Click here to close now.

Welcome!

.NET Authors: Carmen Gonzalez, VictorOps Blog, Elizabeth White, Liz McMillan, Greg O'Connor

News Feed Item

STAG Industrial Announces Fourth Quarter And Year End 2012 Results

BOSTON, Feb. 20, 2013 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE: STAG), a company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States, today announced its financial and operating results for the fourth quarter and year end 2012.

(Logo: http://photos.prnewswire.com/prnh/20110907/NE63410LOGO )

In the Fourth Quarter of 2012, the Company:

  • Generated Cash Net Operating Income (Cash NOI) of $23.4 million compared to $13.6 million for the fourth quarter of 2011, an increase of 72%.
  • Generated Core Funds from Operations (Core FFO) of $14.0 million compared to $5.3 million for the fourth quarter of 2011, an increase of 163%. On a per share basis, this represents $0.34 per basic share and $0.33 per fully diluted share compared to $0.23 per basic and fully diluted share in the fourth quarter 2011.
  • Generated Adjusted Funds from Operations (AFFO) of $13.1 million compared to $5.6 million for the fourth quarter of 2011, an increase of 135%.
  • Completed the acquisition of 40 properties for total cost of approximately $212.8 million with an average cash capitalization rate of 9% plus and a remaining weighted average lease term of approximately 4.3 years.
  • Added approximately 6.5 million square feet to the Company's portfolio through these acquisitions, increasing the Company's asset base by 28%, based on square footage, over the third quarter of 2012 and 72% over the year ended 2011.
  • Leased over 856,000 square feet.
  • Achieved occupancy on the Company's portfolio of 95.1% and same store occupancy of 93.2%.
  • Renewed 84% of the 2.2 million square feet of leases due to expire in 2012. 
  • Declared a fourth quarter dividend of $0.27 per share, an annualized rate of 6.0% on the quarter ended share price of $17.97.

"A very busy and successful fourth quarter topped off a great, first full year for STAG as a public company.  In 2012, we continued to move forward with our low leverage strategy for the execution of our differentiated investment thesis.  I am very proud of our team and of the solid total shareholder return of 68% we delivered to our shareholders over 2012," commented Benjamin Butcher, Chief Executive Officer.

Acquisition Activity

During the fourth quarter of 2012, the Company completed the acquisition of 40 industrial properties consisting of approximately 6.5 million square feet. 

FOURTH QUARTER 2012 ACQUISITIONS

STAG Industrial, Inc. 








Acq. Date

SF


Properties


MSA

Cost (mm)

10/09/12

4,341,198


31


16 different MSA's

$128.7

10/26/12

217,000


1


Springfield, MA 

$8.2

10/31/12

108,000


1


Detroit-Ann Arbor-Flint, MI 

$5.0

11/29/12

357,673


1


Harrisonburg, VA

$16.2

12/13/12

177,500


1


Toledo, OH 

$9.1

12/14/12

129,803


1


Chicago-Gary-Kenosha, IL-IN-WI 

$5.7

12/19/12

226,576


1


Kansas City, MO-KS 

$8.0

12/20/12

102,000


1


Atlanta, GA 

$4.6

12/20/12

584,301


1


Chicago-Gary-Kenosha, IL-IN-WI 

$19.5

12/21/12

225,680


1


Atlanta, GA 

$7.8

Total

6,469,731


40



$212.8

The Company paid approximately $212.8 million, including closing costs, for the 40 properties bringing the total cost of properties acquired for the year ended 2012 to $427 million and since the Company's initial public offering in April 2011 to $552 million. The Company's portfolio square footage increased to 29.4 million at December 31, 2012 representing a 78% increase in square footage since December 31, 2011 and a 125% increase in square footage since April 2011.

Subsequent to the end of the fourth quarter, the Company acquired one property containing a total of 319,000 square feet located in Orangeburg, South Carolina for approximately $4.7 million.

The Company also has entered into contracts to acquire nine additional properties for a combined purchase price of approximately $68 million, subject to various closing conditions.  These conditions have not yet been satisfied so there can be no assurance that these transactions will be consummated.

Leasing Activity and Occupancy

In the fourth quarter, the Company signed renewals for 671,353 square feet.  The tenant retention rate for the leases expiring in the fourth quarter of 2012 was 72% resulting in a tenant retention rate for the full year of 84%.  The Company also signed approximately 184,814 square feet of new and expansion leases.  Tenant improvements and leasing commissions for leases signed in the fourth quarter were approximately $0.4 million or less than 2% of Cash NOI.  For 2012, the rental rates on renewed leases decreased 0.8% on a cash basis and increased 2.3% on a GAAP basis. 

Year ending occupancy increased 190 basis points to 95.1% from 93.2% for the year ended 2011.  The Company's occupancy rate for the fourth quarter decreased to 95.1% from 96.3% at the end of the third quarter of 2012.  A major factor in this decrease was the acquisition of 401,147 square feet of vacant space that was included with the portfolio purchased early in the quarter.  Quarter over quarter same store occupancy decreased from 94.2% to 93.2%.  Year over year same store occupancy decreased marginally from 93.3% at the end of the fourth quarter of 2011 to 93.2% at the end of the fourth quarter 2012.

Key Financial Measures

Cash NOI, for the fourth quarter of 2012, was approximately $23.4 million, an increase of 72% compared to Cash NOI in the fourth quarter of 2011 of approximately $13.6 million.  Cash NOI after noncontrolling interest was approximately $19.8 million for the fourth quarter of 2012. 

Core FFO for the fourth quarter of 2012, was approximately $14.0 million, an increase of 163% over the fourth quarter of 2011 of approximately $5.3 million. Core FFO attributable to common stockholders was approximately $11.8 million or $0.33 per diluted share of common stock as compared to $0.23 per diluted share of common stock in the fourth quarter of 2011.

AFFO was approximately $13.1 million for the fourth quarter of 2012 compared to approximately $5.6 million for the fourth quarter of 2011, an increase of 135%. AFFO attributable to common stockholders was approximately $11.1 million in the fourth quarter of 2012.  Net Loss for the fourth quarter of 2012 was approximately $2.4 million.  Included in Net Loss was depreciation and amortization expense of approximately $15.0 million.

A reconciliation of Net Loss to Cash NOI, Adjusted EBITDA, Core FFO, FFO, and AFFO, all non-GAAP financial measures, appears at the end of this release.

The Company has included in a supplemental information package the results and operating statistics that reflect the activities of the Company for the three months and year ended December 31, 2012.  See below regarding information for the supplemental information package.

Financial Strength and Liquidity

As of quarter end, the Company's net debt to annualized adjusted earnings before interest, tax, depreciation and amortization (Adjusted EBITDA) was 5.8x, interest coverage based on Adjusted EBITDA was 4.8x, and the weighted average interest rate on the outstanding debt was 3.69%.  Adjusted EBITDA was calculated based on annualizing the Company's results for the three months ended December 31, 2012.  The Company's total debt to total assets was 47.7% as of December 31, 2012.

As of quarter end, the Company had approximately $479 million of debt outstanding with an average term of 5.4 years, including $150 million drawn under the Company's unsecured term loan.  The interest rate on $100 million of this amount has been swapped effective October 10, 2012, at an all-in interest rate of 2.42% (the current 1.65% unsecured facility spread plus the one-month LIBOR swapped to a weighted average fixed rate of 0.77%).   At quarter end, there was an outstanding balance of $99 million, and $40 million of availability under the Company's $200 million unsecured revolving credit facility.  There was an additional $104 million of availability from unencumbered assets added to the unsecured facility in January 2013.

On December 14, 2012, we established an "at the market" (ATM) stock offering program through which we may sell from time to time up to an aggregate of $75 million of its common stock through sales agents. Between December 14, 2012 and December 31, 2012, under the program we issued an aggregate of 298,000 shares of common stock.  We received net proceeds of approximately $5.3 million,

Subsequent to the fourth quarter, the Company closed on a new $150 million unsecured term loan with a maturity date of February 14, 2020.  Borrowings under this unsecured term loan currently bear interest at a floating rate equal to the one-month LIBOR plus a spread of 2.15%, based on the Company's consolidated leverage ratio.  The Company borrowed $25 million under this facility at closing.

Secondary Offering

Subsequent to quarter end, on January 22, 2013 the Company completed an offering of 6,284,152 shares of common stock, inclusive of 819,672 shares exercised under the underwriters' option, at a public offering price of $18.30 per share.  The Company received approximately $115 million in total gross proceeds before underwriting discounts and offering expenses. The Company used the net proceeds of the offering to fully repay indebtedness outstanding under its unsecured revolving credit facility.

Conference Call

The Company will host a conference call on Thursday, February 21, 2013, at 11:00 a.m. (Eastern Time) to discuss the operating and financial results.  The call can be accessed live over the phone by dialing 1-877-407-0784 or, for international callers, (201) 689-8560.  A replay will be available shortly after the call and can be accessed by dialing (877) 870-5176 or, for international callers, (858) 384-5517.  The passcode for the replay is 408127.  The replay will be available until February 28, 2013.

Interested parties also may listen to a simultaneous webcast of the conference call by logging on to the Company's website at www.stagindustrial.com. The on-line replay will be available for a limited time following the call.

Supplemental Schedules

The Company has provided a supplemental information package to provide additional disclosure and financial information for the benefit of the Company's various stakeholders.  This can be found under the "Presentations" tab in the Investor Relations section of the Company's website at www.stagindustrial.com.

Additional information is also available on the Company's website at www.stagindustrial.com.

CONSOLIDATED BALANCE SHEETS

STAG Industrial, Inc. 

(unaudited, in thousands, except share data)





December 31, 2012

December 31, 2011

Assets



Rental Property:



Land

$                          104,656

$                            70,870

Buildings

654,518

394,822

Tenant improvements

34,900

25,056

Building and land improvements

22,153

11,510

Less: accumulated depreciation

(46,175)

(30,004)

Total rental property, net

770,052

472,254

Cash and cash equivalents

19,006

16,498

Restricted cash

5,497

6,611

Tenant accounts receivable, net

9,351

5,592

Prepaid expenses and other assets

1,556

1,355

Deferred financing fees, net

4,704

2,634

Leasing commissions, net

1,674

954

Goodwill

4,923

4,923

Due from related parties

806

400

Deferred leasing intangibles, net

187,555

113,293

Total assets 

$                      1,005,124

$                          624,514

Liabilities and Equity



Liabilities:



Mortgage notes payable

$                          229,915

$                          296,779

Unsecured credit facility

99,300

-

Unsecured term loan

150,000

-

Accounts payable, accrued expenses and other liabilities

12,111

6,044

Interest rate swaps

480

215

Tenant prepaid rent and security deposits

5,686

3,478

Dividends and distributions payable

11,301

6,160

Deferred leasing intangibles, net

6,871

1,929

Total liabilities 

$                          515,664

$                          314,605

Equity:



Preferred stock, par value $0.01 per share, 10,000,000

shares authorized, 2,760,000 shares (liquidation

preference of $25.00 per share) issued and outstanding at

December 31, 2012 and December 31, 2011

69,000

69,000

Common stock $0.01 par value, 100,000,000 shares

authorized, 35,698,582 and 15,901,560 shares

outstanding at December 31, 2012 and December 31,

2011, respectively

357

159

Additional paid-in capital

419,643

179,919

Common stock dividends in excess of earnings

(61,024)

(18,385)

Accumulated other comprehensive loss

(371)

-

Total stockholders' equity

427,605

230,693

Noncontrolling interest

61,855

79,216

Total equity

489,460

309,909

Total liabilities and equity 

$                      1,005,124

$                          624,514





CONSOLIDATED STATEMENTS OF OPERATIONS

STAG Industrial, Inc. 

(unaudited, in thousands, except share data)






Year Ended December 31, 2012

Three months Ended December 31, 2012

Three months Ended December 31, 2011

Revenue




Rental income

$                            75,390

$                            24,193

$                            14,268

Tenant recoveries

8,785

2,712

1,958

Other income

1,312

331

326

Total revenue

85,487

27,236

16,552

Expenses




Property

5,998

1,963

1,474

General and administrative

14,549

4,587

3,853

Real estate taxes and insurance

6,890

2,309

1,445

Property acquisition costs

4,218

1,709

394

Depreciation and amortization

43,275

14,987

7,920

Loss on impairment

622

-

-

Other expenses

339

192

294

Total expenses

75,891

25,747

15,380

Other income (expense)




Interest income

19

2

14

Interest expense

(16,110)

(4,335)

(4,518)

Gain on interest rate swaps

215

-

908

Formation transaction costs

-

-

115

Offering costs

(68)

-

-

Loss on extinguishment of debt

(929)

-

-

Total other income (expense)

(16,873)

(4,333)

(3,481)

Net loss from continuing operations

$                             (7,277)

$                             (2,844)

$                             (2,309)

Discontinued operations




Income (loss) attributable to discontinued operations

797

448

(777)

Impairment loss attributable to discontinued operations

(3,941)

-

-

Gain on sales of real estate

222

3

329

Total income (loss) attributable to discontinued operations

(2,922)

451

(448)

Net loss

$                          (10,199)

$                             (2,393)

$                             (2,757)

Less: loss attributable to noncontrolling interest

(3,720)

(615)

(1,241)

Net loss attributable to STAG Industrial, Inc.

$                             (6,479)

$                             (1,778)

$                             (1,516)

Less: preferred stock dividends

6,210

1,553

1,018

Less: amount allocated to unvested restricted stockholders

122

41

-

Net loss attributable to common stockholders

$                          (12,811)

$                             (3,372)

$                             (2,534)

Weighted average common shares outstanding — basic and diluted

25,046,664

34,964,493

15,820,049

Income (loss) per share — basic and diluted




Loss from continuing operations attributable to common stockholders

$                               (0.42)

$                               (0.11)

$                               (0.14)

Income (loss) from discontinued operations attributable to common stockholders

$                               (0.09)

$                                 0.01

$                               (0.02)

Loss per share — basic and diluted

$                               (0.51)

$                               (0.10)

$                               (0.16)

RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES

STAG Industrial, Inc. 

(unaudited, in thousands, except share data)






 Year Ended December 31, 2012 

 Three months Ended December 31, 2012 

 Three months Ended December 31, 2011 

Net loss

$                          (10,199)

$                             (2,393)

$                             (2,757)

Asset management fee income

(1,196)

(272)

(318)

General and administrative

14,549

4,587

3,853

Property acquisition costs

4,218

1,709

394

Depreciation and amortization

43,471

14,986

8,014

Interest income

(19)

(2)

(14)

Interest expense

16,269

4,335

4,672

Gain on interest rate swaps

(215)

-

(908)

Formation transaction costs

-

-

(115)

Offering costs

68

-

-

Loss on impairment

4,563

-

-

Loss on extinguishment of debt

929

-

-

Other expenses

339

192

294

Gain on sales of real estate

(222)

(3)

(329)

NET OPERATING INCOME

$                            72,555

$                            23,139

$                            12,786

Noncontrolling interest

(16,451)

(3,605)

(4,204)

Net operating income after noncontrolling interest

$                            56,104

$                            19,534

$                              8,582





Net operating income 

$                            72,555

$                            23,139

$                            12,786

Straight line rent adjustment

(2,796)

(1,063)

(215)

Above/below market lease amortization, net

4,837

1,356

1,062

CASH NET OPERATING INCOME

$                            74,596

$                            23,432

$                            13,633

Noncontrolling interest

(16,913)

(3,651)

(4,483)

Cash net operating income after noncontrolling interest

$                            57,683

$                            19,781

$                              9,150





Net loss

$                          (10,199)

$                             (2,393)

$                             (2,757)

Above/below market lease amortization, net

4,837

1,356

1,062

Property acquisition costs

4,218

1,709

394

Depreciation and amortization

43,471

14,986

8,014

Interest income

(19)

(2)

(14)

Interest expense

16,269

4,335

4,672

Gain on interest rate swaps

(215)

-

(908)

Formation transaction costs

-

-

(115)

IPO  bonus payment

-

-

1,000

Offering costs

68

-

-

Loss on impairment

4,563

-

-

Loss on extinguishment of debt

929

-

-

Gain on sales of real estate

(222)

(3)

(329)

ADJUSTED EBITDA

$                            63,700

$                            19,988

$                            11,019

Noncontrolling interest 

(14,443)

(3,114)

(3,623)

Adjusted EBITDA after noncontrolling interest

$                            49,257

$                            16,874

$                              7,396









RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES

STAG Industrial, Inc. 

(unaudited, in thousands, except share data)






 Year Ended December 31, 2012 

 Three months Ended December 31, 2012 

 Three months Ended December 31, 2011 

Net loss

$                          (10,199)

$                             (2,393)

$                             (2,757)

Depreciation and amortization

43,471

14,986

8,014

Loss on impairment

4,563

-

-

Gain on sales of real estate

(222)

(3)

(329)

Funds from operations

$                            37,613

$                            12,590

$                              4,928

Preferred stock dividends

(6,210)

(1,553)

(1,018)

Amount allocated to unvested restricted stockholders

(122)

(41)

-

Funds from operations  attributable to common stockholders and unit holders

$                            31,281

$                            10,996

$                              3,910

Noncontrolling interest

(7,120)

(1,720)

(1,286)

Funds from operations attributable to common stockholders

$                            24,161

$                              9,276

$                              2,624





Funds from operations  attributable to common stockholders and unit holders

$                            31,281

$                            10,996

$                              3,910

Above/below market lease amortization, net

4,837

1,356

1,062

Termination income

(271)

(30)

-

Property acquisition costs

4,218

1,709

394

Gain on interest rate swaps

(215)

-

(908)

Formation transaction costs

-

-

(115)

IPO  bonus payment

-

-

1,000

Offering costs

68

-

-

Loss on extinguishment of debt

929

-

-

CORE FUNDS FROM OPERATIONS

$                            40,847

$                            14,031

$                              5,343

Noncontrolling interest 

(9,289)

(2,193)

(1,757)

Core funds from operations attributable to common stockholders

$                            31,558

$                            11,838

$                              3,586





Weighted average shares outstanding  - basic

25,046,664

34,964,493

15,820,049

Unvested restricted shares

72,041

63,807

-

Unvested outperformance plan

556,483

556,483

-

Weighted average shares outstanding  - diluted

25,675,188

35,584,783

15,820,049

CORE FUNDS FROM OPERATIONS PER COMMON SHARE - BASIC

$                                 1.26

$                                 0.34

$                                 0.23

CORE FUNDS FROM OPERATIONS PER COMMON SHARE - DILUTED

$                                 1.23

$                                 0.33

$                                 0.23





Core funds from operations

$                            40,847

$                            14,031

$                              5,343

Straight line rent adjustment

(2,796)

(1,063)

(215)

Recurring capital expenditures

(438)

(176)

(55)

Lease renewal commissions and tenant improvements

(592)

(338)

(50)

Non-cash interest expense

957

202

258

Non-cash compensation

1,936

479

317

ADJUSTED FUNDS FROM OPERATIONS

$                            39,914

$                            13,135

$                              5,598

Noncontrolling interest

(9,077)

(2,053)

(1,841)

Adjusted funds from operations to common stockholders 

$                            30,837

$                            11,082

$                              3,757

Non-GAAP Financial Measures

Net operating income (NOI) is defined as rental revenue, including reimbursements, less property expenses and real estate taxes, which excludes depreciation, amortization, general and administrative expenses, interest expense, interest income, gain on interest rate swaps, asset management fee income, property acquisition costs, gain on sale of real estate, offering costs, formation transaction costs, loss on impairment, loss on extinguishment of debt, and other expenses. The Company defines Cash NOI as NOI less straight line rental income adjustment and less amortization of above and below market leases. The Company considers NOI and Cash NOI to be appropriate supplemental performance measures because they reflect the operating performance of the Company's properties and exclude certain items that are not considered to be controllable in connection with the management of the property.  However, these measures should not be viewed as alternative measures of the Company's financial performance since they exclude expenses which could materially impact the Company's results of operations. Further, the Company's NOI and Cash NOI may not be comparable to that of other real estate companies, as they may use different methodologies for calculating NOI and Cash NOI.

The Company calculates FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts ("NAREIT"). FFO represents net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of depreciable operating property, impairment write-downs of depreciable real estate, real estate related depreciation and amortization (excluding amortization of deferred financing costs and fair market value of debt adjustment) and after adjustments for unconsolidated partnerships and joint ventures.

The Company uses FFO as a supplemental performance measure because, in excluding real estate related depreciation and amortization and gains and losses from property dispositions, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs.  The Company also believes that, as a widely recognized measure of the performance of REITs, FFO will be used by investors as a basis to compare the Company's operating performance with that of other REITs.

The Company presents Core FFO and Adjusted FFO excluding property acquisition costs, gain on interest rate swaps, termination income, offering costs, loss on extinguishment of debt, formation transaction costs, one-time IPO bonus payment, and amortization of above and below market leases.  Adjusted FFO of the Company also excludes straight line rental income adjustment, non-cash interest expense, non-cash compensation and adding recurring capital expenditures and lease renewal commissions and tenant improvements.  The Company believes that Core FFO and Adjusted FFO are useful supplemental measures regarding the Company's operating performance as they provide a more meaningful and consistent comparison of the Company's operating performance and allows investors to more easily compare the Company's operating results. 

However, because FFO, Core FFO and Adjusted FFO exclude depreciation and amortization and capture neither the changes in the value of the Company's properties that result from use or market conditions, nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of the Company's properties, all of which have real economic effect and could materially impact the Company's results from operations, the utility of FFO, Core FFO and Adjusted FFO as measures of the Company's performance is limited. Other equity REITs may not calculate FFO in accordance with the NAREIT definition as the Company does, and, accordingly, the Company's FFO, Core FFO and Adjusted FFO may not be comparable to such other REITs' FFO, Core FFO or Adjusted FFO.  FFO, Core FFO and Adjusted FFO should not be used as a measure of the Company's liquidity, and are not indicative of funds available for the Company's cash needs, including its ability to pay dividends.

The Company believes that EBITDA and Adjusted EBITDA are helpful to investors as supplemental measures of the operating performance of a real estate company because they are direct measures of the actual operating results of the Company's industrial properties. The Company also uses these measures in ratios to compare its performance to that of its industry peers.  The Company presents Adjusted EBITDA excluding property acquisition costs, gain on interest rate swaps, offering costs, formation transaction costs, loss on impairment, gain on sale of real estate, loss on extinguishment of debt, and amortization of above and below market leases.

In the measures above, the Company excludes certain nonrecurring items that the Company does not believe are reasonably likely to recur within two years.

Forward-Looking Statements

This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2011, as updated by the Company's subsequent reports filed with the Securities and Exchange Commission. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

SOURCE STAG Industrial, Inc.

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
In this session we look at creating interactive communications via the web by adding messaging, file transfer, and group communication (group chat and audio/video conferencing) into the web experience. We will also discuss potential applications of this technology in areas including B2B, B2C, P2P, and gaming. Peter is Technical Director at Acision. He graduated from The University of Edinburgh in 2000 with a BSc (Hons) in Computer Science. After graduation Peter worked on a PSTN switch developing signalling stacks for SS7, ISDN and similar protocols and creating advanced routing and serv...
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable older adults to live independent lives while staying connected to loved ones. M2M will continue to gr...
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements around Unified Networks, Cloud Computing strategies, Virtualization around Software defined Data Ce...
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) application providers dating back to 2004. Cybozu's kintone.com is a leading global BYOA (Build Your O...
Recent technology advances in miniaturization has positioned the wearables as the pinnacle of technology convergence with the human body. We inquire if wearables are mere standard miniaturized devices extended with the connectivity and present our views on considerations like design, applications, performance, efficiency, interoperability, usage scenarios, human device interaction and consequent trade-offs enabling wearables to impart optimal value.
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to offer disruptive APIs to developers.
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquired by Aditi Technologies. He is a Microsoft Regional Director for Hyderabad, India, and one of the f...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps 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 today!
So I guess we’ve officially entered a new era of lean and mean. I say this with the announcement of Ubuntu Snappy Core, “designed for lightweight cloud container hosts running Docker and for smart devices,” according to Canonical. “Snappy Ubuntu Core is the smallest Ubuntu available, designed for security and efficiency in devices or on the cloud.” This first version of Snappy Ubuntu Core features secure app containment and Docker 1.6 (1.5 in main release), is available on public clouds, and for ARM and x86 devices on several IoT boards. It’s a Trend! This announcement comes just as...
In 2015, 4.9 billion connected "things" will be in use. By 2020, Gartner forecasts this amount to be 25 billion, a 410 percent increase in just five years. How will businesses handle this rapid growth of data? Hadoop will continue to improve its technology to meet business demands, by enabling businesses to access/analyze data in real time, when and where they need it. Cloudera's Chief Technologist, Eli Collins, will discuss how Big Data is keeping up with today's data demands and how in the future, data and analytics will be pervasive, embedded into every workflow, application and infra...
The best mobile applications are augmented by dedicated servers, the Internet and Cloud services. Mobile developers should focus on one thing: writing the next socially disruptive viral app. Thanks to the cloud, they can focus on the overall solution, not the underlying plumbing. From iOS to Android and Windows, developers can leverage cloud services to create a common cross-platform backend to persist user settings, app data, broadcast notifications, run jobs, etc. This session provides a high level technical overview of many cloud services available to mobile app developers, includi...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that Ciqada will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Ciqada™ makes it easy to connect your products to the Internet. By integrating key components - hardware, servers, dashboards, and mobile apps - into an easy-to-use, configurable system, your products can quickly and securely join the internet of things. With remote monitoring, control, and alert messaging capability, you will meet your customers' needs of tomorrow - today! Ciqada. Let your products take flight. For more inform...
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.
GENBAND introduced its Real Time Communications (RTC) Client for Lync* to seamlessly combine real-time communications with Lync Instant Messaging (IM) and Presence. “We’re shaking up the economics of delivering Unified Communications (UC) and offering a compelling way to integrate previously bespoke communications technologies,” said Carl Baptiste, GENBAND’s Senior Vice President, Enterprise Solutions. “We’re offering enterprises the best of both worlds by combining our own high availability voice, video and collaboration with Lync’s IM and Presence; creating a single, web centric, client. O...
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
SYS-CON Events announced today that SoftLayer, an IBM company, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015 at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place November 3–5, 2015 at the Santa Clara Convention Center in Santa Clara, CA. SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from ...
SYS-CON Events announced today that BroadSoft, the leading global provider of Unified Communications and Collaboration (UCC) services to operators worldwide, has been named “Gold Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BroadSoft is the leading provider of software and services that enable mobile, fixed-line and cable service providers to offer Unified Communications over their Internet Protocol networks. The Company’s core communications platform enables the delivery of a range of enterprise and consumer calling...