|By Business Wire||
|January 28, 2013 06:34 PM EST||
Transcat, Inc. (NASDAQ: TRNS) (“Transcat” or the “Company”), an accredited provider of calibration, repair, inspection and other compliance services and a leading distributor of professional grade handheld test, measurement and control instruments, today reported financial results for its third quarter ended December 29, 2012. Included in the reported results are those of Anacor Compliance Services, Inc., which the Company acquired on July 16, 2012.
Fiscal 2013 third quarter total revenue increased 3.0% to $29.3 million from $28.5 million in the third quarter of the prior fiscal year driven by Service segment revenue growth of 8.9%. Product segment sales were consistent with the prior fiscal year period at $19.4 million.
Net income was $0.8 million, or $0.10 per diluted share, in the third quarter of fiscal 2013, compared with $1.0 million, or $0.13 per diluted share, in the prior-year period.
Charles P. Hadeed, CEO of Transcat, commented, “Our acquisition strategy to expand our Service segment drove our growth in the quarter and helped to support overall margins in a challenging market environment for our Product segment. The Anacor acquisition led to 8.9% growth for the Service segment and also contributed to expanded operating and contribution margins for the segment. We have completed six acquisitions in the last three years, including Anacor, and we recently announced the acquisition of Cal-Matrix. In combination with our organic growth initiatives, we expect to continue to acquire high quality calibration labs that further expand our geographic footprint and capabilities.”
On January 25, 2013, the Company announced the acquisition of Cal-Matrix Metrology Inc., a leading Canadian provider of commercial and accredited calibrations and coordinate measurement inspection services. The acquisition greatly expands the Company’s presence in Canada by adding a second laboratory in Southern Ontario and a lab in Montreal, Quebec. Transcat now has 18 strategically located centers of excellence in the United States, Canada and Puerto Rico.
Service Segment Expansion Muted by Product Segment Declines
Operating income for the third quarter of fiscal 2013 was $1.2 million, a $0.4 million decrease from the prior fiscal year period. Operating margin declined 160 basis points to 4.2% in the third quarter of fiscal 2013 compared with 5.8% for the prior-year period. Total operating expenses in the third quarter of fiscal 2013 increased $0.3 million, or 5.3%, including upfront costs related to the Company’s deployment of Salesforce.com, a customer relationship management (“CRM”) software program which is expected to increase the efficiency of our sales teams.
During the third quarter of fiscal 2013, Transcat generated $1.9 million of EBITDA (earnings before interest, taxes, depreciation and amortization), a decrease of $0.5 million when compared with the same quarter of the prior fiscal year. Service segment EBITDA increased 15.5%, to $0.4 million, which was more than offset by a decrease in EBITDA attributable to the Product segment. See Note 1 on page 4 for a description of this non-GAAP financial measure and page 9 for the EBITDA Reconciliation table.
Service Segment Strengthened by Acquisition
Service Segment: Represents the Company’s accredited calibration, repair, inspection and other compliance services business (34% of total revenue for the third quarter of fiscal 2013)
“The third quarter Service segment revenue growth can largely be attributed to furthering our reach into the targeted life sciences industry with our recent acquisition of Anacor,” stated Lee D. Rudow, President and COO of Transcat. “While we have made strides growing with acquisitions, we intend to further increase our focus on organic growth as well, which we expect will lead to enhanced operating leverage and stronger cash flow generation.”
- Service segment revenue increased 8.9%, or $0.8 million, to $9.9 million in the third quarter of fiscal 2013 compared with the third quarter of the prior fiscal year.
- Third quarter fiscal 2013 Service segment gross profit improved $0.3 million, or 16.5%, to $2.1 million compared with the prior fiscal year period, while gross margin expanded 140 basis points over the same comparable period to 21.5%.
- Service segment contribution margin increased $0.3 million, or 65.4%, to $0.8 million compared with the third quarter of fiscal 2012. See Note 1 on page 4 for a description of this non-GAAP financial measure and page 10 for the Contribution Margin Reconciliation in the Business Segment Data.
- Operating expenses associated with the Service segment increased 5.9% to $2.1 million in the third quarter of fiscal 2013 compared with the third quarter of the prior fiscal year.
- Service segment operating income was basically break-even for the third quarter of fiscal 2013, an improvement from an operating loss of $0.2 million in the third quarter of fiscal 2012. Operating margin over the same comparable period improved 200 basis points.
- Service segment EBITDA increased 15.5% to $0.4 million in the fiscal 2013 third quarter compared with the third quarter of fiscal 2012. As a percentage of Service segment revenue, EBITDA for the Service segment was 4.1% and 3.8% in the third quarters of fiscal 2013 and 2012, respectively. See Note 1 on page 4 for a description of this non-GAAP financial measure and page 9 for the EBITDA Reconciliation table.
Product Segment Revenue Steady in a Challenging Market
Product Segment: Represents the Company’s distribution of professional grade handheld test and measurement instruments business (66% of total revenue for the third quarter of fiscal 2013)
- Product segment sales were $19.4 million in the third quarter of fiscal 2013, consistent with the prior-year period despite two fewer business days. Average Product segment sales per day increased 3.6% to $319 thousand in the third quarter of fiscal 2013, compared with $308 thousand in the same period of fiscal 2012.
- Online product sales increased 24.5% to $2.3 million in the third quarter of fiscal 2013 from $1.8 million in the prior-year period. Online sales accounted for 11.7% and 9.4% of Product segment sales in the third quarters of 2013 and 2012, respectively.
- Third quarter Product segment gross profit decreased $0.5 million to $4.5 million, or 23.2% of Product segment sales, primarily due to competitive pricing pressures and a $0.2 million reduction in volume-based rebate income.
- Product segment operating income decreased $0.6 million to $1.2 million in the third quarter of fiscal 2013 primarily as a result of the contraction in gross profit. Operating margin was 6.4% and 9.6% of Product segment sales in the third quarter of fiscal 2013 and 2012, respectively.
- Product segment EBITDA was $1.5 million, or 7.8% of segment sales, in the third quarter of fiscal 2013, compared with $2.1 million, or 11.0% of segment sales, in the prior-year period. See Note 1 on page 4 for a description of this non-GAAP financial measure and page 9 for the EBITDA Reconciliation table.
Total revenue increased to $81.2 million in the first nine months of fiscal 2013, up 2.5% from total revenue of $79.2 million in the first nine months of fiscal 2012. Revenue increases in the Service segment were partially offset by lower sales in the Product segment.
- Service segment revenue increased 10.7% to $28.5 million in the first nine months of fiscal 2013, compared with $25.7 million in the first nine months of fiscal 2012. Incremental revenue from recent acquisitions complemented by organic growth was partially offset by the strategic decision not to renew $0.8 million in low margin revenue from the Company outsourcing primarily non-calibration services for a specific customer.
- Product segment sales were $52.8 million in the first nine months of fiscal 2013, a decrease of 1.5% from $53.5 million in the same period of the prior fiscal year. Sales to both direct and reseller customers declined slightly, reflecting general economic conditions.
Gross margin was 23.3% in the first nine months of fiscal 2013 compared with 24.3% in the same period of the prior fiscal year.
- Service segment gross margin improved 60 basis points to 22.8% in the first nine months of fiscal 2013 compared with 22.2% in the same period of the prior fiscal year. Revenue growth in the Service segment included incremental revenue from recent acquisitions, which provided limited short-term gross margin expansion opportunity.
Product segment gross margin was 23.6% and 25.3% for the first nine
months of fiscal 2013 and 2012, respectively. The decline was
primarily a result of $0.7 million less in manufacturer rebates as
well as increased price discounts extended to customers, partially
offset by a
$0.3 million increase in cooperative advertising income.
Operating expenses increased modestly to $15.9 million in the first nine months of fiscal 2013, compared with the first nine months of the prior fiscal year. As a percentage of total revenue, operating expenses in the fiscal 2013 year-to-date period improved to 19.6% from 19.9% in the prior-year period reflecting lower performance-based compensation and acquisition-related expenses, partially offset by one-time sales organization restructuring charges and increased investments in our CRM software Salesforce.com.
Fiscal 2013 year-to-date operating income declined $0.5 million, or 13.5%, to $3.0 million compared with the same period of fiscal 2012. The decline reflects lower Product segment operating income partially offset by improved operating income within the Service segment. Operating margin for the same comparable period declined 70 basis points to 3.7%. Net income was $1.9 million, or $0.25 per diluted share, in the first nine months of fiscal 2013, compared with $2.1 million, or $0.27 per diluted share, in the prior-year period.
EBITDA was $4.9 million in the first nine months of fiscal 2013, compared with $5.7 million for the same period in fiscal 2012. See Note 1 on page 4 for a description of this non-GAAP financial measure and page 9 for the EBITDA Reconciliation table.
Strong and Flexible Balance Sheet
Net cash provided by operations was $2.4 million for the year-to-date period of fiscal 2013, compared with $2.5 million in the comparable period of fiscal 2012. The year-over-year change was the result of working capital requirements and timing.
Capital expenditures in the first nine months of fiscal 2013 were $2.2 million compared with $1.2 million in the first nine months of fiscal 2012, and were primarily for additional service capabilities, including implementing Salesforce.com, a larger laboratory in Nashville, TN and an additional calibration system to expand the Company’s pressure calibration capabilities. Business acquisitions were $3.1 million during the first nine months of fiscal 2013 and 2012.
As of December 29, 2012, the Company had $13.4 million in remaining availability under its $20 million secured revolving credit facility.
Mr. Hadeed stated, “For the long term, we continue to drive our strategy to grow the Service segment at a higher rate than our product business, both through acquisitions and organically, while continuing to expand the Product segment through increased market penetration. Given the operating leverage inherent in the Service segment, we expect over time this growth will strengthen our earnings power.
“For the fourth quarter of fiscal 2013, we will have one less sales week compared with the prior-year period as a result of our 52/53 week fiscal cycle. In addition, the delay in production tax credits for manufacturers in the wind industry may affect product sales for the remainder of the fiscal year. We expect our Service segment operating income to significantly increase while we face continued margin pressure within our Product segment.”
In addition to reporting net income, a U.S. generally accepted accounting principle (“GAAP”) measure, we present EBITDA (earnings before interest, income taxes, depreciation and amortization), which is a non-GAAP measure. The Company believes EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. EBITDA is not calculated through the application of GAAP and is not the required form of disclosure by the Securities and Exchange Commission. As such, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. See the attached EBITDA Reconciliation table on page 9.
Contribution margin, a non-GAAP financial measure, consists of gross profit less sales, marketing and warehouse expenses. We believe contribution margin provides management and users of the financial statements information about our ability to cover our operating costs, such as technology and general and administrative expenses. Contribution margin is used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. The material limitation associated with the use of contribution margin is that it is an incomplete measure of profitability as it does not include all operating expenses or non-operating income and expenses. Management compensates for these limitations when using this measure by looking at other GAAP measures, such as operating income (loss) and net income (loss). For further details on contribution margin, see the calculation of this non-GAAP financial measure and the reconciliation of contribution margin to gross profit on pages 10 and 11.
Transcat, Inc. is a leading provider of accredited calibration, repair, inspection and compliance services including analytical instrument qualifications, equipment and process validation. Targeted industries include life science, biotechnology, medical device, pharmaceutical and other FDA-regulated industries, industrial manufacturing, energy and utilities, chemical manufacturing and other industries. Throughout its 18 strategically located centers of excellence in the United States, Canada and Puerto Rico, Transcat delivers precise services with reliable turn-around times. The breadth and depth of measurement parameters addressed by Transcat’s ISO/IEC 17025 scopes of accreditation are believed to be among the best in the industry.
In addition, Transcat operates as a leading distributor of professional grade handheld test, measurement and control instrumentation. Through its distribution products segment, Transcat markets and distributes premier and propriety brand instruments to nearly 15,000 customers. The Company offers access to more than 25,000 test, measurement and control products.
Transcat’s growth strategy is to expand its product and service platform comprised of a balanced suite of test products and analytical, calibration, compliance, and validation services. The goal is to deliver specialized technical services with a quality assurance approach, which maximizes document accuracy and on-time job delivery. Transcat answers the call with cGMP, GLP, and GXP compliant services. Transcat can provide life science companies with a reliable alternative service and product solution to the OEMs and to the “generalist” service providers who cannot meet the client’s specialized needs.
More information about Transcat can be found on its website at: transcat.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events, or developments that Transcat, Inc. expects or anticipates will occur in the future, including but not limited to statements relating to anticipated revenue, profit margins, sales operations, its strategy to build its sales representative channel, customer preferences and changes in market conditions in the industries in which Transcat operates are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Transcat’s Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors.” Should one or more of these risks or uncertainties materialize, or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
|CONSOLIDATED STATEMENTS OF OPERATIONS|
|(In Thousands, Except Per Share Amounts)|
|Third Quarter Ended||Nine Months Ended|
|December 29,||December 24,||December 29,||December 24,|
|Cost of Products Sold||14,937||14,420||40,317||39,992|
|Cost of Services Sold||7,757||7,252||21,977||20,017|
Total Cost of Products and Services Sold
|Selling, Marketing and Warehouse Expenses||3,386||3,403||9,786||10,071|
Total Operating Expenses
|Interest and Other Expense, net||37||44||135||127|
|Income Before Income Taxes||1,184||1,609||2,860||3,337|
|Provision for Income Taxes||402||585||972||1,242|
|Basic Earnings Per Share||$||0.11||$||0.14||$||0.26||$||0.29|
|Average Shares Outstanding||7,417||7,325||7,399||7,301|
|Diluted Earnings Per Share||$||0.10||$||0.13||$||0.25||$||0.27|
|Average Shares Outstanding||7,562||7,680||7,575||7,647|
|CONSOLIDATED BALANCE SHEETS|
|(In Thousands, Except Share and Per Share Amounts)|
|December 29,||March 31,|
Accounts Receivable, less allowance for doubtful accounts of $100
and $99 as of December 29, 2012 and March 31, 2012, respectively
Prepaid Expenses and Other Current Assets
Deferred Tax Asset
Total Current Assets
|Property and Equipment, net||6,609||5,306|
|Intangible Assets, net||2,458||2,449|
|Deferred Tax Asset||332||-|
|LIABILITIES AND SHAREHOLDERS' EQUITY|
Accrued Compensation and Other Liabilities
Income Taxes Payable
Total Current Liabilities
|Deferred Tax Liability||-||139|
Common Stock, par value $0.50 per share, 30,000,000 shares authorized;
7,417,294 and 7,840,994 shares issued as of December 29, 2012 and
March 31, 2012, respectively; 7,417,294 and 7,341,007 shares
outstanding as of December 29, 2012 and March 31, 2012, respectively
Capital in Excess of Par Value
Accumulated Other Comprehensive Income
Less: Treasury Stock, at cost, 498,782 shares as of March 31, 2012
Total Shareholders' Equity
Total Liabilities and Shareholders' Equity
CONSOLIDATED STATEMENTS OF CASH FLOWS
Nine Months Ended
|Cash Flows from Operating Activities:|
|Adjustments to Reconcile Net Income to Net Cash|
|Provided by Operating Activities:|
|Deferred Income Taxes||(250||)||(105||)|
|Depreciation and Amortization||1,945||2,241|
|Provision for Accounts Receivable and Inventory Reserves||167||157|
|Stock-Based Compensation Expense||220||407|
|Changes in Assets and Liabilities:|
|Accounts Receivable and Other Receivables||(252||)||(2,387||)|
|Prepaid Expenses and Other Assets||(909||)||(627||)|
|Accrued Compensation and Other Liabilities||(1,038||)||873|
|Income Taxes Payable||(409||)||(42||)|
|Net Cash Provided by Operating Activities||2,350||2,535|
|Cash Flows from Investing Activities:|
|Purchase of Property and Equipment||(2,189||)||(1,233||)|
|Net Cash Used in Investing Activities||(5,318||)||(4,355||)|
|Cash Flows from Financing Activities:|
|Revolving Line of Credit, net||3,277||1,606|
|Payments on Other Debt Obligations||
|Payments of Contingent Consideration||(14||)||(88||)|
|Issuance of Common Stock||199||350|
|Repurchase of Common Stock||(110||)||(61||)|
|Excess Tax Benefits Related to Stock-Based Compensation||43||39|
|Net Cash Provided by Financing Activities||3,395||1,835|
|Effect of Exchange Rate Changes on Cash||
|Net Increase in Cash||427||25|
|Cash at Beginning of Period||32||32|
|Cash at End of Period||
|Fiscal Year 2013 and Fiscal Year 2012|
(Dollars in thousands)
|+ Interest Expense||21||38||20||79|
|+ Other Expense / (Income)||26||13||17||56|
|+ Tax Provision||186||384||402||972|
|+ Depreciation & Amortization||600||621||724||1,945|
|+ Other (Expense) / Income||(26||)||(13||)||(17||)||(56||)|
|Service Operating Income (Loss)||$||(258||)||$||333||$||(19||)||$||56|
|+ Depreciation & Amortization||359||422||439||1,220|
|+ Other (Expense) / Income||(18||)||(14||)||(18||)||(50||)|
|Product Operating Income||$||852||$||847||$||1,240||$||2,939|
|+ Depreciation & Amortization||241||199||285||725|
|+ Other (Expense) / Income||(8||)||1||1||(6||)|
|+ Interest Expense||28||28||35||91|
|+ Other Expense / (Income)||17||10||9||36|
|+ Tax Provision||200||457||585||1,242|
|+ Depreciation & Amortization||670||738||833||2,241|
|+ Other (Expense) / Income||(17||)||(10||)||(9||)||(36||)|
|Service Operating Income||$||(251||)||$||(216||)||$||(201||)||$||(668||)|
|+ Depreciation & Amortization||474||511||557||1,542|
|+ Other (Expense) / Income||(11||)||(9||)||(8||)||(28||)|
|Product Operating Income||$||821||$||1,457||$||1,854||$||4,132|
|+ Depreciation & Amortization||196||227||276||699|
|+ Other (Expense) / Income||(6||)||(1||)||(1||)||(8||)|
|Additional Information - Business Segment Data|
(Dollars in thousands)
|SERVICE||FY 2013 Q3||FY 2012 Q3||$'s||%|
|Cost of Services Sold||$||7,757||$||7,252||$||505||7.0||%|
|Selling, Marketing & Warehouse Expenses||$||1,313||$||1,334||$||(21||)||(1.6||%)|
|% of Revenue||8.2||%||5.4||%|
|% of Revenue||(0.2||%)||(2.2||%)|
|PRODUCT||FY 2013 Q3||FY 2012 Q3||$'s||%|
|Cost of Products Sold||$||14,937||$||14,420||$||517||3.6||%|
|Selling, Marketing & Warehouse Expenses||$||2,073||$||2,069||$||4||0.2||%|
|% of Sales||12.5||%||14.9||%|
|% of Sales||6.4||%||9.6||%|
|TOTAL||FY 2013 Q3||FY 2012 Q3||$'s||%|
|Total Cost of Products and Services Sold||$||22,694||$||21,672||$||1,022||4.7||%|
|Selling, Marketing & Warehouse Expenses||$||3,386||$||3,403||$||(17||)||(0.5||%)|
|% of Revenue||11.1||%||11.9||%|
|% of Revenue||4.2||%||5.8||%|
|Additional Information - Business Segment Data|
(Dollars in thousands)
|SERVICE||FY 2013 YTD||FY 2012 YTD||$'s||%|
|Cost of Services Sold||$||21,977||$||20,017||$||1,960||9.8%|
|Selling, Marketing & Warehouse Expenses||$||3,748||$||3,966||$||(218)||(5.5%)|
|% of Revenue||9.6%||6.7%|
|Operating Income (Loss)||$||56||$||(668)||$||724||108.4%|
|% of Revenue||0.2%||(2.6%)|
|PRODUCT||FY 2013 YTD||FY 2012 YTD||$'s||%|
|Cost of Products Sold||$||40,317||$||39,992||$||325||0.8%|
|Selling, Marketing & Warehouse Expenses||$||6,038||$||6,105||$||(67)||(1.1%)|
|% of Sales||12.1%||13.9%|
|% of Sales||5.6%||7.7%|
|TOTAL||FY 2013 YTD||FY 2012 YTD||$'s||%|
|Total Cost of Products and Services Sold||$||62,294||$||60,009||$||2,285||3.8%|
|Selling, Marketing & Warehouse Expenses||$||9,786||$||10,071||$||(285)||(2.8%)|
|% of Revenue||11.2%||11.6%|
|% of Revenue||3.7%||4.4%|
PRODUCT SALES PER BUSINESS DAY
(Dollars in thousands)
|FY 2013 Q3||FY 2012 Q3||$'s||%|
|Sales Per Business Day||$||319||$||308||$||11||3.6%|
|FY 2013 YTD||FY 2012 YTD||$'s||%|
|Sales Per Business Day||$||282||$||282||$||0||0.1%|
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
Sep. 30, 2014 10:30 AM EDT Reads: 1,478
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Sep. 29, 2014 06:45 AM EDT Reads: 1,873
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
Sep. 28, 2014 09:45 AM EDT Reads: 1,534
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Sep. 27, 2014 11:30 PM EDT Reads: 1,901
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
Sep. 27, 2014 10:30 PM EDT Reads: 1,821
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
Sep. 27, 2014 10:30 PM EDT Reads: 2,284
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
Sep. 27, 2014 09:45 PM EDT Reads: 2,492
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
Sep. 27, 2014 08:45 PM EDT Reads: 2,361
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
Sep. 27, 2014 01:00 PM EDT Reads: 2,041
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. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
Sep. 27, 2014 11:00 AM EDT Reads: 2,218
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
Sep. 26, 2014 11:45 PM EDT Reads: 1,536
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
Sep. 26, 2014 10:45 PM EDT Reads: 1,478
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
Sep. 26, 2014 07:45 PM EDT Reads: 2,290
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
Sep. 26, 2014 06:15 PM EDT Reads: 1,654
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Sep. 26, 2014 06:00 PM EDT Reads: 1,584
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
Sep. 26, 2014 05:00 PM EDT Reads: 1,584
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. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
Sep. 26, 2014 10:00 AM EDT Reads: 2,071
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
Sep. 26, 2014 10:00 AM EDT Reads: 1,529
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
Sep. 26, 2014 09:45 AM EDT Reads: 1,440
With the iCloud scandal seemingly in its past, Apple announced new iPhones, updates to iPad and MacBook as well as news on OSX Yosemite. Although consumers will have to wait to get their hands on some of that new stuff, what they can get is the latest release of iOS 8 that Apple made available for most in-market iPhones and iPads. Originally announced at WWDC (Apple’s annual developers conference) in June, iOS 8 seems to spearhead Apple’s newfound focus upon greater integration of their products into everyday tasks, cross-platform mobility and self-monitoring. Before you update your device, here is a look at some of the new features and things you may want to consider from a mobile security perspective.
Sep. 26, 2014 09:00 AM EDT Reads: 1,417