Welcome!

.NET Authors: Trevor Parsons, Peter Silva, Yeshim Deniz, Pat Romanski, Adine Deford

News Feed Item

LSI Reports Fourth Quarter and Full Year 2012 Results

23% revenue growth year-over-year

SAN JOSE, Calif., Jan. 23, 2013 /PRNewswire/ -- LSI Corporation (NASDAQ: LSI) today reported results for its fourth quarter and full year ended December 31, 2012.

(Logo: http://photos.prnewswire.com/prnh/20120222/SF57952LOGO)

Fourth Quarter and Full Year 2012 Highlights

  • Fourth quarter 2012 revenues from continuing operations* of $600 million, up 15% year-over-year
  • Fourth quarter 2012 GAAP** income from continuing operations of $0.05 per diluted share
  • Fourth quarter 2012 non-GAAP*** income from continuing operations of $0.18 per diluted share
  • Fourth quarter 2012 operating cash flows of $95 million
  • Full year 2012 revenues of $2.51 billion, up 23% year over year

First Quarter 2013 Business Outlook

  • Projected revenues from continuing operations* of $535 million to $575 million
  • GAAP** income from continuing operations in the range of ($0.03) to $0.06 per share
  • Non-GAAP*** income from continuing operations in the range of $0.09 to $0.15 per share

*

On May 6, 2011, LSI completed the sale of its external storage systems business. The financial results of the external storage systems business have been classified as discontinued operations in LSI's financial statements. Our ongoing business is referred to as "continuing operations."

**

Generally Accepted Accounting Principles.

***

Excludes stock-based compensation, amortization of acquisition-related intangibles, purchase accounting effect on inventory, restructuring of operations and other items, net, gain on remeasurement of a pre-acquisition equity interest to fair value, gain/loss on sale/write-down of investments and, in the case of non-GAAP net income, gain from the sale of the external storage systems business. It also excludes the income tax effect associated with the above-mentioned items.

"2012 was a year of exciting progress for LSI as we delivered 23% revenue growth, strong expansion in operating margin and earnings per share from continuing operations, and record design wins. We introduced several important new products, and customers are increasingly looking to new LSI solutions for mega datacenters, mobile networks and flash," said Abhi Talwalkar, LSI's president and CEO. "LSI's intelligent silicon offers proven solutions as businesses turn to the cloud and look for new ways to accelerate their ability to quickly analyze, store, share and protect data. While there is uncertainty in the macro environment and softness in some end markets, we are centered in dynamic new growth cycles that are expected to drive long-term growth in our flash, server and networking businesses."

Fourth quarter 2012 revenues from continuing operations were $600 million, in line with guidance, compared to $523 million generated from continuing operations in the fourth quarter of 2011, and compared to $624 million generated from continuing operations in the third quarter of 2012.

Fourth quarter 2012 GAAP** income from continuing operations was $29 million or $0.05 per diluted share, compared to fourth quarter 2011 GAAP income from continuing operations of $11 million or $0.02 per diluted share. Third quarter 2012 GAAP income from continuing operations was $40 million or $0.07 per diluted share. Fourth quarter 2012 GAAP income from continuing operations included a net charge of $72 million from special items, consisting primarily of approximately $30 million of amortization of acquisition-related items, $25 million of stock-based compensation expense, $16 million of net restructuring and other items, and $1 million income tax effect.

Fourth quarter 2012 non-GAAP*** income from continuing operations was $101 million or $0.18 per diluted share, compared to fourth quarter 2011 non-GAAP income from continuing operations of $73 million or $0.13 per diluted share. Third quarter 2012 non-GAAP income from continuing operations was $99 million or $0.17 per diluted share.

Cash and short-term investments totaled approximately $676 million at quarter end. The company completed fourth-quarter purchases of approximately 7 million shares of its common stock for approximately $46 million. In 2012 the company purchased approximately 36 million shares of its common stock for approximately $273 million.

LSI recorded full-year 2012 revenues from continuing operations of $2.51 billion, a 23% increase compared to $2.04 billion in 2011.

"We delivered solid profitability and results in 2012, making good progress on our gross margin targets and generating strong cash flows," said Bryon Look, LSI's CFO. "With a strong balance sheet, zero debt and $479 million remaining on our share buyback authorization, we are in a good position to continue to return capital to our shareholders."

LSI 1Q2013 Business Outlook for Continuing Operations


GAAP**

Special Items

Non-GAAP***

Revenue

$535 million to $575 million


$535 million to $575 million

Gross Margin

48% to 52%

$18 million to $28 million

53% to 55%

Operating Expenses

$257 million to $277 million

$32 million to $42 million

$225 million to $235 million

Net Other Income

$4 million


$4 million

Tax

Approximately $8 million


Approximately $8 million

(Loss)/Income from Continuing Operations Per Share

($0.03) to $0.06

($0.09) to ($0.12)

$0.09 to $0.15

Diluted Share Count

570 million


570 million

Capital spending is projected to be around $25 million in the first quarter and approximately $80 million in total for 2013.

Depreciation and software amortization is projected to be around $15 million in the first quarter and approximately $60 million in total for 2013.

LSI Conference Call Information
LSI will hold a conference call today at 2 p.m. PST to discuss fourth quarter and full year 2012 financial results and the first quarter 2013 business outlook. Internet users can access the conference call at http://www.lsi.com/webcast. Subsequent to the conference call, a replay will be available at the same web address.

Forward-Looking Statements: This news release contains forward-looking statements that are based on the current opinions and estimates of management. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that could cause LSI's actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to: our ability to successfully integrate and manage the SandForce business and retain its key employees; our ability to achieve anticipated synergies and to develop integrated new products following our acquisition of SandForce; our ability to repurchase our common stock at prices we believe to be advantageous; our reliance on major customers and suppliers; our ability to keep up with rapid technological change; our ability to compete successfully in competitive markets; fluctuations in the timing and volumes of customer demand; the unavailability of appropriate levels of manufacturing capacity; and general industry and macro-economic conditions. For additional information, see the documents filed by LSI with the Securities and Exchange Commission, and specifically the risk factors set forth in the company's most recent reports on Form 10-K and 10-Q. LSI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About LSI
LSI Corporation (NASDAQ: LSI) designs semiconductors and software that accelerate storage and networking in datacenters, mobile networks and client computing. Our technology is the intelligence critical to enhanced application performance, and is applied in solutions created in collaboration with our partners. More information is available at www.lsi.com.

LSI, the LSI & Design logo and the Storage.Networking.Accelerated. tagline are trademarks or registered trademarks of LSI Corporation.
All other brand or product names may be trademarks or registered trademarks of their respective companies.

LSI CORPORATION

Condensed Consolidated Balance Sheets

(In millions)

(Unaudited)




















December 31,


September 30,


December 31,

Assets

2012


2012


2011







Current assets:






    Cash and short-term investments

$           676.0


$             643.0


$           935.5

    Accounts receivable, net

264.1


256.5


246.5

    Inventories

206.3


209.1


180.0

    Prepaid expenses and other current assets

87.2


64.6


60.7







        Total current assets

1,233.6


1,173.2


1,422.7







Property and equipment, net

269.7


250.2


180.6

Goodwill and identified intangible assets, net

741.1


771.9


506.2

Other assets

113.2


108.1


122.6







        Total assets

$        2,357.6


$          2,303.4


$        2,232.1













Liabilities and Stockholders' Equity












Current liabilities

$           506.9


$             476.8


$           460.9







Pension, tax and other liabilities

684.6


628.6


712.2







        Total liabilities

1,191.5


1,105.4


1,173.1







Stockholders' equity:






    Common stock and additional paid-in capital

5,578.7


5,579.6


5,629.2

    Accumulated deficit

(3,834.3)


(3,863.4)


(4,037.0)

    Accumulated other comprehensive loss

(578.3)


(518.2)


(533.2)







        Total stockholders' equity

1,166.1


1,198.0


1,059.0







        Total liabilities and stockholders' equity

$        2,357.6


$          2,303.4


$        2,232.1







    

LSI CORPORATION

Consolidated Statements of Operations (GAAP)

(In thousands, except per share amounts)

(Unaudited)












Three Months Ended


Year Ended


December 31,


September 30,


December 31,


December 31,


December 31,


2012


2012


2011


2012


2011











Revenues

$             600,128


$               623,962


$             523,140


$          2,506,087


$          2,043,958











    Cost of revenues

275,538


287,390


264,364


1,162,414


991,914

    Amortization of acquisition-related intangibles

21,318


21,348


20,354


85,404


82,659

    Purchase accounting effect on inventory

-


-


-


14,458


-

    Stock-based compensation expense

2,858


2,573


1,597


11,946


6,921

       Total cost of revenues

299,714


311,311


286,315


1,274,222


1,081,494











Gross profit 

300,414


312,651


236,825


1,231,865


962,464











    Research and development

165,758


156,318


139,061


643,230


552,342

    Stock-based compensation expense

11,613


11,170


5,360


47,064


23,646

       Total research and development

177,371


167,488


144,421


690,294


575,988











    Selling, general and administrative

64,919


69,722


63,705


270,965


241,820

    Amortization of acquisition-related intangibles

8,667


8,667


8,319


34,668


33,276

    Stock-based compensation expense

10,291


13,643


4,881


49,290


20,343

       Total selling, general and administrative

83,877


92,032


76,905


354,923


295,439











    Restructuring of operations and other items, net

16,480


4,221


21,033


42,654


23,719











Income/(loss) from operations

22,686


48,910


(5,534)


143,994


67,318











    Interest income and other, net

7,606


5,855


8,124


37,711


26,472











Income from continuing operations before income taxes 

30,292


54,765


2,590


181,705


93,790

Provision for/(benefit from) income taxes 

1,202


15,100


(8,818)


(20,960)


3,778











Income from continuing operations

29,090


39,665


11,408


202,665


90,012











(Loss)/income from discontinued operations, net of taxes 

-


-


(13,194)


-


241,479











Net income/(loss)

$               29,090


$                 39,665


$               (1,786)


$             202,665


$             331,491











Basic income/(loss) per share:










    Income from continuing operations 

$                   0.05


$                     0.07


$                   0.02


$                   0.36


$                   0.15

    (Loss)/income from discontinued operations 

$                       -


$                         -


$                 (0.02)


$                       -


$                   0.42

    Net income/(loss)

$                   0.05


$                     0.07


$                   0.00


$                   0.36


$                   0.57











Diluted income/(loss) per share:










    Income from continuing operations 

$                   0.05


$                     0.07


$                   0.02


$                   0.35


$                   0.15

    (Loss)/income from discontinued operations 

$                       -


$                         -


$                 (0.02)


$                       -


$                   0.40

    Net income/(loss)

$                   0.05


$                     0.07


$                   0.00


$                   0.35


$                   0.55











Shares used in computing per share amounts:










    Basic

552,761


555,197


563,721


559,459


585,704











    Diluted

568,611


572,022


573,018


580,548


600,893











Reconciliations of certain GAAP measures to non-GAAP measures are included below.















Three Months Ended


Year Ended


December 31,

2012


September 30,

2012


December 31,

2011


December 31,

2012


December 31,

2011

Reconciliation of GAAP net income to non-GAAP net income:















GAAP income from continuing operations

$               29,090


$                 39,665


$               11,408


$             202,665


$               90,012











Special items:










a)   Stock-based compensation expense - cost of revenues

2,858


2,573


1,597


11,946


6,921

b)   Stock-based compensation expense - R&D

11,613


11,170


5,360


47,064


23,646

c)   Stock-based compensation expense - SG&A

10,291


13,643


4,881


49,290


20,343

d)   Amortization of acquisition-related intangibles - cost of revenues  

21,318


21,348


20,354


85,404


82,659

e)   Amortization of acquisition-related intangibles - SG&A

8,667


8,667


8,319


34,668


33,276

f)   Purchase accounting effect on inventory

-


-


-


14,458


-

g)   Restructuring of operations and other items, net

16,480


4,221


21,033


42,654


23,719

h)  Gain on sale of investments

-


(2,550)


-


(2,550)


-

i)   Gain on re-measurement of a pre-acquisition equity interest to fair value

-


-


-


(5,765)


-

j)   Income tax effect

833


-


-


(42,365)


-

     Total special items from continuing operations

72,060


59,072


61,544


234,804


190,564











Non-GAAP income from continuing operations

$             101,150


$                 98,737


$               72,952


$             437,469


$             280,576











Non-GAAP income from continuing operations per share: 










    Basic

$                   0.18


$                     0.18


$                   0.13


$                   0.78


$                   0.48











    Diluted 

$                   0.18


$                     0.17


$                   0.13


$                   0.75


$                   0.47











GAAP net income/(loss)

$               29,090


$                 39,665


$               (1,786)


$             202,665


$             331,491











Special items:










a)   Total special items from continuing operations

72,060


59,072


61,544


234,804


190,564

b)   Stock-based compensation expense - discontinued operations

-


-


-


-


(592)

c)   Amortization of acquisition-related intangibles - discontinued operations

-


-


-


-


886

d)   Restructuring of operations - discontinued operations

-


-


(67)


-


40,863

e)   Gain on sale of business

-


-


-


-


(260,066)











Non-GAAP net income

$             101,150


$                 98,737


$               59,691


$             437,469


$             303,146











Non-GAAP net income per share:










    Basic

$                   0.18


$                     0.18


$                   0.11


$                   0.78


$                   0.52











    Diluted 

$                   0.18


$                     0.17


$                   0.10


$                   0.75


$                   0.50











Shares used in computing non-GAAP per share amounts:










    Basic

552,761


555,197


563,721


559,459


585,704











    Diluted

568,611


572,022


573,018


580,548


600,893











     

LSI CORPORATION

Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)












Three Months Ended


Year Ended


December 31,


September 30,


December 31,


December 31,


December 31,


2012


2012


2011


2012


2011

Operating activities:










Net income/(loss)

$         29,090


$           39,665


$          (1,786)


$       202,665


$       331,491

Adjustments:










    Depreciation and amortization 

44,166


45,671


43,357


180,484


189,200

    Stock-based compensation expense

24,762


27,386


11,838


108,300


50,318

    Non-cash restructuring of operations and other items, net

221


698


4,747


5,960


35,282

    Gain on sale of investments/write-down of investment 

-


(2,550)


183


(2,550)


183

    Gain on re-measurement of a pre-acquisition equity interest to fair value

-


-


-


(5,765)


-

    Gain on sale of business

-


-


-


-


(260,066)

    (Gain)/loss on sale of property and equipment

(46)


2,644


78


2,528


(465)

    Unrealized foreign exchange (gain)/loss

(518)


2,655


(2,215)


(598)


(2,015)

    Deferred taxes 

(10,743)


(72)


(9,894)


(53,989)


(28,838)

    Changes in assets and liabilities, net of assets acquired and liabilities 










        assumed in business combination:










        Accounts receivable

(7,620)


40,348


1,850


(6,689)


80,065

        Inventories

2,748


(5,091)


30,399


(2,116)


(29,804)

        Prepaid expenses, assets held for sale and other assets

(13,308)


1,110


(526)


(14,028)


(10,782)

        Accounts payable

23,208


(25,186)


(2,179)


27,543


(3,879)

        Accrued and other liabilities

2,895


(15,471)


(20,436)


(67,586)


(103,915)

Net cash provided by operating activities

94,855


111,807


55,416


374,159


246,775











Investing activities:










    Purchases of debt securities available-for-sale

(37,206)


(22,087)


(12,284)


(131,662)


(50,967)

    Proceeds from maturities and sales of debt securities available-for-sale 

28,320


11,767


5,472


57,843


37,460

    Purchases of other investments

(500)


-


-


(500)


(4,000)

    Proceeds from sale of other investments

-


2,550


-


2,550


-

    Purchases of property and equipment

(27,494)


(25,667)


(14,079)


(130,779)


(60,920)

    Proceeds from sale of property and equipment

67


1,374


22,683


1,693


23,622

    Acquisition of business, net of cash acquired 

-


-


-


(319,231)


-

    Proceeds from sale of business, net of transaction costs 

-


-


-


-


475,150

    Proceeds from maturity of a note receivable 

-


-


10,000


-


10,000

Net cash (used in)/provided by investing activities

(36,813)


(32,063)


11,792


(520,086)


430,345











Financing activities:










   Issuance of common stock

20,985


8,515


14,980


111,628


81,040

   Purchases of common stock under repurchase program

(46,338)


(50,062)


(26,999)


(272,585)


(498,786)

Net cash used in financing activities

(25,353)


(41,547)


(12,019)


(160,957)


(417,746)











Effect of exchange rate changes on cash and cash equivalents

(1,668)


166


(528)


(1,399)


(1,349)











Net change in cash and cash equivalents

31,021


38,363


54,661


(308,283)


258,025











Cash and cash equivalents at beginning of period

440,507


402,144


725,150


779,811


521,786











Cash and cash equivalents at end of period

$       471,528


$         440,507


$       779,811


$       471,528


$       779,811











 

SOURCE LSI Corporation

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 Windstream, a leading provider of advanced network and cloud communications, has been named “Silver 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. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
"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.
Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment. Leveraging technologies proven in the Carrier and Enterprise markets, IStaX is designed to work ac...
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
The 3rd International @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 it is now accepting Keynote Proposals. 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 Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
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.
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
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...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world. The next @ThingsExpo will take place November 4-6, 2014, at the Santa Clara Convention Center, in Santa Clara, California. Since its launch in 2008, Cloud Expo TV commercials have been aired and CNBC, Fox News Network, and Bloomberg TV. Please enjoy our 2014 commercial.