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SHFL entertainment, Inc. Reports Fourth Quarter and Fiscal Year Ended 2012 Results

SHFL entertainment Achieves Record Quarterly and Annual Revenue and Net Income; Fiscal Year Adjusted Diluted Earnings Per Share Growth of 25%

LAS VEGAS, Dec. 17, 2012 /PRNewswire/ -- SHFL entertainment, Inc. (NASDAQ Global Select Market:  SHFL) ("SHFL" or the "Company") today announced its results for the fourth quarter and fiscal year ended October 31, 2012.

(Logo: http://photos.prnewswire.com/prnh/20121008/LA88315LOGO)

"We had a strong finish to 2012 with record revenue of $73.6 million in the fourth quarter, driven by successful execution of our core businesses.  For the fiscal year, 14% growth on the top line, 12% recurring revenue growth, and 25% growth in adjusted earnings per share demonstrate yet another year of exceptional performance.  All but one of our product categories witnessed double digit revenue growth; that's impressive in any environment, and especially in this one," said Gavin Isaacs, SHFL's Chief Executive Officer.  "As we communicated throughout the year, we have been and intend to continue to invest in our business and look forward to reaping the benefits in the future.  Entering the new fiscal year, we believe we are well-positioned for sustainable growth as we benefit from continued MD3 card shuffler placements, global expansion of our slot machine business, improved e-Table offerings, and meaningful opportunities created from the power of our specialty table game brands, both in brick and mortar casinos and online casinos."

Fourth Quarter 2012 Financial Highlights

  • Total revenue increased 12% to a record $73.6 million, up from $65.7 million over the prior year period.
  • Recurring revenue grew 14% year-over-year to $31.5 million, due to growth in the Utility, Proprietary Table Game ("PTG"), and Electronic Table Systems ("ETS") segments.
  • GAAP net income increased 11% year-over-year to a record $10.8 million.
  • Diluted earnings per share ("EPS") grew 6% year-over-year to $0.19. This includes approximately $1.0 million in one-time rebranding expenses related to the Company's name change and set-up costs associated with establishing its new international operations in Gibraltar and Latin America. 
  • Gross margin increased 110 basis points year-over-year to 64%, due to strong PTG recurring revenue growth and improved ETS performance.
  • Operating income margin remained relatively flat year-over-year at 22%.
  • Adjusted EBITDA increased 6% to a record $23.9 million from $22.7 million.
  • Selling, general and administrative ("SG&A") expenses increased $2.9 million year-over-year to $21.4 million. The increase primarily came from $1.1 million in legal expenses such as increased litigation, patent, and trademark costs.  The year-over-year increase was also due to greater sales and profit-driven commissions and related expenses, in addition to the establishment of the Company's new international operations.  Greater total marketing costs predominantly related to the Company's re-branding also contributed to the increase.
  • Research & Development ("R&D") expenses increased approximately $1.0 million year-over-year to $9.1 million largely due to development costs associated with the Company's iGaming content delivery platform and online versions of its proprietary table games, and to a lesser extent, product enhancement initiatives in the Utility segment.
  • Free Cash Flow ("FCF")1, a non-GAAP financial measure, was $12.3 million, a decrease of 22% year-over-year primarily due to an increase in cash taxes paid from increased profitability and our Australian entities' full utilization of net operating losses in fiscal 2011.  To a lesser extent, FCF declined due to an increase in capital expenditures largely related to the development of the Company's iGaming content delivery platform and its purchase of servers for its overseas iGaming operations. 

Fiscal Year 2012 Financial Highlights

  • Revenue increased 14% year-over-year to $259.0 million – a Company record.
  • Recurring revenue grew 12%, or $12 million, to $118.2 million and comprised 46% of total Company revenue.
  • The Company paid off its remaining revolving line of credit balance in the fourth quarter and its cash and cash equivalents totaled $24.2 million. On October 31, 2011 the Company's net debt (total debt less cash and cash equivalents) was $17.1 million.
  • Gross margin increased 110 basis points year-over-year to 64%. The increase was driven by strong growth in recurring and sales revenue.
  • GAAP net income was a Company record at $38.6 million, compared to $31.6 million in fiscal year 2011. Diluted EPS increased to $0.68 compared to $0.57 last year. This includes one-time rebranding costs associated with the Company's name change and set-up expenses for its new international operations of approximately $1.0 million.  Excluding the impact of due diligence expenses associated with the Company's terminated acquisition of Ongame in the fiscal year, EPS grew 25% to $0.71.
  • Operating income margin increased 110 basis points year-over-year to 21%.  Excluding the impact of due diligence expenses associated with the Company's terminated acquisition of Ongame in the fiscal year, operating margin was 22%.
  • Adjusted EBITDA grew 17% to $87.0 million, a Company record, from $74.7 million in fiscal year 2011.
  • SG&A increased $8.8 million, or 13% year-over-year, to $77.4 million. Greater compensation and related expenses of $4.1 million primarily drove the increase as a result of higher sales and profit-driven commissions and related expenses, in addition to a full year of compensation for several executive-level positions that were filled in fiscal 2011.  $2.2 million in due diligence expenses from the terminated Ongame acquisition was also a key contributor to the increase.  Greater legal expenses of $1.5 million from various litigation matters, as well as regulatory and licensing expenses associated with the Company's iGaming segment also contributed to the year-over-year increase.  SG&A as a percentage of total revenue stayed constant at 30%.
  • R&D expenses increased 16% year-over-year to $32.2 million.  Development of the Company's iGaming content delivery platform and online versions of proprietary table games attributed to the increase, in addition to new title development for the Equinox cabinet.  Additional investment in ETS and Utility also contributed to the increase.
  • FCF was $43.8 million, a decrease of 9% year-over-year primarily due to a $17.2 million increase in cash taxes paid.  In fiscal 2012, the Company paid cash taxes as a result of greater profitability across all of its international subsidiaries as well as the full utilization of net operating losses in Australia.  In fiscal 2011, the Company received a net refund of approximately $0.5 million.
  • International revenue totaled $144.4 million in 2012 compared to $126.8 million 2011, and represents 56% of total Company revenue.

"We reported another very strong quarter and year both operationally and financially as we continue to develop and deliver compelling products to the industry," said Linster Fox, SHFL's Chief Financial Officer.  "With no debt on our revolving line of credit and inventory turns at the highest they've ever been, our optimization of working capital helps us fuel growth and create shareholder value.  That growth requires investment in SHFL to capitalize on the many organic opportunities for the Company, particularly in the iGaming space and expanding into markets where we're underrepresented."

Fourth Quarter 2012 Business Segment Highlights

Utility

  • Total Utility recurring revenue grew 8% to $13.8 million. The increase was driven mainly by the Company's upgrade initiative and new casino openings in the United States, resulting in increased MD3, iDeal, and Deckmate card shuffler lease placements.
  • Total Utility revenue grew to $25.0 million, representing a 5% increase over the same period last year. Strong recurring revenue growth, partially offset by a decrease in sales revenue, drove growth during the quarter.
  • The leased installed base of 8,285 shufflers at the end of the quarter represented a 9% year-over-year increase.
  • Gross margin remained flat year-over-year at 62%. 
  • The MD3 total installed base increased by 361 units in the quarter to 1,742. Of the total installed base, 54% of units are on lease.

Proprietary Table Games

  • Total PTG recurring revenue increased 14% year-over-year to $12.6 million during the fourth quarter primarily due to increased placements across all PTG categories: premium table games (Ultimate Texas Hold'em, Mississippi Stud), progressive units (Fortune Pai Gow Poker Progressive, Three Card Poker Progressive), and side bets (Fire Bet, Fortune Pai Gow Poker, Dragon Bonus).
  • Total PTG revenue increased 23% to $13.8 million driven by strong lease placements and to a lesser extent, increased sales revenue.
  • Gross margin increased 220 basis points year-over-year to 83% due to an increase in total revenues.
  • The progressive installed base increased 333 units year-over-year to 1,193 units overall. Placements of Three Card Poker Progressive, Fortune Pai Gow Poker Progressive, and Ultimate Texas Hold'em Progressive drove installs year-over-year.

Electronic Table Systems

  • Total ETS recurring revenue grew 33% year-over-year to $4.9 million due to strong participation revenue from Table Master and Vegas Star.
  • Total ETS revenue grew to $9.9 million. The 37% year-over-year increase was driven primarily by sales of Vegas Star Widescreen upgrades in Australia in addition to the growth in recurring revenue.
  • Gross margin improved substantially year-over-year to 57% due to an increase in total segment revenue.

Electronic Gaming Machines ("EGM")

  • Total EGM revenue grew 6% year-over-year to $24.9 million. The increase was primarily driven by sales related to the Equinox Super Top Box, the new slot title The Flintstones in Australia, as well as sales of 88 Fortunes in Asia.
  • Gross margin decreased to 58% from 66% in the prior year period. This was due mainly to higher manufacturing costs in the current period as well as an increase in outsourced installation costs related to the Company's expansion into new market segments in Australia.
  • Total EGM placements fell 8% from 1,256 one year ago to 1,151 units. A decrease in Estar units on lease, offset slightly by sales of Super Top Box units, was the main driver of the decrease.

Further detail and analysis of the Company's financial results for the fiscal year ended October 31, 2012, is included in its Form 10-K, which the Company intends to file with the Securities and Exchange Commission on or before December 31, 2012.

Webcast & Conference Call Information

Company executives will provide additional perspective on the Company's fourth quarter and year-end results during a conference call on December 17, 2012 at 2:00 pm Pacific Time.  Those interested in participating in the call may do so by dialing (201) 689-8263 or toll-free (877) 407-0792 and requesting SHFL entertainment's Fourth Quarter and Year End 2012 Conference Call.  A hardcopy of the presentation materials may be printed from the SHFL entertainment, Inc. Investor Relations website, http://ir.shfl.com, shortly before the start of the call.  In conjunction with the call, a live audio webcast and a Company slide presentation highlighting fourth quarter performance may be accessed at http://ir.shfl.com.  In order to access the live audio webcast please allow at least 15 minutes before the start of the call to visit SHFL entertainment's Investor Relations website and download/install any necessary audio/video software for the webcast.  Immediately following the call and through January 17, 2013, a playback can be heard 24-hours a day by dialing (858) 384-5517 or toll-free (877) 870-5176; account number is 3055; conference I.D. number is 401649. Highlights from the conference call can be accessed on the Company's Investor Relations Twitter account, www.twitter.com/shfl_news.

About SHFL entertainment, Inc.

SHFL entertainment, Inc. is a leading global gaming supplier committed to making gaming more fun for players and more profitable for operators through product innovation, and superior quality and service. The Company operates in legalized gaming markets across the globe and provides state-of-the-art, value-add products in five distinct categories: Utility products, which include automatic card shufflers and roulette chip sorters; Proprietary Table Games, which includes live games, side bets and progressives; Electronic Table Systems, which include various e-Table game platforms; Electronic Gaming Machines, which include video slot machines; and newly introduced iGaming, which features online versions of SHFL entertainment's table games, social gaming, and mobile applications. The Company is included in the S&P SmallCap 600 Index. Information about the Company and its products can be found on the Internet at www.shfl.com, or on Facebook, Twitter and YouTube.

Forward Looking Statements

This release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements included in this release other than statements that are purely historical are forward-looking statements. Forward-looking statements in this press release include, without limitation: (a) the Company's ability to sustain its growth through successfully implementing its strategic, growth, and operational initiatives; (b) the Company's belief that EPS, Adjusted EBITDA and Free Cash Flow are useful widely referenced performance measures in the Company's industry and the Company's belief that references to them are helpful to investors; (c) the Company's estimates of diluted EPS and Adjusted EBITDA and the assumptions upon which they are based; (d) the Company's belief that growth requires organic investment in the Company; (e) the Company's ability to develop products that achieve commercial success in the very competitive marketplace in which the Company operates; (f) the fact that the Company competes in a single industry and is dependent on the success of its customers and the risks that impact the Company's customers, including a change in demand for gaming, a downturn in general worldwide economic conditions, or the gaming industry may adversely impact the Company or its results of operations. The Company's beliefs, expectations, forecasts, objectives, anticipations, intentions and strategies regarding the future, including without limitation those concerning expected operating results, revenues and earnings are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from results contemplated by the forward-looking statements, including but not limited to: (a) inability to accomplish the Company's innovation objectives or unexpected factors that limit or eliminate the Company's ability to implement its strategic and operational plans or undertake or complete any of its growth initiatives including the rollout of the revamped e-Tables or its suite of new live and online games; (b) inaccuracies in the Company's assumptions as to the financial measures that investors use or the manner in which such financial measures may be used by such investors; (c) reduced demand for or increased competition with the Company's products that affects its EPS and Adjusted EBITDA; (d) the Company's inability to suitably manage its organic growth; (e) the Company's inability to accurately gauge the commercial appeal of its products; and (f) unexpected changes in the market and economic conditions and reduced demand for or increased competition with the Company's products. Additional information on risk factors that could potentially affect the Company's financial results may be found in documents filed by the Company with the Securities and Exchange Commission, including the Company's current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. The Company does not intend, and assumes no obligation, to update any forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

1 Free Cash Flow is Adjusted EBITDA less capital expenditures and cash paid for taxes.




SHFL ENTERTAINMENT, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)





 Three Months Ended 

 Twelve Months Ended 


 October 31, 


 October 31, 


2012


2011


2012


2011

Revenue:








  Product leases and royalties

$29,549


$25,744


$110,279


$98,369

  Product sales and service

44,005


40,002


148,768


129,402

Total revenue

73,554


65,746


259,047


227,771

Costs and expenses:








  Cost of leases and royalties

9,860


9,583


37,713


34,089

  Cost of sales and service

16,888


15,092


56,196


51,127

Gross profit

46,806


41,071


165,138


142,555

  Selling, general and administrative

21,448


18,532


77,439


68,609

  Research and development

9,106


8,134


32,180


27,628

Total costs and expenses

57,302


51,341


203,528


181,453









Income from operations

16,252


14,405


55,519


46,318









Other income (expense)








  Interest income

146


206


575


635

  Interest expense

(297)


(605)


(1,519)


(2,636)

  Other, net

(324)


(493)


(115)


(997)

Total other income (expense)

(475)


(892)


(1,059)


(2,998)

Income from operations before tax

15,777


13,513


54,460


43,320

Income tax provision

4,979


3,799


15,854


11,730

Net income

$10,798


$  9,714


$  38,606


$31,590









Basic earnings per share:

$    0.19


$    0.18


$     0.69


$    0.58

Diluted earnings per share:

$    0.19


$    0.18


$     0.68


$    0.57









Weighted average shares outstanding:








  Basic

56,444


54,425


55,884


54,344

  Diluted

57,185


54,959


56,628


54,997









 





SHFL ENTERTAINMENT, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts)

(Unaudited)








 October 31,  




2012


2011




 (In thousands, except per share amounts) 

ASSETS




Current assets:





Cash and cash equivalents

$24,160


$22,189


Accounts receivable, net of allowance for bad debts of $491 and $402

45,708


39,713


Investment in sales-type leases and notes receivable, net of allowance for bad debts of $8 and $44

9,287


5,006


Inventories

21,906


24,335


Prepaid income taxes

4,053


3,279


Deferred income taxes

4,622


4,911


Other current assets

6,901


4,291



Total current assets

116,637


103,724

Investment in sales-type leases and notes receivable, net of current portion and net of allowance for bad debts of $0 and $5

6,310


3,704

Products leased and held for lease, net

34,639


35,196

Property and equipment, net

17,417


12,849

Intangible assets, net

62,836


66,517

Goodwill

84,950


85,392

Deferred income taxes

5,183


3,038

Other assets

3,079


2,467

Total assets

$331,051


$312,887







LIABILITIES AND SHAREHOLDERS' EQUITY


Current liabilities:





Accounts payable

$6,702


$5,001


Accrued liabilities and other current liabilities

22,402


21,135


Deferred income taxes

16


96


Customer deposits

3,383


3,407


Income tax payable

4,179


2,595


Deferred revenue

4,799


3,862


Current portion of long-term debt

-


508



Total current liabilities

41,481


36,604

Long-term debt, net of current portion

1,303


38,757

Other long-term liabilities

2,004


2,969

Deferred income taxes

1,493


942



Total liabilities

46,281


79,272

Commitments and Contingencies (See Note 15) 




Shareholders' equity:





Common stock, $0.01 par value; 153,368 shares authorized; 55,973 and 54,196 shares issued and outstanding

560


542


Additional paid-in capital

135,758


114,306


Retained earnings

119,444


80,838


Accumulated other comprehensive income 

29,008


37,929



Total shareholders' equity 

284,770


233,615

Total liabilities and shareholders' equity

$331,051


$312,887


















SHFL ENTERTAINMENT, INC.

SUPPLEMENTAL DATA

(Unaudited, in thousands)






FINANCIAL DATA






 Three Months Ended 


 Twelve Months Ended 


 October 31, 


 October 31, 


2012


2011


2012


2011









Cash Flow Data:
















  Cash provided by operating activities

$ 15,243


$ 27,277


$ 51,111


$ 63,969









  Cash used in investing activities:








Payments for products leased and held for lease

$  (2,398)


$  (4,988)


$(13,625)


$(16,596)

Purchases of property and equipment

(2,427)


(847)


(8,279)


(3,530)

Purchases of intangible assets

(217)


(549)


(4,550)


(6,818)

Acquisition of business

-


-


(5,500)


(6,499)

Proceeds from sale of leased assets

845


1,162


2,485


7,402

Proceeds from sale of assets

-


(4)


-


82

Other

(795)


(227)


(1,485)


(928)


$  (4,992)


$  (5,453)


$(30,954)


$(26,887)









  Cash provided by (used in) financing activities

$(13,847)


$(29,159)


$(19,282)


$(24,736)









  Free cash flow (2)

$ 12,311


$ 15,876


$ 43,817


$ 48,223









Reconciliation of net income to Adjusted EBITDA:
















  Net income

$ 10,798


$   9,714


38,606


$ 31,590

  Other expense (income)

475


892


1,059


2,998

  Share-based compensation

1,107


1,069


4,170


3,253

  Income tax provision

4,979


3,799


15,854


11,730

  Depreciation and amortization

6,547


7,184


25,204


25,135

  Ongame Acquisition Expenses

-


-


2,152


-









  Adjusted EBITDA (1) 

$ 23,906


$ 22,658


$ 87,045


$ 74,706









  Adjusted EBITDA margin

32.5%


34.5%


33.6%


32.8%

















1.

Adjusted EBITDA is earnings before other expense (income), provision for income taxes, depreciation and amortization expense, Ongame acquisition expenses, and share-based compensation.  Adjusted EBITDA is presented exclusively as a supplemental disclosure because management believes that it is a useful performance measure and is widely used to measure performance, and as a basis for valuation, within the Company's industry. Adjusted EBITDA is not calculated in the same manner by all companies and, accordingly, may not be an appropriate measure for comparison.  Management uses Adjusted EBITDA as a measure of the operating performance and to compare the operating performance with those of its competitors.  The Company also presents Adjusted EBITDA because it is used by some investors as a way to measure a company's ability to incur and service debt, make capital expenditures and meet working capital requirements.  Gaming equipment suppliers have historically reported Adjusted EBITDA as a supplement to financial measures in accordance with U.S. generally accepted accounting principles ("GAAP").  Adjusted EBITDA should not be considered as an alternative to operating income (loss), as an indicator of the Company's performance, as an alternate to cash flows from operating activities, as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP.  Unlike net income (loss), Adjusted EBITDA does not include depreciation and amortization or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital.  The Company compensates for these limitations by using Adjusted EBITDA as only one of several comparative tools, together with GAAP measurements, to assist in the evaluation of operating performance.  Such GAAP measurements include operating income (loss), net income (loss), cash flows from operations and cash flow data.  The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other non-recurring charges, which are not reflected in Adjusted EBITDA.  

2.

Free cash flow is Adjusted EBITDA less capital expenditures and cash paid for taxes.

 







SHFL ENTERTAINMENT, INC.

BUSINESS SEGMENT DATA

(Unaudited, in thousands)










 Three Months Ended 


 Twelve Months Ended 




October 31,


October 31,




2012


2011


2012


2011








Utility:









Revenue

$  24,977


$  23,834


$    93,965


$    82,942


Gross profit

15,362


14,689


57,984


49,973


Gross margin

61.5%


61.6%


61.7%


60.3%











Proprietary Table Games:









Revenue

$  13,823


$  11,220


$    52,446


$    43,986


Gross profit

11,435


9,032


43,429


35,370


Gross margin

82.7%


80.5%


82.8%


80.4%











Electronic Table Systems:









Revenue

$    9,859


$    7,216


$    31,042


$    33,937


Gross profit

5,604


1,880


14,472


14,564


Gross margin

56.8%


26.1%


46.6%


42.9%











Electronic Gaming Machines:









Revenue

$  24,895


$  23,476


$    81,594


$    66,906


Gross profit

14,405


15,470


49,253


42,648


Gross margin

57.9%


65.9%


60.4%


63.7%











Total:









Revenue

$  73,554


$  65,746


$  259,047


$  227,771


Gross profit

46,806


41,071


165,138


142,555


Gross margin

63.6%


62.5%


63.7%


62.6%











 Adjusted EBITDA 










 as a percentage of total revenue 

32.5%


34.5%


33.6%


32.8%











 Income from operations 










 as a percentage of total revenue 

22.1%


21.9%


21.4%


20.3%











 

SOURCE SHFL entertainment, Inc.

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When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
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...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...