Welcome!

Microsoft Cloud Authors: Elizabeth White, Mihai Corbuleac, Pat Romanski, David Bermingham, Steven Mandel

News Feed Item

Russel Metals Announces 2012 Annual and Fourth Quarter Results

TORONTO, ONTARIO -- (Marketwire) -- 02/12/13 -- Russel Metals Inc. (TSX:RUS) today announced fourth quarter 2012 earnings of $20 million, or $0.34 per share on revenues of $766 million. These results compare with our 2011 fourth quarter earnings per share of $0.47 on revenues of $712 million.

Our fourth quarter earnings include the operating income of Apex Distribution which contributed $6 million in operating income from the date of its acquisition on November 8, 2012. This positive contribution to our energy products segment earnings was muted by the inventory write-downs of $4 million taken in the period by certain of our other energy operations due to price declines in pipe products. The operating earnings for the segment improved to $18 million in the quarter from $17 million in the fourth quarter of 2011.

Operating profits in the fourth quarter of 2012 for our metals service centers were $17 million down from $21 million in the fourth quarter of 2011. Results were impacted by an industry-wide drop in volumes in November and December beyond expected seasonality. Gross margins improved slightly in the 2012 fourth quarter as a result of steel mills attempting to raise prices. In September 2012, the unionized employees at our Boucherville, Quebec operation took strike action and this work stoppage was resolved on February 7, 2013. The strike has reduced our operating income by approximately $2 million in the quarter.

Our steel distributor segment fourth quarter operating profits decreased to $7 million from $11 million in the fourth quarter of 2011 due to soft demand and tightening margins. Gross margins improved slightly to 13.2% from 13.0% in the 2012 third quarter consistent with our metals service center operations.

Net earnings for the fourth quarter were also negatively impacted by $2 million due to non-cash charges, including the amortization of intangibles, and transaction costs related to the Apex Distribution acquisition.

For the year, our earnings were $99 million or $1.64 per share on revenues of $3.0 billion versus 2011 earnings of $118 million or $1.97 per share on revenues of $2.7 billion.

Brian R. Hedges, President and CEO, said: "2012 was an exciting year as we made three acquisitions, highlighted by the purchase of Apex Distribution. Through these acquisitions we believe that we have strengthened the Company's ability to generate earnings over the cycle and we are well positioned to reap the benefits in 2013 and beyond. During the fourth quarter we experienced a weakness in demand in all segments; however, our metals service centers outperformed the industry shipment volumes reported by the Metals Service Center Institute. The stabilization of gross margins in the fourth quarter and the recent upward price movement by the mills should lead to higher margins in 2013. We look forward to the expected materialization of a full year's benefits relating to the acquisitions we made in 2012."

The Board of Directors approved a quarterly dividend of $0.35 per common share payable March 15, 2013 to shareholders of record as of February 28, 2013.

The Company will be holding an Investor Conference Call on Wednesday February 13, 2013 at 10:00 a.m. ET to review its fourth quarter and annual results for 2012. The dial-in telephone numbers for the call are 416-340-2216 (Toronto and International callers) and 1-866-226-1792 (U.S. and Canada). Please dial in 10 minutes prior to the call to ensure that you get a line.

A replay of the call will be available at 905-694-9451 (Toronto and International callers) and 1-800-408-3053 (U.S. and Canada) until midnight, Wednesday February 27, 2013. You will be required to enter pass code 7908038 in order to access the call.

Additional supplemental financial information is available in our investor conference call package located on our website at www.russelmetals.com.

Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three metals distribution segments: metals service centers, energy products and steel distributors, under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Acier Richler, Alberta Industrial Metals, Apex Distribution, Apex Remington, Arrow Steel Processors, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Megantic Metal, Metaux Russel, Metaux Russel Produits Specialises, Milspec, Norton Metals, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Siemens Laserworks, Spartan Energy Tubulars, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.

Statements contained in this press release or on the related conference call that relate to Russel Metals' beliefs or expectations as to certain future events are not statements of historical fact and are forward-looking statements. Russel Metals cautions readers that there are important factors, risks and uncertainties, including but not limited to economic, competitive and governmental factors affecting Russel Metals' operations, markets, products, services and prices that could cause its actual results, performance or achievements to be materially different from those forecasted or anticipated in such forward-looking statements.

The forward-looking statements in this document reflect management's current beliefs and are based on information currently available to management. The material assumptions applied in making the forward-looking statements in this document include the following: demand from the manufacturing, resource and construction segments of the Canadian economy are stable and these conditions will continue in the foreseeable future; and oil and gas prices, the price of steel and the value of the Canadian dollar relative to the U.S. dollar will be at similar levels with what we experienced at the end of 2012. Although the forward-looking statements contained in this document are based upon what management believes to be reasonable estimates and assumptions, Russel Metals cannot ensure that actual results will not be materially different from those expressed or implied by these forward-looking statements and does not intend to update any forward-looking statement other than required by law.


CONSOLIDATED STATEMENTS OF EARNINGS                                         
                                                                            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                         Quarters ended         Years ended 
                                            December 31         December 31 
(in millions of Canadian dollars,        2012      2011      2012      2011 
 except per share data)                                                     
----------------------------------------------------------------------------
Revenues                            $   765.9 $   711.6 $ 3,000.1 $ 2,693.3 
Cost of materials                       640.1     585.8   2,476.8   2,168.0 
Employee expenses                        55.6      49.7     215.3     202.3 
Other operating expenses                 33.8      29.8     131.8     125.5 
----------------------------------------------------------------------------
                                                                            
Earnings before interest, finance                                           
 and income taxes                        36.4      46.3     176.2     197.5 
Interest expense                          9.1       6.8      34.2      27.5 
Interest income                          (0.2)     (0.5)     (1.7)     (2.0)
Other finance expense                     0.8       0.9       5.6       2.6 
----------------------------------------------------------------------------
                                                                            
Earnings before income taxes             26.7      39.1     138.1     169.4 
Provision for income taxes                6.3      10.6      39.3      51.1 
----------------------------------------------------------------------------
                                                                            
Net earnings for the period         $    20.4 $    28.5 $    98.8 $   118.3 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Basic earnings per common share     $    0.34 $    0.47 $    1.64 $    1.97 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Diluted earnings per common share   $    0.34 $    0.46 $    1.64 $    1.92 
----------------------------------------------------------------------------
----------------------------------------------------------------------------


CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME                             
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                         Quarters ended         Years ended 
                                            December 31         December 31 
(in millions of Canadian dollars)        2012      2011      2012      2011 
----------------------------------------------------------------------------
Net earnings for the period         $    20.4 $    28.5 $    98.8 $   118.3 
----------------------------------------------------------------------------
                                                                            
Other comprehensive income (loss)                                           
 net of tax                                                                 
Unrealized foreign exchange (losses)                                        
 gains on translation of foreign                                            
 operations                               4.1      (7.8)     (8.5)      9.1 
Unrealized (losses) gains on items                                          
 designated as net investment hedges        -       2.6      (0.9)     (2.5)
Losses on derivatives designated as                                         
 cash flow hedges transferred to net                                        
 earnings during the year                   -       0.3       2.3       1.1 
Actuarial (losses) gains on pension                                         
 and similar obligations                  3.1     (13.8)     (6.0)    (13.8)
----------------------------------------------------------------------------
                                                                            
Other comprehensive income (loss)         7.2     (18.7)    (13.1)     (6.1)
----------------------------------------------------------------------------
                                                                            
Total comprehensive income          $    27.6 $     9.8 $    85.7 $   112.2 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION                               
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                December 31     December 31 
(in millions of Canadian dollars)                      2012            2011 
----------------------------------------------------------------------------
                                                                            
ASSETS                                                                      
Current                                                                     
  Cash and cash equivalents                 $         115.1 $         270.7 
  Accounts receivable                                 456.2           382.4 
  Inventories                                         764.0           645.6 
  Prepaid expenses                                      7.1             4.6 
  Income taxes receivable                               7.7             0.5 
----------------------------------------------------------------------------
                                                                            
                                                    1,350.1         1,303.8 
                                                                            
Property, Plant and Equipment                         241.8           201.3 
Deferred Income Tax Assets                              4.6             5.3 
Other Assets                                            6.5             3.3 
Goodwill and Intangibles                              192.1            24.7 
----------------------------------------------------------------------------
                                                                            
                                            $       1,795.1 $       1,538.4 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
LIABILITIES AND SHAREHOLDERS' EQUITY                                        
Current                                                                     
  Bank indebtedness                         $          14.3 $             - 
  Accounts payable and accrued liabilities            396.5           362.8 
  Income taxes payable                                    -            17.4 
  Current portion long-term debt                        2.2             1.3 
----------------------------------------------------------------------------
                                                                            
                                                      413.0           381.5 
                                                                            
Long-Term Debt                                        453.6           296.5 
Pensions and Benefits                                  38.7            33.3 
Deferred Income Tax Liabilities                        20.5             0.4 
Provisions and Other Non-Current Liabilities           39.9             7.3 
----------------------------------------------------------------------------
                                                                            
                                                      965.7           719.0 
----------------------------------------------------------------------------
                                                                            
Shareholders' Equity                                                        
  Common shares                                       487.9           485.4 
  Retained earnings                                   324.3           306.7 
  Contributed surplus                                  17.3            15.7 
  Accumulated other comprehensive loss                (30.2)          (17.1)
  Equity component of convertible debenture            28.7            28.7 
----------------------------------------------------------------------------
                                                                            
Total Shareholders' Equity Attributable to                                  
 Equity Holders                                       828.0           819.4 
  Non-controlling interest                              1.4               - 
----------------------------------------------------------------------------
                                                                            
Total Shareholders' Equity                            829.4           819.4 
----------------------------------------------------------------------------
                                                                            
Total Liabilities and Shareholders' Equity  $       1,795.1 $       1,538.4 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
CONSOLIDATED STATEMENTS OF CASHFLOW                                         
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                           Quarters ended       Years ended 
                                              December 31       December 31 
(in millions of Canadian dollars)           2012     2011     2012     2011 
----------------------------------------------------------------------------
                                                                            
Operating activities                                                        
  Net earnings for the period           $   20.4 $   28.5 $   98.8 $  118.3 
  Depreciation and amortization              7.4      5.8     25.5     23.5 
  Deferred income taxes                      0.3     (0.3)     1.3     (0.2)
  (Gain) loss on sale of property, plant                                    
   and equipment                            (1.2)     0.1     (1.2)     0.1 
Stock-based compensation                     0.6      0.5      2.1      2.1 
Difference between pension expense and                                      
 amount funded                              (1.4)    (1.3)    (3.1)    (2.6)
Debt accretion, amortization and other       1.7      1.5      9.7      6.4 
----------------------------------------------------------------------------
                                                                            
Cash from operating activities before                                       
 non-cash working capital                   27.8     34.8    133.1    147.6 
----------------------------------------------------------------------------
                                                                            
Changes in non-cash working capital                                         
 items                                                                      
  Accounts receivable                       46.8     11.7     25.4    (78.6)
  Inventories                               48.4      2.0    (28.5)   (97.5)
  Accounts payable and accrued                                              
   liabilities                             (17.4)    23.5    (34.3)    79.0 
  Income taxes receivable/ payable           0.1      3.4    (19.6)     7.2 
  Other                                     (0.6)    (0.6)    (0.1)    (1.5)
----------------------------------------------------------------------------
                                                                            
Change in non-cash working capital          77.3     40.0    (57.1)   (91.4)
----------------------------------------------------------------------------
                                                                            
Cash from operating activities             105.1     74.8     76.0     56.2 
----------------------------------------------------------------------------
                                                                            
Financing activities                                                        
  Increase in bank borrowings               14.6        -     14.6        - 
  Issue of common shares                     0.6      0.1      2.0      1.4 
  Dividends on common shares               (21.1)   (18.1)   (81.2)   (69.1)
  Issuance of long-term debt                   -        -    300.0        - 
  Repayment of long-term debt               (0.3)    (3.4)  (142.4)   (29.3)
  Deferred financing                           -     (0.1)    (7.0)    (0.6)
----------------------------------------------------------------------------
                                                                            
Cash from (used in) financing activities    (6.2)   (21.5)    86.0    (97.6)
----------------------------------------------------------------------------
                                                                            
Investing activities                                                        
  Purchase of property, plant and                                           
   equipment                                (7.3)    (5.2)   (33.7)   (18.1)
  Proceeds on sale of property, plant                                       
   and equipment                             1.8      0.1      1.8      0.8 
  Purchase of business                    (226.4)       -   (281.3)       - 
----------------------------------------------------------------------------
                                                                            
Cash used in investing activities         (231.9)    (5.1)  (313.2)   (17.3)
----------------------------------------------------------------------------
                                                                            
Effect of exchange rates on cash and                                        
 cash equivalents                            1.0     (1.4)    (4.4)     5.7 
----------------------------------------------------------------------------
                                                                            
Increase (Decrease) in cash and cash                                        
 equivalents                              (132.0)    46.8   (155.6)   (53.0)
Cash and cash equivalents, beginning of                                     
 the period                                247.1    223.9    270.7    323.7 
----------------------------------------------------------------------------
                                                                            
Cash and cash equivalents, end of the                                       
 year                                   $  115.1 $  270.7 $  115.1 $  270.7 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
Supplemental cash flow information:                                         
Income taxes paid                       $    5.6 $    7.9 $   60.0 $   45.8 
Interest paid (net)                     $   16.1 $    0.5 $   31.2 $   25.5 
                                                                            
                                                                            
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY                                
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
(in millions of Canadian   Common   Retained    Contributed     Accumulated 
 dollars)                  Shares   Earnings        Surplus           Other 
                                                              Comprehensive 
                                                                       Loss 
----------------------------------------------------------------------------
                                                                            
Balance, January 1, 2012 $  485.4 $    306.7  $        15.7 $         (17.1)
Acquired during the year        -          -              -               - 
Payment of dividends            -      (81.2)             -               - 
Net earnings for the                                                        
 year                           -       98.8              -               - 
Other comprehensive loss                                                    
 for the year                   -          -              -           (13.1)
Recognition of stock-                                                       
 based compensation             -          -            1.6               - 
Stock options exercised       2.5          -              -               - 
----------------------------------------------------------------------------
                                                                            
Balance, December 31,                                                       
 2012                    $  487.9 $    324.3  $        17.3 $         (30.2)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
Balance, January 1, 2011 $  483.7 $    257.5  $        13.9 $         (11.0)
Payment of dividends            -      (69.1)             -               - 
Net earnings for the                                                        
 year                           -      118.3              -               - 
Other comprehensive loss                                                    
 for the year                   -          -              -            (6.1)
Recognition of stock-                                                       
 based compensation             -          -            1.8               - 
Stock options exercised       1.7          -              -               - 
----------------------------------------------------------------------------
                                                                            
Balance, December 31,                                                       
 2011                    $  485.4 $    306.7  $        15.7 $         (17.1)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY                      
------------------------------------------------------------------
------------------------------------------------------------------
                                                                  
(in millions of Canadian         Equity Non Controlling     Total 
 dollars)                  Component of        Interest           
                            Convertible                           
                             Debentures                           
------------------------------------------------------------------
                                                                  
Balance, January 1, 2012$          28.7 $             - $   819.4 
Acquired during the year              -             1.4       1.4 
Payment of dividends                  -               -     (81.2)
Net earnings for the                                              
 year                                 -               -      98.8 
Other comprehensive loss                                          
 for the year                         -               -     (13.1)
Recognition of stock-                                             
 based compensation                   -               -       1.6 
Stock options exercised               -               -       2.5 
------------------------------------------------------------------
                                                                  
Balance, December 31,                                             
 2012                   $          28.7 $           1.4 $   829.4 
------------------------------------------------------------------
------------------------------------------------------------------
                                                                  
                                                                  
Balance, January 1, 2011$          28.7 $             - $   772.8 
Payment of dividends                  -               -     (69.1)
Net earnings for the                                              
 year                                 -               -     118.3 
Other comprehensive loss                                          
 for the year                         -               -      (6.1)
Recognition of stock-                                             
 based compensation                   -               -       1.8 
Stock options exercised               -               -       1.7 
------------------------------------------------------------------
                                                                  
Balance, December 31,                                             
 2011                   $          28.7 $             - $   819.4 
------------------------------------------------------------------
------------------------------------------------------------------

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
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.