Welcome!

Microsoft Cloud Authors: Lori MacVittie, Elizabeth White, Yeshim Deniz, Serafima Al, Janakiram MSV

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
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"We view the cloud not as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo (http://www.CloudComputingExpo.com), held June 7-9 at the Javits Center in New York City, NY.
The Founder of NostaLab and a member of the Google Health Advisory Board, John is a unique combination of strategic thinker, marketer and entrepreneur. His career was built on the "science of advertising" combining strategy, creativity and marketing for industry-leading results. Combined with his ability to communicate complicated scientific concepts in a way that consumers and scientists alike can appreciate, John is a sought-after speaker for conferences on the forefront of healthcare science,...