Welcome!

.NET Authors: Jim Kaskade, Adine Deford, TJ Randall, Sandi Mappic, Ivan Antsipau

News Feed Item

CPI Corp. Announces 2012 Third-Quarter Results

ST. LOUIS, Dec. 31, 2012 /PRNewswire/ -- CPI Corp. (OTCQX: CPIC) today reported the results for the fiscal 2012 third quarter ended November 10, 2012.

  • Fiscal 2012 third-quarter net sales declined 26% to $69.5 million from $94.6 million in the prior-year third quarter.
    • Third-quarter PictureMe Portrait Studio® brand comparable store sales, described herein, decreased 15% versus the same period last year.
    • Third-quarter Sears Portrait Studio brand comparable store sales, described herein, decreased 21% versus the same period last year.
    • Third-quarter Kiddie Kandids® comparable store sales, described herein, decreased 13% versus the same period last year.
  • Fiscal 2012 third-quarter Adjusted EBITDA (see reconciliation below) improved to a loss of ($4.7) million from a loss of ($7.0) million in the prior-year third quarter primarily due to cost reductions at the corporate and field levels.
  • Fiscal 2012 third-quarter diluted EPS declined to a loss of ($2.81) per share from a loss of ($1.03) per share in the prior-year period primarily due to comparable store sales declines, impairments and certain other charges.

Liquidity Update
Since late in fiscal 2011, the Company has had on-going discussions with its lenders to obtain covenant compliance waivers to cure defaults under its Credit Agreement as well as increases to the available borrowing capacity.  These discussions have resulted in a number of amendments to the Credit Agreement, the most significant of which is an acceleration of the Credit Agreement's maturity date to December 31, 2012 and the Company's engagement of an investment bank to solicit offers for a sale transaction involving the Company.

As of November 10, 2012, the Company was not in compliance with certain provisions of its Credit Agreement, as amended, including the Minimum Period Cumulative EBITDAR covenant and certain studio closure and lease abandonment provisions.  Since that time, the Company has also fallen out of compliance with several additional covenants and such noncompliance exists as of today.

The Credit Agreement and amounts owed thereunder are currently due and the Company does not have sufficient resources to repay these amounts.  The Company is currently negotiating a forbearance agreement under which it is expected that the lenders will forbear from exercising their rights and remedies under the Credit Agreement until mid-January, subject to the Company's compliance with certain conditions.  There can be no assurances that the lenders will grant such waivers or amendments on commercially reasonable terms, if at all.  If the Company is unable to secure these additional amendments to the Credit Agreement, the Company may be forced into an orderly liquidation or bankruptcy.  The outcome of restructuring and sale initiatives required by the Credit Agreement, as amended, is uncertain and involves matters that are outside of the Company's control.

The Company's interim financial information has been prepared assuming that it will continue as a going concern; however, the conditions noted above raise substantial doubt about the Company's ability to do so.  The interim financial information does not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount of and classification of liabilities that may result should the Company be unable to continue as a going concern.

Third-Quarter 2012 Results
The Company reported a net loss of ($20.2) million and ($7.3) million, or ($2.81) and ($1.03) per diluted share, for the third quarters ended November 10, 2012, and November 12, 2011, respectively.  Earnings in the period were significantly affected by comparable store sales declines, impairments and certain other charges.  Adjusted EBITDA improved to ($4.7) million in the third quarter of 2012 from ($7.0) million in the prior year third quarter.

Net sales for the third quarter of fiscal 2012 decreased ($25.1) million, or (26.50)%, to $69.5 million from the $94.6 million reported in the fiscal 2011 third quarter.  Net sales for the 2012 third quarter were negatively impacted by net studio closings ($10.5 million), net revenue recognition change ($2.4 million), Bella Pictures® operations ($1.9 million) and other items ($256,000).  Excluding the above impacts, comparable same-store sales in the quarter decreased approximately 13%.

Net sales from the Company's PictureMe Portrait Studio® (PMPS) brand, on a comparable same-store basis, excluding impacts of net revenue recognition change, studio closures and other items totaling $4.3 million, decreased 15% in the third quarter of 2012 to $36.8 million from $43.2 million in the third quarter of 2011.  The decrease in PMPS sales for the third quarter was the result of a 14% decline in the average sale per customer sitting and a 1% decline in the number of sittings.

Net sales from the Company's Sears Portrait Studio (SPS) brand, on a comparable same-store basis, excluding impacts of net revenue recognition change, studio closures and other items totaling $0.6 million, decreased 21% in the third quarter of 2012 to $29.1 million from $36.9 million in the third quarter of 2011.  The decrease in SPS sales for the third quarter was the result of a 14% decline in the average sale per customer sitting and a 8% decline in the number of sittings.

Net sales from the Company's Kiddie Kandids® (KK) studio operations, on a comparable same-store basis, excluding impacts of net revenue recognition change, studio closures and other items totaling $3.4 million, decreased 13% in the third quarter of 2012 to $2.6 million from $2.9 million in the third quarter of 2011.  The decrease in KK sales for the third quarter was the result of a 12% decline in the average sale per customer sitting and a 2% decline in the number of sittings.

The Bella Pictures® operations contributed approximately $1.7 million in net sales in the third quarter of 2012, down 54% from net sales of $3.6 million in the third quarter of 2011.  Effective in the second quarter of fiscal year 2012, the Company no longer pursued the business model and on December 17, 2012, the Company sold the Bella Pictures® tradename, certain assets and all remaining customer contracts.  The sale will result in a net cash payout of approximately $195,000, primarily related to customer deposits received on open contracts.  Also in the second quarter of 2012, the Company discontinued its Portrait Gallery from Bella Pictures operations.

Excluding the effects of impairments and other charges in both periods, costs and expenses were $76.2 million in the third quarter of 2012, a 28% decline from $106.1 million reported in the comparable prior-year period.

Cost of sales, excluding depreciation and amortization expense, decreased to $7.0 million in the third quarter of 2012 from $8.6 million in the third quarter of 2011 primarily due to lower overall production levels, offset in part by a higher-cost product mix and higher shipping charges resulting from certain promotional events.

Selling, general and administrative expense declined to $67.2 million in the third quarter of 2012 from $92.9 million in the third quarter of 2011, primarily due to net reductions in studio, field and corporate employment costs, lower host commission expense due to lower sales levels and reduced advertising expenses, partially offset by increased employee insurance costs.

Depreciation and amortization expense was $2.0 million in the third quarter of 2012, compared with $4.6 million in the third quarter of 2011.  Expense decreased in 2012 primarily as a result of significant impairment charges recognized during the fourth quarter of fiscal year 2011 and throughout fiscal year 2012, which resulted in lowering or eliminating the depreciable base on many of the Company's long-lived assets.  The Company also sold a number of properties during fiscal year 2012, which is contributing to the decrease in depreciation expense in the third quarter of 2012.

Impairment charges in the third quarter of 2012 were $4.0 million and consisted of $0.8 million and $3.2 million in charges related to the impairment of certain long-lived property and equipment and certain intangible long-lived assets, respectively.

In the third quarter of 2012, the Company recognized $3.1 million in other charges, compared with $699,000 in the third quarter of 2011.  The current-quarter charges primarily relate to costs incurred in connection with the debt renegotiation and costs incurred as the Company winds down its Bella Pictures® operation.  The prior-year charges primarily related to severance and certain litigation costs.

Net interest expense increased to $6.1 million in the third quarter of 2012 from $1.3 million in the third quarter of fiscal 2011, primarily as the result of higher average borrowings, the write-off of certain prepaid debt fees and higher interest charges and fees resulting from the Second Amendment to the Credit Agreement.

Income tax expense was $176,000 in the third quarter of 2012 compared to an income tax benefit of $7.4 million in the third quarter of 2011.  The resulting effective tax rates were (1)% and 54% in 2012 and 2011, respectively.  Beginning in the fourth quarter of fiscal 2011, the Company established valuation allowances against all of its deferred tax assets.  Income tax expense in the third quarter of 2012 is the result of current income taxes payable in certain foreign taxing jurisdictions.  In the third quarter of 2011, income taxes were impacted by a change in the annualized effective tax rate, as well as certain tax benefits recognized related to a previous uncertain tax position.

Preliminary Fourth-Quarter Net Sales
The Company's preliminary comparable same-store net sales on a point-of-sale basis for the first six (6) weeks of the fourth quarter of fiscal 2012 declined 22% to $50.1 million from $64.4 million in the same period last year.  The number of sittings decreased 10% from the prior year and the average sale per customer sitting decreased 14% period over period.

Investor Relations
CPI Corp. uses the Investor Relations page of its website at http://www.cpicorp.com to make information available to its investors and the public.  You can sign up to receive e-mail alerts whenever the Company posts new information to the website.

About CPI Corp.
For more than 60 years, CPI Corp. has been dedicated to helping customers conveniently create cherished photography portrait keepsakes that capture a lifetime of memories.  Headquartered in St. Louis, Missouri, CPI Corp. provides portrait photography services at more than 2,700 locations, 176 of which are temporary in nature, throughout the United States, Canada, Mexico and Puerto Rico.  CPI's digital format allows its studios and on location business to offer unique posing options, creative photography selections, a wide variety of sizes and an unparalleled assortment of enhancements to customize each portrait - all for an affordable price.

Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties.  The Company identifies forward-looking statements by using words such as "preliminary," "plan," "expect," "looking ahead," "anticipate," "estimate," "believe," "should," "intend" and other similar expressions.  Management wishes to caution the reader that these forward-looking statements, such as the Company's outlook with respect to its significant liquidity challenges and ability to continue as a going concern, portrait studios, net income, future cash requirements, cost savings, compliance with debt covenants, valuation allowances, reserves for charges and impairments, capital expenditures and other similar statements, are only predictions or expectations; actual events or results may differ materially as a result of risks facing the Company.

Such risks include, but are not limited to: the Company's ability to operate as a going concern, the Company's ability to sell or refinance its indebtedness prior to the expiration of its Credit Agreement, the Company's need for additional liquidity, declining sales trends in the Company's business, the Company's dependence on Walmart, Sears and Toys "R" Us, the approval of the Company's business practices and operations by Walmart, Sears and Toys "R" Us, the termination, breach, limitation or increase of the Company's expenses by Walmart under the lease and license agreements and Sears and Toys "R" Us under the license agreements, the Company's ability to comply with its debt covenants under its Credit Agreement, as amended, restrictions on the Company's business imposed by agreements governing its debt, the Company's ability to generate sufficient cash flow or raise additional capital to cover its operating expenses, the inability of the Company to pay dividends, customer demand for the Company's products and services, the economic recession and resulting decrease in consumer spending, manufacturing interruptions, dependence on certain suppliers, competition, dependence on key personnel, fluctuations in operating results, a significant increase in piracy of the Company's photographs, widespread equipment failure, implementation of marketing and operating strategies, outcome of litigation and other claims, impact of declines in global equity markets to the pension plan, impact of foreign currency translation and the limited trading market of its stock.

The risks described above do not include events that the Company does not currently anticipate or that it currently deems immaterial, which may also affect its results of operations and financial condition.  The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

 

 


CPI CORP

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except per share amounts)

(unaudited)



16 Weeks Ended


40 Weeks Ended


November 10,
2012


November 12,
2011



November 10,
2012



November 12,
2011

Net sales

$

69,501


$

94,554



$

192,747


$

254,023










Cost and expenses:









Cost of sales (exclusive of depreciation and amortization)

6,951


8,626



17,423


20,949

Selling, general and administrative expenses

67,193


92,914



180,005


233,347

Depreciation and amortization

2,031


4,609



6,084


12,363

Impairments

3,955




25,843


Other charges

3,135


699



9,837


5,043


83,265


106,848



239,192


271,702










Loss from continuing operations

(13,764)


(12,294)



(46,445)


(17,679)










Interest expense, net

6,068


1,286



11,204


2,562

Other expense, net

78


281



129


228










Loss from continuing operations before income taxes

(19,910)


(13,861)



(57,778)


(20,469)

Income tax expense (benefit)

176


(7,442)



283


(8,803)










Net loss from continuing operations

(20,086)


(6,419)



(58,061)


(11,666)

Net loss from discontinued operations, net of income tax benefit

(120)


(830)



(2,076)


(1,220)










Net loss

(20,206)


(7,249)



(60,137)


(12,886)

Net income (loss) attributable to noncontrolling interest

23


1



(105)


(139)










NET LOSS ATTRIBUTABLE TO CPI CORP

$

(20,229)


$

(7,250)



$

(60,032)


$

(12,747)










Amounts Attributable to CPI Corp. Common Stockholders:









Net loss from continuing operations, net of income taxes

$

(20,109)


$

(6,420)



$

(57,956)


$

(11,527)

Net loss from discontinued operations, net of income taxes

(120)


(830)



(2,076)


(1,220)

Net loss

$

(20,229)


$

(7,250)



$

(60,032)


$

(12,747)










Net Loss per Common Share Attributable to CPI Corp.:









Net loss per share from continuing operations

$

(2.79)


$

(0.91)



$

(8.14)


$

(1.64)

Net loss per share from discontinued operations

(0.02)


(0.12)



(0.29)


(0.17)

Net loss per share

$

(2.81)


$

(1.03)



$

(8.43)


$

(1.81)










Weighted average common shares outstanding

7,200


7,040



7,118


7,027

 

 

 


CPI CORP.

ADDITIONAL CONSOLIDATED OPERATING INFORMATION

(In thousands)

(unaudited)













16 Weeks Ended


40 Weeks Ended



November 10,
2012 (1)


November 12,
2011


November 10,
2012



November 12,
2011







Capital Expenditures

$

821


$

3,504


$

2,514


$

7,107






EBITDA is calculated as follows:









Net loss from continuing operations attributable to CPI Corp.

(20,109)


(6,420)


(57,956)


(11,527)

Income tax expense (benefit)

176


(7,442)


283


(8,803)

Interest expense, net

6,068


1,286


11,204


2,562

Depreciation and amortization

2,031


4,609


6,084


12,363

Impairments

3,955



25,843


Other non-cash charges, net

222


27


658


(36)









EBITDA (2) & (6)

$

(7,657)


$

(7,940)


$

(13,884)


$

(5,441)









Adjusted EBITDA (3)

$

(4,667)


$

(6,980)


$

(4,578)


$

(124)









EBITDA margin (4)

(11.02)%


(8.40)%


(7.20)%


(2.14)%









Adjusted EBITDA margin (5)

(6.72)%


(7.38)%


(2.38)%


(0.05)%

 

(1)

During the 16-week period ended November 10, 2012, the Company recorded adjustments related to the closure of studio locations subject to operating leases, which resulted in a net expense of $756,000, to correct errors in previously recognized liabilities for operating leases recorded during the 12-week period ended July 21, 2012.



(2)

EBITDA represents net earnings from continuing operations before interest expense, income taxes, depreciation and amortization and other non-cash charges. EBITDA is included because it is one liquidity measure used by certain investors to determine a company's ability to service its indebtedness.  EBITDA is unaffected by the debt and equity structure of the company. EBITDA does not represent cash flow from operations as defined by GAAP, is not necessarily indicative of cash available to fund all cash flow needs and should not be considered an alternative to net income under GAAP for purposes of evaluating the Company's results of operations. EBITDA is not necessarily comparable with similarly-titled measures for other companies.



(3)

Adjusted EBITDA is calculated as follows:

 

EBITDA

$

(7,657)


$

(7,940)


$

(13,884)


$

(5,441)

EBITDA adjustments:








Litigation costs

157


(5)


424


2,189

Severance and related costs

41


411


1,481


1,702

Studio closure costs

860



3,529


Financial restructuring costs

1,080



2,485


Bella Pictures Acquisition costs

643


216


960


1,107

Currency translation loss

61


263


109


193

Other

148


75


318


126









Adjusted EBITDA

$

(4,667)


$

(6,980)


$

(4,578)


$

(124)

 

(4)

EBITDA margin represents EBITDA, as defined in (2), stated as a percentage of sales.


(5)

Adjusted EBITDA margin represents Adjusted EBITDA, as defined in (3), stated as a percentage of sales.


(6)

As required by the SEC's Regulation G, a reconciliation of EBITDA, a non-GAAP liquidity measure, with the most directly comparable GAAP liquidity measure, cash flows from continuing operations follows:

 











16 Weeks Ended


40 Weeks Ended


November 10,
2012


November 12,
2011


November 10,
2012


November 12,
2011

EBITDA

$

(7,657)


$

(7,940)


$

(13,884)


$

(5,441)

Income tax (expense) benefit

(176)


7,442


(283)


8,803

Interest expense, net

(6,068)


(1,286)


(11,204)


(2,562)

Adjustments for items not requiring cash:








Deferred income taxes


(6,712)


(129)


(9,936)

Deferred revenues and related costs

610


1,412


1,321


2,607

Other, net

1,592


2,336


3,791


3,877

(Increase) decrease in current assets

(2,601)


(7,840)


(601)


(7,634)

Increase (decrease) in current liabilities

10,868


5,886


8,452


3,516

Increase (decrease) in current income taxes

110


(1,757)


422


(2,485)









Cash flows from continuing operations

$

(3,322)


$

(8,459)


$

(12,115)


$

(9,255)









 

 

 

CPI CORP.

CONSOLIDATED BALANCE SHEETS

NOVEMBER 10, 2012 AND NOVEMBER 12, 2011

(In thousands)

(unaudited)








November 10,

 2012


November 12,
2011

Assets










Current assets:





Cash and cash equivalents


$

3,912


$

4,589

Other current assets


16,854


38,903

Net property and equipment


7,364


33,190

Intangible assets


16,746


57,710

Other assets


11,320


20,969






Total assets


$

56,196


$

155,361






Liabilities and stockholders' deficit










Current liabilities, including current portion of long-term debt obligations


$

136,448


$

131,220

Long-term debt obligations



Other liabilities


38,392


27,743

Stockholders' deficit


(118,644)


(3,602)






Total liabilities and stockholders' deficit


$

56,196


$

155,361

 

SOURCE CPI Corp.

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
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US and large in-house IT organizations.
SYS-CON Events announces a new pavilion on the Cloud Expo floor where WebRTC converges with the Internet of Things. Pavilion will showcase WebRTC and the Internet of Things. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices--computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridsto...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at Internet of @ThingsExpo, Andrew Bolwell, Director of Innovation for HP’s Printing and Personal Systems Group, will discuss how key attributes of mobile technology – touch input, senso...
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
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, will examine 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...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
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 Internet of @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., will show what is needed to leverage the IoT to transform your business. He will discuss opportunities and challenges ahead for the IoT from a market and tec...
SYS-CON Events announced today that TeleStax, the main sponsor of Mobicents, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. TeleStax provides Open Source Communications software and services that facilitate the shift from legacy SS7 based IN networks to IP based LTE and IMS networks hosted on private (on-premise), hybrid or public clouds. TeleStax products include Restcomm, JSLEE, SMSC Gateway, USSD Gateway, SS7 Resource Adaptors, SIP Servlets, Rich Multimedia Services, Presence Services/RCS, Diame...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
SYS-CON Events announced today that O'Reilly Media has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurring their adoption by amplifying "faint signals" from the alpha geeks who are creating the future. An...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
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.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
As a disruptive technology, Web Real-Time Communication (WebRTC), which is an emerging standard of web communications, is redefining how brands and consumers communicate in real time. The on-going narrative around WebRTC has largely been around incorporating video, audio and chat functions to apps. In his session at Internet of @ThingsExpo, Alex Gouaillard, Founder and CTO of Temasys Communications, will look at a fourth element – data channels – and talk about its potential to move WebRTC beyond browsers and into the Internet of Things.
SYS-CON Events announced today that Gigaom Research has been named "Media Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Ashar Baig, Research Director, Cloud, at Gigaom Research, will also lead a Power Panel on the topic "Choosing the Right Cloud Option." Gigaom Research provides timely, in-depth analysis of emerging technologies for individual and corporate subscribers. Gigaom Research's network of 200+ independent analysts provides new content daily that bridges the gap between break...
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 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.