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Albemarle reports fourth quarter and full year 2012 results

BATON ROUGE, La., Jan. 22, 2013 /PRNewswire/ --

Fourth quarter 2012 highlights:

  • Quarterly earnings of $105.2 million excluding special items, or $1.17 per share.
  • Net sales of $688 million and EBITDA margin of 23 percent for the quarter, excluding special items.
  • Full year earnings of $436.2 million excluding special items, or $4.85 per share.

Three Months Ended


Year Ended



December 31,


December 31,


In thousands, except per share amounts

2012


2011


2012


2011















Net sales

$

687,596


$

707,390


$

2,745,420


$

2,869,005















Segment income

$

150,600


$

165,473


$

661,156


$

712,033















Net income attributable to Albemarle Corporation

$

37,726


$

45,548


$

311,536


$

392,114















Diluted earnings per share

$

0.42


$

0.51


$

3.47


$

4.28















Special items per share













  Non-operating pension and OPEB adjustments (a)


0.60



0.63



0.46



0.59


  Restructuring and other special items, net (b)


0.15



--



0.92



--















Diluted earnings per share excluding special items (d)

$

1.17


$

1.13


$

4.85


$

4.88





See accompanying notes and reconciliations to the condensed consolidated financial information.



 

Albemarle Corporation (NYSE: ALB) reported fourth quarter 2012 earnings of $37.7 million, or $0.42 per share, compared to fourth quarter 2011 earnings of $45.5 million, or $0.51 per share.  Excluding special items, fourth quarter 2012 earnings were $105.2 million, or $1.17 per share, compared to $101.9 million, or $1.13 per share, for 2011.  The Company reported net sales of $687.6 million in the fourth quarter of 2012 compared to net sales of $707.4 million in the fourth quarter of 2011 with lower metals surcharges in the Catalysts segment more than offsetting total company volume growth. 

(Logo: http://photos.prnewswire.com/prnh/20111129/MM14279LOGO )

Earnings for the full year 2012 were $311.5 million, or $3.47 per share, compared to $392.1 million, or $4.28 per share, for 2011.  Excluding special items, earnings for 2012 were $436.2 million, or $4.85 per share, compared to $446.3 million, or $4.88 per share, for 2011.  Net sales for 2012 were $2.7 billion compared to $2.9 billion for 2011 with the majority of the reduction caused by lower metals surcharges in the Catalysts segment. 

As previously announced, in the fourth quarter of 2012 the Company adopted mark-to-market (MTM) accounting relating to its global pension and other postretirement benefit (OPEB) plans.  All historical consolidated financial information presented herein has been retrospectively adjusted to reflect this change in accounting method.  The MTM actuarial loss for 2012, recorded in Corporate and other expense, amounted to $75.8 million ($48.3 million after income taxes, or $0.54 per share) reflecting a lower assumed discount rate partially offset by 2012 pension asset performance. 

Commenting on results, Luke Kissam, CEO, stated, "2012 was a difficult year from a macroeconomic standpoint, but we are pleased with the earnings power that we demonstrated in the face of a weak global economy, the negative impact of raw material pricing related to certain metals and lower demand than originally anticipated in many of the markets served by our products, resulting in lower operating rates at many of our production units.  At the same time, we were able to exit the phosphorus business, freeze our pension obligations and further strengthen our balance sheet while also investing sufficient capital to permit future growth across our business portfolio."

Quarterly Segment Results

Catalysts generated net sales of $294.1 million in the fourth quarter of 2012, a 2 percent increase over net sales in the fourth quarter of 2011, due mainly to favorable impacts from higher hydroprocessing and performance catalyst volumes, partially offset by lower metals surcharges in refinery catalysts and foreign currency.  Catalysts segment income was $78.8 million in the fourth quarter of 2012, down 6 percent from fourth quarter 2011 results of $84.2 million due primarily to unfavorable impacts from metals cost volatility versus the fourth quarter of 2011, partially offset by favorable sales volumes and higher equity income. 

Polymer Solutions reported net sales of $200.1 million in the fourth quarter of 2012, a 4 percent decrease over net sales in the fourth quarter of 2011, due to the year-over-year effects of our phosphorus flame retardants business exit in the second quarter of 2012.  Higher sales volumes in our core products were offset by unfavorable pricing, mix and foreign currency impacts.  Segment income for Polymer Solutions was $36.3 million in the fourth quarter of 2012, a 3 percent decline from $37.5 million in the fourth quarter of 2011, driven by unfavorable pricing, higher variable input costs including fixed cost absorption and unfavorable foreign currency impacts, partly offset by favorable sales volumes and favorable impacts from our exit of the phosphorus flame retardants business.

Fine Chemistry net sales in the fourth quarter of 2012 were $193.4 million, a 7 percent decrease versus net sales in the fourth quarter of 2011, due mainly to unfavorable pricing, lower volumes (mainly due to the timing of custom services contracts) and unfavorable foreign currency impacts.  Segment income for Fine Chemistry was $35.5 million for the fourth quarter of 2012, down 19 percent from fourth quarter 2011 results of $43.8 million, due to unfavorable pricing, higher variable input costs including fixed cost absorption and impacts from higher income attributable to noncontrolling interests, partly offset by favorable sales mix. 

Corporate and Other

Corporate and other expense was $98.7 million for the fourth quarter of 2012.  The decrease from the comparable period in 2011 was due primarily to lower personnel-related costs associated with performance-based incentive compensation levels and lower costs from non-operating pension and OPEB items which included a fourth quarter MTM actuarial loss of $86.0 million in 2012 and $92.3 million in 2011. 

Interest and financing expenses were $7.7 million for the fourth quarter of 2012 compared to $9.0 million for the fourth quarter of 2011, with this decrease due primarily to increases in interest capitalized on higher average construction project balances outstanding and lower variable-rate borrowings year-over-year.

Our fourth quarter and full year 2012 effective income tax rates were (45.6) percent and 22.0 percent, respectively.  The fourth quarter rate was impacted primarily by the MTM actuarial loss.  Excluding special items (see notes to the condensed consolidated financial information), our fourth quarter and full year 2012 effective income tax rates were 18.3 percent and 24.5 percent, respectively.  Our effective tax rate continues to be influenced by the level and geographic mix of income and benefits from a favorable mix of income in lower tax jurisdictions. 

Cash Flow

Our cash flow from operations was approximately $489 million for the full year 2012, and we had $478 million in cash and cash equivalents at December 31, 2012.  During 2012, cash on hand and cash provided by operations funded capital expenditures for plant, machinery and equipment of approximately $281 million (which includes approximately $78.0 million in capital expenditures associated with our Jordanian joint venture), long-term debt repayments of $63.8 million, dividends to shareholders of $69.1 million, repurchases of $63.6 million of our common stock, advances to joint ventures of $25.0 million and pension and OPEB contributions of $21.6 million.

Earnings Call

The Company's performance for the fourth quarter and the year ended December 31, 2012 will be discussed on a conference call at 9:00 AM Eastern Standard time on January 23, 2013.  The call can be accessed by dialing 800-638-4930 (International Dial In # 617-614-3944), and entering conference ID 29909204.  The Company's earnings presentation and supporting material can be accessed through Albemarle's website under Investors at www.albemarle.com.

About Albemarle

Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer and marketer of highly-engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services.  Albemarle is committed to global sustainability and is advancing its eco-practices and solutions in its three business segments, Polymer Solutions, Catalysts and Fine Chemistry, and employs more than 4,000 people worldwide and serves customers in approximately 100 countries.  Albemarle regularly posts information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, Regulation G reconciliations, SEC filings and other information regarding the Company, its businesses and markets served. 

Forward-Looking Statements

Some of the information presented in this press release and the conference call and discussions that follow, including, without limitation, statements with respect to product development, changes in productivity, market trends, price, volume and mix changes, expected growth and earnings, input costs, surcharges, tax rates, stock repurchases, dividends, economic trends, outlook and all other information relating to matters that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  There can be no assurance that actual results will not differ materially.  Factors that could cause actual results to differ from expectations include, without limitation: changes in economic and business conditions; changes in financial and operating performance of our major customers and industries and markets served by us; the timing of orders received from customers; the gain or loss of significant customers; competition from other manufacturers; changes in the demand for our products; limitations or prohibitions on the manufacture and sale of our products; availability of raw materials; changes in the cost of raw materials and energy and in our ability to pass through increases; acquisitions and divestitures, and changes in performance of acquired companies; fluctuations in foreign currencies; changes in laws and government regulation impacting our operations or our products; the occurrence of claims or litigation; the occurrence of natural disasters; the inability to maintain current levels of product or premises liability insurance or the denial of such coverage; political unrest, including terrorism or hostilities; political instability affecting our manufacturing operations or joint ventures; changes in accounting standards; the inability to achieve results from our global manufacturing cost reduction initiatives as well as our ongoing continuous improvement and rationalization programs; changes in the jurisdictional mix of our earnings; changes in monetary policies or inflation or interest rates, which may impact our ability to raise capital or increase our cost of funds, the performance of our pension fund investments and our pension expense and funding obligations; volatility and substantial uncertainties in the debt and equity markets; technology or intellectual property infringement and other innovation risks; decisions we may make in the future; and the other factors detailed from time to time in the reports we file with the SEC, including those described under "Risk Factors" in our Annual Report on Form 10-K and our 2012 Quarterly Reports on Form 10-Q. 


Albemarle Corporation and Subsidiaries
Consolidated Statements of Income
(In Thousands Except Per Share Amounts) (Unaudited)


Three Months Ended



Year Ended



December 31,



December 31,



2012



2011



2012



2011


Net sales

$

687,596



$

707,390



$

2,745,420



$

2,869,005


Cost of goods sold


495,619




500,580




1,835,425




1,914,058


Gross profit


191,977




206,810




909,995




954,947


Selling, general and administrative expenses (c)


124,084




137,026




313,227




360,070


Research and development expenses


19,128




18,987




78,919




77,083


Restructuring and other charges, net (b)


16,982




--




111,685




--


Operating profit


31,783




50,797




406,164




517,794


Interest and financing expenses


(7,666)




(8,998)




(32,800)




(37,574)


Other (expenses) income, net


(335)




(177)




1,229




357


Income before income taxes and equity in net
















   income of unconsolidated investments


23,782




41,622




374,593




480,577


Income tax (benefit) expense (b)


(10,849)




(1,791)




82,533




104,134


Income before equity in net income of
















   unconsolidated investments


34,631




43,413




292,060




376,443


Equity in net income of unconsolidated
















   investments (net of tax)


8,834




6,636




38,067




43,754


Net income


43,465




50,049




330,127




420,197


Net income attributable to noncontrolling interests


(5,739)




(4,501)




(18,591)




(28,083)


Net income attributable to Albemarle Corporation

$

37,726



$

45,548



$

311,536



$

392,114


















Basic earnings per share

$

0.42



$

0.51



$

3.49



$

4.33


Diluted earnings per share

$

0.42



$

0.51



$

3.47



$

4.28


Weighted-average common shares outstanding –
















   basic


89,018




88,805




89,189




90,522


Weighted-average common shares outstanding –
















   diluted


89,660




89,819




89,884




91,522


















See accompanying notes to the condensed consolidated financial information.

 


Albemarle Corporation and Subsidiaries
Condensed Consolidated Balance Sheets
(In Thousands) (Unaudited)



December 31,



December 31,



2012



2011


ASSETS








Cash and cash equivalents

$

477,696



$

469,416


Other current assets


929,617




886,204










Total current assets


1,407,313




1,355,620










Property, plant and equipment


2,867,083




2,619,428


Less accumulated depreciation

   and amortization


1,570,512




1,489,948


Net property, plant and equipment


1,296,571




1,129,480










Other assets and intangibles


733,407




718,724


Total assets

$

3,437,291



$

3,203,824










LIABILITIES AND EQUITY








Current portion of long-term debt

$

12,700



$

14,416


Other current liabilities


372,309




386,762










Total current liabilities


385,009




401,178










Long-term debt


686,588




749,257


Other noncurrent liabilities


370,318




296,659


Deferred income taxes


63,368




77,903


Albemarle Corporation shareholders' equity


1,833,598




1,591,277


Noncontrolling interests


98,410




87,550


Total liabilities & equity

$

3,437,291



$

3,203,824



See accompanying notes to the condensed consolidated financial information.

 

Albemarle Corporation and Subsidiaries
Selected Consolidated Cash Flow Data
(In Thousands) (Unaudited)


Year Ended



December 31,



2012


2011


Cash and cash equivalents at beginning of year

$

469,416


 

$

529,650


Cash and cash equivalents at end of year

$

477,696


$

469,416









Sources of cash and cash equivalents:














  Net income

$

330,127


$

420,197









  Proceeds from borrowings


--



9,415









  Proceeds from exercise of stock options


21,148



2,230









Uses of cash and cash equivalents:














  Capital expenditures


(280,873)



(190,574)









  Repurchases of common stock


(63,575)



(178,132)









  Repayments of long-term debt


(63,811)



(109,591)









  Dividends paid to shareholders


(69,113)



(57,759)









  Pension and postretirement contributions


(21,610)



(59,773)









  Investments in equity and other corporate investments


--



(10,868)









  Long-term advances to joint ventures


(24,959)



--









Non-cash and other items:














  Depreciation and amortization


99,020



96,753









  Restructuring and other charges (b)


111,685



--









  Pension and postretirement expense


77,442



97,207









  Equity in net income of unconsolidated investments


(38,067)



(43,754)









See accompanying notes to the condensed consolidated financial information.

 

Albemarle Corporation and Subsidiaries
Consolidated Summary of Segment Results
(In Thousands) (Unaudited)


Three Months Ended



Year Ended



December 31,



December 31,



2012



2011



2012



2011


Net sales:
















Polymer Solutions

$

200,093



$

209,318



$

892,232



$

1,001,922


Catalysts


294,081




289,524




1,067,948




1,116,863


Fine Chemistry


193,422




208,548




785,240




750,220


Total net sales

$

687,596



$

707,390



$

2,745,420



$

2,869,005


















Segment operating profit:
















Polymer Solutions

$

35,778



$

36,860



$

198,426



$

243,396


Catalysts


71,440




78,750




260,544




290,065


Fine Chemistry


40,287




47,670




182,690




162,726


Total segment operating profit


147,505




163,280




641,660




696,187


















Equity in net income of unconsolidated investments:
















Polymer Solutions


1,459




1,200




6,416




7,696


Catalysts


7,375




5,463




31,651




36,259


Fine Chemistry


--




--




--




--


Corporate & other


--




(27)




--




(201)


Total equity in net income of unconsolidated investments


8,834




6,636




38,067




43,754


















Net (income) loss attributable to noncontrolling interests:
















Polymer Solutions


(966)




(603)




(2,221)




(9,803)


Catalysts


--




--




--




--


Fine Chemistry


(4,773)




(3,867)




(16,350)




(18,306)


Corporate & other


--




(31)




(20)




26


Total net income attributable to noncontrolling interests


(5,739




(4,501)




(18,591)




(28,083)


















Segment income:
















Polymer Solutions


36,271




37,457




202,621




241,289


Catalysts


78,815




84,213




292,195




326,324


Fine Chemistry


35,514




43,803




166,340




144,420


Total segment income


150,600




165,473




661,156




712,033


Corporate & other (a)


(98,740)




(112,541)




(123,831)




(178,568)


Restructuring and other charges, net (b)


(16,982)




--




(111,685)




--


Interest and financing expenses


(7,666)




(8,998)




(32,800)




(37,574)


Other (expenses) income, net


(335)




(177)




1,229




357


Income tax benefit (expense) (b)


10,849




1,791




(82,533)




(104,134)


Net income attributable to Albemarle Corporation

$

37,726



$

45,548



$

311,536



$

392,114








See accompanying notes to the condensed consolidated financial information.






 

Notes to the Condensed Consolidated Financial Information

(a)  Non-operating pension and OPEB items, consisting of MTM actuarial gains/losses as well as interest costs and expected return on assets, are included in Corporate & other as follows:

  • For the three months ended December 31, 2012 and 2011, net charges amounting to $84.2 million ($53.6 million after income taxes, or $0.60 per share) and $89.1 million ($56.3 million after income taxes, or $0.63 per share), respectively.  The MTM actuarial loss was $86.0 million ($54.8 million after income taxes, or $0.61 per share) and $92.3 million ($58.4 million after income taxes, or $0.65 per share) for the three months ended December 31, 2012 and 2011, respectively. 
  • For the years ended December 31, 2012 and 2011, net charges amounting to $65.3 million ($41.7 million after income taxes, or $0.46 per share) and $85.8 million ($54.2 million after income taxes, or $0.59 per share), respectively.  The MTM actuarial loss was $75.8 million ($48.3 million after income taxes, or $0.54 per share) and $98.6 million ($62.3 million after income taxes, or $0.68 per share) for the years ended December 31, 2012 and 2011, respectively. 

(b)  Restructuring and other special items consisted of the following: 

Three months ended December 31, 2012 --

  • A one-time employer contribution to the Company's defined contribution plan of $10.1 million ($6.4 million after income taxes, or $0.07 per share) and a net curtailment gain of $4.5 million ($2.9 million after income taxes, or $0.03 per share), both in connection with various amendments to certain of our U.S. pension and defined contribution plans. 
  • Net charges of $11.4 million ($6.8 million after income taxes, or $0.08 per share) in connection with various restructuring-related activities across the Company including certain planned reductions in force, changes in product sourcing and other items. 
  • Discrete net tax expense items of $3.5 million, or $0.03 per share, relating to tax planning and other tax matters.

Year ended December 31, 2012 --

  • A one-time employer contribution to the Company's defined contribution plan of $10.1 million ($6.4 million after income taxes, or $0.07 per share) and a net curtailment gain of $4.5 million ($2.9 million after income taxes, or $0.03 per share), both in connection with various amendments to certain of our U.S. pension and defined contribution plans. 
  • Net charges amounting to $100.8 million ($76.1 million after income taxes, or $0.85 per share) in connection with our exit of the phosphorus flame retardants business, and other charges amounting to $5.3 million ($4.3 million after income taxes, or $0.04 per share) relating to changes in product sourcing and other items. 
  • Discrete net tax benefit items of $1.0 million, or $0.01 per share, related principally to tax planning and the release of various tax reserves.

(c)  The year ended December 31, 2012 includes a gain of $8.1 million ($5.1 million after tax, or $0.06 per share) resulting from proceeds received in connection with the settlement of litigation (net of related legal fees).  The year ended December 31, 2012 also includes an $8 million charitable contribution ($5.1 million after tax, or $0.06 per share) to the Albemarle Foundation. 

(d)  Totals may not add due to rounding.

Additional Information

It should be noted that Net income attributable to Albemarle Corporation ("earnings"), earnings per share and effective income tax rates which exclude special items, as well as presentations of segment operating profit, segment income, EBITDA, EBITDA excluding special items, EBITDA margin and EBITDA margin excluding special items are financial measures that are not required by, or presented in accordance with, accounting principles generally accepted in the United States, or GAAP.  These measures are presented here to provide additional useful measurements to review our operations, provide transparency to investors and enable period-to-period comparability of financial performance.

A description of other non-GAAP financial measures that we use to evaluate our operations and financial performance, and reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP, can be found in the Investors section of our website at www.albemarle.com, under "Non-GAAP Reconciliations" under "Financials."  Also, see attached for a supplemental reconciliation of our segment operating profit and segment income amounts to GAAP Operating profit and GAAP Net income attributable to Albemarle Corporation, respectively, as well as for a supplemental reconciliation of our GAAP Net income attributable to Albemarle Corporation to EBITDA and EBITDA excluding special items.

ALBEMARLE CORPORATION AND SUBSIDIARIES
Non-GAAP Reconciliation
(In Thousands)
(Unaudited)

Our segment information includes measures we refer to as "segment operating profit," "segment income," "EBITDA" and "EBITDA excluding special items," which are financial measures that are not required by, or presented in accordance with, GAAP.  The Company has reported segment operating profit, segment income, EBITDA and EBITDA excluding special items because management believes that these financial measures provide transparency to investors and enable period-to-period comparability of financial performance.  Segment operating profit, segment income, EBITDA and EBITDA excluding special items should not be considered as alternatives to operating profit or net income attributable to Albemarle Corporation, as determined in accordance with GAAP.

See below for a reconciliation of segment operating profit and segment income, the non-GAAP financial measures, to Operating profit and Net income attributable to Albemarle Corporation, respectively, the most directly comparable financial measures calculated and reported in accordance with GAAP.

 


Three Months Ended


Year Ended



December 31,


December 31,



2012


2011


2012


2011















Total segment operating profit

$

147,505


$

163,280


$

641,660


$

696,187


Corporate & other *


(98,740)



(112,483)



(123,811)



(178,393)


Restructuring and other charges, net


(16,982)



--



(111,685)



--


GAAP Operating profit

$

31,783


$

50,797


$

406,164


$

517,794















Total segment income

$

150,600


$

165,473


$

661,156


$

712,033


Corporate & other


(98,740)



(112,541)



(123,831)



(178,568)


Restructuring and other charges, net


(16,982)



--



(111,685)



--


Interest and financing expenses


(7,666)



(8,998)



(32,800)



(37,574)


Other (expenses) income, net


(335)



(177)



1,229



357


Income tax benefit (expense)


10,849



1,791



(82,533)



(104,134)


GAAP Net income attributable to Albemarle Corporation

$

37,726


$

45,548


$

311,536


$

392,114



* Excludes corporate equity income and noncontrolling interest adjustments of $(58) for the three-month period ended December 31, 2011, and $(20) and $(175) for the years ended December 31, 2012 and 2011, respectively.

 

See below for a reconciliation of net income attributable to Albemarle Corporation excluding special items, EBITDA and EBITDA excluding special items, the non-GAAP financial measures, to net income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with GAAP.  EBITDA is defined as Net income attributable to Albemarle Corporation before interest and financing expenses, income taxes, depreciation and amortization.  EBITDA excluding special items is defined as EBITDA before the special items as listed below.

 


Three Months Ended


Year Ended



December 31,


December 31,



2012


2011


2012


2011















Net income attributable to Albemarle Corporation

$

37,726


$

45,548


$

311,536


$

392,114















Add back:













Non-operating pension and OPEB adjustments (net of tax)


53,649



56,331



41,729



54,231


Restructuring and other charges, net (net of tax)


10,333



--



83,923



--


Discrete tax items, net


3,504



--



(986)



--


Net income attributable to Albemarle Corporation excluding













  special items

$

105,212


$

101,879


$

436,202


$

446,345




























Net income attributable to Albemarle Corporation

$

37,726


$

45,548


$

311,536


$

392,114















Add back:













Interest and financing expenses


7,666



8,998



32,800



37,574


Income tax (benefit) expense


(10,849)



(1,791)



82,533



104,134


Depreciation and amortization


24,592



24,827



99,020



96,753


EBITDA


59,135



77,582



525,889



630,575


Non-operating pension and OPEB adjustments


84,220



89,083



65,316



85,765


Restructuring and other charges, net


16,982



--



111,685



--


EBITDA excluding special items

$

160,337


$

166,665


$

702,890


$

716,340















Net sales

$

687,596


$

707,390


$

2,745,420


$

2,869,005















EBITDA Margin


8.6%



11.0%



19.2%



22.0%















EBITDA Margin excluding special items


23.3%



23.6%



25.6%



25.0%


 

SOURCE Albemarle Corporation

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CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
"We are a well-established player in the application life cycle management market and we also have a very strong version control product," stated Flint Brenton, CEO of CollabNet,, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...