Click here to close now.




















Welcome!

Microsoft Cloud Authors: Eric Aarrestad, Greg O'Connor, Liz McMillan, Aleksei Gavrilenko, Elizabeth White

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
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.