Welcome!

Microsoft Cloud Authors: Pat Romanski, Srinivasan Sundara Rajan, Glenn Rossman, Janakiram MSV, Steven Mandel

News Feed Item

WSP Holdings Announces Third Quarter 2012 Results

 

WUXI, China, Dec. 27, 2012 /PRNewswire/ -- WSP Holdings Limited (NYSE: WH) ("WSP Holdings" or the "Company"), a leading Chinese manufacturer of API (American Petroleum Institute) and non-API seamless casing, tubing and drill pipes used in oil and natural gas exploration, drilling and extraction ("Oil Country Tubular Goods" or "OCTG"), and other pipes and connectors, today announced its unaudited financial results for the third quarter ended September 30, 2012.

Third Quarter 2012 Highlights

(Comparison with the second quarter of 2012 and the third quarter of 2011)








Q3 2012

Q2 2012

Q-o-Q

Q3 2011

Y-o-Y

Net revenues ($ million)

141.3

159.2

-11.3%

189.0

-25.2%

Gross profit (loss) ($ million)

7.8

7.6

2.5%

16.9

-53.9%

Gross margin (% of net revenues)

5.5%

4.8%

-

9.0%

-

Loss from operations ($ million)

(17.8)

(7.9)

-126.6%

(6.4)

-179.1%

Net loss attributable to WSP Holdings Limited ($ million)

(22.7)

(15.7)

-45.0%

(16.6)

-37.3%

Loss per ADS ($)(1)

(1.11)

(0.77)

-44.2%

(0.81)

-37.0%

 

(1) ADS amounts adjusted for a change in the ratio of the Company's American Depositary Shares ("ADSs") to ordinary shares from 1:2 to 1:10, effective as of February 15, 2012.

"The third quarter of 2012 showed a decrease in total revenues from the second quarter of 2012, mainly due to a decrease in export sales of API products and a decrease in average product selling prices quarter-over-quarter." commented Mr. Longhua Piao, the Chairman and Chief Executive Officer of WSP Holdings. "We will continue our marketing efforts to tap into new international markets amidst the current global economic uncertainties."

Financial Results

Third Quarter 2012 Financial Results

(Comparison with the second quarter of 2012 and the third quarter of 2011)







Net revenues ($ million)

Q3 2012

Q2 2012

Q-o-Q

Q3 2011

Y-o-Y

API

95.8

112.7

-14.9%

120.8

-20.7%

Non-API

25.8

25.5

1.0%

50.3

-48.7%

Others

19.7

21.0

-6.4%

17.9

9.8%

Total

141.3

159.2

-11.3%

189.0

-25.2%

Domestic

74.6

76.7

-2.8%

88.5

-15.8%

Export

66.7

82.5

-19.1%

100.5

-33.6%







Sales volume (tonnes)

Q3 2012

Q2 2012

Q-o-Q

Q3 2011

Y-o-Y

API

87,154

96,150

-9.4%

103,917

-16.1%

Non-API

14,601

14,738

-0.9%

22,555

-35.3%

Others

26,672

19,638

35.8%

31,478

-15.3%

Total

128,427

130,526

-1.6%

157,950

-18.7%

Domestic

82,659

73,724

12.1%

100,734

-17.9%

Export

45,768

56,802

-19.4%

57,216

-20.0%

WSP Holdings reported revenues of $141.3 million in the third quarter of 2012, compared to $159.2 million in the second quarter of 2012, primarily due to a decrease in revenues generated from export sales. Domestic sales and export sales accounted for 52.8% and 47.2%, respectively, of total revenues for the third quarter of 2012.

On a quarter-over-quarter basis, domestic sales decreased primarily due to a 13.3% decrease in average selling prices, partially offset by a 12.1% increase in domestic sales volume. Export sales decreased quarter-over-quarter primarily due to a 19.4% decrease in export sales volume, which was largely attributable to a decrease in sales of API products.

On a year-over-year basis, domestic sales decreased primarily due to a 17.9% decrease in domestic sales volume, partially offset by a 2.7% increase in average selling prices. Export sales decreased year-over-year primarily due to a 20.0% decrease in export sales volume and a 17.0% decrease in average selling prices.

API and non-API product sales accounted for 67.8% and 18.2%, respectively, of total revenues in the third quarter of 2012. Lower quarter-over-quarter sales revenues from API product sales were primarily due to a 9.4% decrease in sales volume and a 6.2% decrease in average selling prices. Non-API sales revenues increased quarter-over-quarter due to a 1.9% increase in average selling prices.

API sales revenues decreased year-over-year primarily due to a 16.1% decrease in sales volume and a 5.4% decreased in average selling prices. Non-API sales decreased year-over-year primarily due to a 35.3% decrease in sales volume and a 20.8% decreased in average selling prices.

Gross margin in the third quarter of 2012 was 5.5%, compared to 4.8% in the second quarter of 2012 and 9.0% in the third quarter of 2011. Higher quarter-over-quarter gross margins were primarily due to decreases in raw material costs, which resulted in lower costs of revenues in the third quarter of 2012. Lower year-over-year gross margins were primarily due to a decrease in average selling prices.

Operating expenses in the third quarter of 2012 were $25.6 million, compared to $15.5 million in the second quarter of 2012 and $23.3 million in the third quarter of 2011. Selling and marketing expenses were $3.7 million, compared to $4.3 million in the second quarter of 2012 and $8.3 million in the third quarter of 2011. General and administrative expenses were $23.3 million, compared to $11.7 million in the second quarter of 2012 and $19.3 million in the third quarter of 2011. The quarter-over-quarter increases in general and administrative expenses were mainly due to an impairment loss of approximately $4.6 million from the sale of the fixed assets of one of the Company's subsidiaries that were classified as assets held for sale as of September 30, 2012, bad debt provisions and cost increases due to production stoppage in the third quarter of 2012. The production stoppage cost relates to the related expenses of some production equipment that did not engage in production during the period. The related cost has been reclassified as administrative cost.

Loss from operations was $17.8 million in the third quarter of 2012, compared to loss from operations of $6.4 million in the third quarter of 2011 and $7.9 million in the second quarter of 2012.

Net interest expense was $9.5 million in the third quarter of 2012, compared to $10.6 million in the third quarter of 2011 and $10.0 million in the second quarter of 2012.

The Company recorded an income tax benefit of $1.5 million in the third quarter of 2012, compared to $0.5 million in the third quarter of 2011 and $0.3 million in the second quarter of 2012, respectively.

Net loss attributable to WSP Holdings was $22.7 million in the third quarter of 2012, compared to net loss attributable to WSP Holdings of $16.6 million in the third quarter of 2011 and $15.7 million in the second quarter of 2012.

Basic and diluted loss per ADS were both $1.11 in the third quarter of 2012, compared to basic and diluted loss per ADS for both of $0.81 in the third quarter of 2011 and $0.77 in the second quarter of 2012.

Nine Month Results

Revenues for the first nine months of 2012 were $429.9 million, a decrease of 15.0% from revenues of $505.7 million in the first nine months of 2011. Gross profit was $18.1 million for the first nine months of 2012, compared to gross profit of $35.5 million for the first nine months of 2011. Gross margin was 4.2% for the first nine months of 2012, compared to 7.0% for the first nine months of 2011. Operating loss was $37.0 million for the first nine months of 2012, compared to operating loss of $25.0 million for the first nine months of 2011. Net loss attributable to WSP Holdings was $55.0 million for the first nine months of 2012, compared to net loss attributable to WSP Holdings of $49.5 million for the first nine months of 2011. Basic and diluted loss per ADS were both $2.69 for the first nine months of 2012, compared to basic and diluted loss per ADS for both of $2.42 in the first nine months of 2011.

Financial Condition

As of September 30, 2012, the Company had cash and cash equivalents of $30.2 million, compared to $27.7 million as of December 31, 2011. Restricted cash totaled $209.4 million as of September 30, 2012, compared to $249.8 million as of December 31, 2011. As of September 30, 2012, the Company had short-term borrowings of $807.7 million and long-term borrowings of $20.5 million, compared to $773.5 million and $79.4 million, respectively, as of December 31, 2011. As of September 30, 2012, one of the Company's major operating subsidiaries had drawn down approximately RMB2.7 billion ($431.4 million) out of the total approved syndicated loan facility of RMB2.86 billion (approximately $451.0 million as of September 30, 2012) entered into with eight commercial banks in late August 2011, allowing it to replace certain of its existing short-term borrowings with mid-term working capital loans. The subsidiary is subject to continued compliance with certain bank loan covenants, including maintaining certain financial ratios and thresholds at the end of a one-year special observation period and at the end of 2012. As of June 30, 2012, the subsidiary did not meet certain financial covenants under the syndicated loan facility agreement during the special observation period. The bank syndicate has waived the aforementioned breaches of financial covenants during the observation period and agreed to continue to fulfill the terms of the syndicated loan facility. As of September 30, 2012, we believe that the subsidiary will also be unlikely to meet certain financial covenants at the end of 2012. Additionally, two other subsidiaries of the Company are also in breach of their financial covenants under project loans. As of September 30, 2012, the Company's short-term borrowings include loans not due within one year of $209.8 million that were reclassified as short-term borrowings due to technical breaches of covenants of these loans. The Company's lenders have not accelerated the repayment of their loans under these credit facilities. In the event that the Company is unable to reach an agreement with these lenders, the lenders may accelerate the repayment of the loans and the Company's ability to draw down under these credit facilities may be affected.

Accounts receivable and inventory totaled $192.8 million and $225.3 million, respectively, as of September 30, 2012, compared to $260.1 million and $242.2 million, respectively, as of December 31, 2011. As of September 30, 2012, total assets were $1,425.3 million, total liabilities were $1,242.4 million and total equity was $182.9 million.

Capital expenditures incurred for the nine months ended September 30, 2012 were $28.6 million and were funded mainly through the Company's operating cash flow and bank loans. The Company has almost completed its major capital expenditure projects and will continue to reevaluate and revise its capital expenditure plan based on the prevailing economic conditions and future expectations, as well as the availability of funding.

Operational Environment and Business Outlook

Crude oil prices have traded above $80 a barrel in December 2012, having hovered above the $100 mark since mid-February 2012, and are expected to continue fluctuating due to the ongoing European debt crisis and heightened global economic uncertainty.

On the international front, WSP Holdings continues to pursue new opportunities and broaden its customer base in South America, the Middle East, Central Asia and Africa, which provide opportunities for sales growth. On the domestic front, WSP Holdings continues to develop and launch new series of non-API products for commercial use and focus mainly on customers in areas such as Xinjiang Autonomous Region, Sichuan Province and Shaanxi Province, which provide opportunities for sales of higher-margin, non-API products.

Conference Call

WSP Holdings' management will host a conference call at 9:00 a.m. Eastern Time on December 27, 2012 to discuss its unaudited financial results for the third quarter of 2012. To participate in this live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 866-519-4004. International callers should call +1-718-354-1231. The conference pass code is 841 791 14. A replay of the conference call will be available from 12:00 p.m. ET on December 27, 2012 to 11:59 p.m. ET on January 3, 2013. To access the replay, call 646-254-3697. International callers should call +1 855-452-5696. The conference pass code is 841 791 14. This conference call will also be broadcast live over the Internet and can be accessed by all interested parties on WSP Holdings' IR website: http://ir.wsphl.com/. To listen to the live webcast, please go to WSP Holdings' IR website at least fifteen minutes prior to the start of the call to register, download and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on WSP Holdings' IR website for 90 days.

About WSP Holdings Limited

WSP Holdings develops and manufactures seamless Oil Country Tubular Goods (OCTG), including seamless casing, tubing and drill pipes used for on-shore and off-shore oil and gas exploration, drilling and extraction, and other pipes and connectors. Founded as WSP China in 1999, the Company offers a wide range of API and non-API seamless OCTG products, including products that are used in extreme drilling and extraction conditions. The Company's products are used in China's major oilfields and are exported to oil producing regions throughout the world. For further information, please visit WSP Holdings' website at http://www.wsphl.com/.

Safe Harbor Statements

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the Company's outlook and quotations from management in this announcement contain forward-looking statements. A number of factors could cause actual results to differ materially from those contained in the forward-looking statement. Such factors include, but are not limited to, changes in anticipated level of sales, changes in national or regional economic and competitive conditions, changes in the Company's relationships with customers, the Company's ability to develop and market new products, the Company's ability to access capital for expansion, changes in principal product revenues and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release was developed by the Company, and is intended solely for informational purposes and is not to be construed as an offer or solicitation of an offer to buy or sell the Company's stock. This press release also contains statements or projections that are based upon information available to the public, as well as other information from sources which management believes to be reliable, but it is not guaranteed by the Company to be accurate, nor does WSP Holdings purport it to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.

- Financial Tables Follow –

WSP HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except for share and share-related data)












3 Months Ended September 30,
2012

3 Months Ended September 30,
2011

9 Months Ended
September 30,
2012

 9 Months Ended
September 30,
2011






Net revenues                                                              

$ 141,278

$ 188,971

$ 429,946

$ 505,704

Cost of revenues

(133,470)

(172,026)

(411,854)

(470,159)

Gross profit

7,808

16,945

18,092

35,545






Selling and marketing expenses

(3,727)

(8,341)

(10,959)

(19,915)

General and administrative expenses

(23,344)

(19,262)

(51,873)

(45,679)

Gain on disposal of subsidiary

5

3,255

2,523

3,255

Other operating income

1,443

1,020

5,242

1,804

Loss from operations

(17,815)

(6,383)

(36,975)

(24,990)

Interest income

901

554

4,236

2,507

Interest expenses

(10,398)

(11,187)

(34,339)

(30,494)

Other income


191

64

575

Exchange differences

2,209

(2,433)

2,398

(3,000)

Loss before benefit from income taxes

(25,103)

(19,258)

(64,616)

(55,402)

Benefit from (provision for) income taxes

1,455

472

5,551

(793)






Net loss before earnings in equity investment

(23,648)

(18,786)

(59,065)

(56,195)

Earnings (loss) in equity investment

(39)

(12)

82

(233)

Net loss

(23,687)

(18,798)

(58,983)

(56,428)

Net loss attributable to the non-controlling interests

940

2,236

3,937

6,879

Net loss attributable to WSP Holdings Limited

$ (22,747)

$ (16,562)

$ (55,046)

$ (49,549)











Weighted average ordinary shares used in computation of loss per share:





Basic

204,375,226

204,375,226

204,375,226

204,375,226

Diluted

204,375,226

204,375,226

204,375,226

204,375,226






Loss Per Ordinary Share





Basic

$ (0.11)

$ (0.08)

$ (0.27)

$ (0.24)

Diluted

$ (0.11)

$ (0.08)

$ (0.27)

$ (0.24)






Loss Per ADS(1)





Basic

$ (1.11)

$ (0.81)

$ (2.69)

$ (2.42)

Diluted

$ (1.11)

$ (0.81)

$ (2.69)

$ (2.42)


1 ADS amounts adjusted for a change in the ratio of its American Depositary Shares ("ADSs") to ordinary shares ("Shares") from 1:2 to 1:10 ("Ratio Change"), effective as of February 15, 2012.

 


WSP HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)





September 30, 2012

December 31, 2011




Assets



Cash and cash equivalents

$  30,162

$  27,742

Restricted cash

209,396

249,812

Accounts and bills receivable, net

192,753

260,139

Assets held for sale

43,000

20,314

Other current assets

295,671

308,555

Total Current Assets

770,982

866,562




Property and equipment, net

598,151

653,783

Prepaid lease payments for land use rights,

34,119

32,957

 non-current

Other non-current assets

22,018

17,814

Total Assets

$  1,425,270

$  1,571,116







Liabilities



Accounts payables

$  315,786

$  307,740

Borrowings due within one year

807,712

773,541

Liabilities held for sale


47,559

Other current liabilities

82,565

116,160

Total Current Liabilities

1,206,063

1,245,000




Borrowings due after one year

20,501

79,354

Other non-current liabilities

15,823

15,380

Total Liabilities

$  1,242,387

$  1,339,734







Total WSP Holdings Limited shareholders' equity

179,915

233,873

Non-controlling interests

2,968

(2,491)

Total equity

182,883

231,382

Total Liabilities and Equity

$  1,425,270

$  1,571,116

 

Contact:


WSP Holdings Limited

CCG Investor Relations, Inc.

Ms. Judy Zhu, IR Director

Mr. Crocker Coulson, President

Phone: +86-510-8536-0401

Phone: +1-646-213-1915 (Los Angeles)

E-mail: [email protected]

E-mail: [email protected]

http://www.wsphl.com

http://www.ccgirasia.com

  

SOURCE WSP Holdings Limited

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
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...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. 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 dev...
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Big Data has been changing the world. IoT fuels the further transformation recently. How are Big Data and IoT related? In his session at @BigDataExpo, Tony Shan, a renowned visionary and thought leader, will explore the interplay of Big Data and IoT. He will anatomize Big Data and IoT separately in terms of what, which, why, where, when, who, how and how much. He will then analyze the relationship between IoT and Big Data, specifically the drilldown of how the 4Vs of Big Data (Volume, Variety,...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...