Welcome!

.NET Authors: Lori MacVittie, Yeshim Deniz, Ivan Antsipau, Liz McMillan, Michael Bushong

News Feed Item

Cray Reports 2012 Full Year and Fourth Quarter Financial Results

Company Reports Record Revenue and Operating Income

SEATTLE, WA -- (Marketwire) -- 02/14/13 -- Global supercomputer leader Cray Inc. (NASDAQ: CRAY) today announced financial results for the year and fourth quarter ended December 31, 2012. For 2012, Cray reported total revenue of $421.1 million, which compares with $236.0 million for 2011. Net income for 2012 was $161.2 million, or $4.27 per share, compared to $14.3 million, or $0.40 per share, for 2011. Income from operations for 2012 was $168.1 million compared to $1.2 million for 2011.

All figures in this release are based on U.S. GAAP unless otherwise noted. A reconciliation of GAAP to non-GAAP measures is included in the financial tables in this press release.

Non-GAAP net income, which adjusts for selected unusual and non-cash items (including the $139.1 million pre-tax gain from the Intel transaction), was $33.3 million, or $0.88 per share, for 2012, compared to non-GAAP net income of $4.7 million, or $0.13 per share, for 2011.

For the fourth quarter of 2012, revenue was $188.8 million compared to $91.6 million in the prior year period. The Company reported net income for the fourth quarter of $14.0 million, or $0.36 per share, compared to $31.0 million, or $0.85 per share, in the fourth quarter of 2011. Non-GAAP net income was $17.2 million, or $0.44 per share, for the fourth quarter of 2012, compared to non-GAAP net income of $17.1 million, or $0.47 per share for the same period last year.

Overall gross profit margin for 2012 was 36 percent compared to 40 percent in 2011. Product margin for 2012 was 35 percent, consistent with 2011 results; service margin for 2012 was 43 percent compared to 49 percent for 2011.

Operating expenses for 2012 were $122.2 million compared to $93.2 million in 2011. Compared to 2011, 2012 operating expenses were impacted by higher incentive based compensation, increased investments in our storage and big data initiatives, fewer R&D co-funding credits and additional expenses which resulted from our acquisition of Appro International.

As of December 31, 2012, cash and investments totaled $323 million.

"We had a great year across the board in 2012, highlighted by the completion of the largest supercomputer and storage system in our company's history," said Peter Ungaro, president and CEO of Cray. "We grew substantially in 2012, posting record revenue and operating profit for the year, and have put ourselves on a path to continue to grow faster than our overall market. With our new cluster solutions and XC30 supercomputer, we've expanded our offerings in the supercomputing market, while our storage and Big Data products continue to gain momentum with new customers. I'm excited about our prospects for 2013 and what we're building for the future."

Outlook
While a wide range of results remains possible for 2013, we expect revenue to be approximately $500 million for the year. Revenue is expected to ramp quarterly during 2013 with roughly $70 million in the first quarter and about 45% of the annual revenue expected in the fourth quarter. For 2013, overall gross margins are anticipated to be in the mid-30% range. Total operating expenses for 2013 are expected to be in the range of $160 million, which includes approximately $8 million in stock-based compensation and amortization of purchased intangibles. Based on this outlook, we expect to be profitable for 2013.

The Company's 2013 effective income tax rate is currently projected to be about 40% but is dependent on a number of variables. Based on this outlook, due to the Company's substantial net operating loss carryforwards, annual income tax provision is expected to be largely non-cash and our effective cash-tax rate is expected to be 8-10%.

Actual results for any future period are subject to large fluctuations given the nature of Cray's business.

Recent Highlights

  • In January, Cray announced a $23 million contract to provide two Cray XC30 supercomputers and Sonexion 1600 storage systems to Germany's National Meteorological Service -- the Deutscher Wetterdienst (DWD), one of the world's premier numerical weather prediction centers.

  • In December, Cray announced it was awarded a $39 million contract from the North-German Supercomputing Alliance (HLRN) to deliver a distributed Cray XC30 supercomputing system, which will be operated at sites in Berlin and Hannover, Germany.

  • In the first quarter of 2013, the Pittsburgh Supercomputing Center (PSC) launched its uRiKA graph-analytics appliance from YarcData for efficiently discovering unknown relationships in extremely large and complex bodies of information. Funded through the Strategic Technologies for Cyberinfrastructure program of the National Science Foundation, "Sherlock" features innovative hardware and software, as well as PSC-specific enhancements, designed to extend the range of applicability to scales not otherwise feasible.

  • In November, Cray completed the acquisition of Appro International, Inc.

  • In November, Cray expanded its Sonexion storage product line with the launch of the Cray Sonexion 1600 system. This next generation of Cray's integrated storage appliance offers substantial improvements in performance, density, installation time and ease of use.

  • In November, Cray announced the completion of the final milestone of its Defense Advanced Research Projects Agency (DARPA) contract related to the development of its next generation "Cascade" supercomputer. Cray began shipping this system as the Cray XC30 supercomputer late in 2012.

Conference Call Information
Cray will host a conference call today, Thursday, Feb. 14, 2013 at 1:30 p.m. PST (4:30 p.m. EST) to discuss its full year and fourth quarter 2012 financial results. To access the call, please dial into the conference at least 10 minutes prior to the beginning of the call at (855) 894-4205 and enter access code 97433832. International callers may dial (832) 900-4685 and enter the access code 97433832. To listen to the audio webcast, go to the Investors section of the Cray website at http://investors.cray.com.

If you are unable to attend the live conference call, an audio webcast replay will be available in the Investors section of the Cray website for 180 days. A replay of the call will be available by dialing (855) 859-2056, and entering the access code 97433832. The conference call replay will be available for 72 hours, beginning at 4:30 p.m. PST (7:30 p.m. EST) on Thursday, February 14.

Use of Non-GAAP Financial Measures
This press release contains "non-GAAP financial measures" under the rules of the U.S. Securities and Exchange Commission. A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release. Management believes that the non-GAAP financial measures provide additional insight for analysts and investors in evaluating Cray's financial and operational performance in the same way that the management evaluates the company's financial performance. However, these non-GAAP financial measures have limitations as an analytical tool, as they exclude the financial impact of transactions necessary or advisable for the conduct of Cray's business, such as the granting of equity compensation awards, and are not intended to be an alternative to financial measures prepared in accordance with GAAP. Hence, to compensate for these limitations, management does not review these non-GAAP financial metrics in isolation from its GAAP results, nor should investors.

Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements, and is not intended to represent a measure of performance in accordance with, or disclosures, required by generally accepted accounting principles, or GAAP. These measures are adjusted as described in the reconciliation of GAAP to non-GAAP numbers at the end of this release, but these adjustments should not be construed as an inference that all of these adjustments or costs are unusual, infrequent or non-recurring. Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP. Investors are advised to carefully review and consider this non-GAAP information as well as the GAAP financial results that are disclosed in Cray's SEC filings.

About Cray Inc.
Global supercomputing leader Cray Inc. (NASDAQ: CRAY) provides innovative systems and solutions enabling scientists and engineers in industry, academia and government to meet existing and future simulation and analytics challenges. Leveraging 40 years of experience in developing and servicing the world's most advanced supercomputers, Cray offers a comprehensive portfolio of high performance computing (HPC) systems, storage, and Big Data solutions delivering unrivaled performance, efficiency and scalability. Cray's Adaptive Supercomputing vision is focused on delivering innovative next-generation products that integrate diverse processing technologies into a unified architecture, allowing customers to surpass today's limitations and meeting the market's continued demand for realized performance. Go to www.cray.com for more information.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, but not limited to, statements related to Cray's financial guidance and expected future operating results and its product delivery plans. These statements involve current expectations, forecasts of future events and other statements that are not historical facts. Inaccurate assumptions as well as known and unknown risks and uncertainties can affect the accuracy of forward-looking statements and cause actual results to differ materially from those anticipated by these forward-looking statements. Factors that could affect actual future events or results include, but are not limited to, the risk that Cray does not achieve the operational or financial results that it expects, the risk that Cray is not able to successfully complete its planned product development efforts in a timely fashion or at all, the risk that Cray is not able to realize the expected benefits of the acquisition of Appro, the risk that Cray's Big Data and storage growth initiatives are not successful, the risk that Cray will not be able to secure orders for Cray systems to be delivered and accepted in 2013 when or at the levels expected, the risk that the systems ordered by customers are not delivered when expected or do not perform as expected once delivered, the risk that customer acceptances are not received when expected or at all, the risk that Cray is not able to achieve anticipated gross margin or expense levels, and such other risks as identified in the company's quarterly report on Form 10-Q for the period ended September 30, 2012, and from time to time in other reports filed by Cray with the U.S. Securities and Exchange Commission. You should not rely unduly on these forward-looking statements, which apply only as of the date of this release. Cray undertakes no duty to publicly announce or report revisions to these statements as new information becomes available that may change the company's expectations.

Cray is a registered trademark of Cray Inc. in the United States and other countries and Cray XC, Sonexion, uRiKA and YarcData are trademarks of Cray Inc. Other product and service names mentioned herein are the trademarks of their respective owners.




                         CRAY INC. AND SUBSIDIARIES
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
            (Unaudited and in thousands, except per share data)

                                  Three Months Ended    Twelve Months Ended
                                     December 31,          December 31,
                                 --------------------  --------------------
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
REVENUE:
  Product                        $ 170,961  $  75,223  $ 353,767  $ 155,561
  Service                           17,868     16,331     67,291     80,485
                                 ---------  ---------  ---------  ---------

    Total revenue                  188,829     91,554    421,058    236,046
                                 ---------  ---------  ---------  ---------

COST OF REVENUE:
  Cost of product revenue          123,692     46,894    231,237    101,000
  Cost of service revenue           10,942      9,532     38,643     40,680
                                 ---------  ---------  ---------  ---------

    Total cost of revenue          134,634     56,426    269,880    141,680
                                 ---------  ---------  ---------  ---------

    Gross profit                    54,195     35,128    151,178     94,366
                                 ---------  ---------  ---------  ---------
OPERATING EXPENSES:
  Research and development, net     18,177      6,583     64,303     49,452
  Sales and marketing               12,579      7,172     37,180     26,134
  General and administrative         7,282      4,233     20,707     15,840
  Restructuring                          0        (80)         0      1,783
                                 ---------  ---------  ---------  ---------

    Total operating expenses        38,038     17,908    122,190     93,209

Net gain on sale of interconnect
 hardware development program            0          0    139,068          0
                                 ---------  ---------  ---------  ---------
  Income (Loss) from operations     16,157     17,220    168,056      1,157
Other income (expense), net           (101)      (652)       472       (989)
Interest income (expense), net          60        (93)       204        (33)
                                 ---------  ---------  ---------  ---------
  Income (Loss) before income
   taxes                            16,116     16,475    168,732        135
Income tax (expense) benefit        (2,110)    14,529     (7,491)    14,194
                                 ---------  ---------  ---------  ---------
    Net Income (Loss)            $  14,006  $  31,004  $ 161,241  $  14,329
                                 =========  =========  =========  =========

  Basic net income (loss) per
   common share                  $    0.38  $    0.88  $    4.42  $    0.41
                                 ---------  ---------  ---------  ---------
  Diluted net income (loss) per
   common share                  $    0.36  $    0.85  $    4.27  $    0.40
                                 =========  =========  =========  =========

  Basic weighted average shares     37,130     35,380     36,509     35,122
  Diluted weighted average
   shares                           38,917     36,432     37,789     36,072



                         CRAY INC. AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                        (Unaudited and in thousands)

                                                 December 31,  December 31,
                                                     2012          2011
                                                 ------------  ------------
                     ASSETS
Current assets:
  Cash and cash equivalents                      $    253,065  $     50,411
  Restricted cash                                           -         3,776
  Short-term investments                               52,563             -
  Accounts and other receivables, net                  13,440        72,381
  Inventory                                            89,796        97,881
  Prepaid expenses and other current assets            11,823        12,932
                                                 ------------  ------------
    Total current assets                              420,687       237,381

Long-term investments                                  17,577             -
Property and equipment, net                            25,543        16,462
Service inventory, net                                  1,490         1,611
Goodwill                                               14,182             -
Purchased intangible assets, net                        7,981             -
Deferred tax assets                                    10,041        13,352
Other non-current assets                               12,813        14,293
                                                 ------------  ------------
    TOTAL ASSETS                                 $    510,314  $    283,099
                                                 ============  ============

      LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
  Accounts payable                               $     34,732  $     38,328
  Accrued payroll and related expenses                 25,927        11,270
  Other accrued liabilities                             8,616         5,414
  Deferred revenue                                     68,060        44,636
                                                 ------------  ------------
    Total current liabilities                         137,335        99,648

Long-term deferred revenue                             29,254        14,184
Other non-current liabilities                           3,179         2,453
                                                 ------------  ------------
    TOTAL LIABILITIES                                 169,768       116,285

Shareholders' equity:
  Preferred stock                                           -             -
  Common stock and additional paid-in capital         577,938       564,148
  Accumulated other comprehensive income                5,181         6,480
  Accumulated deficit                                (242,573)     (403,814)
                                                 ------------  ------------
    TOTAL SHAREHOLDERS' EQUITY                        340,546       166,814
                                                 ------------  ------------
    TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY   $    510,314  $    283,099
                                                 ------------  ------------



                         CRAY INC. AND SUBSIDIARIES
     Reconciliation of Selected U.S. GAAP Measures to non-GAAP Measures
                        GAAP to non-GAAP Net Income
             (Unaudited; in millions except per share amounts)

                                  Three months ended    Twelve months ended
                                     December 31,          December 31,
                                 --------------------  --------------------
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
GAAP Net Income                  $    14.0  $    31.0  $   161.2  $    14.3

  Non-GAAP adjustments
   impacting gross profit
    Share-based
     compensation            (1) $     0.1  $     0.1  $     0.3  $     0.5
    Amortization of
     acquired intangibles    (3) $     0.2  $       -  $     0.2  $       -
                                 ---------  ---------  ---------  ---------
  Total adjustments
   impacting gross profit        $     0.3  $     0.1  $     0.5  $     0.5

  Non-GAAP adjustments
   impacting operating
   expenses
    Share-based
     compensation            (1) $     1.6  $     0.8  $     5.6  $     3.1
    Restructuring charges    (2) $       -  $    (0.1) $       -  $     1.8
    Amortization of
     acquired intangibles    (3) $     0.1  $       -  $     0.1  $       -
    Acquisition costs        (3) $     0.9  $       -  $     0.9  $       -
                                 ---------  ---------  ---------  ---------
  Total adjustments
   impacting operating
   expenses                      $     2.6  $     0.7  $     6.6  $     4.9

  Gain on sale to Intel      (4) $       -  $       -  $  (139.1) $       -

  Non-GAAP adjustments
   impacting tax provision
    Income tax on
     reconciling items       (5) $    (0.1) $       -  $     4.4  $    (0.3)
    Other items impacting
     tax provision           (6) $     0.4  $   (14.7) $    (0.3) $   (14.7)
                                 ---------  ---------  ---------  ---------
  Total adjustments
   impacting tax provision       $     0.3  $   (14.7) $     4.1  $   (15.0)

Non-GAAP Net Income              $    17.2  $    17.1  $    33.3  $     4.7
                                 =========  =========  =========  =========

Non-GAAP Net Income per
 common share                    $    0.44  $    0.47  $    0.88  $    0.13
                                 =========  =========  =========  =========

Diluted weighted average
 shares                               38.9       36.4       37.8       36.1

----------------------------------------------------------------------------
Notes
(1) Adjustments to exclude non-cash expenses related to share-based
compensation
(2) Restructuring charges consisted primarily of severance expense
(3) Adjustments to exclude amortization of acquired intangible assets and
other acquisition-related charges related to recent Appro acquisition.
(4) Adjustment to exclude gain on divestiture of interconnect hardware
development program in Q2 2012
(5) Tax impact associated with reconciling items at non-GAAP tax rate
(6) Adjustments to reflect cash tax impact considering benefits principally
related to Company's net operating loss carryforwards and changes in
Company's valuation allowance held against deferred tax assets
----------------------------------------------------------------------------

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
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
With the iCloud scandal seemingly in its past, Apple announced new iPhones, updates to iPad and MacBook as well as news on OSX Yosemite. Although consumers will have to wait to get their hands on some of that new stuff, what they can get is the latest release of iOS 8 that Apple made available for most in-market iPhones and iPads. Originally announced at WWDC (Apple’s annual developers conference) in June, iOS 8 seems to spearhead Apple’s newfound focus upon greater integration of their products into everyday tasks, cross-platform mobility and self-monitoring. Before you update your device, here is a look at some of the new features and things you may want to consider from a mobile security perspective.