013, from $146.8 million in the prior-year period.
  • Licensing segment net revenue decreased 4.0% to $87.4 million in the first nine months of fiscal 2013, from $91.0 million in the prior-year period.

Operating earnings for the first nine months of fiscal 2013 decreased 45.0% to $154.6 million (including an $8.5 million unfavorable currency translation impact) from adjusted operating earnings of $280.9 million in the prior-year period.  Operating margin for the first nine months of fiscal 2013 declined 630 basis points to 8.4% compared to adjusted operating margin of 14.7% in the prior-year period.  The decline in operating margin primarily reflects the impact of higher occupancy and selling costs in Europe, negative same store sales on the Company's fixed cost structure, and increased investments in advertising and marketing.  Product margins for the year-to-date period were lower compared to the prior-year period driven by lower margin in North American Retail and unfavorable currency impact in Europe.  GAAP operating earnings decreased 40.9% and GAAP operating margin declined 530 basis points.

Other net income, which primarily includes net unrealized mark-to-market gains on foreign currency contracts and balances, and net unrealized gains on non-operating assets, was $5.8 million for the first nine months of fiscal 2013.  This compares to other net expense of $5.4 million in the prior-year period. 

The Company's effective tax rate was 33.0% for the first nine months of both fiscal 2013 and fiscal 2012.

Outlook

The Company's expectations for the fourth quarter of fiscal 2013 ending February 2, 2013, are as follows:

  • Consolidated net revenues are expected to range from $780 million to $800 million.
  • Operating margin is expected to be between 14.5% and 15.5%.
  • Diluted earnings per share are expected to be in the range of $0.85 to $0.95.

The Company updated its outlook for the fiscal year ending February 2, 2013, which is now as follows:

  • Consolidated net revenues are expected to range from $2.62 billion to $2.64 billion.
  • Operating margin is expected to be between 10.0% and 10.5%.
  • Diluted earnings per share are expected to be in the range of $2.05 to $2.15.

Dividends

The Company also announced today that its Board of Directors has approved a quarterly cash dividend of $0.20 per share on the Company's common stock.  The Board of Directors has also approved a special cash dividend of $1.20 per share to be paid with the regular quarterly dividend.  The combined dividends will be payable on December 28, 2012 to shareholders of record at the close of business on December 12, 2012.   

Presentation of Non-GAAP Information

The financial information presented in this release includes both GAAP and non-GAAP measures.  The "non-GAAP" or "adjusted" financial measures exclude the impact of a settlement charge incurred during the second quarter of fiscal 2012. In July 2011, the Company experienced a temporary disruption in its European supply chain, related to one of its service providers.  The Company subsequently entered into an agreement to terminate the relationship with that provider, resulting in a $19.5 million settlement charge in the second quarter of fiscal 2012.

The Company has excluded this settlement charge, and related tax impact, from its adjusted financial measures primarily because it does not believe such charge reflects the Company's ongoing operating results or future outlook.  The Company believes that these adjusted financial measures are useful as an additional means for investors to evaluate the comparability of the Company's operating results when reviewed in conjunction with the Company's GAAP financial statements.  A reconciliation of reported GAAP results to comparable non-GAAP results is provided in the accompanying tables. The non-GAAP measures are provided in addition to, and not as alternatives for, the Company's reported GAAP results. 

This release also includes certain constant currency financial information.  Foreign currency exchange rate fluctuations affect the amount reported from translating the Company's foreign revenues and expenses into U.S. dollars.  These rate fluctuations can have a significant effect on reported operating results under GAAP. The Company provides constant currency information to help investors assess how our businesses performed excluding the effects of changes in foreign currency translation rates. To calculate revenues and earnings from operations on a constant currency basis, operating results for the current year period for entities reporting in currencies other than U.S. dollars are translated into U.S. dollars at the average exchange rates in effect during the comparable period of the prior year. The constant currency calculations do not adjust for the impact of revaluing specific transactions denominated in a currency that is different to the functional currency of that entity when exchange rates fluctuate.  The constant currency information presented may not be comparable to similarly titled measures reported by other companies. 

Investor Conference Call

The Company will hold a conference call at 4:30 pm (ET) on November 28, 2012 to discuss the news announced in this press release.  A live webcast of the conference call will be accessible at www.guess.com via the "Investor Relations" link.  The webcast will be archived on the website for 30 days.

About Guess?

Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, denim, handbags, watches, footwear and other related consumer products.  Guess? products are distributed through branded Guess? stores as well as better department and specialty stores around the world.  As of October 27, 2012, the Company directly operated 513 retail stores in the United States and Canada and 312 retail stores in Europe, Asia and Latin America.  The Company's licensees and distributors operated an additional 837 retail stores outside of the United States and Canada. For more information about the Company, please visit www.guess.com.

Forward Looking Statements

Except for historical information contained herein, certain matters discussed in this press release, including statements concerning the Company's strategies, goals, expectations and future prospects, as well as guidance for the fourth quarter and full year of fiscal 2013, are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements, which are frequently indicated by terms such as "expect," "will," "goal," "strategy," "believe," "continue," "outlook," "plan" and similar terms, are only expectations, and involve known and unknown risks and uncertainties, which may cause actual results in future periods to differ materially from what is currently anticipated.  Factors which may cause actual results in future periods to differ materially from current expectations include, among others: our ability to maintain our brand image and reputation; domestic and international economic conditions, including economic and other events that could negatively impact consumer confidence and discretionary consumer spending; changes in the competitive marketplace and in our commercial relationships; our ability to anticipate consumer preferences, effectively operate our various retail concepts and effectively manage inventories; our ability to successfully implement our growth strategies and to continue to expand or grow our business; unexpected obligations arising from litigation, tax and other regulatory proceedings; risks associated with our foreign operations, such as violations of laws prohibiting improper payments and the burdens of complying with a variety of foreign laws and regulations; and changes in economic, political, social and other conditions affecting our foreign operations and sourcing, including currency fluctuations, global tax rates and the current European economic crisis.  In addition to these factors, the economic, technological, managerial, and other risks identified in the Company's most recent annual report on Form 10-K and other filings with the Securities and Exchange Commission, including but not limited to the risk factors discussed therein, could cause actual results to differ materially from current expectations.  The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Guess?, Inc.


Investor Relations


(213) 765-5578

 

Guess?, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(amounts in thousands, except per share data)















Three Months Ended


Nine Months Ended


October 27,


October 29,


October 27,


October 29,


2012


2011 (2)


2012


2011 (2)


$

%


$

%


$

%


$

%

























Product sales

$ 597,374

95.0%


$ 608,777

94.7%


$ 1,756,123

95.3%


$ 1,821,198

95.2%

Net royalties

31,454

5.0%


34,026

5.3%


87,364

4.7%


91,008

4.8%

Net revenue

628,828

100.0%


642,803

100.0%


1,843,487

100.0%


1,912,206

100.0%













Cost of product sales

381,219

60.6%


367,202

57.1%


1,109,242

60.2%


1,091,119

57.1%













Gross profit 

247,609

39.4%


275,601

42.9%


734,245

39.8%


821,087

42.9%













Selling, general and administrative expenses

189,492

30.2%


178,632

27.8%


579,686

31.4%


540,193

28.3%

Settlement charge

-

0.0%


-

0.0%


-

0.0%


19,463

0.9%













Earnings from operations

58,117

9.2%


96,969

15.1%


154,559

8.4%


261,431

13.7%













Other income (expense):













Interest expense

(424)

(0.1%)


(775)

(0.1%)


(1,205)

(0.0%)


(1,539)

(0.1%)


Interest income

-

0.0%


661

0.1%


1,509

0.0%


2,433

0.1%


Other, net

(245)

(0.0%)


1,868

0.3%


5,765

0.3%


(5,437)

(0.3%)













Earnings before income taxes

57,448

9.1%


98,723

15.4%


160,628

8.7%


256,888

13.4%













Income taxes

19,989

3.1%


31,877

5.0%


53,007

2.9%


84,648

4.4%













Net earnings

37,459

6.0%


66,846

10.4%


107,621

5.8%


172,240

9.0%













Net earnings attributable to noncontrolling interests in subsidiaries

812

0.2%


551

0.1%


1,429

0.0%


2,606

0.1%













Net earnings attributable to Guess?, Inc.

$   36,647

5.8%


$   66,295

10.3%


$    106,192

5.8%


$    169,634

8.9%

























Net earnings per common share attributable to common stockholders:
















Basic

$       0.43



$       0.71



$          1.21



$          1.83















Diluted

$       0.43



$       0.71



$          1.21



$          1.82














Weighted average common shares outstanding attributable to common stockholders:
















Basic

84,408



92,011



86,857



91,835















Diluted

84,702



92,338



87,156



92,279



























Adjusted earnings from operations (1)







$    154,559

8.4%


$    280,894

14.7%














Adjusted net earnings attributable to Guess?, Inc. (1)







$    106,192

5.8%


$    187,247

9.8%














Adjusted diluted earnings per common share attributable to common stockholders (1)







$          1.21



$          2.01





























Notes:


(1)

The adjusted results reflect the exclusion of the settlement charge (and related taxes where applicable) recorded during the nine month period ended October 29, 2011. No adjustments have been made to the current-year period.  A complete reconciliation of actual results to adjusted results is presented in the table entitled "Reconciliation of GAAP Results to Adjusted Results."





(2)

For the three and nine month periods ended October 29, 2011, the Company reclassified certain distribution costs from selling, general and administrative expenses to cost of product sales to conform to current period presentation.  The reclassification had no impact on previously reported earnings from operations, net earnings or net earnings per share.


 

Guess?, Inc. and Subsidiaries

Reconciliation of GAAP Results to Adjusted Results

(amounts in thousands, except per share data)


The following table provides reconciliations of reported GAAP earnings from operations to adjusted earnings from operations and reported GAAP net earnings attributable to Guess?, Inc. to adjusted net earnings attributable to Guess?, Inc. for the nine months ended October 29, 2011.






Nine Months Ended


October 29,


2011



% of


$

Revenues




Reported GAAP earnings from operations

$   261,431

13.7%

  Add back settlement charge (1)

19,463





Adjusted earnings from operations

$   280,894

14.7%







Reported GAAP net earnings attributable to Guess?, Inc.

$   169,634

8.9%




  Add back settlement charge (1)

19,463


  Less income tax on settlement charge(2)

(1,850)


Total adjustments affecting net earnings attributable to Guess?, Inc.

17,613





Adjusted net earnings attributable to Guess?, Inc.

$  187,247

9.8%




Adjusted diluted earnings per common share attributable to common stockholders:

$        2.01








Weighted average common shares outstanding attributable to common stockholders:







Basic

91,835






Diluted

92,279












Notes:



(1)

In July 2011, the Company experienced a temporary disruption in its European supply chain, related to one of its service providers.  The Company subsequently entered into an agreement to terminate the relationship with that provider, resulting in a settlement charge in the second quarter of fiscal 2012, impacting the nine months ended October 29, 2011.  No adjustments have been made to the current-year period.  





(2)

The income tax effect of the settlement charge is based on the Company's assessment of deductibility using the statutory tax rate of the tax jurisdiction in which the charge was incurred.





 

Guess?, Inc. and Subsidiaries

Consolidated Segment Data

(dollars in thousands)













































Three Months Ended


Nine Months Ended



October 27,


October 29,


%


October 27,


October 29,


%



2012


2011


chg


2012


2011


chg














Net revenue:













Europe

$    202,594


$    221,041


-8%


$    639,326


$    720,068


-11%


North American Retail

262,064


265,637


-1%


766,874


774,147


-1%


Asia

74,838


64,782


16%


206,499


180,152


15%


North American Wholesale

57,878


57,317


1%


143,424


146,831


-2%


Licensing

31,454


34,026


-8%


87,364


91,008


-4%



$    628,828


$    642,803


-2%


$ 1,843,487


$ 1,912,206


-4%



























Earnings (loss) from operations:













Europe before settlement charge

$      14,572


$      34,152


-57%


$      51,675


$    131,014


-61%


Europe settlement charge, pre-tax

-


-




-


(19,463)




Europe including settlement charge

14,572


34,152


-57%


51,675


111,551


-54%















North American Retail

8,952


27,533


-67%


42,703


79,077


-46%


Asia

7,799


8,248


-5%


17,693


20,205


-12%


North American Wholesale

14,888


16,013


-7%


31,935


37,649


-15%


Licensing

27,103


30,698


-12%


74,558


81,188


-8%


Corporate Overhead

(15,197)


(19,675)


-23%


(64,005)


(68,239)


-6%



$      58,117


$      96,969


-40%


$    154,559


$    261,431


-41%



























Operating margins:













Europe before settlement charge

7.2%


15.5%




8.1%


18.2%




Europe including settlement charge

7.2%


15.5%




8.1%


15.5%

















North American Retail

3.4%


10.4%




5.6%


10.2%




Asia

10.4%


12.7%




8.6%


11.2%




North American Wholesale

25.7%


27.9%




22.3%


25.6%




Licensing 

86.2%


90.2%




85.3%


89.2%

















Total Company before settlement charge

9.2%


15.1%




8.4%


14.7%




Total Company including settlement charge

9.2%


15.1%




8.4%


13.7%



 

Guess?, Inc. and Subsidiaries

Selected Condensed Consolidated Balance Sheet Data

(in thousands)











October 27, 


January 28,


October 29,



2012


2012


2011








ASSETS










Cash and cash equivalents

$      287,288


$     491,805


$     426,725








Short-term investments

7,348


4,060


4,082








Receivables, net

332,440


340,602


376,502








Inventories

422,304


328,602


385,399








Other current assets

76,784


96,413


84,017








Property and equipment, net

356,396


348,885


352,514








Other assets

260,508


234,108


231,961









Total Assets

$   1,743,068


$  1,844,475


$  1,861,200















LIABILITIES AND STOCKHOLDERS' EQUITY










Current portion of borrowings and capital lease obligations

$          1,776


$         2,030


$         2,131








Other current liabilities

395,044


418,006


425,596








Capital lease obligations

8,739


10,206


11,372








Other long-term liabilities

221,373


211,675


174,519








Redeemable and nonredeemable noncontrolling interests

15,892


26,928


25,588








Guess?, Inc. stockholders' equity

1,100,244


1,175,630


1,221,994









Total Liabilities and Stockholders' Equity

$   1,743,068


$  1,844,475


$  1,861,200








 

Guess?, Inc. and Subsidiaries

Condensed Consolidated Cash Flow Data

(in thousands)











Nine Months Ended


October 27,


October 29, 


2012


2011









Net cash provided by operating activities

$       96,002


$      149,948





Net cash used in investing activities

(96,782)


(103,775)





Net cash used in financing activities

(200,150)


(52,510)





Effect of exchange rates on cash

(3,587)


6,025





Net decrease in cash and cash equivalents

(204,517)


(312)





Cash and cash equivalents at the beginning of the year

491,805


427,037





Cash and cash equivalents at the end of the period

$     287,288


$      426,725













Supplemental information:








Depreciation and amortization

$       66,280


$        59,153





Rent

$     198,997


$      184,798





 

Guess?, Inc. and Subsidiaries

Retail Store Data

International Store Count






















As of October 27, 2012


As of October 29, 2011



Total


Directly Operated


Total


Directly Operated

Region

Stores


Stores


Stores


Stores











United States and Canada

513


513


495


495











Europe and the Middle East

610


234


547


171











Asia

460


49


408


39











Central and South America

79


29


67


22












1,662


825


1,517


727



















 

Guess?, Inc. and Subsidiaries

Retail Store Data

U.S. and Canada














Nine Months Ended



October 27,


October 29,



2012


2011











Number of stores at the beginning of the year

504


481







Store openings

24


25







Store closures

(15)


(11)






Number of stores at the end of the period

513


495











Total store square footage at the end of the period

2,370,000


2,270,000











 

SOURCE Guess?, Inc.

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Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TAZMO technology and development capabilities in the semiconductor and LCD-related manufacturing fields are among the best worldwide. For more information, visit https://www.tazmo.co.jp/en/.
SYS-CON Events announced today that Avere Systems, a leading provider of hybrid cloud enablement solutions, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere Systems was created by file systems experts determined to reinvent storage by changing the way enterprises thought about and bought storage resources. With decades of experience behind the company’s founders, Avere got its ...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
Amazon is pursuing new markets and disrupting industries at an incredible pace. Almost every industry seems to be in its crosshairs. Companies and industries that once thought they were safe are now worried about being “Amazoned.”. The new watch word should be “Be afraid. Be very afraid.” In his session 21st Cloud Expo, Chris Kocher, a co-founder of Grey Heron, will address questions such as: What new areas is Amazon disrupting? How are they doing this? Where are they likely to go? What are th...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...