|By Business Wire||
|February 7, 2013 04:00 PM EST||
NIC Inc. (NASDAQ: EGOV), the premier provider of eGovernment services, today announced net income of $8.6 million and earnings per share of 13 cents on total revenues of $57.2 million for the three months ended December 31, 2012. Operating income was $12.4 million for the current quarter, up 29 percent from the prior year quarter. In fourth quarter 2011, the company reported net income of $5.5 million and earnings per share of 8 cents on total revenues of $45.1 million.
Fourth Quarter 2012 Performance
Fourth quarter 2012 portal revenues were $54.4 million, a 29 percent increase over fourth quarter 2011. On a same state basis, portal revenues were up 24 percent in the current quarter. Same state transaction-based revenues from non-driver record (non-DMV) services rose 43 percent over fourth quarter 2011 primarily due to strong performance from a full quarter of revenues from the Texas motor vehicle inspection service, the first service launched as part of the DPS Direct suite of services in September 2012, and from increased adoption of several business and citizen-related services in New Jersey. Same state DMV revenues increased 1 percent, while same state time & materials revenues relating to portal software development rose 18 percent.
“eGovernment is about using all of the technology channels available in order to conduct business with government securely and efficiently, whether through a mobile app, online, or an over-the-counter service,” said Harry Herington, NIC Chief Executive Officer and Chairman of the Board. “Once again this quarter, we demonstrated that our focus on developing these services is a main driver of our Company’s growth.”
Current quarter revenues from the Maryland portal, which began generating revenues in May 2012, were $1.3 million, while revenues from the Oregon portal, which began generating revenues in June 2012, were $0.8 million. Current quarter cost of portal revenues included approximately $1.7 million in costs from these portals. Cost of portal revenues in the prior year quarter included approximately $0.5 million of portal related start-up costs for these portals.
Portal gross profits increased to $21.0 million, a 27 percent increase over the prior year quarter. NIC’s portal gross profit percentage was 39 percent in both the current and prior year quarters.
Selling & administrative expenses were $8.3 million in the current quarter, up 13 percent from the fourth quarter of 2011, driven by costs to enhance corporate-wide information technology and security infrastructure as a result of the Company’s growth. As a percentage of total revenues, selling & administrative expenses were 15 percent in the current quarter, down from 16 percent in the fourth quarter of 2011.
Depreciation & amortization expense in the current quarter increased 70 percent from the prior year quarter to $2.1 million, due mainly to capital expenditures for the Texas motor vehicle inspection service and to enhance corporate-wide information technology and security infrastructure. As a percentage of total revenues, depreciation & amortization expense was 4 percent in the current quarter, up from 3 percent in the prior year quarter.
The Company’s effective tax rate in the current quarter decreased to 30 percent from 42 percent in the prior year quarter, due to several factors, including the effective settlement of an IRS examination and the related decrease in the liability for uncertain tax positions, along with changes in state taxes.
Fourth Quarter Operational Highlights
As previously announced, the Commonwealth of Pennsylvania signed a five-year contract with NIC subsidiary, Pennsylvania Interactive, LLC, during the fourth quarter. The contract also includes an additional renewal term at the option of the state that could extend the contract through December 2022. Also during the fourth quarter, Oklahoma renewed its contract for one year, extending the contract through December 2013.
On December 18, 2012 NIC was added to the S&P SmallCap 600 Index. The index includes companies with a market capitalization of $300 million to $1.4 billion.
Full-Year 2012 Performance
Fiscal year 2012 total revenues rose 17 percent to $211.1 million, and portal revenues grew 17 percent to $199.4 million, exceeding the high end of the Company’s 2012 revenue guidance. Revenue growth in 2012 was driven by steady same state revenue growth, contributions from newer portals in Maryland, Oregon, Delaware, and Mississippi, as well as the launch of the Texas motor vehicle inspection service in September 2012, and new non-DMV services in New Jersey. On a same state basis, portal revenues were 10 percent higher than in 2011, with same state non-DMV transaction revenues growing 21 percent and same state DMV revenues down 1 percent for the year. Same state time & materials revenues relating to portal software development increased 5 percent for the year, while same state portal management revenues increased 1 percent for the year.
Software & services revenues were $11.8 million, up 11 percent from 2011, driven by a $1.5 million, or 24 percent, increase in revenues from the federal Pre-employment Screening Program. This contributed to a 17 percent increase in software & services gross profits to $7.7 million for the year.
Selling & administrative expenses as a percentage of total revenues were 16 percent in both the current year and prior year.
Depreciation & amortization expense was $6.3 million, up 38 percent from 2011, due mainly to capital expenditures for the Texas motor vehicle inspection service and to enhance corporate-wide information technology and security infrastructure. As a percentage of total revenues, depreciation & amortization expense was 3 percent in both the current year and prior year.
Operating income increased 12 percent to $43.2 million for the year, and NIC’s operating income margin was 20 percent in 2012 compared to 21 percent in 2011.
The Company’s effective tax rate for the year was 39 percent, down from 40 in the prior year, due to several factors, including the effective settlement of an IRS examination and the related decrease in the liability for uncertain tax positions, along with changes in state taxes.
NIC earned 40 cents per share in 2012, up from 35 cents in 2011, exceeding the high end of the Company’s 2012 earnings guidance.
On January 3, 2012 and December 5, 2012, NIC paid a special cash dividend to stockholders of $0.25 per share. NIC used a total of $32.5 million of its cash reserves to pay the special dividends. Of the dividends paid in 2012, 24.59 percent was return of capital and 75.41 percent was an ordinary qualified dividend. Stockholders are encouraged to consult with their tax specialists regarding the circumstances of their particular tax situations.
“This was a successful year of investment and operational execution for NIC,” said Steve Kovzan, NIC’s Chief Financial Officer. “While the Texas DPS Direct and Oregon contracts required significant start-up investment in the first three quarters of the year, we were pleased to see these new contracts, in addition to the Maryland, Delaware and Mississippi portal contracts awarded in 2011, contribute favorably to our bottom line exiting the year. We believe they should continue to serve as catalysts for growth in 2013 and beyond.”
Full-Year 2013 Outlook
For full-year 2013, NIC currently expects total revenues of $232.0 - $238.5 million, with portal revenues ranging from $220.0 - $226.0 million and software & services revenues ranging from $12.0 - $12.5 million. The Company also currently expects operating income to range from $45.2 - $49.2 million and net income of $27.0 - $29.6 million, with earnings per share ranging from 42 - 46 cents.
Portal gross profit margins for the year are currently expected to remain in the upper-30 percent range, while software & services gross profit margins are currently expected to be in the low-60 percent range.
Selling & administrative expenses are currently expected to approximate 16 percent of total revenues. Depreciation & amortization expense as a percentage of total revenues is expected to approximate at least 4 percent in 2013, with capital expenditures currently expected to range from $5.0 - $5.5 million for the year.
“Our financial guidance reflects our expectation of continued solid performance from our portal business with healthy organic revenue growth, a meaningful top and bottom line contribution from a full year of our new self-funded contract with the Commonwealth of Pennsylvania, and continued investment in our corporate-wide information technology infrastructure as a result of our growth,” said Steve Kovzan, NIC’s Chief Financial Officer. “We also enter 2013 with a solid new state pipeline and a focus to grow our Federal presence longer term, both of which we hope will contribute favorably to our future growth.”
2013 projections include a full year of portal revenues and costs from the Pennsylvania contract, but do not include revenues or costs from any unannounced contracts.
Fourth Quarter Earnings Call and Webcast Details
On the call, the Company will discuss its 2012 fourth quarter, full-year financial results, its guidance for 2013, and answer questions from the investment community. The call may also include discussion of company developments, and forward-looking and other material information about business and financial matters.
Thursday, February 7, 2013
4:30 p.m. (EST)
Call bridge: 877-941-8609 (U.S. callers) or 480-629-9692 (international callers)
|Call leaders:||Harry Herington, Chief Executive Officer and Chairman of the Board|
|Steve Kovzan, Chief Financial Officer|
|Robert Knapp, Chief Operating Officer|
To sign in and listen: The Webcast system is available at http://www.egov.com/investors.
A replay of NIC’s fourth quarter earnings call will be available until 11 p.m. (EDT) on August 7, 2013, by visiting http://www.egov.com/investors.
NIC Inc. (NASDAQ: EGOV) is the nation's leading provider of official government portals and online services, and secure government payment processing solutions. The company's innovative eGovernment services help reduce costs and increase efficiencies for government agencies, citizens, and businesses across the country. The NIC family of companies provides eGovernment solutions for more than 3,500 federal, state, and local agencies across the United States. Additional information is available at http://www.egov.com.
Cautionary Statement Regarding Forward-Looking Information
Any statements contained in this release that do not relate to historical or current facts constitute forward-looking statements. These statements include statements regarding the Company’s potential financial performance for the current fiscal year, statements regarding the planned implementation of new portal contracts and statements regarding continued implementation of NIC’s business model and its development of new products and services. Forward-looking statements are subject to inherent risks and uncertainties and there can be no assurance that such statements will prove to be correct. There are a number of important factors that could cause actual results to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, NIC’s ability to successfully integrate into its operations recently awarded eGovernment contracts; NIC's ability to implement its new portal contracts in a timely and cost-effective manner; NIC’s ability to successfully increase the adoption and use of eGovernment services; the possibility of reductions in fees or revenues as a result of budget deficits, government shutdowns or changes in government policy; the success of the Company in renewing existing contracts and in signing contracts with new states and federal government agencies; continued favorable government legislation; NIC’s ability to develop new services; existing states and agencies adopting those new services; acceptance of eGovernment services by businesses and citizens; competition; the possibility of security breaches through cyber attacks; and general economic conditions and the other important cautionary statements and risk factors described in NIC's 2011 Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 24, 2012 and in NIC’s Quarterly Reports on Form 10-Q filed with the SEC in 2012. Any forward-looking statements made in this release speak only as of the date of this release. NIC does not intend to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances.
Thousands except per share amounts and percentages
|Three months ended||Year ended|
|December 31,||December 31,|
|Software & services revenues||2,779||2,765||11,758||10,623|
Cost of portal revenues, exclusive of depreciation &
Cost of software & services revenues, exclusive of
|Selling & administrative||8,316||7,351||32,852||28,732|
Amortization of acquisition-related intangible assets
Depreciation & amortization
|Total operating expenses||44,825||35,432||167,951||142,391|
|Other expense, net||(15||)||(28||)||(16||)||(34||)|
|Income before income taxes||12,372||9,593||43,176||38,474|
|Income tax provision||3,749||4,069||16,837||15,531|
|Basic net income per share||$||0.13||$||0.08||$||0.40||$||0.35|
|Diluted net income per share||$||0.13||$||0.08||$||0.40||$||0.35|
|Weighted average shares outstanding:|
|Key Financial Metrics:|
|Revenue growth - outsourced portals||29||%||9||%||17||%||10||%|
|Same state revenue growth - outsourced portals||24||%||6||%||10||%||8||%|
|Recurring portal revenue as a % of total portal revenues||92||%||91||%||92||%||91||%|
|Gross profit % - outsourced portals||39||%||39||%||38||%||38||%|
|Revenue growth - software & services||1||%||33||%||11||%||67||%|
|Gross profit % - software & services||64||%||65||%||66||%||62||%|
|Selling & administrative expenses as a % of total revenues||15||%||16||%||16||%||16||%|
|Operating income as a % of total revenue||22||%||21||%||20||%||21||%|
|Portal Revenue Analysis:|
|Portal software development||4,378||3,699||16,660||15,515|
|Total portal revenues||$||54,433||$||42,288||$||199,385||$||170,276|
|December 31, 2012||December 31, 2011|
|Cash and cash equivalents||$||62,358||$||61,639|
|Cash restricted for payment of dividend||-||16,231|
|Trade accounts receivable, net||55,261||49,306|
|Deferred income taxes, net||887||916|
|Prepaid expenses & other current assets||9,340||5,994|
|Total current assets||127,846||134,086|
|Property and equipment, net||16,025||8,853|
|Intangible assets, net||1,016||1,088|
|Deferred income taxes, net||-||83|
LIABILITIES AND STOCKHOLDERS' EQUITY
|Other current liabilities||208||310|
|Total current liabilities||62,820||77,872|
|Deferred income taxes, net||2,050||-|
|Other long-term liabilities||1,346||1,405|
|Commitments and contingencies||-||-|
|Common stock, $0.0001 par, 200,000 shares authorized,|
|64,628 and 64,178 shares issued and outstanding||6||6|
|Additional paid-in capital||84,308||96,799|
|Total stockholders' equity||78,924||65,076|
|Total liabilities and stockholders' equity||$||145,140||$||144,353|
|CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY|
|Balance, January 1, 2012||64,178||$||6||$||96,799||$||(31,729||)||$||65,076|
|Dividend equivalents on performance-based restricted|
|Restricted stock vestings||540||-||204||-||204|
|Shares surrendered and cancelled upon vesting of|
|restricted stock to satisfy tax withholdings||(168||)||-||(2,113||)||-||(2,113||)|
|Tax deductions relating to stock-based compensation||-||-||1,351||-||1,351|
|Shares issuable in lieu of dividend payments on unvested|
|performance-based restricted stock awards||-||-||(107||)||-||(107||)|
|Issuance of common stock under employee stock purchase plan||78||-||806||-||806|
|Balance, December 31, 2012||64,628||$||6||$||84,308||$||(5,390||)||$||78,924|
CASH FLOW SUMMARY
|Three months ended||Year ended|
|December 31,||December 31,|
|Adjustments to reconcile net income to net cash provided by operating activities:|
|Amortization of acquisition-related intangible assets||-||81||214||323|
|Depreciation & amortization||2,069||1,214||6,305||4,575|
|Stock-based compensation expense||694||1,093||3,803||4,510|
|Deferred income taxes||(346||)||1,272||734||789|
|Loss on disposal of property and equipment||15||30||16||38|
|Changes in operating assets and liabilities:|
|(Increase) in trade accounts receivable, net||(882||)||(5,450||)||(5,955||)||(7,247||)|
|(Increase) decrease in prepaid expenses & other current assets||1,688||1,635||(1,919||)||1,308|
|(Increase) decrease in other assets||(2||)||3||(10||)||-|
|Increase (decrease) in accounts payable||(4,099||)||10,424||(1,374||)||3,439|
|Increase (decrease) in accrued expenses||(765||)||(2,254||)||397||(92||)|
|Increase (decrease) in other current liabilities||218||(125||)||102||(264||)|
|Increase (decrease) in other long-term liabilities||(149||)||10||(262||)||280|
|Net cash provided by operating activities||7,064||13,457||28,390||30,602|
|Purchases of property and equipment||(1,402||)||(2,247||)||(12,776||)||(6,137||)|
|Proceeds from sale of property and equipment||-||8||-||8|
|Capitalized internal use software development costs||(164||)||(132||)||(714||)||(451||)|
|Net cash used in investing activities||(1,566||)||(2,371||)||(13,490||)||(6,580||)|
|Cash dividends on common stock||(16,338||)||-||(16,338||)||-|
|Cash restricted for payment of dividend||-||(16,231||)||-||(16,231||)|
|Proceeds from employee common stock purchases||-||-||806||652|
|Tax deductions related to stock-based compensation||154||17||1,351||1,509|
|Net cash used in financing activities||(16,184||)||(16,214||)||(14,181||)||(14,070||)|
|Net increase (decrease) in cash and cash equivalents||(10,686||)||(5,128||)||719||9,952|
|Cash and cash equivalents, beginning of period||73,044||66,767||61,639||51,687|
|Cash and cash equivalents, end of period||$||62,358||$||61,639||$||62,358||$||61,639|
|Other cash flow information:|
|Non-cash investing activities:|
|Capital expenditures accrued but not yet paid||$||145||$||-||$||145||$||-|
|Income taxes paid||$||2,254||$||2,082||$||14,108||$||11,727|
|Cash dividends on common stock previously restricted for payment of dividend||$||-||$||-||$||16,231||$||-|
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
Dec. 22, 2014 11:00 AM EST Reads: 2,207
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.
Dec. 22, 2014 11:00 AM EST Reads: 3,024
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...
Dec. 21, 2014 02:00 PM EST Reads: 3,151
"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.
Dec. 21, 2014 01:00 PM EST Reads: 2,654
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...
Dec. 21, 2014 11:30 AM EST Reads: 3,184
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...
Dec. 21, 2014 10:00 AM EST Reads: 2,778
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...
Dec. 21, 2014 06:15 AM EST Reads: 3,328
“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.
Dec. 20, 2014 08:00 AM EST Reads: 2,339
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.
Dec. 18, 2014 09:45 PM EST Reads: 2,091
"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.
Dec. 18, 2014 09:00 AM EST Reads: 2,410
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...
Dec. 18, 2014 06:00 AM EST Reads: 1,433
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...
Dec. 17, 2014 11:15 PM EST Reads: 2,352
"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.
Dec. 17, 2014 11:00 PM EST Reads: 2,354
"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.
Dec. 17, 2014 08:00 PM EST Reads: 2,322
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...
Dec. 17, 2014 06:30 PM EST Reads: 2,316
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...
Dec. 17, 2014 11:45 AM EST Reads: 2,408
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...
Dec. 16, 2014 11:45 PM EST Reads: 2,310
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.
Dec. 15, 2014 11:45 PM EST Reads: 2,709
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.
Dec. 15, 2014 10:30 AM EST Reads: 8,263
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 ...
Dec. 15, 2014 10:00 AM EST Reads: 3,378