Welcome!

.NET Authors: Lori MacVittie, Yeshim Deniz, Ivan Antsipau, Liz McMillan, Michael Bushong

News Feed Item

Anixter International Inc. Reports Fourth Quarter 2012 Results

Anixter International Inc. (NYSE: AXE) today reported record sales of $1.54 billion for the quarter ended December 28, 2012, a 3.0 percent increase compared to the year ago quarter. Organic sales growth, which excludes the impact of the following items, was flat year-over-year:

  • $31.0 million of sales from the second quarter acquisition of Jorvex
  • $8.6 million from the favorable effect of foreign exchange
  • $4.3 million from the favorable effect of copper pricing

Operating income of $38.6 million included pre-tax charges of $46.7 million attributable to:

  • Impairment of goodwill and long-lived assets of $15.3 million and $6.0 million, respectively, related to the change in reporting segments
  • Pension-related charge of $15.3 million
  • Restructuring charge of $10.1 million

After adjusting for the charges, operating income was $85.3 million compared to $91.6 million in the prior year period. Adjusted operating margin was 5.5 percent compared to 6.1 percent in the prior year period, driven primarily by a decrease in gross margin.

Adjusted net income from continuing operations was $43.5 million excluding the impairment, pension-related and restructuring charges of $38.3 million, net of tax. Adjusted net income was $47.8 million in the prior year quarter excluding a net tax benefit of $2.0 million.

Adjusted earnings from continuing operations was $1.32 per diluted share compared to an adjusted $1.43 per diluted share in the year ago quarter. The current quarter excluded the previously mentioned charges totaling $1.16 per diluted share while the prior year quarter excluded the previously mentioned tax benefit equating to $0.06 per diluted share. The $0.11 year-over-year decline in adjusted earnings per diluted share was primarily a result of the challenging global economy.

“In light of uneven global growth, we were pleased to achieve record fourth quarter and full year sales. This strong performance was driven by record sales in several areas of the business including Security Solutions, which continued to grow at a double digit rate to exceed $1 billion of sales for the year. Our ongoing focus on cost and balance sheet management enabled us to deliver solid operating performance and cash flow,” commented President and CEO, Bob Eck. “We continue to have a strong financial position, with a business model that generates substantial cash in periods of slower revenue growth, as highlighted by the current quarter and fiscal year.”

Income Statement Detail

Gross margin was 22.2 percent compared to 23.3 percent in the year ago quarter, primarily caused by a product mix shift within our Electrical and Electronic Wire and Cable and Enterprise Cabling and Security Solutions segments. Strong cost management resulted in flat operating expense year-over-year and a 50 basis point improvement in operating expense as a percent of sales, excluding the above mentioned charges.

Interest expense in the current quarter of $16.2 million increased by $4.2 million compared to the prior year quarter as a result of the $4.8 million of incremental expense associated with the second quarter of 2012 bond offering.

Excluding the impact of the impairment, pension-related and restructuring charges, the tax rate in the current quarter was 35.5 percent. In the first quarter of 2012, the Company recorded a benefit of $9.7 million related to the reversal of valuation allowances, and interest and penalties of $1.7 million related to the prior year. In the third quarter of 2012, the Company recorded an impairment charge and an inventory adjustment which reduced operating income by $28.4 million, or $27.4 million net of tax. Excluding all of these charges the full year tax rate was 36.5 percent. The full year results for the prior year included net tax benefits of $10.8 million primarily related to the reversal of deferred income tax valuation allowances, $2.0 million of which was recorded in the fourth quarter. Excluding this benefit, the adjusted tax rate in the prior year fourth quarter and full year was 38.0 percent and 37.4 percent, respectively.

Segment Update

In December of 2012, the Company announced a change in reportable segments without revising or restating historical financial statements for any period. The new segments are Enterprise Cabling and Security Solutions, Electrical and Electronic Wire and Cable and OEM Supply.

Enterprise Cabling and Security Solutions (“ECS”) sales of $800.0 million declined 1 percent from the prior year period, impacted by the continuation of the trends we experienced throughout 2012 with companies delaying commitments to data center investments. Partially offsetting the decline was a 12 percent increase in security sales, which accounted for approximately 28 percent of segment sales. Adjusted operating income was $44.3 million, excluding $12.3 million of pension-related and restructuring charges, compared to $48.7 million in the year ago quarter. Adjusted operating margin was 5.5 percent compared to 5.6 percent in the previous quarter and 6.0 percent in the year ago quarter. Persistent weakness in the European economy and a product mix shift as security becomes an increasing part of the overall sales mix were the primary drivers of the margin decline versus the previous periods.

Electrical and Electronic Wire and Cable (“W&C”) achieved record fourth quarter sales of $544.1 million, up 18 percent from the prior year period, reflecting the acquisition of Jorvex and the continued strength in our natural resource extraction and power generation businesses. The strength was geographically broad-based, including record fourth quarter sales in resource rich regions such as Canada, Latin America and the Middle East. Adjusted operating income was $43.7 million, excluding $8.5 million of pension-related and restructuring charges, compared to $39.4 million in the year ago quarter. Adjusted operating margin was 8.0 percent compared to 8.5 percent in the previous quarter and 8.6 percent in the year ago quarter. The change in margin was largely a result of a mix shift from OEM to Industrial products in North America, and an increase in lower margin project activity outside of the US.

OEM Supply (“OEM”) sales of $200.3 million declined by 12.4 percent from the prior year quarter driven by a year-over-year decline in heavy truck production levels in North America along with weaker manufacturing production levels in the European region. Adjusted operating loss was $2.7 million, excluding $25.9 million of impairment, pension-related and restructuring charges, compared to an operating profit of $3.5 million in the year ago quarter. Adjusted operating margin was negative 1.4 percent compared to 0.2 percent in the previous quarter and 1.5 percent in the year ago quarter.

Discussion of Impairment, Pension-related and Restructuring Charges

In connection with the previously announced change in reportable segments and in accordance with accounting guidance, the Company was required to reassign the carrying amount of goodwill to its new reporting units in the fourth quarter of 2012. This interim assessment of the recoverability of goodwill and the recoverability of the Company's long lived assets assigned to the reporting units concluded that the estimated fair value of the OEM Supply business was lower than the carrying value of the net assets. This result is primarily due to the poor global economic conditions that have disproportionately impacted this segment of our business, resulting in impairment charges of $21.3 million in the fourth quarter of 2012.

In the fourth quarter of 2012, the Company took two actions related to its U.S. defined benefit pension plan that will reduce future expenses and contributions. First, the Company offered a one-time lump sum payment option to terminated vested participants that resulted in an additional $34 million pension fund contribution by the Company to fund these payouts as well as a settlement charge of $15.3 million. These contributions were made using excess cash from operations, positively influencing the funded status of the plan. Second, the Company made changes to its existing U.S. defined benefit plan which are effective beginning December 31, 2013, that freeze benefits provided to employees hired on or before June 1, 2004. This change is similar to the change made in 2004 for any new employees.

Finally, recognizing the ongoing weak global economic conditions, the Company took further aggressive actions to reduce its cost structure across all segments and geographies, resulting in a $10.1 million charge in the fourth quarter of 2012. Most of the costs were severance-related expenses associated with a reduction in over 200 positions.

The combination of the amendment to the pension plan and the restructuring actions will drive approximately $20 million in annual cost savings beginning immediately.

Cash Flow and Leverage

Cash flow generated from operations was $16 million compared to $113 million in the year ago quarter. The lower cash generation in the quarter was primarily due to a lower rate of working capital improvement achieved in the current quarter compared to the prior year quarter as well as the $34 million of additional pension plan contribution. Full year cash flow was $142 million; however, excluding the additional pension plan contribution, full year cash flow would have been $176 million, compared to $144 million in the prior year.

“Our disciplined working capital and cash management processes give us the flexibility needed to manage through an uncertain economic environment. With a year-end cash balance of $89 million and an expectation of continuing positive cash flow, we constantly evaluate the optimal use of our funds,” commented Ted Dosch, Executive Vice-President and CFO. “Going forward, we will utilize future cash flows to invest in the growth of the business, capitalize on strategic acquisition opportunities, deleverage our balance sheet, and selectively return capital to shareholders through share repurchases and special dividends, as we did in 2012 with our 1 million share repurchase and $4.50 per share special dividend.”

Key capital structure and credit-related statistics for the fourth quarter:

  • Debt-to-total capital ratio of 50.3 percent compared to 44.7 percent at the end of 2011
  • Weighted average cost of borrowed capital of 6.3 percent compared to 5.1 percent in the year ago quarter
  • $422 million of availability under bank revolving lines of credit at quarter end
  • $82 million of outstanding borrowings under the $300 million accounts receivable securitization facility at quarter end

Business Outlook

“Our outlook for 2013 includes low to mid-single digit organic sales growth, which we believe will be weighted to the back half of the year. While global markets are difficult to predict, we took aggressive measures in 2012 that position us to continue to expand our leadership position within each of our segments, further leveraging our global supply chain platform to better serve our customers,” stated Eck. “With ongoing pressure on companies to reduce costs, our business model, which is based on helping our customers lower their supply chain costs and reduce execution risk, is of even greater value. We believe we are well positioned financially, operationally and strategically to capitalize on our opportunities.”

 

Financial Results from Continuing Operations

(In millions, except per share amounts)

       
Three Months Ended Twelve Months Ended
Dec. 28   Dec. 30 Percent Dec. 28   Dec. 30 Percent
2012 2011 Change 2012 2011 Change
Net Sales $ 1,544.4 $ 1,499.0 3 % $ 6,253.1 $ 6,146.9 2 %
Operating Income $ 38.6 $ 91.6 -58 % $ 282.5 $ 362.8 -22 %
Net Income $ 5.2 $ 49.8 -90 % $ 124.6 $ 200.7 -38 %
Diluted Earnings Per Share $ 0.16 $ 1.49 -89 % $ 3.69 $ 5.71 -35 %
Diluted Weighted Shares 33.1 33.5 -1 % 33.8 35.1 -4 %
 

Fourth Quarter Earnings Call

Anixter will host a conference call to discuss these results beginning at 9:30 am central time today, Tuesday, January 29, 2013. The call will be simulcast through Anixter’s investor relations website at www.anixter.com/investor. Additionally, the call may be accessed with the toll-free dial-in number 1 (888) 417-8465 or international toll free number 1 (719) 325-2452. Please use the pass code 4949555. A supplemental presentation titled “Fourth Quarter 2012 Highlights and Operating Review” will be posted to the Company’s investor relations website.

A replay of the conference call will be archived on the website and will also be available for 14 days, beginning at 12:30 pm central time on January 29, by dialing 888-203-1112 within the U.S. and Canada, or 719-457-0820 outside the U.S. and Canada. Please use the replay code 4949555.

About Anixter

Anixter International is a leading global distributor of enterprise cabling and security solutions, electrical and electronic wire & cable, OEM supply fasteners and other small parts. The Company adds value to the distribution process by providing its customers access to 1) innovative inventory management programs, 2) more than 450,000 products and over $1 billion in inventory, 3) approximately 220 warehouses with 7 million square feet of space, and 4) locations in over 250 cities in more than 50 countries. Founded in 1957 and headquartered near Chicago, Anixter trades on the New York Stock Exchange under the symbol AXE.

Safe Harbor Statement

The statements in this news release that use such words as “believe,” “expect,” “intend,” “anticipate,” “contemplate,” “estimate,” “plan,” “project,” “should,” “may,” ”will,” or similar expressions are forward-looking statements. They are subject to a number of factors that could cause the company’s actual results to differ materially from what is indicated here. These factors include general economic conditions, the level of customer demand particularly for capital projects in the markets we serve, changes in supplier sales strategies or financial viability, risks associated with the sale of nonconforming products and services, political, economic or currency risks related to foreign operations, inventory obsolescence, copper price fluctuations, customer viability, risks associated with accounts receivable, the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, and risks associated with integration of acquired companies. These uncertainties may cause our actual results to be materially different than those expressed in any forward looking statements. We do not undertake to update any forward looking statements. Please see the company’s Securities and Exchange Commission filings for more information.

Additional information about Anixter is available at anixter.com

   
ANIXTER INTERNATIONAL INC.
Condensed Consolidated Statements of Operations (Unaudited)    
   
 
Three Months Ended Twelve Months Ended
December 28, December 30, December 28, December 30,
(In millions, except per share amounts) 2012 2011 2012 2011
 
Net sales $ 1,544.4 $ 1,499.0 $ 6,253.1 $ 6,146.9
Cost of goods sold   1,201.5     1,150.3     4,844.4     4,739.5  
Gross profit 342.9 348.7 1,408.7 1,407.4
Operating expenses 283.0 257.1 1,077.7 1,044.6
Impairment of goodwill and long- lived assets   21.3     -     48.5     -  
Operating income 38.6 91.6 282.5 362.8
Interest expense (16.2 ) (12.0 ) (59.7 ) (50.1 )
Other, net   (1.8 )   (2.4 )   (13.6 )   (9.2 )
Income from continuing operations before taxes 20.6 77.2 209.2 303.5
Income tax expense   15.4     27.4     84.6     102.8  
Net income from continuing operations 5.2 49.8 124.6 200.7
(Loss) income from discontinued operations, net of tax   (0.1 )   (1.5 )   0.2     (12.5 )
Net income $ 5.1   $ 48.3   $ 124.8   $ 188.2  
 
Net income per share:
Basic:
Continuing operations $ 0.16 $ 1.50 $ 3.76 $ 5.87
Discontinued operations $ -   $ (0.05 ) $ 0.01   $ (0.37 )
Net income $ 0.16   $ 1.45   $ 3.77   $ 5.50  
Diluted:
Continuing operations $ 0.16 $ 1.49 $ 3.69 $ 5.71
Discontinued operations $ (0.01 ) $ (0.05 ) $ -   $ (0.35 )
Net income $ 0.15   $ 1.44   $ 3.69   $ 5.36  
 
Weighted average shares outstanding:
Basic 32.5 33.2 33.1 34.2
Diluted 33.1 33.5 33.8 35.1
 
Reporting Segments
Net sales:
Enterprise Cabling and Security Solutions $ 800.0 $ 809.2 $ 3,236.3 $ 3,245.3
Electrical and Electronic Wire and Cable 544.1 461.0 2,111.2 1,949.9
OEM Supply   200.3     228.8     905.6     951.7  
$ 1,544.4   $ 1,499.0   $ 6,253.1   $ 6,146.9  
Operating income:
Enterprise Cabling and Security Solutions $ 32.0 $ 48.7 $ 156.7 $ 184.8
Electrical and Electronic Wire and Cable 35.2 39.4 166.5 161.2
OEM Supply (28.6 ) 3.5 (29.9 ) 16.8
Corporate   -     -     (10.8 )   -  
$ 38.6   $ 91.6   $ 282.5   $ 362.8  
         
ANIXTER INTERNATIONAL INC.
Condensed Consolidated Balance Sheets
   
 
December 28, December 30,
(In millions) 2012 2011
(Unaudited)
Assets
 
Cash and cash equivalents $ 89.4 $ 106.1
Accounts receivable, net 1,225.5 1,151.0
Inventories 1,060.9 1,070.7
Deferred income taxes 40.7 37.7
Other current assets   33.6   37.4
Total current assets 2,450.1 2,402.9
 
Property and equipment, net 95.9 88.3
Goodwill 342.0 351.7
Other assets   201.6   191.1
Total assets $ 3,089.6 $ 3,034.0
 
Liabilities and Stockholders' Equity
 
Accounts payable $ 716.9 $ 706.5
Accrued expenses 249.5 317.4
Short-term debt   0.9   3.0
Total current liabilities 967.3 1,026.9
 
5.625% senior notes 350.0 -
1.0% convertible senior notes 297.8 280.3
5.95% senior notes 200.0 200.0
Accounts receivable securitization facility 82.0 175.0
10.0% senior notes 31.6 31.1
Revolving lines of credit and other 20.8 120.4
Other liabilities   170.2   199.1
Total liabilities 2,119.7 2,032.8
 
Stockholders' equity   969.9   1,001.2
$ 3,089.6 $ 3,034.0
 
Financial Measures That Supplement GAAP
This report includes certain financial measures computed using non-Generally Accepted Accounting Principles ("non-GAAP") components as defined by the Securities and Exchange Commission ("SEC"). The Company believes this information is useful to investors in order to provide a better understanding of the organic revenue growth trends of the Company on a comparable basis. Management does not use these non-GAAP financial measures for any purpose other than the reason stated above.
 
Organic revenue growth measures revenue excluding the effects of acquisitions, foreign exchange and copper pricing for comparison of current period results with the corresponding period of the prior year. The Company believes that this measure provides management and investors with a more complete understanding of underlying operating results and trends of established, ongoing operations by excluding the effect of acquisitions, foreign exchange and copper pricing, which are subject to volatility or can obscure underlying trends. Management recognizes that the term “organic revenue growth” may be interpreted differently by other companies and under different circumstances. Although this may have an effect on comparability of absolute percentage growth from company to company, the Company believes that these measures are useful in assessing trends of the Company business and may therefore be a useful tool in assessing period-to-period performance.
 
Fourth Quarter 2012 Sales Growth Trends (Unaudited)
    Fourth Quarter   Adjustments for:   Fourth Quarter  
2012 Acquisition   Foreign Exchange   Copper 2012 Fourth Quarter Organic
(as reported) Impact Impact Impact (as adjusted) 2011 Growth
(in millions)
Enterprise Cabling and Security Solutions
North America $ 577.9 $ - $ (2.0 ) $ - $ 575.9 $ 565.8 1.8 %
Europe 85.4 - 1.1 - 86.5 91.3 -5.1 %
Emerging Markets   136.7   -     (2.3 )   -     134.4   152.1 -11.7 %
Enterprise Cabling and Security $ 800.0 $ -   $ (3.2 ) $ -   $ 796.8 $ 809.2 -1.6 %
 
Electrical and Electronic Wire and Cable
North America $ 413.9 $ - $ (3.9 ) $ (4.2 ) $ 405.8 $ 365.5 11.0 %
Europe 72.5 - (0.9 ) (0.1 ) 71.5 77.2 -7.2 %
Emerging Markets   57.7   (31.0 )   (0.5 )   -     26.2   18.3 43.2 %
Electrical and Electronic Wire and Cable $ 544.1 $ (31.0 ) $ (5.3 ) $ (4.3 ) $ 503.5 $ 461.0 9.3 %
 
OEM Supply
North America $ 87.4 $ - $ - $ - $ 87.4 $ 99.7 -12.4 %
Europe 100.1 - 0.5 - 100.6 113.8 -11.8 %
Emerging Markets   12.8   -     (0.6 )   -     12.2   15.3 -19.1 %
OEM Supply $ 200.3 $ -   $ (0.1 ) $ -   $ 200.2 $ 228.8 -12.5 %
 
Total Anixter International $ 1,544.4 $ (31.0 ) $ (8.6 ) $ (4.3 ) $ 1,500.5 $ 1,499.0 0.1 %
 
Geographic Sales
North America $ 1,079.2 $ - $ (5.9 ) $ (4.2 ) $ 1,069.1 $ 1,031.0 3.7 %
Europe 258.0 - 0.7 (0.1 ) 258.6 282.3 -8.4 %
Emerging Markets   207.2   (31.0 )   (3.4 )   -     172.8   185.7 -6.9 %
Total Anixter International $ 1,544.4 $ (31.0 ) $ (8.6 ) $ (4.3 ) $ 1,500.5 $ 1,499.0 0.1 %
                               
Twelve Months Sales Growth Trends (Unaudited)
Twelve Months Adjustments for: Twelve Months
2012 Acquisition Foreign Exchange Copper 2012 Twelve Months Organic
(as reported) Impact Impact Impact (as adjusted) 2011 Growth
(in millions)
Enterprise Cabling and Security Solutions
North America $ 2,356.8 $ - $ 4.1 $ - $ 2,360.9 $ 2,301.3 2.6 %
Europe 338.5 - 15.5 - 354.0 380.8 -7.0 %
Emerging Markets   541.0   -     5.0     -     546.0   563.2 -3.1 %
Enterprise Cabling and Security $ 3,236.3 $ -   $ 24.6   $ -   $ 3,260.9 $ 3,245.3 0.5 %
 
Electrical and Electronic Wire and Cable
North America $ 1,662.0 $ - $ 6.9 $ 39.9 $ 1,708.8 $ 1,579.8 8.2 %
Europe 294.8 - 6.0 5.2 306.0 299.7 2.1 %
Emerging Markets   154.4   (62.8 )   1.7     -     93.3   70.4 32.6 %
Electrical and Electronic Wire and Cable $ 2,111.2 $ (62.8 ) $ 14.6   $ 45.1   $ 2,108.1 $ 1,949.9 8.1 %
 
OEM Supply
North America $ 405.9 $ - $ 0.1 $ - $ 406.0 $ 421.4 -3.7 %
Europe 438.6 - 18.5 - 457.1 469.5 -2.7 %
Emerging Markets   61.1   -     3.3     -     64.4   60.8 6.1 %
OEM Supply $ 905.6 $ -   $ 21.9   $ -   $ 927.5 $ 951.7 -2.5 %
 
Total Anixter International $ 6,253.1 $ (62.8 ) $ 61.1   $ 45.1   $ 6,296.5 $ 6,146.9 2.4 %
 
Geographic Sales
North America $ 4,424.7 $ - $ 11.1 $ 39.9 $ 4,475.7 $ 4,302.5 4.0 %
Europe 1,071.9 - 40.0 5.2 1,117.1 1,150.0 -2.9 %
Emerging Markets   756.5   (62.8 )   10.0     -     703.7   694.4 1.3 %
Total Anixter International $ 6,253.1 $ (62.8 ) $ 61.1   $ 45.1   $ 6,296.5 $ 6,146.9 2.4 %
                                                 

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have spoken with, or attended presentations from, utilities in the United States, South America, Asia and Europe. This session will provide a look at the CREPE drivers for SmartGrids and the solution spaces used by SmartGrids today and planned for the near future. All organizations can learn from SmartGrid’s use of Predictive Maintenance, Demand Prediction, Cloud, Big Data and Customer-facing Dashboards...
IoT is still a vague buzzword for many people. In his session at Internet of @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, will discuss the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. The presentation will also discuss how IoT is perceived by investors and how venture capitalist access this space. Other topics to discuss are barriers to success, what is new, what is old, and what the future may hold.
Whether you're a startup or a 100 year old enterprise, the Internet of Things offers a variety of new capabilities for your business. IoT style solutions can help you get closer your customers, launch new product lines and take over an industry. Some companies are dipping their toes in, but many have already taken the plunge, all while dramatic new capabilities continue to emerge. In his session at Internet of @ThingsExpo, Reid Carlberg, Senior Director, Developer Evangelism at salesforce.com, to discuss real-world use cases, patterns and opportunities you can harness today.
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!
Noted IoT expert and researcher Joseph di Paolantonio (pictured below) has joined the @ThingsExpo faculty. Joseph, who describes himself as an “Independent Thinker” from DataArchon, will speak on the topic of “Smart Grids & Managing Big Utilities.” Over his career, Joseph di Paolantonio has worked in the energy, renewables, aerospace, telecommunications, and information technology industries. His expertise is in data analysis, system engineering, Bayesian statistics, data warehouses, business intelligence, data mining, predictive methods, and very large databases (VLDB). Prior to DataArchon, he served as a VP and Principal Analyst with Constellation Group. He is a member of the Boulder (Colo.) Brain Trust, an organization with a mission “to benefit the Business Intelligence and data management industry by providing pro bono exchange of information between vendors and independent analysts on new trends and technologies and to provide vendors with constructive feedback on their of...
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.
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...
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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...
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...