Welcome!

.NET Authors: David Fletcher, Srinivasan Sundara Rajan, Pat Romanski, Tad Anderson, Adine Deford

News Feed Item

Resource America, Inc. Reports Operating Results for the First Fiscal Quarter Ended December 31, 2012

PHILADELPHIA, PA -- (Marketwire) -- 02/05/13 -- Resource America, Inc. (NASDAQ: REXI) (the "Company") reported adjusted income from continuing operations attributable to common shareholders, net of tax, a non-GAAP measure, of $1.4 million, or $0.06 per common share-diluted, for the first fiscal quarter ended December 31, 2012 as compared to an adjusted loss from continuing operations attributable to common shareholders, net of tax, of $2.6 million, or $0.13 per common share-diluted, for the first fiscal quarter ended December 31, 2011. A reconciliation of the Company's reported GAAP (loss) income from continuing operations before taxes to adjusted income (loss) from continuing operations attributable to common shareholders, net of tax, a non-GAAP measure, is included as Schedule I to this release.

The Company reported a GAAP net loss attributable to common shareholders of $1.4 million, or $0.07 per common share-diluted, for the first fiscal quarter ended December 31, 2012 as compared to net income attributable to common shareholders of $185,000, or $0.01 per common share-diluted, for the first fiscal quarter ended December 31, 2011.

Jonathan Cohen, CEO and President, commented, "Resource America's first fiscal quarter that ended December 31, 2012 was a solid one that reflects our progress and makes us excited about our prospects. Compared to just a year ago, our assets under management have increased by $2.0 billion, from $13.3 billion to $15.3 billion. In the first fiscal quarter, Resource Capital Corp and Resource Real Estate Opportunity REIT collectively raised over $90.0 million in new capital, which builds those companies and provides us with substantial future management fees. CVC Credit Partners, our corporate credit joint venture, closed a $450.0 million CLO during the first fiscal quarter and another $400.0 million CLO in January 2013, growing that business which is a top performer in a booming industry. Our balance sheet remains solid, with substantial liquidity and little debt, and we are generating positive adjusted operating cash earnings. All of these are positive trends that we expect to build upon."

Assets Under Management

The following table details the Company's assets under management by operating segment, which increased by $2.0 billion (15%) from December 31, 2011 to December 31, 2012:


                                       December 31,      December 31,
                                           2012              2011
                                     ---------------   ---------------
      Financial fund management      $  13.0 billion   $  11.1 billion
      Real estate                        1.8 billion       1.6 billion
      Commercial finance                 0.5 billion       0.6 billion
                                     -------           -------
                                     $  15.3 billion   $  13.3 billion
                                     =======           =======

A description of how the Company calculates assets under management is set forth in Item 1 of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2012.

Highlights for the First Fiscal Quarter Ended December 31, 2012 and Recent Developments

REAL ESTATE:

  • Fundraising:
    • Resource Real Estate Opportunity REIT, Inc. ("RRE Opportunity REIT") raised a record $42.2 million during the first fiscal quarter ended December 31, 2012. Through January 31, 2013, RRE Opportunity REIT has raised approximately $224.8 million in total equity capital.
    • Resource Capital Corp. ("RSO") raised $49.8 million of common and preferred equity capital during the first fiscal quarter ended December 31, 2012.
  • First Fiscal Quarter RRE Activity:
    • In October 2012, RRE sold a $16.1 million multifamily property on behalf of a joint venture with an existing partner in which RSO is a member. In connection with this sale, the Company received a $114,000 disposition fee.
    • In November 2012, on behalf of one of RRE's sponsored limited partnerships, acquired a multifamily rental property for $4.6 million. In connection with this purchase, the Company received a $47,000 acquisition fee and will receive asset and property management fees in the future.
    • In December 2012, on behalf of RRE Opportunity REIT, acquired four multifamily rental apartment properties for $24.3 million. In connection with this purchase, the Company received $493,000 in acquisition fees and will receive asset and property management fees in the future.
    • In December 2012, in connection with an additional $8.0 million of capital funding for a property acquired in June 2012 on behalf of RRE Opportunity REIT, the Company received an additional acquisition fee totaling $159,000.
  • Property Management: Resource Real Estate Management, Inc., the Company's property management subsidiary, increased the apartment units it manages to 19,267 units at 66 properties as of December 31, 2012 from 15,204 units at 55 properties as of December 31, 2011.
  • Increased Assets Under Management: The Company's real estate operating segment increased its assets under management at December 31, 2012 to $1.8 billion, an increase of $185.0 million, or 11%, from December 31, 2011.
  • Increased Revenues: Real estate revenues increased 52% to $13.2 million for the first fiscal quarter ended December 31, 2012 as compared to $8.7 million for the first fiscal quarter ended December 31, 2011.

FINANCIAL FUND MANAGEMENT:

  • New Collateralized Loan Obligation ("CLO"): In November 2012, CVC Credit Partners, L.P., ("CCP"), the Company's global joint venture with CVC Capital Partners SICAV-FIS, S.A. ("CVC"), closed Apidos CLO X (par value $450.0 million). In January 2013, CCP closed Apidos CLO XI (par value $400.0 million). In connection with these CLOs, CCP expects to receive approximately $5.9 million annually in asset management fees in the future.
  • Increased Assets Under Management: The Company's financial fund management operating segment increased its assets under management at December 31, 2012 to $13.0 billion, an increase of $1.9 billion, or 17%, from December 31, 2011.

COMMERCIAL FINANCE:

  • Lease Origination/Platform Growth. LEAF Commercial Capital, Inc. ("LEAF"), the Company's equipment leasing joint venture, continued to grow its lease origination and servicing operations during the first fiscal quarter ended December 31, 2012.
    • Lease and loan origination volume increased by 55% compared to the first fiscal quarter ended December 31, 2011; and
    • LEAF's commercial finance assets as of December 31, 2012 increased by 69% from December 31, 2011.
  • Increased Warehouse Capacity: LEAF expanded and renewed for two years, its Guggenheim Securities arranged revolving warehouse line as of December 31, 2012. This revolving line of credit was expanded to $192.0 million with the other existing facility participants, Well Fargo Capital Finance and Natixis increasing their commitment to LEAF as well. This renewal increases LEAF's overall warehouse capacity to over $340.0 million and these lines of credit provide liquidity to fund lease originations prior to utilizing the term securitization market for permanent financing.

CORPORATE/OTHER:

  • Share Repurchase Plan: In August 2012, the Company's Board of Directors authorized the Company to repurchase up to 5% of the Company's outstanding common shares. Since August 2012, the Company has repurchased over 382,000 shares at an average price of $6.53 under this plan.
  • Senior Note Modification: In December 2012, the Company modified $10.0 million of outstanding senior notes to extend the maturity date to March 31, 2015.
  • Corporate Credit Facility Modifications: In October 2012, the Company extended the maturity of its existing $3.5 million revolving credit facility with Republic Bank from December 2013 to December 2014. In November 2012, the Company extended the maturity of its revolving credit facility with TD Bank from August 2013 to December 2014 and eliminated the 6% interest rate floor.
  • Dividends: The Company's Board of Directors authorized the payment on January 31, 2013 of a $0.03 cash dividend per share on the Company's common stock to holders of record as of the close of business on January 18, 2013. RSO declared a cash dividend of $0.20 per common share for its fourth fiscal quarter ended December 31, 2012.

Resource America, Inc. is a specialized asset management company that uses industry specific expertise to evaluate, originate, service and manage investment opportunities for its own account and for outside investors in the real estate, financial fund management and commercial finance sectors as well as our joint ventures.

For more information, please visit our website at www.resourceamerica.com or contact investor relations at [email protected].

Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release and its other reports filed with the Securities and Exchange Commission. For information pertaining to risks relating to these forward-looking statements, reference is made to the section "Risk Factors" contained in Item 1A of the Company's Annual Report on Form 10-K and in other of its public filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements to reflect new or changing information or events except as may be required by law.

A registration statement relating to securities offered by RRE Opportunity REIT was declared effective by the SEC on June 16, 2010. A written prospectus relating to these securities may be obtained by contacting Resource Securities, Inc., 2005 Market Street, 15th Floor, Philadelphia, PA 19103.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The remainder of this release contains the Company's unaudited consolidated balance sheets, consolidated statements of operations and consolidated statements of cash flows and reconciliation of GAAP (loss) income from continuing operations before taxes to adjusted income (loss) from continuing operations attributable to common shareholders, net of tax.


                           RESOURCE AMERICA, INC.
                        CONSOLIDATED BALANCE SHEETS
                     (in thousands, except share data)

                                               December 31,   September 30,
                                                    2012           2012
                                               -------------  -------------
                                                (unaudited)
ASSETS
  Cash                                         $      11,899  $      19,393
  Restricted cash                                        638            642
  Receivables                                            468          3,554
  Receivables from managed entities and
   related parties, net                               38,685         41,051
  Investments in real estate, net                     18,041         19,149
  Investment securities, at fair value                25,533         22,532
  Investments in unconsolidated loan manager          37,221         36,356
  Investments in unconsolidated entities              13,156         12,993
  Property and equipment, net                          2,590          2,732
  Deferred tax assets, net                            35,373         34,565
  Other assets                                         6,726          3,776
                                               -------------  -------------
    Total assets                               $     190,330  $     196,743
                                               =============  =============

LIABILITIES AND EQUITY
Liabilities:
  Accrued expenses and other liabilities       $      21,556  $      23,042
  Payables to managed entities and related
   parties                                             3,567          4,380
  Borrowings                                          22,610         23,020
                                               -------------  -------------
    Total liabilities                                 47,733         50,442
                                               -------------  -------------

Commitments and contingencies

Equity:
  Preferred stock, $1.00 par value, 1,000,000
   shares authorized; none outstanding                    --             --
  Common stock, $.01 par value, 49,000,000
   shares authorized; 30,069,822 and
   29,866,664 shares issued (including
   nonvested restricted stock of 604,353 and
   403,195), respectively                                295            294
  Additional paid-in capital                         286,048        285,844
  Accumulated deficit                                (27,137)       (24,508)
  Treasury stock, at cost; 9,914,090 and
   9,756,955 shares, respectively                   (103,472)      (102,457)
  Accumulated other comprehensive loss               (13,416)       (13,080)
                                               -------------  -------------
    Total stockholders' equity                       142,318        146,093
  Noncontrolling interests                               279            208
                                               -------------  -------------
    Total equity                                     142,597        146,301
                                               -------------  -------------
                                               $     190,330  $     196,743
                                               =============  =============



                           RESOURCE AMERICA, INC.
                   CONSOLIDATED STATEMENTS OF OPERATIONS
                   (in thousands, except per share data)
                                (unaudited)

                                                    Three Months Ended
                                                       December 31,
                                               ----------------------------
                                                    2012           2011
                                               -------------  -------------
REVENUES:
Real estate                                    $      13,154  $       8,666
Financial fund management                              2,675          6,579
Commercial finance                                      (124)         3,419
                                               -------------  -------------
                                                      15,705         18,664
                                               -------------  -------------
COSTS AND EXPENSES:
Real estate                                            7,998          7,192
Financial fund management                              1,017          5,804
Commercial finance                                       (49)         1,963
General and administrative                             2,256          2,896
Gain on sale of leases and loans                          --            (37)
Provision for credit losses                            5,152          2,250
Depreciation and amortization                            492          2,061
                                               -------------  -------------
                                                      16,866         22,129
                                               -------------  -------------
OPERATING LOSS                                        (1,161)        (3,465)
                                               -------------  -------------

OTHER INCOME (EXPENSE):
Gain on deconsolidation and sale of
 subsidiaries                                             --          8,749
Loss on extinguishment of debt                            --         (2,190)
Gain on sale of investment securities, net                --             58
Interest expense                                        (522)        (2,974)
Other income, net                                        588            559
                                               -------------  -------------
                                                          66          4,202
                                               -------------  -------------
(Loss) income from continuing operations
 before taxes                                         (1,095)           737
Income tax (benefit) provision                          (241)           154
                                               -------------  -------------
(Loss) income from continuing operations                (854)           583
Loss from discontinued operations, net of tax             (6)           (20)
                                               -------------  -------------
Net (loss) income                                       (860)           563
Add: net income attributable to noncontrolling
 interests                                              (587)          (378)
                                               -------------  -------------
Net (loss) income attributable to common
 shareholders                                  $      (1,447) $         185
                                               =============  =============

Amounts attributable to common shareholders:
(Loss) income from continuing operations       $      (1,441) $         205
Discontinued operations                                   (6)           (20)
                                               -------------  -------------
Net (loss) income                              $      (1,447) $         185
                                               =============  =============

Basic (loss) earnings per share:
Continuing operations                          $       (0.07) $        0.01
Discontinued operations                                   --             --
                                               -------------  -------------
Net (loss) income                              $       (0.07) $        0.01
                                               =============  =============
Weighted average shares outstanding                   20,077         19,641
                                               =============  =============

Diluted (loss) earnings per share:
Continuing operations                          $       (0.07) $        0.01
Discontinued operations                                   --             --
                                               -------------  -------------
Net (loss) income                              $       (0.07) $        0.01
                                               =============  =============
Weighted average shares outstanding                   20,077         20,039
                                               =============  =============



                           RESOURCE AMERICA, INC.
                   CONSOLIDATED STATEMENTS OF CASH FLOWS
                               (in thousands)

                                                    Three Months Ended
                                                       December 31,
                                               ----------------------------
                                                    2012           2011
                                               -------------  -------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income                              $        (860) $         563
Adjustments to reconcile net (loss) income to
 net cash used in operating activities:
  Depreciation and amortization                          550          3,087
  Provision for credit losses                          5,152          2,250
  Unrealized gain on trading securities                 (164)            --
  Equity in earnings of unconsolidated
   entities                                           (1,201)          (557)
  Distributions from unconsolidated entities           1,011          1,163
  Gain on sale of leases and loans                        --            (37)
  Gain on sale of investment securities, net            (307)           (58)
  Gain on sale of assets                                (831)            --
  Gain on sale and deconsolidation of
   subsidiaries                                           --         (8,749)
  Loss on extinguishment of debt                          --          2,190
  Deferred income tax (benefit) provision               (241)           154
  Equity-based compensation issued                       205            498
  Equity-based compensation received                    (206)            --
Trading securities purchases and sales, net           (1,828)            --
Loss from discontinued operations                          6             20
Changes in operating assets and liabilities           (4,666)        (1,432)
                                               -------------  -------------
Net cash used in operating activities                 (3,380)          (908)
                                               -------------  -------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures                                     (80)          (106)
Payments received on real estate loans and
 real estate                                             712          1,550
Investments in real estate and unconsolidated
 real estate entities                                 (1,012)          (127)
Purchase of commercial finance assets                     --        (18,483)
Principal payments received on leases and
 loans                                                     3          9,031
Cash divested on deconsolidation of LEAF                  --         (2,284)
Purchase of investments                               (1,323)          (600)
Proceeds from sale of loans and investments               --            207
                                               -------------  -------------
Net cash used in investing activities                 (1,700)       (10,812)
                                               -------------  -------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings                                    --        128,845
Principal payments on borrowings                        (229)      (123,823)
Dividends paid                                          (593)          (569)
Repurchase of common stock                            (1,078)          (939)
Preferred stock dividends paid by LEAF to RSO             --           (188)
Decrease (increase) in restricted cash                     3           (633)
Other                                                   (150)        (2,250)
                                               -------------  -------------
Net cash (used in) provided by financing
 activities                                           (2,047)           443
                                               -------------  -------------

CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities                                    (367)          (375)
                                               -------------  -------------
Net cash used in discontinued operations                (367)          (375)
                                               -------------  -------------

Decrease in cash                                      (7,494)       (11,652)
Cash, beginning of year                               19,393         24,455
                                               -------------  -------------
Cash, end of period                            $      11,899  $      12,803
                                               =============  =============



Schedule I

            RECONCILIATION OF GAAP (LOSS) INCOME FROM CONTINUING
           OPERATIONS BEFORE TAXES TO ADJUSTED INCOME (LOSS) FROM
 CONTINUING OPERATIONS ATTRIBUTABLE TO COMMON SHAREHOLDERS, NET OF TAX (1)
                   (in thousands, except per share data)
                                (unaudited)

                                                    Three Months Ended
                                                       December 31,
                                               ----------------------------
                                                    2012           2011
                                               -------------  -------------
(Loss) income from continuing operations
 before taxes - GAAP                           $      (1,095) $         737
Income attributable to noncontrolling
 interests - pre-tax                                    (865)          (249)
                                               -------------  -------------
(Loss) income from continuing operations
 attributable to common shareholders - pre-tax        (1,960)           488
                                               -------------  -------------

Commercial finance adjustments, pre-tax:
Loss (income) from operations                          4,582         (4,849)
Noncontrolling interests                                  --            223
                                               -------------  -------------
Commercial finance operations                          4,582         (4,626)
                                               -------------  -------------

Adjusted income (loss) from continuing
 operations attributable to common
 shareholders - pre-tax                                2,622         (4,138)
Income tax provision (benefit) (2)                     1,245         (1,527)
                                               -------------  -------------
Adjusted income (loss) from continuing
 operations attributable to common
 shareholders, net of tax                      $       1,377  $      (2,611)
                                               =============  =============

Adjusted weighted average diluted shares
 outstanding (3)                                      21,199         19,641
                                               =============  =============

Adjusted income (loss) from continuing
 operations attributable to common
 shareholders, net of tax, per common per
 share-diluted                                 $        0.06  $       (0.13)
                                               =============  =============

1. Adjusted income (loss) from continuing operations attributable to common
   shareholders, net of tax, presents the Company's operations without the
   effect of its commercial finance operations. The Company believes that
   this provides useful information to investors since it allows investors
   to evaluate the Company's progress in both its real estate and financial
   fund management segments for the three months ended December 31, 2012 and
   2011 separately from its commercial finance operations. Adjusted income
   (loss) from continuing operations attributable to common shareholders,
   net of tax, should not be considered as an alternative to (loss) income
   from continuing operations before taxes (computed in accordance with
   GAAP). Instead, adjusted income (loss) from continuing operations
   attributable to common shareholders, net of tax, should be reviewed in
   connection with (loss) income from continuing operations before taxes in
   the Company's consolidated financial statements, to help analyze how the
   Company's business is performing.

2. Income tax provision (benefit) is calculated using the Company's tax rate
   for the period, excluding one-time tax adjustments.

3. Dilutive shares used in the calculation of adjusted income from
   continuing operations attributable to common shareholders per common
   share-diluted includes an additional 1.1 million shares for the three
   months ended December 31, 2012, which were antidilutive for the period
   and, as such, were not used in the calculation of GAAP loss from
   continuing operations attributable to common shareholders per common
   share-diluted.

CONTACT:
THOMAS C. ELLIOTT
CHIEF FINANCIAL OFFICER
RESOURCE AMERICA, INC.
ONE CRESCENT DRIVE, SUITE 203
PHILADELPHIA, PA 19112
(215) 546-5005
(215) 640-6357 (fax)

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
SYS-CON Events announced today that IDenticard 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. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
DevOps Summit 2015 New York, 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 it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, 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.
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
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...
"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.
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...
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.