Welcome!

.NET Authors: Srinivasan Sundara Rajan, Nitin Bandugula, Pat Romanski, Yakov Fain, Elizabeth White

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
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.
SYS-CON Media announced that Cisco, a worldwide leader in IT that helps companies seize the opportunities of tomorrow, has launched a new ad campaign in Cloud Computing Journal. The ad campaign, a webcast titled 'Is Your Data Center Ready for the Application Economy?', focuses on the latest data center networking technologies, including SDN or ACI, and how customers are using SDN and ACI in their organizations to achieve business agility. The Cisco webcast is available on-demand.
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science from the University of California, Berkeley.
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness, and in-car entertainment and this excitement will bleed into other areas. On the commercial side, m...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. He discussed opportunities and challenges ahead for the IoT from a market and technical point of vie...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP and chief architect at BSQUARE Corporation; Seth Proctor, CTO of NuoDB, Inc.; and Andris Gailitis, C...
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
"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.
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.
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.
“The age of the Internet of Things is upon us,” stated Thomas Svensson, senior vice-president and general manager EMEA, ThingWorx, “and working with forward-thinking companies, such as Elisa, enables us to deploy our leading technology so that customers can profit from complete, end-to-end solutions.” ThingWorx, a PTC® (Nasdaq: PTC) business and Internet of Things (IoT) platform provider, announced on Monday that Elisa, Finnish provider of mobile and fixed broadband subscriptions, will deploy ThingWorx® platform technology to enable a new Elisa IoT service in Finland and Estonia.
Advanced Persistent Threats (APTs) are increasing at an unprecedented rate. The threat landscape of today is drastically different than just a few years ago. Attacks are much more organized and sophisticated. They are harder to detect and even harder to anticipate. In the foreseeable future it's going to get a whole lot harder. Everything you know today will change. Keeping up with this changing landscape is already a daunting task. Your organization needs to use the latest tools, methods and expertise to guard against those threats. But will that be enough? In the foreseeable future attacks w...
As enterprises move to all-IP networks and cloud-based applications, communications service providers (CSPs) – facing increased competition from over-the-top providers delivering content via the Internet and independently of CSPs – must be able to offer seamless cloud-based communication and collaboration solutions that can scale for small, midsize, and large enterprises, as well as public sector organizations, in order to keep and grow market share. The latest version of Oracle Communications Unified Communications Suite gives CSPs the capability to do just that. In addition, its integration ...
SYS-CON Events announced today that ActiveState, the leading independent Cloud Foundry and Docker-based PaaS provider, has been named “Silver Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. ActiveState believes that enterprises gain a competitive advantage when they are able to quickly create, deploy and efficiently manage software solutions that immediately create business value, but they face many challenges that prevent them from doing so. The Company is uniquely positioned to help address these challenges thro...
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...