Welcome!

Microsoft Cloud Authors: Pat Romanski, Srinivasan Sundara Rajan, Glenn Rossman, Janakiram MSV, Steven Mandel

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
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of (at least) three separate application components: the software embedded in the device, the back-end service, and the mobile application for the end user’s controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target –...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
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...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.