|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%|
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
Mar. 5, 2015 03:15 PM EST Reads: 1,579
Every innovation or invention was originally a daydream. You like to imagine a “what-if” scenario. And with all the attention being paid to the so-called Internet of Things (IoT) you don’t have to stretch the imagination too much to see how this may impact commercial and homeowners insurance. We’re beyond the point of accepting this as a leap of faith. The groundwork is laid. Now it’s just a matter of time. We can thank the inventors of smart thermostats for developing a practical business application that everyone can relate to. Gone are the salad days of smart home apps, the early chalkb...
Mar. 5, 2015 03:15 PM EST Reads: 672
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Mar. 5, 2015 02:30 PM EST Reads: 3,147
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, representing a model of how to analyze rea...
Mar. 5, 2015 02:00 PM EST Reads: 1,555
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
Mar. 5, 2015 01:45 PM EST Reads: 3,383
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed expressly to run Docker. He will also discuss Rancher, an orchestration and service discovery platf...
Mar. 5, 2015 01:45 PM EST Reads: 725
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes for use cases across the industrial, enterprise, and consumer segments.
Mar. 5, 2015 01:45 PM EST Reads: 1,437
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, 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. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.
Mar. 5, 2015 01:00 PM EST Reads: 1,054
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
Mar. 5, 2015 01:00 PM EST Reads: 1,137
CommVault has announced that top industry technology visionaries have joined its leadership team. The addition of leaders from companies such as Oracle, SAP, Microsoft, Cisco, PwC and EMC signals the continuation of CommVault Next, the company's business transformation for sales, go-to-market strategies, pricing and packaging and technology innovation. The company also announced that it had realigned its structure to create business units to more directly match how customers evaluate, deploy, operate, and purchase technology.
Mar. 5, 2015 12:45 PM EST Reads: 750
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
Mar. 5, 2015 12:30 PM EST Reads: 3,390
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
Mar. 5, 2015 12:00 PM EST Reads: 3,709
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
Mar. 5, 2015 12:00 PM EST Reads: 1,507
Even as cloud and managed services grow increasingly central to business strategy and performance, challenges remain. The biggest sticking point for companies seeking to capitalize on the cloud is data security. Keeping data safe is an issue in any computing environment, and it has been a focus since the earliest days of the cloud revolution. Understandably so: a lot can go wrong when you allow valuable information to live outside the firewall. Recent revelations about government snooping, along with a steady stream of well-publicized data breaches, only add to the uncertainty
Mar. 5, 2015 11:15 AM EST Reads: 909
Mar. 5, 2015 10:30 AM EST Reads: 2,829
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness, and in-car entertainment and this excitement will bleed into other areas. On the commercial side, m...
Mar. 5, 2015 10:00 AM EST Reads: 3,577
PubNub on Monday has announced that it is partnering with IBM to bring its sophisticated real-time data streaming and messaging capabilities to Bluemix, IBM’s cloud development platform. “Today’s app and connected devices require an always-on connection, but building a secure, scalable solution from the ground up is time consuming, resource intensive, and error-prone,” said Todd Greene, CEO of PubNub. “PubNub enables web, mobile and IoT developers building apps on IBM Bluemix to quickly add scalable realtime functionality with minimal effort and cost.”
Mar. 5, 2015 10:00 AM EST Reads: 4,995
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
Mar. 5, 2015 09:45 AM EST Reads: 1,171
In the consumer IoT, everything is new, and the IT world of bits and bytes holds sway. But industrial and commercial realms encompass operational technology (OT) that has been around for 25 or 50 years. This grittier, pre-IP, more hands-on world has much to gain from Industrial IoT (IIoT) applications and principles. But adding sensors and wireless connectivity won’t work in environments that demand unwavering reliability and performance. In his session at @ThingsExpo, Ron Sege, CEO of Echelon, will discuss how as enterprise IT embraces other IoT-related technology trends, enterprises with i...
Mar. 5, 2015 09:00 AM EST Reads: 2,474
When it comes to the Internet of Things, hooking up will get you only so far. If you want customers to commit, you need to go beyond simply connecting products. You need to use the devices themselves to transform how you engage with every customer and how you manage the entire product lifecycle. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, will show how “product relationship management” can help you leverage your connected devices and the data they generate about customer usage and product performance to deliver extremely compelling and reliabl...
Mar. 5, 2015 09:00 AM EST Reads: 1,565