Welcome!

Microsoft Cloud Authors: Pat Romanski, Lori MacVittie, Andreas Grabner, Jim Kaskade, John Basso

News Feed Item

Nova Announces 2012 Fourth Quarter And Full Year Results

REHOVOT, Israel, Feb. 19, 2013 /PRNewswire/ -- Nova Measuring Instruments Ltd. (Nasdaq: NVMI), provider of leading edge stand alone metrology and the market leader of integrated metrology solutions to the semiconductor process control market, today reported its 2012 fourth quarter and full year results.

Highlights for the Fourth Quarter of 2012

  • Quarterly revenues of $22.1 million
  • Gross margin of 50%
  • GAAP Net income of $2.5 million, or $0.09 per diluted share
  • Non-GAAP Net income of $1.0 million, or $0.04 per diluted share

Highlights for the Full Year of 2012

  • Annual revenues of $96.2 million
  • Gross margin of 53%
  • GAAP Net income of $11.8 million, or $0.43 per diluted share
  • Non-GAAP Net income of $14.2 million, or $0.52 per diluted share

Management Comments

"Results for the fourth quarter were at the high end of our revenues guidance range and we were able to capitalize on improving demand late in the quarter," commented Gabi Seligsohn, President and CEO of Nova. "Despite the weakness during most of the second half of the year, we managed to generate positive operating cash flow in 2012. We achieved this even after stepping up our investment in research and development, and we ended the year with over $90 million in cash reserves. Our ability to invest ahead of important technology transitions continues to be an important element of our long-term strategy. Past investment, followed by multiple new products and strong execution, has enabled us to significantly outperform the industry during 2012." 

"With foundry demand returning toward the end of Q4, our bookings increased and we ended the year with a significant improvement in our backlog, providing strong momentum as we enter 2013.  Demand for memory remains weak, but continues to represent future upside potential. As expected, we are benefitting from the need for additional foundry capacity and yield improvements at 28nm, augmented by plans for ramping at the 20nm technology node soon. Process control requirements will continue to increase as process nodes shrink. We believe that optical metrology will continue to account for a higher share of overall capital expenditures, increasing our available market. Continuing our close collaboration with process equipment manufacturers and end customers, we are focused on increasing our footprint within each fab, expanding our customer base, and growing in exciting new market segments such as 3D interconnect technology. Coupled with continued reinvestment in next generation projects, these are the primary elements of our strategy for achieving sustainable long term growth."

Nova will discuss the results for its fiscal year 2012, along with its outlook and guidance for the first quarter of 2013, on a conference call today, February 19, 2013, beginning at 5:00pm ET. A webcast of the call will be available at: http://ir.novameasuring.com.

2012 Fourth Quarter Results

Total revenues for the fourth quarter of 2012 were $22.1 million, an increase of 15% relative to the fourth quarter of 2011, and a decrease of 10% relative to the third quarter of 2012.

Gross margin for the fourth quarter of 2012 was 50%, compared with 55% in the fourth quarter of 2011 and 53% in the third quarter of 2012.

Operating expenses in the fourth quarter of 2012 were $11.4 million, compared with $8.3 million in the fourth quarter of 2011 and $9.9 million in the third quarter of 2012.

On a GAAP basis, the company reported net income of $2.5 million, or $0.09 per diluted share, in the fourth quarter of 2012. This compares to a net income of $5.0 million, or $0.18 per diluted share, in the fourth quarter of 2011, and a net income of $2.9 million, or $0.11 per diluted share, in the third quarter of 2012.

On a Non-GAAP basis, which excludes adjustments related to tax assets, stock based compensation expenses and loss related to equipment and inventory damage, the company reported net income of $1.0 million, or $0.04 per diluted share, in the fourth quarter of 2012. This compares to a net income of $3.0 million, or $0.11 per diluted share, in the fourth quarter of 2011, and a net income of $3.7 million, or $0.14 per diluted share, in the third quarter of 2012.

Total cash reserves at the end of the fourth quarter of 2012 were $91.4 million.

2012 Full Year Results

Total revenues for 2012 were $96.2 million, compared to total revenues of $102.8 million for 2011.

Gross margin in 2012 was 53%, compared to 56% in 2011.

Operating expenses in 2012 were $40.6 million, compared to $33.3 million in 2011.

On a GAAP basis, the company reported net income of $11.8 million in 2012, or $0.43 per diluted share. This compares to a net income of $28.1 million, or $1.04 per diluted share, in 2011.

On a Non-GAAP basis, which excludes adjustments related to tax assets, stock based compensation expenses and loss related to equipment and inventory damage, the company reported net income $14.2 million in 2012, or $0.52 per diluted share. This compares to a net income of $27.1 million, or $1.00 per diluted share, in 2011.

During 2012, the company generated $7.7 million in cash flow from operating activities, as compared to $25.1 million cash flow generated from operating activities in 2011.

Total cash reserves at the end of 2012 were $91.4 million, compared to $87.1 million at the end of 2011.

Conference call details

To attend the conference call today, February 19, 2013, at 5:00pm ET, please dial in the US: 1 877 249 9037; or internationally +972 3 763 0145 or +1 212 444 0481.

To attend the conference call in Hebrew, on February 20, 2013, at 11:00am Israel Time, please dial +972 3 918 0609.

Both of the Nova financial results conference calls will be webcast live from a link on Nova's website at http://ir.novameasuring.com, together with a presentation to accompany the conference calls.

For those unable to participate in the conference calls, there will be replays available from the same links.

About Nova

Nova Measuring Instruments Ltd. develops, produces and markets advanced integrated and stand alone metrology solutions for the semiconductor manufacturing industry. Nova is traded on the NASDAQ & TASE under the symbol NVMI. The Company's website is www.novameasuring.com.

This press release provides financial measures that exclude non-cash charges for stock-based compensation, loss related to equipment and inventory damage as well as adjustments related to tax assets and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding Nova's performance because they reflect our operational results and enhances management's and investors' ability to evaluate Nova's performance before charges or benefits considered by management to be outside Nova's ongoing operating results.

The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management believes that it is in the best interest of its investors to provide financial information that will facilitate comparison of both historical and future results and allows greater transparency to supplemental information used by management in its financial and operational decision making. A reconciliation of each GAAP to non-GAAP financial measure discussed in this press release is contained in the accompanying financial tables.

This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding trends, demand for our products, expected deliveries, transaction, expected revenues, operating results, earnings and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward looking statements. These risks and other factors include but are not limited to:  our dependency on two product lines; the highly cyclical nature of the markets we target; our inability to reduce spending during a slowdown in the semiconductor industry; our ability to respond effectively on a timely basis to rapid technological changes; our dependency on OEM suppliers; cyber security risks; risks related to open source technologies; our ability to retain our competitive position despite the ongoing consolidation in our industry; risks associated with our dependence on a single manufacturing facility; our ability to expand our manufacturing capacity or marketing efforts to support our future growth; our dependency on a small number of large customers and small number of suppliers; our dependency on our key employees; risks related to changes in our order backlog; risks related to the financial, political and environmental instabilities in Asia; risks related to our intellectual property; changes in customer demands for our products; new product offerings from our competitors; changes in or an inability to execute our business strategy; unanticipated manufacturing or supply problems; changes in tax requirements; changes in customer demand for our products; risks related to currency fluctuations; and risks related to our operations in Israel. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in Nova's Annual Report on Form 20-F for the year ended December 31, 2011 filed with the Securities and Exchange Commission on March 28, 2012. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Measuring Instruments Ltd. does not assume any obligation to update the forward-looking information contained in this press release.

Company Contact:       

Investor Relations Contacts: 

Dror David, Chief Financial Officer  

Ehud Helft / Kenny Green

Nova Measuring Instruments Ltd.     

CCG Investor Relations

Tel: 972-73-229-5833        

Tel: +1-646-201-9246

E-mail: [email protected]

E-mail: [email protected]

http://www.novameasuring.com            


(Tables to Follow)

NOVA MEASURING INSTRUMENTS LTD.

CONSOLIDATED BALANCE SHEET

(U.S. dollars in thousands)








As of
December 31,


As of
December 31,



2012


2011






CURRENT ASSETS





   Cash and cash equivalents


15,963


18,716

Short-term interest-bearing bank deposits


75,039


66,247

Held to maturity securities


--


1,582

Trade accounts receivable


17,362


13,402

Inventories


17,827


9,608

Deferred income tax assets


1,850


2,500

Other current assets


2,549


1,173



130,590


113,228

LONG-TERM ASSETS





Long-term interest-bearing bank deposits


405


545

Other long-term assets


516


291

Severance pay funds


1,873


2,885



2,794


3,721






FIXED ASSETS, NET


8,660


5,998






TOTAL ASSETS


142,044


122,947






CURRENT LIABILITIES





Trade accounts payable


10,819


8,305

Deferred income


4,775


2,172

Other current liabilities


8,444


8,082



24,038


18,559






LONG-TERM LIABILITIES





Liability for employee severance pay


2,806


3,851

Deferred income


159


611

Other long-term liability


270


20



3,235


4,482






SHAREHOLDERS' EQUITY


114,771


99,906






TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY


142,044


122,947








 


NOVA MEASURING INSTRUMENTS LTD.

QUARTERLY CONSOLIDATED STATEMENTS OF OPERATIONS

 (U.S. dollars in thousands, except per share data)



Three months ended



December 31,
2012

September 30,

2012

December 31,
2011










REVENUES





Products

17,016

19,359

15,273


Services

5,082

5,059

3,919



22,098

24,418

19,192







COST OF REVENUES





Products

7,390

7,999

5,972


Services

3,644

3,483

2,693



11,034

11,482

8,665







GROSS PROFIT

11,064

12,936

10,527







OPERATING EXPENSES





Research and Development expenses, net

7,117

6,003

4,567


Sales and Marketing expenses

3,102

2,967

2,951


General and Administration expenses

1,191

973

746



11,410

9,943

8,264







OPERATING PROFIT (LOSS)

(346)

2,993

2,263







INTEREST INCOME, NET

337

283

207







INCOME (LOSS) BEFORE INCOME TAXES

(9)

3,276

2,470







    INCOME TAX  BENEFIT (EXPENSES)

2,481

(381)

2,500







NET INCOME FOR THE PERIOD

2,472

2,895

4,970

















Earnings per share:





     Basic

0.09

0.11

0.19


     Diluted

0.09

0.11

0.18







Shares used for calculation of earnings per share:





     Basic

26,679

26,646

26,425


     Diluted

27,317

27,485

27,007










 

NOVA MEASURING INSTRUMENTS LTD.

ANNUAL CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. dollars in thousands, except per share data)




Year ended


December 31, 2012

December 31, 2011



REVENUES



Products

77,212

85,562

Services

18,956

17,266


96,168

102,828




COST OF REVENUES



Products

31,734

33,789

Services

13,280

11,043


45,014

44,832




GROSS PROFIT

51,154

57,996




OPERATING EXPENSES



Research & Development expenses, net

24,594

18,677

Sales & Marketing expenses

11,998

11,373

General & Administration expenses

3,978

3,229


40,570

33,279




OPERATING PROFIT

10,584

24,717




    INTEREST INCOME, NET

 

1,368

901




INCOME BEFORE INCOME TAXES

 

11,952

25,618




    INCOME TAX  BENEFIT (EXPENSES)

(124)

2,500




NET INCOME FOR THE PERIOD

11,828

28,118







Net income per share:



     Basic

0.44

1.07

     Diluted

0.43

1.04







Shares used for calculation of net income per share:



     Basic

26,619

26,232

     Diluted       

27,277

26,931

 


NOVA MEASURING INSTRUMENTS LTD.

QUARTERLY CONSOLIDATED STATEMENTS OF CASH FLOWS

(U.S. dollars in thousands)




Three months ended


December 312012

September 30, 2012

December 312011

CASH FLOW – OPERATING ACTIVITIES








Net income for the period

2,472

2,895

4,970

Adjustments to reconcile net income to net cash

     provided by operating activities:








     Depreciation and amortization

858

771

541

     Loss related to equipment and inventory damage

509

-

-

     Amortization of deferred stock-based compensation

609

489

476

     Increase (decrease) in liability for employee

           termination benefits, net

 

104

 

(80)

 

(60)

     Decrease (increase) in deferred income tax assets, net

(1,806)

349

(2,500)

     Decrease (increase) in trade accounts receivables

(2,461)

2,619

(1,281)

     Decrease (increase) in inventories

143

(3,770)

954

     Decrease (increase) in other current and long term Assets

250

(64)

85

           Increase (decrease) in trade accounts payables and other
                 long-term liabilities

 

(2,392)

 

(5)

 

332

           Increase in other current liabilities

414

485

625

           Increase (decrease) in short and long term
                 deferred income

 

207

 

572

 

(287)





Net cash provided by (used in) operating activities

(1,093)

4,261

3,855





CASH FLOW – INVESTMENT ACTIVITIES








Decrease (increase) in short-term interest-bearing

     bank deposits

 

(18,110)

 

11,100

 

8,044

Decrease in long-term interest-bearing bank deposits

140

-

86

Proceeds from (investments in) short-term held to

     maturity securities

 

1,554

 

(5)

 

(482)

Additions to fixed assets

(1,512)

(896)

(632)

Net cash provided by (used in) investment activities

(17,928)

10,199

7,016





CASH FLOW – FINANCING ACTIVITIES








Shares issued under employee share-based plans

12

104

163

Net cash provided by financing activities

12

104

163





Increase (decrease) in cash and cash equivalents

(19,009)

14,564

11,034

Cash and cash equivalents – beginning of period

34,972

20,408

7,682

Cash and cash equivalents – end of period

15,963

34,972

18,716







 

NOVA MEASURING INSTRUMENTS LTD.

ANNUAL CONSOLIDATED STATEMENTS OF CASH FLOWS

(U.S. dollars in thousands)




Year ended


December 31,
201
2

December 31,
201
1

CASH FLOW – OPERATING ACTIVITIES






Net income for the period

11,828

28,118

Adjustments to reconcile net income to net cash

    provided by operating activities:






     Depreciation and amortization

2,783

1,700

     Loss related to equipment and inventory damage

509

-

     Amortization of deferred stock-based compensation

1,927

1,435

     Increase (decrease) in liability for employee

           termination benefits, net

 

(27)

 

43

     Decrease (increase) in deferred income tax assets, net

694

(2,500)

           Increase in trade accounts receivables

(3,960)

(240)

     Increase in inventories

(10,513)

(1,056)

     Increase in other current and long term assets

(467)

(305)

           Increase (decrease) in trade accounts payables
                
and other long term liabilities

2,510

(1,639)

     Increase in other current liabilities

283

159

     Increase (decrease) in short and long term deferred income

2,151

(614)

Net cash provided by operating activities

7,718

25,101




CASH FLOW – INVESTMENT ACTIVITIES






Increase in short-term interest-bearing bank deposits

(8,792)

(30,685)

Decrease in long-term interest-bearing bank deposits

140

86

Proceeds from (investments in) short-term held to maturity

      securities

 

1,582

 

(1,582)

Additions to fixed assets

(3,660)

(2,307)

Net cash used in investment activities

(10,730)

(34,488)




CASH FLOW – FINANCING ACTIVITIES






Shares issued under employee share-based plans

259

2,709

Net cash provided by financing activities

259

2,709




Decrease in cash and cash equivalents

(2,753)

(6,678)

Cash and cash equivalents – beginning of period

18,716

25,394

Cash and cash equivalents – end of period

15,963

18,716

 

DISCLOSURE OF NON-GAAP NET INCOME

(U.S. dollars in thousands, except per share data)




Three months ended


December 31,

September 30,

December 31,


2012

2012

2011





GAAP Net income for the period

2,472

2,895

4,970





Non-GAAP Adjustments:




Stock based compensation expenses

609

489

476

Adjustments related to tax assets

(2,553)

349

(2,500)

Loss related to equipment and inventory damage

509

-

-





Non-GAAP Net income for the period

1,037

3,733

2,946





Non-GAAP Net income per share:




     Basic

0.04

0.14

0.11

     Diluted

0.04

0.14

0.11





Shares used for calculation of Non-GAAP net income per share:




     Basic

26,679

26,646

26,425

     Diluted

27,317

27,485

27,007






Year ended


December 31,

December 31,


2012

2011




GAAP Net income for the period

11,828

28,118




Non-GAAP Adjustments:



Stock based compensation expenses

1,927

1,435

Adjustments related to tax assets

(53)

(2,500)

Loss related to equipment and inventory damage

509

-




Non-GAAP Net income for the period

14,211

27,053




Non-GAAP Net income per share:



     Basic

0.53

1.03

     Diluted

0.52

1.00




Shares used for calculation of Non-GAAP net income per share:



     Basic

26,619

26,232

     Diluted

27,277

26,931

 

SOURCE Nova Measuring Instruments Ltd.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Unsecured IoT devices were used to launch crippling DDOS attacks in October 2016, targeting services such as Twitter, Spotify, and GitHub. Subsequent testimony to Congress about potential attacks on office buildings, schools, and hospitals raised the possibility for the IoT to harm and even kill people. What should be done? Does the government need to intervene? This panel at @ThingExpo New York brings together leading IoT and security experts to discuss this very serious topic.
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.