Welcome!

.NET Authors: Pat Romanski, Srinivasan Sundara Rajan, Tad Anderson, Adine Deford, Daniel Keeney

News Feed Item

Brookfield Office Properties Reports Strong Fourth Quarter and Full-Year 2012 Results

NEW YORK, NY -- (Marketwire) -- 02/01/13 -- Brookfield Office Properties Inc. (NYSE: BPO) (TSX: BPO) today announced its financial results for the quarter and year ended December 31, 2012. The financial results are based on International Financial Reporting Standards ("IFRS") unless otherwise noted.


                                   Three Months Ended    Twelve Months Ended
(US Millions, except per share
 amounts)                          12/31/12   12/31/11   12/31/12   12/31/11
                                  ---------  ---------  ---------  ---------
Funds from operations (1)         $     161  $     151  $     650  $     640
Net income attributable to common
 shareholders                           342        338      1,287      1,690
Commercial property net operating
 income (1)                             346        305      1,345      1,014
Fair value gains                        238        302      1,004        957

Per common share - diluted
  Net income                      $    0.59  $    0.58  $    2.25  $    2.92
  Funds from operations (1)            0.28       0.26       1.14       1.14
                                  ---------  ---------  ---------  ---------

(1) Non-IFRS measure. See definition under "Basis of Presentation"

Funds from operations ("FFO") for the year ended December 31, 2012 increased to $650 million or $1.14 per diluted common share, from $640 million or $1.14 per diluted common share in 2011. FFO, excluding a one-time break fee of $9 million paid to extend the duration and reduce the interest rate on a loan, was $170 million or $0.30 per diluted common share for the quarter ended December 31, 2012, compared with $151 million or $0.26 per diluted common share during the same period in 2011.

Net income attributable to common shareholders for the year ended December 31, 2012 was $1.29 billion or $2.25 per diluted share, compared with $1.69 billion or $2.92 per diluted share in 2011. Net income in the fourth quarter of 2012 was $342 million or $0.59 per diluted share, compared with $338 million or $0.58 per diluted share in the fourth quarter of 2011. Included in the current year net income is $238 million of fair value gains on the company's investment properties.

Commercial property net operating income for the year increased to $1.35 billion, compared with $1.01 billion in 2011. Commercial property net operating income for the fourth quarter of 2012 increased to $346 million, compared with $305 million in the fourth quarter of 2011, largely due to the impact of the newly developed Brookfield Place Perth and acquisition activity, offset by dispositions. Same property net operating income during the fourth quarter of 2012 increased by 5.3% compared with the same period in the prior year.

Value per common share at December 31, 2012 increased to $19.80 compared with $17.90 as at December 31, 2011, and the company's total return of $2.93 per diluted share represents a 16.4% return on opening value per common share.

OUTLOOK

"It was another successful year for Brookfield Office Properties, characterized by solid leasing achievements, expansion into new target markets, and the advancement of several major development projects," stated Dennis Friedrich, chief executive officer of Brookfield Office Properties. "We are poised to reap substantial benefits from these initiatives in 2013 and beyond as the economy continues its gradual improvement."

HIGHLIGHTS OF THE FOURTH QUARTER

Leased 1.6 million square feet of space during the quarter at an average net rent of $33.65 per square foot, representing a 35% increase over expiring net rents in the period. The portfolio occupancy rate finished the quarter at 92.0%. Full-year leasing totaled 6.8 million square feet.

Leasing highlights from the fourth quarter include:

New York - 429,000 square feet

  • A new 16-year lease with Transatlantic for 134,000 square feet at One Liberty Plaza
  • A five-year lease renewal with Cooley LLP for 106,000 at the Grace Building
  • 228,000 square feet (55,000 of which was subsequent to the fourth quarter) at Brookfield Place/World Financial Center, comprised of:
    • 105,000-square-foot renewal and expansion with XL Global at 200 Liberty St/1WFC
    • 57,000-square-foot renewal with D'Amato & Lynch at 225 Liberty St/2WFC
    • 55,000-square-foot new lease with Regus at 200 Vesey St/3WFC (subsequent to the fourth quarter)
    • 11,000-square-foot new lease with Mercury at 225 Liberty St/2WFC

Houston - 345,000 square feet

  • A three-year renewal with Hilcorp for 146,000 square feet at 1201 Louisiana Street
  • A one-year renewal with PricewaterhouseCoopers for 141,000 square feet at 1201 Louisiana Street

Calgary - 158,000 square feet

  • A six-year renewal with PwC Management Services for 95,000 at Suncor Energy Centre
  • A 13-year new lease with Deloitte Management for 43,000 at Bankers Court

Boston - 68,000 square feet

  • An 11-year new lease with Grant Thornton for 41,000 square feet at 75 State St.
  • A seven-year new lease with RBC Capital Markets for 15,000 square feet at 75 State St.

Received repayment of C$480 million in promissory notes from Brookfield Residential Properties Inc. (NYSE/TSX: BRP) in association with BRP's acquisition of the company's residential division in March 2011. The C$265 million senior note and the C$215 junior note were both paid in full ahead of maturity, adding significantly to Brookfield's liquidity.

Sold two non-core office assets, generating net proceeds of $182 million. The company sold 33 South Sixth St, Minneapolis, for gross proceeds of $206 million and its 50:50 joint venture KBR Tower, Houston, for gross proceeds of $175 million.

Sold additional Minneapolis asset, RBC Plaza, for $127 million, subsequent to the fourth quarter, generating net proceeds of $53 million.

Completed property-level financings totaling more than $400 million, netting proceeds of approximately $160 million. The company refinanced $280 million of debt in the United States at an average rate of 4.24% with an average term of 10 years, generating net new proceeds of $119 million; $45 million in Canada at an average rate of 4.06% with an average term of 11 years, generating net new proceeds of $25 million; and $83 million in Australia at an average rate of 5.63% with an average term of five years, generating net new proceeds of $16 million.

Redeemed all 8,000,000 outstanding Class AAA Preference Shares, Series F on January 31, 2013, for a total redemption price of C$25.1233 per share.

Acquired, along with Brookfield Strategic Real Estate Partners (BSREP), all of the outstanding equity of Thakral Holdings Group. Thakral is an Australian public real estate company with a portfolio of hotels, retail and commercial properties including a prime commercial office development site above Sydney's Wynyard Station transit hub. Brookfield Office Properties' equity interest in the entity is approximately 41% with a total investment of $140 million.

Acquired additional 37.5% interest in the 100 Bishopsgate development site in the City of London for approximately £ 47 million. This purchase brings Brookfield's interest in the project to 87.5%. 100 Bishopsgate is a 950,000-square-foot office tower in planning in central London.

Kicked off development at Manhattan West, New York and Bay Adelaide Centre East, Toronto. Construction commenced on the 2.6-acre platform at the company's 5-million-square-foot mixed-use project on Manhattan's west side; financing for the platform was secured with a $340 million loan from a consortium of banks subsequent to the fourth quarter. Construction also commenced at Bay Adelaide Centre East in Toronto, a 980,000-square-foot office tower anchored by lead tenant Deloitte with a targeted completion at the end 2015.

Won NAREIT's 'Leader in the Light' 2012 award in the "Large Cap Office" category for superior and sustained portfolio-wide energy use practices and sustainability initiatives.

GUIDANCE

Brookfield Office Properties announced full-year 2013 diluted funds from operations guidance in the range of $1.16 to $1.20 per share, with a mid-point of $670 million or $1.18 per share. The primary assumptions used for the mid-point of this guidance range are:

  • An increase in same-store commercial property net operating income of 3% in 2013, excluding Brookfield Place New York;
  • A decrease in occupancy from 92.0% to 91.0% by year-end 2013;
  • An exchange rate that assumes a stronger Canadian dollar at $0.98 to US$1.00, a stronger Australian dollar at $0.95 to US$1.00, and a stronger British pound sterling at £ 0.62 to US$1.00;
  • No acquisitions other than completing the purchase of the two operating assets in London acquired from Hammerson on June 30;
  • Dispositions totaling net proceeds of approximately $105 million, which are expected to be sold in the first half of the year (including RBC Plaza); and
  • $25 million of lease termination and debt repurchase gains.

Dividend Declaration
The Board of Directors of Brookfield Office Properties declared a quarterly common share dividend of $0.14 per share payable on March 29, 2013 to shareholders of record at the close of business on March 1, 2013. Shareholders resident in the United States will receive payment in U.S. dollars and shareholders resident in Canada will receive their dividends in Canadian dollars at the exchange rate on the record date, unless they elect otherwise. Common shareholders have the option to participate in the company's Dividend Reinvestment Program, in which all or a portion of cash dividends can be automatically reinvested in common shares. The quarterly dividends payable for the Class AAA Series G, H, J, K, L, N, P, R and T preferred shares were also declared payable on March 29, 2013 to shareholders of record at the close of business on March 15, 2013.

Basis of Presentation
This press release and accompanying financial information make reference to net operating income and funds from operations on a total and per share basis. Net operating income is defined as income from property operations after operating expenses have been deducted, but prior to deducting financing, administrative, fair value adjustments and income tax expenses. Brookfield Office Properties defines FFO attributable to common shareholders as income before fair value adjustments, income taxes and certain other non-cash items as and when they arise, less non-controlling interests in the foregoing. FFO is determined as FFO from consolidated properties, FFO from equity accounted investments and FFO from discontinued operations. The company uses net operating income and FFO to assess its operating results. Net operating income is important in assessing operating performance and FFO is a widely-used measure to analyze real estate. The company provides the components of net operating income and a full reconciliation from net income to FFO with the financial information accompanying this press release. The company reconciles FFO to net income as opposed to cash flow from operating activities as it believes net income is the most comparable measure. Total return represents the amount by which we increase the value of our common equity through funds from operations and the increase or decrease in value of our investment properties over a period of time. We believe that our performance is best assessed by considering these two components in aggregate, and over the long term, because that is the basis on which we make investment decisions and operate the business. In fact, if we were solely focused on short-term financial results, it is quite likely that we would operate the business very differently and, in our opinion, in a manner that would produce lower long-term returns. Net operating income, FFO and total return are measures which do not have any standard meaning and therefore may not be comparable to similar measures presented by other companies. When calculating diluted funds from operations and common equity per share in this press release, we exclude the effects of settling our capital securities -- corporate through the issuance of common shares, as we intend to redeem the capital securities for cash prior to conversion. This diluted calculation is not in accordance with IFRS. Diluted net income per share is calculated in accordance with IFRS.

Forward-Looking Statements
This press release, particularly the "Outlook" and "Guidance" sections, contains "forward-looking information" within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of the company and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as "expects," "anticipates," "plans," "believes," "estimates," "seeks," "intends," "targets," "projects," "forecasts" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may," "will," "should," "would" and "could."

Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: risks incidental to the ownership and operation of real estate properties including local real estate conditions, the ability to enter into new leases or renew leases on favorable terms, dependence on tenants' financial condition, uncertainties of real estate development, acquisition and disposition activity; the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits therefrom; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; changes in government regulation and legislation within the countries in which we operate; changes in tax laws, catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States.

We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

Conference Call
Analysts, investors and other interested parties are invited to participate in the company's live conference call reviewing 2012 fourth quarter and full-year results on Friday, February 1, 2013 at 11:00 a.m. eastern time. Scheduled speakers are Dennis Friedrich, chief executive officer, and Bryan Davis, chief financial officer. Management's presentation will be followed by a question and answer period.

To participate in the conference call, please dial 888.542.1139, pass code 5226794, five minutes prior to the scheduled start of the call. Live audio of the call will also be available via webcast at www.brookfieldofficeproperties.com. A replay of this call can be accessed through March 1, 2013 by dialing 888.203.1112, pass code 5226794. A replay of the webcast, as well as a podcast download, will be available at www.brookfieldofficeproperties.com for one year.

Supplemental Information
Investors, analysts and other interested parties can access Brookfield Office Properties' Supplemental Information Package before the market open on February 1, 2013 at www.brookfieldofficeproperties.com under the Investors/Financial Reports section. This additional financial information should be read in conjunction with this press release.

Brookfield Office Properties Profile
Brookfield Office Properties owns, develops and manages premier office properties in the United States, Canada, Australia and the United Kingdom. Its portfolio is comprised of interests in 110 properties totaling 76 million square feet in the downtown cores of New York, Washington, D.C., Houston, Los Angeles, Toronto, Calgary, Ottawa, London, Sydney, Melbourne and Perth, making Brookfield the global leader in the ownership and management of office assets. Landmark properties include Brookfield Places in Manhattan, Toronto and Perth, Bank of America Plaza in Los Angeles, Bankers Hall in Calgary and Darling Park in Sydney. The company's common shares trade on the NYSE and TSX under the symbol BPO. For more information, visit www.brookfieldofficeproperties.com.

All dollar references are in U.S. dollars unless noted otherwise.


CONSOLIDATED BALANCE SHEETS


(US Millions, except per share amounts) December 31, 2012  December 31, 2011
                                        -----------------  -----------------

Assets
Investment properties
  Commercial properties                 $          22,442  $          19,258
  Commercial developments                           1,138              1,412
Equity accounted investments(1)                     2,562              2,256
Receivables and other                                 734              1,290
Restricted cash and cash equivalents                  103                 69
Cash and cash equivalents                             362                434
Assets held for sale(2)                               138                425
                                        -----------------  -----------------
Total assets                            $          27,479  $          25,144
                                        -----------------  -----------------

Liabilities
Commercial property debt                $          11,448  $          10,635
Accounts payable and other liabilities              1,399              1,072
Deferred tax liabilities                              732                547
Liabilities associated with assets held                70                217
 for sale(3)
Capital securities                                    866                994
                                        -----------------  -----------------
Total liabilities                                  14,515             13,465
                                        -----------------  -----------------
Equity
Preferred equity                                    1,345              1,095
Common equity                                      10,086              9,080
                                        -----------------  -----------------
Total shareholders' equity                         11,431             10,175
Non-controlling interests                           1,533              1,504
                                        -----------------  -----------------
Total equity                                       12,964             11,679
                                        -----------------  -----------------
Total liabilities and equity            $          27,479  $          25,144
                                        -----------------  -----------------
Value per common share                  $           19.80  $           17.90
Value per common share - pre-tax        $           21.19  $           18.94
                                        -----------------  -----------------

(1) Includes properties and entities held through joint ventures and associates
(2) Comprises $137 million of commercial properties and $1 million of other assets at December 31, 2012 (December 31, 2011 -- $423 million and $2 million, respectively)
(3) Comprises $64 million of commercial property debt and $6 million of other liabilities at December 31, 2012 (December 31, 2011 -- $210 million and $7 million, respectively)




CONSOLIDATED STATEMENTS OF INCOME


(US Millions, except per share
 information)                      Three Months Ended    Twelve Months Ended
                                  --------------------  --------------------
                                   12/31/12   12/31/11   12/31/12   12/31/11
                                  ---------  ---------  ---------  ---------
Commercial property revenue       $     579  $     510  $   2,195  $   1,677
Direct commercial property expense      233        205        850        663
Interest and other income                24         16         87        130
Interest expense
  Commercial property debt              169        142        625        483
  Capital securities                     12         14         50         57
Administrative expense                   42         39        168        149
                                  ---------  ---------  ---------  ---------
Income (loss) from continuing
 operations before gains and other
 items, fair value gains, share of
 net earnings from equity
 accounted investments and income
 taxes                                  147        126        589        455
Gains (losses) and other items,
 net                                      -          -          -        150
Fair value gains (losses), net          238        302      1,004        957
Share of net earnings from equity
 accounted investments(1)                26        110        127        599
                                  ---------  ---------  ---------  ---------
Income (loss) from continuing
 operations before income taxes         411        538      1,720      2,161
Income taxes                             45        140        264        314
                                  ---------  ---------  ---------  ---------
Income (loss) from continuing
 operations                             366        398      1,456      1,847
Income (loss) from discontinued
 operations                               9         (4)        12         49
                                  ---------  ---------  ---------  ---------
Net income (loss)                 $     375  $     394  $   1,468  $   1,896
Non-controlling interests                33         56        181        206
                                  ---------  ---------  ---------  ---------
Net income (loss) attributable to
 common shareholders                    342        338      1,287      1,690
                                  ---------  ---------  ---------  ---------

(1) Includes valuation gains of $2 million and $79 million, respectively, for the three months ended December 31, 2012 and December 31, 2011, and gains of $22 million and $389 million for the twelve months ended December 31, 2012 and December 31, 2011, respectively




                                   Three Months Ended    Twelve Months Ended
                                  --------------------  --------------------
                                   12/31/12   12/31/11   12/31/12   12/31/11
                                  ---------  ---------  ---------  ---------
Earnings (loss) per share
 attributable to common
 shareholders - basic
Continuing operations             $    0.62  $    0.65  $    2.39  $    3.15
Discontinued operations                0.02      (0.01)      0.03       0.09
                                  ---------  ---------  ---------  ---------
                                  $    0.64  $    0.64  $    2.42  $    3.24
                                  ---------  ---------  ---------  ---------


                                   Three Months Ended    Twelve Months Ended
                                  --------------------  --------------------
                                   12/31/12   12/31/11   12/31/12   12/31/11
                                  ---------  ---------  ---------  ---------
Earnings (loss) per share
 attributable to common
 shareholders - diluted
Continuing operations             $    0.58  $    0.59  $    2.23  $    2.83
Discontinued operations                0.01      (0.01)      0.02       0.09
                                  ---------  ---------  ---------  ---------
                                  $    0.59  $    0.58  $    2.25  $    2.92
                                  ---------  ---------  ---------  ---------



RECONCILATION TO FUNDS FROM OPERATIONS


(US Millions, except per share
 amounts)                         Three Months Ended    Twelve Months Ended
                                 --------------------  --------------------
                                  12/31/12   12/31/11   12/31/12   12/31/11
                                 ---------  ---------  ---------  ---------
Net income (loss) attributable to
 common shareholders             $     342  $     338  $   1,287  $   1,690
Add (deduct) non-cash and certain
 other items:
  Fair value and other (gains)
   losses                             (238)      (302)    (1,004)      (957)
  Fair value adjustments in
   earnings from equity accounted
   investments                          (2)       (79)       (22)      (389)
  Gains (losses) and other items         -          -          -       (150)
  Non-controlling interests in
   above items                          22         46        118        151
  Income taxes                          45        140        264        314
  Discontinued operations(1)            (8)         8          7        (15)
  Cash payments under interest
   rate swap contracts                   -          -          -         (4)
                                 ---------  ---------  ---------  ---------
Funds from operations            $     161  $     151  $     650  $     640
Preferred share dividends              (20)       (17)       (70)       (58)
                                 ---------  ---------  ---------  ---------
FFO attributable to common
 shareholders                    $     141  $     134  $     580  $     582
                                 ---------  ---------  ---------  ---------
Weighted average common shares
 outstanding                         507.4      506.1      508.0      507.9
FFO per common share             $    0.28  $    0.26  $    1.14  $    1.14
                                 ---------  ---------  ---------  ---------

(1) Reflects fair value and other gains (losses) net of income taxes




TOTAL RETURN


(US Millions, except per share information)               2012       2011
                                                       ---------  ---------
Funds from operations                                  $     650  $     640
Fair value gains, net of non-controlling interests           910      1,198
Preferred share dividends                                    (70)       (58)
                                                       ---------  ---------
Total return                                           $   1,490  $   1,780
                                                       ---------  ---------
Total return per diluted share(1)                      $    2.93  $    3.50
                                                       ---------  ---------

(1) The calculation of total return per diluted share includes potential common shares at December 31, 2012, and December 31, 2011, from the exercise of options as well as restricted stock but excludes the effects of settling our capital securities in common shares as we intend to redeem our capital securities for cash prior to conversion




COMMERCIAL PROPERTY NET OPERATING INCOME


(US Millions)                     Three Months Ended    Twelve Months Ended
                                 --------------------  --------------------
                                  12/31/12   12/31/11   12/31/12   12/31/11
                                 ---------  ---------  ---------  ---------
Revenue from continuing
 operations                      $     579  $     510  $   2,195  $   1,677
Operating expenses                    (233)      (205)      (850)      (663)
                                 ---------  ---------  ---------  ---------
Net operating income             $     346  $     305  $   1,345  $   1,014
                                 ---------  ---------  ---------  ---------



DISCONTINUED OPERATIONS


(US Millions)                     Three Months Ended    Twelve Months Ended
                                 --------------------  --------------------
                                  12/31/12   12/31/11   12/31/12   12/31/11
                                 ---------  ---------  ---------  ---------
Commercial revenue from
 discontinued operations         $      11  $      14  $      54  $      55
Operating expenses                      (8)        (8)       (29)       (28)
                                 ---------  ---------  ---------  ---------
Commercial net operating income
 from discontinued operations            3          6         25         27
Residential development revenue          -          -          -         83
Operating expenses                       -          -          -        (70)
                                 ---------  ---------  ---------  ---------
Residential development net
 operating income                        -          -          -         13
Interest and other income                -          -          -          1
Interest expense                        (2)        (2)        (6)        (7)
                                 ---------  ---------  ---------  ---------
Funds from discontinued
 operations                              1          4         19         34
Fair value and other gains
 (losses)                                8         (9)        (7)        19
Income taxes related to
 discontinued operations and
 other                                   -          1          -         (4)
                                 ---------  ---------  ---------  ---------
Discontinued operations          $       9  $      (4) $      12  $      49
                                 ---------  ---------  ---------  ---------

Contact:
Melissa Coley
Vice President, Investor Relations and Communications
Tel: 212.417.7215
Email: Email Contact


More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, 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. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
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...
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...
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...
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.
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP and chief architect at BSQUARE Corporation; Seth Proctor, CTO of NuoDB, Inc.; and Andris Gailitis, C...
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 Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the technology industry and how do they see opportunities for other women in their area of expertise.
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 comprehe...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
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.