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SYSWIN Inc. Announces Third Quarter and First Nine Months 2012 Unaudited Financial Results

Aggregate transaction value increased by 29.1% from 3Q2011

BEIJING, Dec. 5, 2012 /PRNewswire/ -- SYSWIN Inc. (NYSE: SYSW; "SYSWIN" or the "Company"), a leading primary real estate service provider in China, today announced its unaudited financial results for the third quarter and the first nine months of 2012 ended September 30, 2012.

THIRD QUARTER 2012 FINANCIAL & OPERATION SUMMARY:

  • Aggregate gross floor area ("GFA") of properties sold increased 20.9% from 3Q2011 to 1,733,000 square meters and aggregate transaction value of properties sold increased 29.1% from 3Q2011 to RMB21.2 billion
  • Net revenue increased 9.0% from 3Q2011 to RMB167.5 million
  • Gross profit increased 19.5% from 3Q2011 to RMB80.6 million
  • Income from operations increased 372.7% from 3Q2011 to RMB23.5 million
  • Non-GAAP income from operations increased 436.9% from 3Q2011 to RMB30.3 million
  • Net income was RMB14.3 million, compared to net loss of RMB46 thousand in 3Q2011
  • Non-GAAP net income increased 4,023.4% from 3Q2011 to RMB19.4 million
  • Basic and diluted earnings per ADS ("EPADS", with 1 ADS representing 4 ordinary shares) was US$0.05, compared to nil in 3Q2011
  • Non-GAAP EPADS was US$0.06, compared to nil in 3Q2011

FIRST NINE MONTHS 2012 FINANCIAL & OPERATION SUMMARY:

  • Aggregate GFA of properties sold increased 23.0% year over year to 4,485,000 square meters and aggregate transaction value of properties sold increased 20.4% year over year to RMB49.8 billion
  • Net revenue decreased 19.3% year over year to RMB377.5 million
  • Gross profit decreased 32.4% year over year to RMB166.7 million
  • Loss from operations was RMB0.2 million, compared to income from operations of RMB76.6 million in the first nine months of 2011
  • Non-GAAP income from operations decreased 89.8% year over year to RMB8.0 million
  • Net loss was RMB2.5 million, compared to net income of RMB45.7 million in the first nine months of 2011
  • Non-GAAP net income decreased 92.2% year over year to RMB3.6 million
  • Basic and diluted loss per ADS was US$0.01, compared to EPADS of US$0.15 in the first nine months of 2011
  • Non-GAAP basic and diluted EPADS was US$0.01, compared to US$0.15 in the first nine months of 2011

BUSINESS HIGHLIGHTS:


Three months ended September 30

Nine months ended September 30


2012

2011

Change

2012

2011

Change

Number of cities entered

28

26

2

28

26

2

Aggregate GFA of properties sold (in thousands of square meters)

1,733

1,433

20.9%

4,485

3,645

23.0%

Average selling price per square meters (in RMB)

12,223

11,448

6.8%

11,114

11,356

-2.1%

Aggregate transaction value (in million of RMB)

21,182

16,405

29.1%

49,845

41,391

20.4%

Overall commission rates (%)

0.8

0.8

--

0.7

1.1

-0.4pp

Effective base commission rates (%)

0.7

0.8

-0.1pp

0.7

0.8

-0.1pp

Number of projects under sales

171

135

36

219

161

58


Note: pp represents percentage points.

Commenting on SYSWIN's results for its third quarter, CEO and Director Mr. Liangsheng Chen said, "I'm glad to report that we finished the third quarter with revenue exceeding our guidance, driven by our stable business growth in Beijing, Hangzhou, Nanjing and Dalian. In comparing with the same period last year, SYSWIN's third quarter results demonstrate that we're making progress in an uncertain industry environment. Our total net revenue increased 9.0% while income from operations increased 372.7% year-over-year with 171 projects under sales compared with 135 projects during the same period last year, our focus on optimizing project profitability and prudent cost management continues to be a determining factor to our profitability improvement amid current market conditions."

Mr. Chen continued, "We observed a slight improvement in the overall real estate services sector in the first half of the third quarter, but visibility remains limited, as there were no significant policy changes made from the 18th National Congress of the Communist Party of China. We expect price levels to remain generally flat, with some cities showing modest sequential growth for the remaining 2012. However, we remain confident that our strong brand and strong relationship with key property developers will set us apart and our disciplined operational approach will continue contributing to the sustainability of our business."

THIRD QUARTER & FIRST NINE MONTHS 2012 FINANCIAL REVIEW:

Net Revenue

Net revenue in 3Q2012 increased 9.0% from 3Q2011 to RMB167.5 million. Net revenue in the first nine months of 2012 decreased 19.3% year over year to RMB377.5 million.

Real Estate Sales Agency Services

Net revenue from real estate sales agency services for 3Q2012 increased 15.8% from 3Q2011 to RMB159.3 million, due to an increase in aggregate transaction value. Net revenue from real estate agency services for the first nine months of 2012 decreased 17.5% from the same period in 2011 to RMB361.7 million, primarily due to a decrease in bonus commissions.

  • The aggregate GFA of properties sold in 3Q2012 increased 20.9% from 3Q2011 to 1,733,000 square meters. The increase was primarily due to a rise in GFA of properties sold in the Beijing region, Dalian, and Shanxi. The aggregate GFA of properties sold in the first nine months of 2012 increased 23.0% from the same period in 2011 to 4,485 square meters. The increase primarily reflected a rise in GFA of properties sold in the Beijing region, Shanxi, and Chengdu.
  • Aggregate transaction value in 3Q2012 was RMB21.2 billion, an increase of 29.1% from 3Q2011. The increase in aggregate transaction value was primarily driven by improved sales in the Beijing region, Dalian, Hangzhou and Nanjing. Aggregate transaction value in the first nine months of 2012 was RMB49.8 billion, an increase of 20.4% from the same period in 2011. The increase in aggregate transaction value was primarily driven by the improved sales in the Beijing region, Nanjing, and Shanxi.
  • Average selling price per square meter of the projects to which we provided sales agency services was RMB12,223 in 3Q2012, compared to RMB11,448 in 3Q2011. The increase was primarily driven by the rise in transaction value from the Beijing region, where property prices are generally higher than other regions. Average selling price per square meter of the projects to which we provided sales agency services was RMB11,114 in the first nine months of 2012, compared to RMB11,356 in the first nine months of 2011. The slight decrease was primarily due to the increased sales of social housing projects during 1Q2012, which generally had lower selling prices.
  • Overall commission rate in 3Q2012 was 0.8%, the same as in 3Q2011. Overall commission rates in the first nine months of 2012 were 0.7%, compared to 1.1% in the first nine months of 2011 due to the decrease in bonus commissions.
  • As a percentage of net revenue, bonus commissions recognized in 3Q2012 and the first nine months of 2012 were negligible, compared to 7.8% in 3Q2011 and 22.3% in the first nine months of 2011. The significant decrease in bonus commissions was a result of the unfavorable market environment, where developers were reluctant to pay bonus commissions to real estate sales agencies.
  • Effective base commission rate was 0.7% in 3Q2012, compared to 0.8% in 3Q2011. Effective base commission rate was 0.7% in the first nine months of 2012, compared to 0.8% in the first nine months of 2011.

Real estate consultancy services

Net revenue from real estate consultancy services in 3Q2012 decreased 49.1% from 3Q2011 to RMB8.2 million, accounting for 4.9% of our total net revenue in 3Q2012. Net revenue from real estate consultancy services in the first nine months of 2012 decreased 46.0% year over year to RMB15.9 million, accounting for 4.2% of total net revenue in the first nine months of 2012. These decreases were mainly due to the Chinese government's measures to cool down the overheating real estate market.

Gross Profit and Gross Margin

Gross profit in 3Q2012 increased 19.5% from 3Q2011 to RMB80.6 million. Gross profit in the first nine months of 2012 decreased 32.4% year over year to RMB166.7 million.

Cost of revenues in 3Q2012 increased 0.8% from 3Q2011 to RMB86.9 million, primarily due to our increased sales. Cost of revenues decreased 4.7% in the first nine months of 2012 from the same period in 2011 to RMB210.8 million, primarily due to the Company's ongoing cost control measures.

Gross margin was 48.1% in 3Q2012, compared to 43.9% in 3Q2011. The improvement was attributable to the Company's prudent cost management and the increase in transaction value. Gross margin was 44.2% in the first nine months of 2012 compared to 52.7% in the first nine months of 2011 due to the decrease in net revenue.

Operating Expenses

Operating expenses including selling, marketing and administrative expenses in 3Q2012 decreased 10.6% from 3Q2011 to RMB57.4 million. The decrease was primarily attributable to a decrease in staff cost as a result of the Company's cost control efforts. Operating expenses decreased 3.5% in the first nine months of 2012 year over year to RMB168.1 million, due to the decrease of market promotion expenses and business travelling expenses.

Income/Loss from Operations and Operating Margin

Income from operations in 3Q2012 increased 372.7% from 3Q2011 to RMB23.5 million. Loss from operations in the first nine months of 2012 was RMB0.2 million, compared to income from operations of RMB76.6 million in the first nine months of 2011.

Non-GAAP income from operations in 3Q2012 increased 436.9% from 3Q2011 to RMB30.3 million. Non-GAAP income from operations in the first nine months of 2012 decreased 89.8% from the same period in 2011 to RMB8.0 million.

Operating margin in 3Q2012 increased to 14.0% from 3.2% in 3Q2011. Operating margin in the first nine months of 2012 was -0.1%, compared to 16.4% in the first nine months of 2011.

Net Income/Loss and Earnings/Loss per ADS

Net income in 3Q2012 was RMB14.3 million, compared to net loss of RMB46 thousand in 3Q2011. Net loss in the first nine months of 2012 was RMB2.5 million, compared to net income of RMB45.7 million in the first nine months of 2011.

Non-GAAP net income in 3Q2012 increased 4,023.4% from 3Q2011 to RMB19.4 million. Non-GAAP net income in the first nine months of 2012 decreased 92.2% year over year to RMB3.6 million.

Basic and diluted EPADS was US$0.05 in 3Q2012, compared to nil in 3Q2011. Basic and diluted loss per ADS was US$0.01 in the first nine months of 2012, compared to basic and diluted EPADS of US$0.15 in the first nine months of 2011.

Non-GAAP basic and diluted EPADS was US$0.06 in 3Q2012, compared to nil in 3Q2011. Non-GAAP basic and diluted EPADS was US$0.01 in the first nine months of 2012, compared to US$0.15 in the first nine months of 2011.

Cash and Cash Flow

As of September 30, 2012, the total balance of cash and cash equivalents was RMB448.6 million.

Net cash provided by operating activities in 3Q2012 was RMB46.3 million, compared to RMB31.2 million in 3Q2011.

Net cash used in investing activities in 3Q2012 was RMB29.4 million, compared to RMB13.9 million in 3Q2011.

There were no cash flows from financing activities in 3Q2012, compared to cash used in financing activities of RMB2.7 million in 3Q2011.

Net cash provided by operating activities in the first nine months of 2012 was RMB22.3 million, compared to net cash used in operating activities of RMB136.6 million in the first nine months of 2011.

Net cash used in investing activities in the first nine months of 2012 was RMB40.5 million, compared to RMB30.8 million in the first nine months of 2011.

Net cash used in financing activities in the first nine months of 2012 was RMB12.2 million, compared to RMB4.0 million in the first nine months of 2011.

FOURTH QUARTER 2012 GUIDANCE

SYSWIN expects net revenue in the fourth quarter of 2012 to be in the range of RMB123 million to RMB137 million, representing a decrease of 3.0% to an increase of 8.1% year over year. This forecast reflects the Company's current and preliminary view, which is subject to change.

SENIOR MANAGEMENT'SSHARE PURCHASE PROGRAM UPDATE

On March 19, 2012, the Board of Directors approved the adoption by Mr. Liangsheng Chen of a share purchase program pursuant to which Mr. Chen may purchase up to US$2 million of the Company's ADS over the course of 12 months on the open market, in negotiated transactions off the market, in block trades or other legally permissible ways. As of September 30, 2012, Mr. Chen had purchased 753,657 ADS, for US$1,011,013.

'GOING PRIVATE' PROPOSAL UPDATE

On September 7, 2012, SYSWIN announced that its Board of Directors had received a preliminary non-binding proposal letter from Mr. Liangsheng Chen, Chief Executive Officer, President and a director of SYSWIN, to acquire all of the outstanding shares of the Company not currently owned by him and his affiliates in a going private transaction for US$0.50 per ordinary share and US$2.00 per ADS in cash.

The Company's Board of Directors has formed a special committee of independent directors (the "Special Committee") to consider Mr. Chen's proposal. No decisions have been made by the Special Committee with respect to the Company's response to Mr. Chen's proposal. No assurance can be given that any definitive offer will be made, that any agreement will be executed or that this or any transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

CONFERENCE CALL DETAILS

Mr. Liangsheng Chen, CEO/Director, and Mr. Ray Han, CFO of SYSWIN will be hosting a conference call on December 6, 2012 at 8:00 am ET. To participate on the conference call, please dial the following numbers:

U.S. (Toll free)

+1-855-500-8701

Hong Kong (Toll free) 

800-903-737

China, Domestic (Toll) 

400-120-0654

Other international locations (Toll) 

+65-6723-9385

An operator will answer your call and please use "SYSWIN" as the verbal passcode to access the call.

Replays of the conference call will be available until December 13, 2012 by dialing the following numbers:

Toll free:


U.S.

+1-855-452-5696

Hong Kong

800-963-117

China

400-120-0932 / 800-870-0205

Other international locations

+61-2-8199-0299

Passcode

68450173

A live webcast can also be accessed through the investor relations section of the Company's website at http://ir.syswin.com.

CONTACT:

Wen Fan
Investor Relations
Email: [email protected]
Tel: +86-10-8472-8783

ABOUT SYSWIN

The Company began focusing on providing primary real estate services since 2004 and believes it is a leading primary real estate service provider in China. The Company currently has operations in 28 cities throughout China. The Company primarily provides real estate sales agency services to property developers relating to new residential properties. Capitalizing on the experience and capabilities gained in Beijing, the Company focuses on providing tailored services to its key clients in a number of markets and has been successful in generating repeat business and increasing business volume. Of China's top 30 developers (including those that do not use sales agency services), 15 are or have previously been clients of the Company. Clients of the Company include some of the most well-recognized national developers in China, including China Vanke, Poly Real Estate, CR Land, Agile Group and Guangzhou R&F Properties.

CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS:

This press release contains forward-looking statements, including statements regarding the quarterly earnings forecast, anticipated performance, general business outlook and projected results of operations. These statements are made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. SYSWIN has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. SYSWIN may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission (the "SEC"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about beliefs and expectations, are forward-looking statements and are subject to change, and such change may be material and may have a material adverse effect on SYSWIN's financial condition and results of operations for one or more periods. Forward-looking statements involve inherent risks and uncertainties. All forward-looking statements are subject to various risks and uncertainties, including but not limited to regulatory developments, deteriorating economic conditions and unavailability of real estate financing, which could cause actual results to differ materially from expectations. The factors that could affect SYSWIN's future financial results are discussed more fully in SYSWIN's filings with the SEC. Unless otherwise specified, all information provided in this press release is as of the date of this press release, and SYSWIN does not undertake any obligation to update any such information, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement SYSWIN Inc.'s consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), SYSWIN Inc. uses in this press release the following non-GAAP financial measures: (1) Non-GAAP net income attributable to SYSWIN Inc.'s ordinary shareholders, (2) Non-GAAP net income, (3) Non-GAAP income from operations, and (4) Non-GAAP net income per share, basic and diluted, each of which excludes amortization and impairment charge of intangible assets resulting from business acquisitions. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Unaudited reconciliation of GAAP and non-GAAP results" set forth at the end of this press release.

SYSWIN Inc. believes that these non-GAAP financial measures provide meaningful supplemental information to investors regarding its operating performance by excluding amortization and impairment charges of intangible assets resulting from business acquisitions, which may not be indicative of SYSWIN Inc.'s operating performance. These non-GAAP financial measures also facilitate management's internal comparisons to SYSWIN Inc.'s historical performance and assist its financial and operational decision making. The accompanying tables have more details on the reconciliation between non-GAAP financial measures and their most comparable GAAP financial measures.

 

SYSWIN INC.

Unaudited Condensed Consolidated Statements of Operations

(in thousands, except shares and per share data)



Three Months Ended

September 30,


Nine Months Ended

September 30,


2011

RMB


2012

RMB


2011

RMB


2012

RMB









Net revenue

153,632


167,455


467,855


377,548









Cost of revenues

(86,198)


(86,852)


(221,261)


(210,839)









Gross profit

67,434


80,603


246,594


166,709









Selling, marketing and administrative expenses

(64,160)


(57,389)


(174,174)


(168,123)

Other operating income, net

1,689


245


4,164


1,177









Income/(loss) from operations

4,963


23,459


76,584


(237)

Interest income

961


2,655


2,995


8,166

Foreign currency exchange (loss)/gain

(3,856)


426


(12,796)


784

Other (expenses)/income, net

(1,114)


(5,332)


3,217


(4,723)









Income before income tax

954


21,208


70,000


3,990

Income tax

(1,000)


(6,950)


(24,278)


(6,539)

Net (loss)/income

(46)


14,258


45,722


(2,549)









Add: Net loss/(income) attributable to non-controlling interest

86


-


(118)


225

Net income/(loss) attributable to SYSWIN Inc.'s ordinary shareholders

40


14,258


45,604


(2,324)









Net income/(loss) per share, basic and diluted

-


0.07


0.24


(0.01)

Shares used in calculating income/(loss) per share, basic and diluted (weighted average number of ordinary shares outstanding)

193,275,000


193,275,000


193,275,000


193,275,000

 

SYSWIN INC.

Unaudited Condensed Consolidated Balance Sheets

(in thousands)




December 31,


September 30,



2011

RMB


2012

RMB

ASSETS





Current assets:





Cash and cash equivalents


479,001


448,628

Restricted cash


3,000


3,000

Accounts receivable, net


366,050


384,206

Prepaid expenses - related party


7,968


6,651

Other receivables


15,884


17,833

Deferred tax assets


31,793


39,223

Total current assets


903,696


899,541






Non-current assets:





Property and equipment, net


40,067


62,361

Intangible assets, net


24,426


13,356

Prepaid expenses - related party


5,312


-

Deferred tax assets


18,889


25,764

Other non-current assets


28,250


26,000

Total assets


1,020,640


1,027,022






Current liabilities:





Accrued expenses and other current liabilities


171,043


200,027

Income tax payable


24,362


20,011

Dividend payable


12,153


-

Total current liabilities


207,558


220,038






Non-current liabilities:





Deferred revenue


1,521


837

Deferred tax liabilities


2,065


-

Total liabilities


211,144


220,875






Shareholders' equity:





Ordinary shares


1


1

Additional paid-in capital


635,029


635,454

Statutory reserve


43,659


43,659

Retained earnings


129,357


127,033

Total SYSWIN Inc.'s shareholders' equity


808,046


806,147






Non-controlling interest


1,450


-






Total shareholders' equity


809,496


806,147






Total liabilities and shareholders' equity


1,020,640


1,027,022


 

SYSWIN INC.

Unaudited Condensed Consolidated Statements of Cash Flows

(in thousands)



Three Months Ended

September 30,


Nine Months Ended

September 30,


2011

RMB


2012

RMB


2011

RMB


2012

RMB









Cash flows from operating activities








Net (loss)/income

(46)


14,258


45,722


(2,549)

Adjustment to reconcile net (loss)/income to net cash provided by (used in) operating activities








Depreciation and amortization

5,742


5,296


14,029


16,336

Allowance for doubtful accounts

(631)


(161)


(631)


11,737

Impairment charge of intangible assets

-


6,195


-


6,195

Changes in operating assets and liabilities








Accounts receivable

22,352


(20,439)


(73,576)


(29,893)

Other receivables

1,345


(1,249)


(55,649)


(1,949)

Increase of restricted cash, net

(690)


-


(690)


-

Prepaid expenses - related party

593


1,813


(14,372)


6,629

Deferred tax assets

(5,351)


(9,689)


(10,960)


(14,305)

Deferred tax liabilities

(172)


(1,721)


(430)


(2,065)

Other non-current assets

(3,000)


2,200


(5,200)


2,250

Accrued expenses and other current liabilities

7,265


40,961


(18,744)


34,959

Income tax payable

3,974


9,065


(15,377)


(4,351)

Deferred revenue

(228)


(228)


(684)


(684)

Net cash provided by (used in) operating activities

31,153


46,301


(136,562)


22,310









Cash flows from investing activities








Purchase of property and equipment

(4,850)


(32,395)


(13,457)


(33,755)

(Increase)/release of restricted cash, net

(9,000)


3,000


(6,000)


-

Acquisition of subsidiaries, net of cash acquired

-


-


(8,831)


(6,375)

Acquisition of non-controlling interest

-


-


(2,560)


(400)

Net cash used in investing activities

(13,850)


(29,395)


(30,848)


(40,530)









Cash flows from financing activities








Issuance cost paid

-


-


(993)


-

Dividends paid to shareholders

(2,705)


-


(3,044)


(12,153)

Net cash used in financing activities

(2,705)


-


(4,037)


(12,153)









Net increase/(decrease) in cash and cash equivalents

14,598


16,906


(171,447)


(30,373)

Cash and cash equivalents at the beginning of the period

395,720


431,722


581,765


479,001

Cash and cash equivalents at the end of the period

410,318


448,628


410,318


448,628


 

SYSWIN INC.

Unaudited Reconciliation of GAAP and Non-GAAP Results

(in thousands, except shares and per share data)



Three Months Ended

September 30,


Nine Months Ended

September 30,


2011

RMB


2012

RMB


2011

RMB


2012

RMB









GAAP income/(loss) from operations

4,963


23,459


76,584


(237)

Amortization of intangible assets resulting from business acquisitions

689


689


1,721


2,065

Impairment charge of intangible assets resulting from business acquisition

-


6,195


-


6,195

Non-GAAP income from operations

5,652


30,343


78,305


8,023









GAAP net (loss)/income

(46)


14,258


45,722


(2,549)

Amortization of intangible assets resulting from business acquisitions (net of tax)

517


517


1,291


1,549

Impairment charge of intangible assets resulting from business acquisition (net of tax)

-


4,646


-


4,646

Non-GAAP net income

471


19,421


47,013


3,646









GAAP net income/(loss) attributable to SYSWIN Inc.'s ordinary shareholders

40


14,258


45,604


(2,324)

Amortization of intangible assets resulting from business acquisition (net of tax and non-controlling interest)

475


517


1,187


1,522

Impairment charge of intangible assets resulting from business acquisition (net of tax)

-


4,646


-


4,646

Non-GAAP net income attributable to SYSWIN Inc.'s ordinary shareholders

515


19,421


46,791


3,844









GAAP net income/(loss) per share, basic and diluted

-


0.07


0.24


(0.01)

Non-GAAP net income per share, basic and diluted

-


0.10


0.24


0.02

Shares used in calculating GAAP/Non-GAAP income/(loss) per share, basic and diluted (weighted average number of ordinary shares outstanding)

193,275,000


193,275,000


193,275,000


193,275,000

SOURCE SYSWIN Inc.

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Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (Nasdaq: YHOO) have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash, subject to customary closing adjustments. Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also co...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices 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 opportuni...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.