|By Business Wire||
|February 12, 2013 04:30 PM EST||
Greenway Medical Technologies, Inc. (NYSE: GWAY), which delivers innovative software and business services solutions for ambulatory care providers through its PrimeSUITE® platform, today announced financial results for the three months and six months ended December 31, 2012, as well as a revised outlook for results from operations for fiscal 2013.
“Our results for the second quarter of our fiscal year reflect continued strong growth of recurring revenue as providers adopt our cloud-based services, offset by a decline in revenue related to deployment,” said Tee Green, president and chief executive officer of Greenway®. “We added more than 750 providers to our network during the second quarter, and we are gaining appeal among larger healthcare system accounts — transactions that are more complex and take more time to complete. We believe that the update to our outlook for the remainder of fiscal 2013 reflects an appropriate adjustment to the impact of an increasing percentage of our revenue derived from recurring sources.”
Highlights for the fiscal 2013 second quarter, when compared with the prior-year period, include:
- Revenue growth of 12%, which includes recurring revenue growth of 32%;
- Gross profit growth of 16% results in gross margin expansion of 177 basis points;
- Cash flow from operations growth of 22% to $3.7 million.
For the three months ended December 31, 2012, Greenway generated revenue of $32.7 million, a 12% increase from $29.1 million for the comparable prior-year period. Revenue from recurring sources grew by 32%, and comprised 55% of total revenue for the fiscal 2013 second quarter. This compares with recurring revenue of 47% of total revenue for the prior-year period. The growth in recurring revenue as a percent of total revenue is a function of increased adoption of Greenway’s cloud-based services, including PrimeSUITE, PrimePATIENT® patient portal and PrimeEXCHANGE®, as well as the growth of PrimeRCM®, Greenway’s clinically driven revenue cycle management platform. Greenway’s revenue mix for the second quarter was impacted by a decline in Training and Consulting revenue related to fewer deployments than in the prior-year period. Through the first half of fiscal 2013, Greenway’s revenue has grown by 20%, to $65.5 million, compared with $54.8 million for the first half of fiscal 2012.
Greenway generated gross profit of $17.4 million for the three months ended December 31, 2012, an increase of 16% from $15.0 million for the prior-year period.
Gross profit margin for the fiscal 2013 second quarter improved by 177 basis points, to 53.2%, as a result of growth related to recurring subscription solutions and services, offset by a decline in gross margin for System Sales and Training and Consulting Services. Gross margin for recurring revenue sources grew to 57.8% for the three months ended December 31, 2012, from 49.9% for the prior-year period, as the customer adoption of innovative solutions increased and the Company improved margins on Customer Support Services and EDI and Business Services. Gross margin for System Sales and Training and Consulting Services declined as a result of fewer deployments in the quarter, compared to the prior-year period.
Greenway has earned gross profit of $35.3 million, and overall gross margin has improved to 53.8%, through the six months ended December 31, 2012. This compared with gross profit of $28.3 million, and gross margin of 51.6%, for the first half of the prior fiscal year.
Greenway reported a loss from operations of ($1.8 million) for the fiscal 2013 second quarter, which compares with an operating loss of ($350,000) for the prior-year period. Through six months ended December 31, 2012, Greenway has reported an operating loss of ($2.0 million), which compares with an operating loss of ($900,000) for the prior-year period.
The Company had a net loss of ($985,000), or (three cents) per share, based on a weighted average 30.9 million shares outstanding, for the three months ended December 31, 2012. This compares with a net loss of ($268,000) for the prior-year period. The Company’s results for the three months ended December 31, 2011, reflected income available to common shareholders of $37.8 million, or $1.70 per share based on a weighted average 22 million shares outstanding. This included dividends and accretion related to preferred stock that was converted to common stock in February 2012.
As of December 31, 2012, Greenway had $27.4 million in cash and short-term investments and no outstanding indebtedness.
Greenway generated cash flow from operations of $3.7 million for the fiscal 2013 second quarter, up from $3.0 million for the comparable prior-year period. Through the first six months of fiscal 2013, Greenway generated cash flow from operations of $6.0 million, up from $3.8 million for the comparable period of fiscal 2012.
Greenway’s non-GAAP adjusted EBITDA, which is defined as earnings before interest, taxes, depreciation and amortization, acquisition-related transaction costs and stock-based compensation, was $1.3 million for the three months ended December 31, 2012, unchanged from the prior-year period, and for both periods non-GAAP EBITDA margin was 4%. Through six months ended December 31, 2012, Greenway’s adjusted EBITDA was $3.9 million, or 6% of revenue, a 75% increase from $2.2 million, or 4% of revenue, for the first half of the prior fiscal year.
Adjusted, or non-GAAP net income (loss), which is defined as net income before stock-based compensation, acquisition-related transaction costs and amortization of purchased intangibles and any estimated tax impact related to these items, was $(41,000), or (zero) cents per diluted share, for the three months ended December 31, 2012. This compares with non-GAAP net income of $231,000, or one cent per diluted share for the second quarter of fiscal 2012. For the six months ended December 31, 2012, Greenway’s non-GAAP net income was $843,000, or two cents per share, which compares with adjusted net income of $512,000 for the first half of the prior fiscal year, or two cents per share.
The GAAP financial measures most directly comparable to each non-GAAP financial measure used, and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure, are included in this press release following the condensed financial statements.
Fiscal 2013 Outlook Update
Greenway Medical Technologies is updating its previously issued outlook for Fiscal 2013, based on actual results for the first half of the fiscal year. Greenway believes that its revenue will grow by 17% to 21% for the 12 months ended June 30, 2013, from fiscal 2012 actual results, while achieving gross margin and adjusted EBITDA margin improvement. The following table summarizes the Company’s revised outlook for fiscal 2013 as of February 12, 2012:
($ in millions except
per share data)
|Revenue||$145.0 to $150.0|
|Gross Profit||$79.0 to $84.0|
|Margin||54.5% to 56.0%|
|Operating Income||$5.5 to $8.3|
|Effective Tax Rate||40%|
|Net income||$3.1 to $5.2|
|GAAP EPS||$0.10 to $0.17|
|Adjusted EBITDA||$18.0 to $21.0|
|Margin||12.4% to 14.0%|
|Adjusted EPS||$0.21 to $0.28|
Greenway will host a conference call today, Tuesday, February 12, 2013, at 5 p.m. Eastern time to discuss the Company's earnings and other information. The call can be accessed by dialing (888) 679-8034 or (617) 213-4847 for international calls. The participant code is 98566108. For listen-only mode, participants should go to the Investors section of www.greenwaymedical.com prior to the call to register and download the necessary audio software.
An audio replay will be posted following the call and will be available from approximately 7 p.m. Eastern time on Feb. 12 through 11:59 p.m. Eastern time on Feb. 19. The replay will be accessible through a link on www.greenwaymedical.com/investors or by calling (888) 286-8010 or internationally (617) 801-6888. Replay code is 69503212.
About Greenway and PrimeSUITE
Greenway Medical Technologies, Inc. (NYSE: GWAY) delivers smarter solutions for smarter healthcare™. PrimeSUITE® — Greenway’s certified and fully integrated electronic health record, practice management and interoperability solution — helps improve care coordination, quality and cost-efficiency as part of a smarter, sustainable healthcare system. Thousands of ambulatory care providers across more than 30 specialties and sub-specialties use cloud-based, remote-hosted or on-premise Greenway® solutions in healthcare enterprises, physician practices and clinics nationwide. For details, see greenwaymedical.com, Twitter, Facebook or YouTube.
In addition to historical information, this press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the Company’s financial condition, growth strategy, business development efforts, service offerings, and service delivery models. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could affect the Company’s future performance include, but are not limited to, our ability to adapt to evolving technology and industry standards; our ability to implement our growth strategy; our ability to retain management and other qualified personnel; failure to prevent disruptions in service or damage to our third-party providers’ data centers; failure to avoid liability for the use of content we provide; regulation of the healthcare information technology industry; our ability to ensure our solutions meet industry and government standards; failure to maintain adequate security measures for our customers’ confidential information and personal identifiable information and their patients’ protected health information; our ability to obtain new provider clients; failure of the HITECH Act and other incentive programs to be fully implemented or funded by the government; our ability to implement our strategic relationships as currently intended; failure to establish, protect or enforce our intellectual property; restrictions in our credit facility and future indebtedness. Further information concerning these and other factors is included in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2012. The Company disclaims any obligation or duty to update or modify these forward-looking statements.
Greenway, the Greenway logo, PrimeSUITE, PrimePATIENT, PrimeEXCHANGE and PrimeRCM are registered trademarks and the phrase “smarter solutions for smarter healthcare” is a trademark of Greenway Medical Technologies, Inc. Other product and company names are the property of their respective owners.
|Greenway Medical Technologies, Inc.|
|Condensed Balance Sheets – Unaudited|
|December 31,||June 30,|
|Cash and cash equivalents||$||8,217||$||5,585|
|Accounts receivable, net of a $763 and $720 allowance for doubtful accounts at December 31, 2012 and June 30, 2012, respectively||22,634||28,875|
|Prepaids and other current assets||2,387||3,001|
|Deferred tax assets||1,679||1,699|
|Total current assets||54,361||68,791|
|Property and equipment, net||29,334||20,340|
|Software development cost, net||21,543||17,156|
|Acquired intangibles, net||2,092||510|
|Deferred tax assets - noncurrent||26,697||25,846|
|Liabilities and shareholders’ equity|
|Total current liabilities||33,322||34,161|
|Obligation for purchased technology||-||116|
|Additional paid-in capital||242,299||237,558|
|Total shareholders’ equity||102,610||98,846|
|Total liabilities and shareholders’ equity||$||135,932||$||133,123|
|Greenway Medical Technologies, Inc.|
|Condensed Statements of Operations – Unaudited|
|(In Thousands except Per Share Data)|
|Three Months Ended December 31,||Six Months Ended December 31,|
|Training and consulting services||4,107||6,301||10,970||12,904|
|Electronic data interchange and business services||6,917||5,906||13,501||11,248|
|Cost of revenue (Note 1):|
|Training and consulting services||3,312||4,560||7,914||8,992|
|Electronic data interchange and business services||4,399||4,153||8,593||7,975|
|Total cost of revenue||15,315||14,146||30,243||26,504|
|Operating expenses (Note 1):|
|Sales, general and administrative||14,749||11,482||28,073||22,160|
|Research and development||4,440||3,844||9,212||7,008|
|Total operating expenses||19,189||15,326||37,285||29,168|
|( 1,783||)||(350||)||( 2,033||)||(899||)|
|Interest income (expense), net||( 16||)||-||273||(8||)|
|Other expense, net||( 17||)||(48||)||( 41||)||(87||)|
|Loss before benefit for income taxes||( 1,816||)||(398||)||( 1,801||)||(994||)|
|Benefit for income taxes||( 831||)||(130||)||( 824||)||(320||)|
|Net loss||( 985||)||(268||)||( 977||)||(674||)|
|Preferred stock dividends and accretion||-||37,772||-||28,395|
|Income (loss) available to common shareholders||$||( 985||)||$||37,504||$||( 977||)||$||27,721|
|Per share data:|
|Net income (loss) per share available to common shareholders:|
|Weighted average number of common shares outstanding:|
|Note 1 - Includes stock-based compensation in the following amounts:|
|Cost of revenue:|
|System sales||$||8||$||( 2||)||$||16||$||6|
|Training and consulting services||48||119||95||211|
|Software support services||27||3||53||82|
|Electronic data interchange and business services||5||43||10||43|
|Total cost of revenue||88||163||174||342|
|Sales, general and administrative||791||343||1,634||557|
|Research and development||169||( 76||)||339||588|
|Total operating expenses||960||267||1,973||1,145|
|Total stock-compensation expense||$||1,048||$||430||$||2,147||$||1,487|
|Greenway Medical Technologies, Inc.|
|Condensed Statements of Cash Flows – Unaudited|
|(Amounts in Thousands)|
|Six Months Ended December 31,|
|Cash flows from operating activities:|
|Adjustments to reconcile net income (loss) to net cash provided by operating activities:|
|Net stock compensation expense||2,147||1,487|
|Deferred income tax benefit||( 831||)||( 377||)|
|Depreciation and amortization||3,692||1,609|
|Provision for bad debts||951||570|
|Changes in current assets and liabilities:|
|Inventory||( 2||)||( 273||)|
|Prepaids and other current assets||187||( 945||)|
|Accounts payable and accrued liabilities||( 2,428||)||497|
|Deferred revenue||( 2,071||)||480|
|Net cash provided by operating activities||6,027||3,806|
|Cash flows from investing activities:|
|Sales of short-term investments - net||10,189||5,689|
|Purchases of property and equipment||( 5,837||)||( 2,953||)|
|Acquisition of business and developed technology||( 2,875||)||( 3,000||)|
|Capitalized software development cost||( 6,420||)||( 5,838||)|
|Net cash used in investing activities||(4,943||)||(6,102||)|
|Cash flows from financing activities:|
|Payments on obligation for acquired technology||(46||)||( 77||)|
|Proceeds from exercise of stock options and warrants, net of issuance costs||2,594||199|
|Contingent consideration paid for prior acquisition||(1,000||)||-|
|Net cash provided by financing activities||1,548||122|
|Net decrease in cash and cash equivalents||2,632||(2,174||)|
|Cash and cash equivalents at beginning of period||5,585||5,722|
|Cash and cash equivalents at end of period||$||8,217||$||3,548|
|Supplemental cash flow information:|
|Cash paid for interest||$||35||$||3|
|Cash paid for taxes||$||122||$||58|
|Non-cash investing and financing activities:|
|Future obligation for acquisition of business and developed technology||$||3,875||$||-|
|Common stock and obligations for future payments at fair value, given in exchange for acquisition of technology||$||-||$||954|
Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Measures
(Unaudited, in thousands, except share amounts)
The following is a reconciliation of the non-GAAP financial measures used by the Company in describing its financial performance in accordance with U.S. “generally accepted accounting principles” (GAAP). An explanation of these measures is also included below under the heading “Explanation of Non-GAAP Financial Measures”. While management believes these non-GAAP financial measures provide useful supplemental information to investors regarding the Company’s operations, investors are reminded to consider these non-GAAP measures in addition to, and not a substitute for, financial performance measures in accordance with GAAP. In addition, it should be noted that these non-GAAP financial measures may be different from non-GAAP measures used by other companies, and management may utilize other measures to illustrate performance in the future. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company’s results of the operations as determined in accordance with GAAP.
Non-GAAP Adjusted EBITDA
(Unaudited, in thousands)
Set forth below is a presentation of the Company’s “non-GAAP Adjusted EBITDA” and the “non-GAAP Adjusted EBITDA Margin” which is non-GAAP Adjusted EBITDA as a percentage of total revenue:
|Three Months Ended December 31,||Six Months Ended December 31,|
|Reconciliation of net income (loss) to Non-GAAP Adjusted EBITDA:|
|Net income (loss)||
|Acquisition-related transaction costs||131||123||131||123|
|Depreciation and amortization||1,908||1,149||3,692||1,609|
|Interest (income) expense, net||16||( 1||)||( 273||)||8|
|Provision (benefit) for income taxes||( 831||)||( 130||)||( 824||)||( 320||)|
|Non-GAAP adjusted EBITDA||
Non-GAAP Adjusted Net (Loss) Income
(Unaudited, in thousands except per share amounts)
Set forth below is a reconciliation of the Company’s “Non-GAAP Adjusted Net (Loss) Income” and “Non-GAAP Adjusted Net (Loss) Income per Diluted Share”:
|Three Months Ended December 31,||Six Months Ended December 31,|
|Non-GAAP adjusted net (loss) income|
|GAAP net loss||
|Add: Stock-based compensation||1,048||430||2,147||1,487|
|Add: Acquisition-related transaction costs||131||123||131||123|
|Add: Amortization of purchased intangibles||394||281||755||369|
|Subtotal of tax deductible items||1,573||834||3,033||1,979|
|Less: tax impact of tax deductible items (40% rate)||( 629||)||(334||)||( 1,213||)||(792||)|
|Non-GAAP adjusted net (loss) income||
|Weighted average number of shares - diluted||30,905||22,044||30,670||21,984|
|Non-GAAP adjusted net (loss) income per diluted share||$||(0.00||)||$||0.01||$||0.03||$||0.02|
|Three Months Ended December 31,||Six Months Ended December 31,|
|Net loss per share||$||(0.03||)||$||(0.01||)||
|Add: Stock-based compensation||
|Add: Acquisition-related transaction costs||
|Add: Amortization of purchased intangibles||
|Subtotal of tax deductible items||$||0.05||$||0.03||$||0.09||$||0.08|
|Less: tax impact of tax deductible items (40% rate)||$||(0.02||)||$||(0.01||)||$||(0.04||)||$||(0.03||)|
|Non-GAAP adjusted net (loss) income per share - diluted||$||(0.00||)||$||0.01||$||0.02||$||0.02|
Explanation of Non-GAAP Measures
The Company reports its financial results in accordance with U.S. GAAP. The Company’s management believes that investors may wish to consider the impact of certain non-cash or non-recurring items as a supplement to financial performance measures in accordance with GAAP. These items result from facts and circumstances that may vary in frequency and impact on continuing operations. Management also presents results of operations before such items to evaluate operating performance, compare performance against past periods and as a basis for strategic planning. These non-GAAP financial measures provide management with additional means to understand and evaluate operating results and trends by eliminating certain non-cash expenses and other items that management believes might complicate comparisons with prior periods, obscure current trends or reduce the ability to make useful forecasts. Management believes that these non-GAAP measures provide additional means of evaluating performance, period-over-period. In addition, management understands that some investors and financial analysts find this information useful in analyzing the Company’s financial and operational performance and comparing such performance to peers and competitors.
Non-GAAP Adjusted EBITDA is defined as earnings before interest, income taxes, depreciation and amortization, acquisition-related transaction costs and stock-based compensation. It is presented as a supplemental measure of the Company’s performance. However, Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of the Company’s results as reported under GAAP.
Non-GAAP Adjusted Net Income is defined as net income before stock-based compensation, acquisition-related transaction costs and amortization of purchased intangibles and any tax impact related to these items.
Non-GAAP Adjusted Net Income Per Diluted Share is defined as Non-GAAP Adjusted Net Income divided by the weighted average diluted shares outstanding. Management considers all of these non-GAAP financial measures to be useful indicators of the Company’s performance and a measure of historical trends.
The following items are excluded from non-GAAP Adjusted Net Income and related Per Diluted Share financial measures referenced above, and the reasons therefore are:
- Stock-based compensation — Excluded because these are non-cash expenses that management does not consider useful in assessing ongoing operating results or performance of the business, and also because the amount of the expense is not totally within the Company’s control since it is based on factors such as stock price, volatility and interest rates which may be unrelated to the Company’s performance during the period the expense is incurred.
- Amortization of purchased intangibles — Purchased intangibles are amortized over their estimated useful life and generally cannot be influenced after the acquisition. Accordingly, this item is not considered by management in making operating decisions. Thus, including such charges does not accurately reflect the performance for the period in which such charge is incurred.
- Acquisition-related transaction costs — Transaction costs associated with acquisitions are non-recurring and related specifically to a subject acquisition. Accordingly, management does not believe that they reflect the underlying performance of ongoing business operations for the period incurred.
We heard for many years how developing nations would be able to develop mobile-phone networks quickly, perhaps even leapfrog developed nations, because their lack of traditional, wired networks would not inhibit them from deploying the new technology. Now there is talk of history repeating itself with the Industrial Internet--a key aspect of the emerging Internet of Things. For example, Guo Ping, Deputy Chairman of the Board of Chinese electronics giant Huawei, said in a recent report from the World Economic Forum, "The Industrial Internet will afford emerging markets a unique opportunity ...
May. 5, 2015 11:00 PM EDT Reads: 728
Avnet, Inc. has announced that it ranked No. 4 on the InformationWeek Elite 100 – a list of the top business technology innovators in the U.S. Avnet was recognized for the development of an innovative cloud-based training system that serves as the foundation for Avnet Academy – the company’s education and training organization focused on technical training around top IT vendor technologies. The development of this system allowed Avnet to quickly expand its IT-related training capabilities around the world, while creating a new service that Avnet and its IT solution providers can offer to their...
May. 5, 2015 04:15 PM EDT Reads: 939
Ayla Networks, whose agile Internet of Things (IoT) platform makes it easy for manufacturers to deliver secure, connected products, today announced it has been included in the list of "Cool Vendors" in the Internet of Things report by Gartner, Inc. “Gartner knows how important it is that manufacturers of all kinds of products have the right IoT solution to help turn their products into connected ‘things,’” said David Friedman, CEO and co-founder of Ayla Networks. “The market for Ayla’s IoT platform has accelerated dramatically this year compared to last year. Today’s largest manufacturers ar...
May. 5, 2015 02:00 PM EDT Reads: 508
SYS-CON Events announced today that B2Cloud, a provider of enterprise resource planning software, 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. B2cloud develops the software you need. They have the ideal tools to help you work with your clients. B2Cloud’s main solutions include AGIS – ERP, CLOHC, AGIS – Invoice, and IZUM
May. 5, 2015 12:00 PM EDT Reads: 4,490
The Internet of Things Maturity Model (IoTMM) is a qualitative method to gauge the growth and increasing impact of IoT capabilities in an IT environment from both a business and technology perspective. In his session at @ThingsExpo, Tony Shan will first scan the IoT landscape and investigate the major challenges and barriers. The key areas of consideration are identified to get started with IoT journey. He will then pinpoint the need of a tool for effective IoT adoption and implementation, which leads to IoTMM in which five maturity levels are defined: Advanced, Dynamic, Optimized, Primitive,...
May. 5, 2015 11:45 AM EDT Reads: 1,166
SYS-CON Events announced today that MangoApps 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., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and easy to use. MangoApps has been named a "Market Leader" by Ovum Research and a "Cool Vendor" by Gartner...
May. 5, 2015 11:00 AM EDT Reads: 4,406
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on Twitter at @MicroservicesE
May. 5, 2015 11:00 AM EDT Reads: 2,946
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
May. 5, 2015 11:00 AM EDT Reads: 3,934
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immediate and actionable interpretation of events as they happen. Another aspect concerns how to deliver ...
May. 5, 2015 11:00 AM EDT Reads: 5,809
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
May. 5, 2015 10:45 AM EDT Reads: 4,418
So I guess we’ve officially entered a new era of lean and mean. I say this with the announcement of Ubuntu Snappy Core, “designed for lightweight cloud container hosts running Docker and for smart devices,” according to Canonical. “Snappy Ubuntu Core is the smallest Ubuntu available, designed for security and efficiency in devices or on the cloud.” This first version of Snappy Ubuntu Core features secure app containment and Docker 1.6 (1.5 in main release), is available on public clouds, and for ARM and x86 devices on several IoT boards. It’s a Trend! This announcement comes just as...
May. 5, 2015 10:45 AM EDT Reads: 2,255
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
May. 5, 2015 10:30 AM EDT Reads: 5,438
The WebRTC Summit 2015 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
May. 5, 2015 10:15 AM EDT Reads: 3,184
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
May. 5, 2015 10:00 AM EDT Reads: 3,957
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...
May. 5, 2015 10:00 AM EDT Reads: 5,597
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
May. 5, 2015 09:45 AM EDT Reads: 3,463
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
May. 5, 2015 09:45 AM EDT Reads: 5,968
In his session at WebRTC Summit, Peter Dunkley, Technical Director at Acision, will look at creating interactive communications via the web by adding messaging, file transfer, and group communication (group chat and audio/video conferencing) into the web experience. He will also discuss potential applications of this technology in areas including B2B, B2C, P2P, and gaming. Peter Dunkley is Technical Director at Acision. He graduated from The University of Edinburgh in 2000 with a BSc (Hons) in Computer Science. After graduation Peter worked on a PSTN switch developing signalling stacks for SS...
May. 5, 2015 09:39 AM EDT Reads: 538
It's time to put the "Thing" back in IoT. Whether it’s drones, robots, self-driving cars, ... There are multiple incredible examples of the power of IoT nowadays that are shadowed by announcements of yet another twist on statistics, databases, .... Sorry, I meant, Big Data(TM), tiered storage(TM), complex systems(TM), smart nations(TM), .... In his session at WebRTC Summit, Dr Alex Gouaillard, CTO and Co-Founder of Temasys, will discuss the concrete, cool, examples of IoT already happening today, and how mixing all those different sources of visual and audio input can make your life happier ...
May. 5, 2015 09:15 AM EDT Reads: 660
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to offer disruptive APIs to developers.
May. 5, 2015 09:15 AM EDT Reads: 2,247