Welcome!

.NET Authors: Elizabeth White, Jayaram Krishnaswamy, Sematext Blog, ITinvolve Blog, Aditya Banerjee

News Feed Item

American Greetings Announces Third Quarter Earnings

CLEVELAND, Dec. 20, 2012 /PRNewswire-FirstCall/ -- American Greetings Corporation (NYSE: AM) today announced its results for the third fiscal quarter ended November 23, 2012.

Third Quarter Results

For the third quarter of fiscal 2013, the Company reported total revenue of $506.8 million, a pre-tax loss of $2.1 million, and a net loss of $0.8 million or 3 cents per share (all per-share amounts assume dilution).   

The Company announced, on June 7, 2012, the acquisition of certain assets of United Kingdom-based Clinton Cards, including approximately 400 stores and related overhead as well as the Clinton Cards and related brands.  As a result of the acquisition, the Company recognized during the third quarter of fiscal 2013 a revenue increase of approximately $67.6 million from the operations of the Clintons retail stores, reflected in the Company's new Retail Operations segment.  This revenue increase was partially offset by the revenue reduction of approximately $25.5 million from inter-segment sales eliminations, reflected in the Company's International Social Expressions segment, resulting in a net increase in consolidated revenue of approximately $42.1 million in the quarter.  The revenue being eliminated would have been third party sales in the prior year quarter.

The Company recognized a loss of $11.5 million (after-tax of approximately $7.0 million or 22 cents per share) from the operation of its Retail Operations segment.  The Company also recognized a reduction in pre-tax income of approximately $4.1 million (after-tax of approximately $2.5 million or 8 cents per share) as a result of inter-segment items within the International Social Expressions segment.  The total consolidated net reduction in pre-tax income associated with the operation of the Clintons retail stores during the third fiscal quarter was approximately $15.6 million (after-tax of approximately $9.5 million or 30 cents per share).

During the quarter, consolidated revenue was also reduced by $0.6 million as a result of scan-based trading conversions that occurred during the current year's third quarter while the impact of scan-based trading conversions on pre-tax income was $0.6 million (after-tax of approximately $0.4 million or 1 cent per share). 

Also impacting the consolidated results was a pre-tax non-operating income benefit of $1.1 million (after-tax of approximately $0.7 million or 2 cents per share) from a gain on the sale of a portion of a legacy minority investment.  A separate but related gain from this minority investment was previously recognized during our second fiscal quarter of 2013.

In the prior year's third quarter, the Company reported total revenue of $465.0 million, pre-tax income of $29.7 million, and net income of $20.2 million or 50 cents per share.  Scan-based trading conversions reduced revenue by approximately $1.2 million during the quarter and reduced pre-tax income by approximately $1.1 million (after-tax of approximately $0.7 million or 2 cents per share).

Financing Activities

During the third quarter of fiscal 2013, under the Company's $75 million share repurchase program announced July 2012, the Company purchased approximately 1.1 million shares of its common stock for approximately $15.9 million.  Purchases under this share repurchase program were suspended as of September 26, 2012. 

Conference Call on the Web

American Greetings will broadcast its conference call live on the Internet at 9:00 a.m. Eastern time today.  The conference call will be accessible through the Investors section of the American Greetings Web site at http://investors.americangreetings.com.  A replay of the call will also be available on the site.

About American Greetings Corporation

For more than 100 years, American Greetings Corporation (NYSE: AM) has been a creator and manufacturer of innovative social expression products that assist consumers in enhancing their relationships to create happiness, laughter and love.  The Company's major greeting card lines are American Greetings, Carlton Cards, Gibson, Recycled Paper Greetings and Papyrus, and other paper product offerings include DesignWare party goods and American Greetings and Plus Mark gift-packaging and boxed cards.  American Greetings also has one of the largest collections of greetings on the Web, including greeting cards available at Cardstore.com and electronic greeting cards available at AmericanGreetings.com.  In addition to its product lines, American Greetings creates and licenses popular character brands through the American Greetings Properties group.  Headquartered in Cleveland, Ohio, American Greetings generates annual revenue of approximately $1.7 billion, and its products can be found in retail outlets worldwide.  For more information on the Company, visit http://corporate.americangreetings.com.

Non-GAAP Measures

Certain after-tax amounts included in the earnings release may be considered non-GAAP measures under the Securities and Exchange Commission's Regulation G.  The after-tax amounts were calculated based on the Company's statutory tax rate of approximately 38.9% for U.S. based items and the appropriate rates for international jurisdictions.  Management believes that after-tax information is useful in analyzing the Company's results. 

Factors That May Affect Future Results

Certain statements in this release may constitute forward-looking statements within the meaning of the Federal securities laws.  These statements can be identified by the fact that they do not relate strictly to historic or current facts.  They use such words as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance.  These forward-looking statements are based on currently available information, but are subject to a variety of uncertainties, unknown risks and other factors concerning the Company's operations and business environment, which are difficult to predict and may be beyond the control of the Company.  Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements, and that could adversely affect the Company's future performance, include, but are not limited to, the following:

  • a weak retail environment and general economic conditions;
  • the loss of one or more retail customers and/or retail consolidations, acquisitions and bankruptcies, including the possibility of resulting adverse changes to retail contract terms;
  • competitive terms of sale offered to customers, including costs and other terms associated with new and expanded customer relationships;
  • the ability to successfully integrate Clinton Cards and achieve the anticipated revenue and operating profits, together with the outcome of negotiations with landlords and the ultimate number of stores acquired;
  • the ability of the administrators to generate sufficient proceeds from the liquidation of the remaining Clinton Cards business to repay the remaining secured debt owed to American Greetings;
  • the timing and impact of expenses incurred and investments made to support new retail or product strategies, including increased marketing expenses, as well as new product introductions and achieving the desired benefits from those investments;
  • the timing of investments in, together with the ability to successfully implement or achieve the desired benefits and cost savings associated with, any information technology systems refresh the Company may implement;
  • the timing and amount of expenses incurred by the Company in connection with the non-binding proposal dated September 25, 2012 from Zev Weiss, its Chief Executive Officer, and Jeffrey Weiss, its President and Chief Operating Officer, on behalf of themselves and certain other members of the Weiss family and related parties to acquire all of the outstanding Class A and Class B common shares of the Company not currently owned by the them;
  • the timing and impact of converting customers to a scan-based trading model;
  • the ability to achieve the desired benefits associated with the Company's cost reduction efforts;
  • Schurman Fine Papers' ability to successfully operate its retail operations and satisfy its obligations to the Company; 
  • consumer demand for social expression products generally, shifts in consumer shopping behavior, and consumer acceptance of products as priced and marketed including the success of new and expanded advertising and marketing efforts, such as the Company's on-line efforts through Cardstore.com;
  • the impact and availability of technology, including social media, on product sales;
  • escalation in the cost of providing employee health care;
  • the Company's ability to achieve the desired accretive effect from any share repurchase programs;
  • the Company's ability to comply with its debt covenants;
  • fluctuations in the value of currencies in major areas where the Company operates, including the U.S. Dollar, Euro, U.K. Pound Sterling, and Canadian Dollar; and
  • the outcome of any legal claims known or unknown.

Risks pertaining specifically to AG Interactive include the viability of online advertising, subscriptions as revenue generators, and the ability to adapt to rapidly changing social media and the digital photo sharing space.

In addition, this release contains time-sensitive information that reflects management's best analysis as of the date of this release; however the risks and uncertainties identified above are not the only risks the Company faces.  Additional risks and uncertainties not presently known to the Company or that the Company believes to be immaterial also may adversely affect American Greetings.  Should any known or unknown risks or uncertainties develop into actual events, or underlying assumptions prove inaccurate, these developments could have a material adverse effect on our business, financial condition and results of operations.  American Greetings does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.  Further information concerning issues that could materially affect performance related to forward-looking statements can be found in the Company's periodic filings with the Securities and Exchange Commission, including without limitation the risk factors described in the Company's most recent annual report on Form 10-K and in each of its subsequent quarterly reports on Form 10-Q.













AMERICAN GREETINGS CORPORATION

THIRD QUARTER CONSOLIDATED STATEMENT OF OPERATIONS

FISCAL YEAR ENDING FEBRUARY 28, 2013

























(In thousands of dollars except share and per share amounts)


















(Unaudited)






Three Months Ended


Nine Months Ended






November 23,
2012


November 25,
2011


November 23,
2012


November 25,
2011













Net sales



$     499,368


$     458,535


$  1,275,139


$  1,217,800

Other revenue



7,446


6,472


18,617


21,097

Total revenue



506,814


465,007


1,293,756


1,238,897













Material, labor and other production costs



244,071


230,572


584,667


546,699

Selling, distribution and marketing expenses



190,041


141,501


466,199


392,630

Administrative and general expenses



74,483


60,510


225,521


186,734

Other operating income - net



(2,217)


(813)


(1,421)


(6,858)













Operating income



436


33,237


18,790


119,692













Interest expense



4,504


5,821


13,314


17,708

Interest income



(65)


(207)


(297)


(838)

Other non-operating (income) expense - net



(1,904)


(2,077)


3,523


(2,621)













(Loss) income before income tax (benefit) expense



(2,099)


29,700


2,250


105,443

Income tax (benefit) expense 



(1,290)


9,454


63


38,128













Net (loss) income



$          (809)


$      20,246


$        2,187


$      67,315

























(Loss) earnings per share - basic





$         (0.03)


$          0.51


$          0.06


$          1.67

























(Loss) earnings per share - assuming dilution



$         (0.03)


$          0.50


$          0.06


$          1.63

























Average number of common shares outstanding



31,877,088


39,480,798


33,712,073


40,226,039













Average number of common shares outstanding - 










assuming dilution



31,877,088


40,436,865


34,478,737


41,381,157













Dividends declared per share                        



$          0.15


$          0.15


$          0.45


$          0.45

























 

  












AMERICAN GREETINGS CORPORATION

THIRD QUARTER CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FISCAL YEAR ENDING FEBRUARY 28, 2013












(In thousands of dollars)
















(Unaudited)





Three Months Ended


Nine Months Ended





November 23,
2012


November 25,
2011


November 23,
2012


November 25,
2011












Net (loss) income


$          (809)


$      20,246


$        2,187


$      67,315












Other comprehensive income (loss), net of tax:









    Foreign currency translation adjustments


2,680


(15,592)


(91)


(12,554)

    Pension and postretirement benefit adjustments


145


536


643


607

    Unrealized loss on securities


-


(1)


(1)


-

Other comprehensive income (loss), net of tax:


2,825


(15,057)


551


(11,947)

Comprehensive income 


$        2,016


$        5,189


$        2,738


$      55,368












 

 

AMERICAN GREETINGS CORPORATION


THIRD QUARTER CONSOLIDATED STATEMENT OF FINANCIAL POSITION


FISCAL YEAR ENDING FEBRUARY 28, 2013














(In thousands of dollars)










(Unaudited)










November 23,
2012


November 25,
2011














ASSETS










CURRENT ASSETS










Cash and cash equivalents




$           63,291


$           85,661



Trade accounts receivable, net



197,844


235,318



Inventories






264,330


214,412



Deferred and refundable income taxes



80,502


57,400



Prepaid expenses and other



155,543


123,481




Total current assets




761,510


716,272














GOODWILL






-


27,713


OTHER ASSETS





460,647


417,479


DEFERRED AND REFUNDABLE INCOME TAXES


120,870


128,595














Property, plant and equipment - at cost



1,004,686


904,555


Less accumulated depreciation




642,994


637,334


PROPERTY, PLANT AND EQUIPMENT - NET


361,692


267,221










$      1,704,719


$      1,557,280


























LIABILITIES AND SHAREHOLDERS' EQUITY






CURRENT LIABILITIES









Accounts payable




$         194,945


$         108,254



Accrued liabilities




82,893


67,596



Accrued compensation and benefits



60,702


58,411



Income taxes payable




14,641


26,626



Deferred revenue




26,404


29,477



Other current liabilities




44,287


60,963




Total current liabilities




423,872


351,327














LONG-TERM DEBT





356,832


234,642


OTHER LIABILITIES





259,787


182,565


DEFERRED INCOME TAXES AND







  NONCURRENT INCOME TAXES PAYABLE


21,008


21,769














SHAREHOLDERS' EQUITY









Common shares - Class A




28,849


35,562



Common shares - Class B




2,860


2,778



Capital in excess of par value



520,119


509,999



Treasury stock





(1,093,789)


(995,338)



Accumulated other comprehensive loss



(11,279)


(14,293)



Retained earnings




1,196,460


1,228,269




Total shareholders' equity



643,220


766,977










$      1,704,719


$      1,557,280














 

AMERICAN GREETINGS CORPORATION

THIRD QUARTER CONSOLIDATED STATEMENT OF CASH FLOWS

FISCAL YEAR ENDING FEBRUARY 28, 2013

(In thousands of dollars)


















(Unaudited)








Nine Months Ended








November 23, 2012


November 25, 2011











OPERATING ACTIVITIES:







Net income




$            2,187


$           67,315


Adjustments to reconcile net income

to cash flows from operating activities:







Stock-based compensation


7,806


8,038



Gain on dispositions



-


(4,500)



Net loss (gain) on disposal of fixed assets


394


(807)



Depreciation and intangible assets amortization

36,095


32,993



Provision for doubtful accounts


17,771


4,879



Impairment of Clinton Cards debt


10,043


-



Deferred income taxes



809


6,412



Gain on sale of Party City investment


(4,293)


-



Other non-cash charges



892


2,747



Changes in operating assets and liabilities,








    net of acquisitions:









Trade accounts receivable


(101,363)


(122,298)




Inventories



(39,105)


(30,939)




Other current assets



(17,877)


6,470




Income taxes



(15,336)


3,362




Deferred costs - net



23,702


(3,838)




Accounts payable and other liabilities


112,283


3,528




Other - net



(1,913)


98



Total Cash Flows From Operating Activities


32,095


(26,540)











INVESTING ACTIVITIES:







Property, plant and equipment additions


(87,408)


(48,956)


Cash payments for business acquisitions, net of cash acquired

621


(5,899)


Proceeds from sale of fixed assets


559


9,046


Proceeds from sale of intellectual properties


-


4,500


Proceeds from sale of Party City investment


4,920


-


Purchase of Clinton Cards debt


(56,560)


-



Total Cash Flows From Investing Activities


(137,868)


(41,309)











FINANCING ACTIVITIES:







Net increase in long-term debt


131,651


-


Issuance or exercise of share-based payment awards

(496)


12,293


Tax (deficiency) benefit from share-based payment awards

(376)


2,380


Purchase of treasury shares



(78,742)


(55,304)


Dividends to shareholders



(15,182)


(18,146)



Total Cash Flows From Financing Activities


36,855


(58,777)











EFFECT OF EXCHANGE RATE CHANGES ON CASH

(229)


(3,551)











DECREASE IN CASH AND CASH EQUIVALENTS


(69,147)


(130,177)













Cash and Cash Equivalents at Beginning of Year

132,438


215,838



Cash and Cash Equivalents at End of Period


$           63,291


$           85,661











 

AMERICAN GREETINGS CORPORATION

THIRD QUARTER CONSOLIDATED SEGMENT DISCLOSURES

FISCAL YEAR ENDING FEBRUARY 28, 2013

(In thousands of dollars)


















(Unaudited)






Three Months Ended


Nine Months Ended






November 23, 2012


November 25, 2011


November 23, 2012


November 25, 2011

Total Revenue:











North American Social Expression Products

$         333,852


$         333,305


$         908,267


$         902,333













International Social Expression Products

101,972


103,352


239,486


249,448

Intersegment items



(25,538)


-


(39,080)


-

Net





76,434


103,352


200,406


249,448













Retail Operations (1)



67,635


-


107,519


-













AG Interactive




15,982


16,878


47,255


49,664













Non-reportable segments



12,911


11,472


30,309


37,452


















$         506,814


$         465,007


$      1,293,756


$      1,238,897

























Segment (Loss) Earnings:









North American Social Expression Products

$           22,099


$           28,016


$           98,757


$         113,009













International Social Expression Products

3,413


9,537


(18,855)


15,308

Intersegment items



(4,123)


-


(11,525)


-

Net





(710)


9,537


(30,380)


15,308













Retail Operations (1)



(11,473)


-


(16,579)


-













AG Interactive




5,331


3,737


13,713


10,970













Non-reportable segments



3,259


2,368


5,501


17,467













Unallocated




(20,605)


(13,958)


(68,762)


(51,311)


















$           (2,099)


$           29,700


$            2,250


$         105,443

























(1) Retail Operations segment only includes five months of activity


















AMERICAN GREETINGS CORPORATION


SUPPLEMENTAL EXHIBIT


(Dollars in millions)
























During the nine months ended November 23, 2012, the Corporation recorded certain charges associated with activities and transactions related to Clinton Cards PLC ("Clinton Cards") that do not have comparative amounts in the prior year period.  









































(Unaudited)







Three Months Ended







November 23, 2012


















Contract asset impairment


Bad debt expense


Legal and advisory fees


Impairment of debt purchased


Total


Net sales

$               -


$      -


$                        -


$                -


$   -


Administrative and general expenses

-


-


0.3


-


0.3


Other non-operating expense

-


-


-


-


-



$               -


$      -


$                      0.3


$                -


$  0.3





























(Unaudited)







Nine Months Ended







November 23, 2012


















Contract asset impairment


Bad debt expense


Legal and advisory fees


Impairment of debt purchased


Total


Net sales

$             4.0


$      -


$                        -


$                -


$  4.0


Administrative and general expenses

-


17.2


6.3


-


23.5


Other non-operating expense

-


-


-


10.0


10.0



$             4.0


$   17.2


$                      6.3


$             10.0


$37.5













 

SOURCE American Greetings Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the technology industry and how do they see opportunities for other women in their area of expertise.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
“With easy-to-use SDKs for Atmel’s platforms, IoT developers can now reap the benefits of realtime communication, and bypass the security pitfalls and configuration complexities that put IoT deployments at risk,” said Todd Greene, founder & CEO of PubNub. PubNub will team with Atmel at CES 2015 to launch full SDK support for Atmel’s MCU, MPU, and Wireless SoC platforms. Atmel developers now have access to PubNub’s secure Publish/Subscribe messaging with guaranteed ¼ second latencies across PubNub’s 14 global points-of-presence. PubNub delivers secure communication through firewalls, proxy ser...
We’re no longer looking to the future for the IoT wave. It’s no longer a distant dream but a reality that has arrived. It’s now time to make sure the industry is in alignment to meet the IoT growing pains – cooperate and collaborate as well as innovate. In his session at @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine the key ingredients to IoT success and identify solutions to challenges the industry is facing. The deep industry expertise behind this presentation will provide attendees with a leading edge view of rapidly emerging IoT oppor...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...