Welcome!

.NET Authors: Nitin Bandugula, Srinivasan Sundara Rajan, Pat Romanski, Bob Gourley, Michael Jannery

News Feed Item

EZCORP ANNOUNCES FIRST QUARTER RESULTS

Adds Strategic Investments and Over 100 New Locations;

AUSTIN, Texas, Jan. 22, 2013 /PRNewswire/ -- EZCORP, Inc. (NASDAQ: EZPW), a leading provider of instant cash solutions for consumers, today announced results for its first fiscal quarter ended December 31, 2012.

(Logo: http://photos.prnewswire.com/prnh/20090713/EZCORPLOGO)

For the quarter, total revenues were $277.1 million, a record for the Company. Net income was $30.7 million, and earnings per share were $0.59, at the upper end of the Company's previously announced guidance range of $0.55 to $0.60.

EZCORP significantly expanded its reach by opening 75 new locations, acquiring a U.S. online lender, entering the lucrative Arizona pawn market by acquiring 12 stores, acquiring a controlling interest in a 20-store buy/sell chain in Mexico, and increasing its strategic investments in Cash Converters International and Cash Genie.

Consolidated Financial Highlights — First quarter of fiscal 2013 vs. prior year quarter

  • Total revenues were $277.1 million, up 11%, driven primarily by growth in the Latin America segment. This increase is partially attributable to mid-year fiscal 2012 acquisitions of controlling interests in Crediamigo and Cash Genie and the inclusion of 100% of their revenues in EZCORP's consolidated revenues. Excluding these acquisitions, total revenues increased 3.4%, driven by growth in merchandise sales, pawn service charges and consumer loan fees.
  • Net income was $30.7 million, down 22%. This expected decrease resulted from the following:
    • Gold and jewelry environment — The Company estimates the change in gold metrics (price and volume) from the prior year quarter caused a deterioration of approximately $10 million in consolidated net revenues, attributable primarily to the U.S. pawn business. The Company has provided supplemental information regarding the impact of the gold environment in the Investor Relations section of its website (www.ezcorp.com).
    • Planned growth initiatives — The Company incurred $5 million in incremental expenses associated with its growth initiatives. These expenses include $4.1 million in drag associated with 111 de novo locations opened during the last nine months, including the 75 de novo locations added this quarter, as well as the costs associated with various business unit growth initiatives, which were recorded as operations expense. Excluding these incremental growth-related operations expenses, as well as the operations expense associated with other businesses added since the first quarter of last year, consolidated operations expense increased 9%.

      The Company also incurred $0.9 million in transaction and integration costs during the quarter in connection with acquisitions and investments, which were recorded as administrative expense.
    • Continued infrastructure development — During the quarter, the Company invested an additional $1 million in its infrastructure to support the efficient management of a larger, more complex global company. These costs, along with the acquisition-related administrative expenses noted above, account for 14% of the Company's consolidated administrative expense. Excluding these growth and investment-related costs, administrative expense as a percentage of revenues was essentially flat.
  • The Company ended the quarter with $419 million in earning assets (consisting of pawn loans, consumer loans and inventory on the balance sheet, combined with CSO loans not on the balance sheet), an increase of 41%, driven primarily by the acquisition of Crediamigo.
  • Cash and cash equivalents at quarter-end were $46.7 million, with debt of $235.5 million, including $92.9 million Crediamigo third party debt, which is non-recourse to EZCORP.

U.S. & Canada — Market Leading Storefront Growth

  • De Novo Growth — During the quarter, the Company added 63 new locations in the U.S. & Canada segment (51 de novo and 12 acquired).
    • The 51 de novo stores include 44 new financial service centers, primarily located outside of Texas, utilizing the Company's proven "store within a store" concept. The other seven locations are new pawn stores in key markets where the Company is already a leading provider. Capital expenditures associated with these new locations totaled $3.8 million, and the Company expects these stores to be profitable within six to eight months of opening.
    • The 12 acquired stores are located in Arizona. This represents the Company's initial entry into a state that offers very attractive customer demographics and financial metrics. While this acquisition alone makes EZCORP the third largest provider in the state, the Company expects to take a market leading position over the next few years. The acquired stores should be immediately accretive to earnings.
  • Pawn — The Company's U.S. Pawn & Retail business, consisting of 496 stores in 20 states, posted solid gains in a gold and jewelry environment that continues to be challenging.
    • Pawn loan balances were $147.1 million at quarter end, up 5% in total and down 1% on a same store basis. The overall pawn loan portfolio continues to reflect the ongoing shift to general merchandise collateral, with general merchandise loan balances up 13% in total and 6% on a same store basis, while jewelry loan balances were up 1% in total and down 3% on a same store basis.
    • Pawn service charges increased 7% in total and 4% on a same store basis, reflecting a 500 basis point increase in yield, driven primarily by rate increases in Nevada and operational improvements in Texas.
    • Redemption rates were 82%, up from 81% a year ago, with a jewelry redemption rate of 85% and a general merchandise redemption rate of 76%, both reflecting a slight increase over the same quarter last year. These increases were driven by improvements in customer qualification.
    • Merchandise sales increased 4% in total and down 1% on a same store basis. These increases were driven by general merchandise sales, which were up 15% in total and 6% on a same store basis. Jewelry sales were down 5% in total and 10% on a same store basis, also reflecting the ongoing shift in the business from jewelry to general merchandise.
    • Gross margin on merchandise sales was 42% (down 140 basis points) because of a one-time inventory reserve adjustment in last year's quarter. Excluding the effect of that adjustment, the margin rate was up 130 basis points.
  • Financial Services — The U.S. Financial Services business, consisting of 486 locations in 16 states, experienced significant growth in multiple payment and collateralized loan products.
    • Total loan balances were $47 million, up 8% from the prior year quarter. Customers continued to shift from first generation single payment loan products (traditional payday loans) to lower-yielding second generation multiple payment products (installment loans) and collateralized products (auto title loans). Balances related to installment loans and other multiple payment products increased 20%, while auto title loan balances were up 42%. Balances outside of Texas grew 54%, driven by new locations and new products.
    • Loan fees were $43 million, up 1% from the prior year quarter, reflecting the shift in mix referred to above.
    • Bad debt as a percentage of fees increased by 70 basis points to 24.7%, driven by the growth in new stores and new products outside Texas.
    • The profitability of the financial services business was negatively impacted by over $1 million during the quarter as a result of ordinances enacted in Dallas and Austin. Other Texas cities have adopted or are considering lending ordinances. The Company is actively supporting the enactment of consistent statewide regulation and expects the Texas Legislature to consider such a measure in the next few months.
  • Online Lending — During the quarter, the Company completed the acquisition of Go Cash, a U.S. based online lender. This acquisition brings the Company an experienced management team and industry leading underwriting models and systems. The Company plans to quickly build a significant online presence under the name "ezMoney.com" using the state-by-state model. The Company's initial efforts will be directed primarily at states where it already has a significant storefront presence. The Company plans to deliver, over time, a seamless, superior customer experience through online and mobile platforms that are integrated with its other products and channels.

    The Company expects the U.S. online lending business to reach profitability during the fourth quarter of this fiscal year, and to meet the Company's rigorous ROIC standards (20% ROIC unlevered within three years). However, this business is expected to negatively impact earnings per share by $0.03 during the second quarter.

Latin America — 110% Increase in Segment Contribution

  • Pawn — Empeno Facil, the Company's Mexico pawn operation, continued its strong performance. At the end of the quarter, the Company operated 254 pawn stores in Mexico, 62 of which have been open less than 12 months. Full-line format locations (which make up 80% of all Empeno Facil locations), regardless of age, are running well ahead of the Company's investment model.
    • During the quarter, Empeno Facil added 24 new de novo locations, compared to 14 new locations added during the first quarter of last year. This accelerated de novo growth, in addition to a relatively large number of immature stores, created drag that led operating unit contribution to decrease year-over-year. The Company remains confident in its store operating model in Mexico and believes that the new stores will be profitable within six months of store opening.
    • Pawn loan balances grew to $15 million, up 55% in total and 28% on a same store basis. General merchandise loan balances grew 60% in total and 37% on a same store basis, while jewelry loan balances increased 10% in total and decreased 5% on a same store basis. These balances reflect the same shift from jewelry to general merchandise that is seen in the Company's U.S pawn business.
    • Pawn service charges increased 44% in total and 25% on a same store basis.
    • Redemption rates were 76%, down from 77% a year ago, with a jewelry redemption rate of 72% and a general merchandise redemption rate of 77%.
    • Merchandise sales were up 46% in total and 20% on a same store basis. General merchandise sales (which make up over 99% of all merchandise sales) increased 44% in total and 18% on a same store basis. Scrap sales increased 7%.
    • Gross margin on merchandise sales was 43%, down 960 basis points because of a one-time inventory reserve adjustment in last year's quarter. Excluding the effect of that adjustment, the margin rate was down 100 basis points, driven by more aggressive pricing during the holiday season.
  • Payroll Lending — Crediamigo, the Company's Mexico payroll withholding lending business, gained market share through rapid growth and contributed nearly two-thirds of Latin America's segment contribution during the quarter.
    • Total loans outstanding at the end of the quarter were $81 million, up 24% since acquisition in January 2012, and well ahead of the Company's investment pro-forma.
    • Net revenues were $13.8 million in the quarter, with bad debt as a percentage of fees less than 1%.
    • Crediamigo added 8 new employer contracts (a 12% increase) during the quarter, gaining access to over 175,000 potential new customers.
    • These and other operational metrics for the business were at or better than the Company's original investment expectations.
  • Buy/Sell — During the quarter, the Company also completed the acquisition of a controlling interest in a chain of 20 buy/sell stores doing business under the name "TUYO." This acquisition extends the Company's buy/sell store channel into Mexico, further diversifying its service delivery formats. This is essentially a start-up business, and is expected to have no material impact on the Company's earnings for the remainder of this fiscal year. The Company expects this business to become profitable in the last half of fiscal 2014.

Other International — Highlighted by Cash Converters Strong Performance

  • In November, Cash Converters International Limited, the Company's strategic affiliate in Australia, announced that it had achieved a 43% increase in EBIT during its first quarter (ended September 30, 2012), which, due to the three-month lag in reporting, positively impacted EZCORP results in its first fiscal quarter. The Company's equity investment in Cash Converters International, combined with its equity investment in Albemarle & Bond Holdings PLC in the U.K., generated a 21% increase in earnings attributable to EZCORP for the quarter, as compared to the same period last year.
  • The Company made an additional investment in Cash Converters International in December as a part of a share placement, maintaining its 33% ownership percentage. EZCORP expects the new funds to be used to finance expansion and drive future earnings growth. During the quarter, the Company also increased its investment in Cash Genie, its U.K. online lending business, moving its ownership from 72% to 95%, with the remaining 5% held by local management.

CEO Commentary

Paul Rothamel, EZCORP's President and Chief Executive Officer, stated: "During the first quarter, we furthered our previously announced strategic initiatives, accelerating our de novo storefront growth and diversifying our revenue and profit streams by adding new channels, new geographies and new products. And excluding the impact of the challenging gold environment in pawn and the regulatory environment in financial services, our core businesses continued to perform well.

"Our vision is to be the global leader in providing customers with instant cash solutions where they want, when they want and how they want, and we are making the investments in both storefronts and technology platforms to achieve that vision. The first quarter results reflect significant progress, and we will continue to diligently pursue our goals. We believe our initiatives will yield superior shareholder value over the long-term.

Company Outlook

The Company affirms its fiscal 2013 earnings per share guidance of $2.55 to $2.80, and expects earnings per share for the second quarter of fiscal 2013 to be between $0.60 and $0.65. The Company expects its performance, in year-over-year comparison terms, to improve each quarter for the rest of fiscal 2013, and expects to return to year-over-year earnings growth in the latter half of the year.

About EZCORP

EZCORP is a leading provider of instant cash solutions for consumers, employing approximately 7,200 teammates and operating over 1,350 Company-operated pawn, buy/sell and personal financial services locations in the U.S., Mexico and Canada. We provide a variety of instant cash solutions, including pawn loans, consumer loans and fee-based credit services to customers seeking loans. At our pawn and buy/sell stores, we also sell merchandise, primarily collateral forfeited from pawn lending operations and used merchandise purchased from customers.

EZCORP owns controlling interests in Prestaciones Finmart, S.A.P.I. de C.V., SOFOM, E.N.R. (doing business under the name "Crediamigo"), a leading provider of payroll deduction loans in Mexico; in Artiste Holding Limited (doing business under the name "Cash Genie"), a leading provider of online loans in the U.K.; and in Renueva Commercial, S.A.P.I. de C.V., an operator of buy/sell stores in Mexico under the name "TUYO." The Company also has significant investments in Albemarle & Bond Holdings PLC (ABM.L), one of the U.K.'s largest pawnbroking businesses with over 180 full-line stores offering pawnbroking, jewelry retailing, gold buying and financial services; and in Cash Converters International Limited (CCV.ASX), which franchises and operates a worldwide network of almost 700 stores that provide personal financial services and sell pre-owned merchandise.

Special Note Regarding Forward-Looking Statements

This announcement contains certain forward-looking statements regarding the Company's expected operating and financial performance for future periods, including expected future earnings and growth rates. These statements are based on the Company's current expectations. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of uncertainties and other factors, including changes in the regulatory environment, changing market conditions in the overall economy and the industry, fluctuations in gold prices or the desire of our customers to pawn or sell their gold items, and consumer demand for the Company's services and merchandise. For a discussion of these and other factors affecting the Company's business and prospects, see the Company's annual, quarterly and other reports filed with the Securities and Exchange Commission.

EZCORP Investor Relations
(512) 314-2220
[email protected]
www.ezcorp.com


EZCORP, Inc.

Highlights of Consolidated Statements of Operations (Unaudited)

(in thousands, except per share data)




Three Months Ended December 31,


2012



2011

Revenues:





Merchandise sales

$

95,582


$

86,894

Jewelry scrapping sales

45,925


56,403

Pawn service charges

66,024


59,792

Consumer loan fees

64,765


45,088

Other revenues

4,830


696

Total revenues

277,126


248,873

Merchandise cost of goods sold

55,501


48,396

Jewelry scrapping cost of goods sold

32,199


35,424

Consumer loan bad debt

14,074


11,025

Net revenues

175,352


154,028

Operations expense

107,262


82,558

Administrative expense

13,671


11,654

Depreciation and amortization

7,652


5,255

(Gain) / loss on sale or disposal of assets

29


(201)

Operating income

46,738


54,762

Interest income

(178)


(39)

Interest expense

3,815


590

Equity in net income of unconsolidated affiliates

(5,038)


(4,161)

Other income

(501)


(1,119)

Income before income taxes

48,640


59,491

Income tax expense

16,485


20,139

Net income

32,155


39,352

Net income attributable to redeemable noncontrolling interest

1,438


Net income attributable to EZCORP, Inc.

$

30,717


$

39,352





Net income per share, diluted

$

0.59


$

0.78

Weighted average shares, diluted

52,112


50,693

 

 


EZCORP, Inc.

Highlights of Consolidated Balance Sheets (Unaudited)

(in thousands)




December 31,


2012


2011

Assets:




Current assets:




Cash and cash equivalents

$

46,668


$

22,988

Cash, restricted

1,133


Pawn loans

162,095


150,060

Consumer loans, net

40,599


16,188

Pawn service charges receivable, net

31,077


28,593

Consumer loan fees receivable, net

34,074


7,611

Inventory, net

120,326


100,385

Deferred tax asset

15,716


18,169

Prepaid expenses and other assets

50,394


38,901

Total current assets

502,082


382,895

Investments in unconsolidated affiliates

144,232


117,820

Property and equipment, net

114,676


84,513

Goodwill

428,011


212,263

Intangible assets, net

60,662


20,568

Non-current consumer loans, net

66,615


Restricted cash, non-current

1,994


Other assets, net

19,074


7,781

Total assets

$

1,337,346


$

825,840

Liabilities and stockholders' equity:




Current liabilities:




Current maturities of long-term debt

$

27,562


$

Current capital lease obligations

533


Accounts payable and other accrued expenses

95,115


57,412

Customer layaway deposits

6,254


6,152

Federal income taxes payable

659


12,672

Total current liabilities

130,123


76,236

Long-term debt, less current maturities

207,978


40,500

Long-term capital lease obligations

771


Deferred tax liability

10,815


8,724

Deferred gains and other long-term liabilities

26,227


1,997

Total liabilities

375,914


127,457

Temporary equity:




Redeemable noncontrolling interest

49,323


Stockholders' equity

912,109


698,383

Total liabilities and stockholders' equity

$

1,337,346


$

825,840





 

 


EZCORP, Inc.

Operating Segment Results (Unaudited)

(in thousands)




Three Months Ended December 31, 2012


U.S. & Canada


 

Latin America


Other
International


Consolidated

Revenues:









Merchandise sales

$

80,465


$

15,117


$


$

95,582

Jewelry scrapping sales

42,142


3,783



45,925

Pawn service charges

58,210


7,814



66,024

Consumer loan fees

45,959


11,877


6,929


64,765

Other revenues

2,794


1,654


382


4,830

Total revenues

229,570


40,245


7,311


277,126

Merchandise cost of goods sold

46,732


8,769



55,501

Jewelry scrapping cost of goods sold

29,157


3,042



32,199

Consumer loan bad debt

11,481


(1,048)


3,641


14,074

Net revenues

142,200


29,482


3,670


175,352

Segment expenses:







Operations expense

87,443


15,741


4,078


107,262

Depreciation and amortization

4,102


1,675


76


5,853

Loss on sale or disposal of assets

29




29

Interest, net

17


2,613



2,630

Equity in net income of unconsolidated affiliates



(5,038)


(5,038)

Other (income) expense

(4)


20


(69)


(53)

Segment contribution

$

50,613


$

9,433


$

4,623


$

64,669

Corporate expenses:







Administrative






13,671

Depreciation and amortization






1,799

Interest, net






1,007

Other income






(448)

Income before taxes






48,640

Income tax expense






16,485

Net income






32,155

Net income attributable to redeemable noncontrolling interest







1,438

Net income attributable to EZCORP, Inc.






$

30,717

 

 

EZCORP, Inc.

Operating Segment Results (Unaudited)

(in thousands)




Three Months Ended December 31, 2011


U.S. & Canada


Latin America


Other

International


Consolidated

Revenues:








Merchandise sales

$

76,552


$

10,342


$


$

86,894

Jewelry scrapping sales

52,866


3,537



56,403

Pawn service charges

54,370


5,422



59,792

Consumer loan fees

45,012



76


45,088

Other revenues

576


120



696

Total revenues

229,376


19,421


76


248,873

Merchandise cost of goods sold

43,451


4,945



48,396

Jewelry scrapping cost of goods sold

33,150


2,274



35,424

Consumer loan bad debt

10,890



135


11,025

Net revenues

141,885


12,202


(59)


154,028

Segment expenses:








Operations expense

74,994


6,966


598


82,558

Depreciation and amortization

3,223


770


22


4,015

(Gain) on sale or disposal of assets

(200)


(1)



(201)

Interest, net

4


(36)



(32)

Equity in net income of unconsolidated affiliates



(4,161)


(4,161)

Other (income) expense

(1,060)


3


(64)


(1,121)

Segment contribution

$

64,924


$

4,500


$

3,546


$

72,970

Corporate expenses:








Administrative







11,654

Depreciation and amortization







1,240

Interest, net







583

Other expense







2

Income before taxes







59,491

Income tax expense







20,139

Net income







39,352

Net income attributable to redeemable noncontrolling interest







Net income attributable to EZCORP, Inc.







$

39,352

 

 


EZCORP, Inc.

Store Count Activity




Three Months Ended December 31, 2012




Company-owned Stores




U.S. & Canada


Latin America


Other

International


Consolidated


Franchises

Beginning of period

987


275



1,262


10

De novo

51


24



75


Acquired

12


20



32


Sold, combined or closed





End of period

1,050


319



1,369


10




Three Months Ended December 31, 2011




Company-owned Stores




U.S. & Canada


Latin America


Other

International


Consolidated


Franchises

Beginning of period

933


178



1,111


13

De novo


14



14


Acquired

25




25


Sold, combined or closed

(8)




(8)


(1)

End of period

950


192



1,142


12

 

 

SOURCE EZCORP, Inc.

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 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.
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 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.
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...
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.
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...
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.
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...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the technology industry and how do they see opportunities for other women in their area of expertise.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
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.
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
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 ...
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...