Welcome!

Virtualization Authors: Carmen Gonzalez, Avi Rosenthal, John Wetherill, Kathy Thomas, Elizabeth White

News Feed Item

EZChip Announces Fourth Quarter and Full Year 2012 Results

YOKNEAM, Israel, February 13, 2013 /PRNewswire/ --

EZchip Semiconductor Ltd. (NASDAQ: EZCH), a leader in Ethernet network processors, today announced its results for the fourth quarter and full year ended December 31, 2012.

Fourth Quarter and Full Year 2012 Highlights:

  • Annual revenues for 2012 of $54.7 million
  • Fourth quarter revenues of $15.2 million
  • Fourth quarter gross margin reached 83.2% on a GAAP basis and 83.7% on a non-GAAP basis
  • Net income, on a GAAP basis, was $15.7 million for 2012 and $4.8 million for the fourth quarter
  • Net income, on a non-GAAP basis, was $27.1 million for 2012 (49% of revenues) and $7.8 million for the fourth quarter (51% of revenues)
  • Non-GAAP operating cash flow of $29.2 million for 2012 and $7.1 million for the fourth quarter
  • Net cash at end of 2012 was $168.0 million  

Fourth Quarter 2012 Results:

Total revenues in the fourth quarter of 2012 were $15.2 million, an increase of 7% compared to $14.3 million in the fourth quarter of 2011, and an increase of 64% compared to $9.3 million in the third quarter of 2012.

Net income, on a GAAPbasis, for the fourth quarter of 2012 was $4.8 million, or $0.17 per share (diluted), compared to net loss of $6.0 million, which included a one-time charge due to early repayment of $9.9 million to the Israeli Office of Chief Scientist (OCS), or $0.22 per share, in the fourth quarter of 2011, and net income of $0.1 million, or $0.00 per share (diluted), in the third quarter of 2012.

Net income, on a non-GAAP basis, for the fourth quarter of 2012 was $7.8 million, or $0.26 per share (diluted), compared to non-GAAP net income of $6.3 million, or $0.22 per share (diluted), in the fourth quarter of 2011, and non-GAAP net income of $3.1 million, or $0.10 per share (diluted), in the third quarter of 2012.

Full Year 2012 Results:

Total revenues for the year ended December 31, 2012 were $54.7 million, a year-over-year decrease of 14% compared to $63.5 million in 2011.

Net income on a GAAP basis for 2012 was $15.7 million, or $0.54 per share (diluted), compared to net income of $7.9 million, or $0.28 per share (diluted), in 2011.

Net income on a non-GAAP basis for 2012 was $27.1 million or $0.92 per share (diluted), compared with non-GAAP net income of $31.0 million, or $1.09 per share (diluted), in 2011.

Cash, cash equivalents, marketable securities and deposits as of December 31, 2012, totaled $168.0 million, compared to $160.1 million as of September 30, 2012 and compared to $126.8 million as of December 31, 2011. Cash generated from operations was $7.1 million for the fourth quarter and $29.2 million for the year, cash used in investing activities was $0.2 million for the fourth quarter and $1.5 million for the year, cash provided by financing activities (resulting from the exercise of options) was $1.0 million for the fourth quarter and $12.9 million for the year and an additional $0.6 million increase resulted from unrealized gains in marketable securities during 2012.

Eli Fruchter, CEO of EZchip, commented, "2012 was another transition year for EZchip. First, we completed the transition to Cisco becoming our largest customer, with all revenues being royalty-based, thereby increasing our gross margins to 84% and maintaining our outstanding 49% net margin in line with the net margin we achieved in 2010 and 2011. Second, we transitioned to NP-4, which surpassed the NP-3 run rate in its first full production year, and became our largest revenue generator. Finally, we laid the foundation for the NPS line of network processors for smart networks that will target both next-generation edge routers and data centers, and we believe could double our total available market.

"Of our five major NP-4 customers, two are in production and two entered production at the end of the third quarter and have placed initial production orders. The fifth customer, Huawei, is also expected to enter production in the first quarter; however, it has not yet placed any production orders and we believe Huawei may proceed to offer a lower-end in-house solution in parallel to the high-end NP-4 solution. 

"Looking ahead, we believe that high-end NPUs, such as the NP-4, are required for high-end edge routers to be competitive. Therefore, based on the success of our customer products in the marketplace and the level of carriers' investment in Internet infrastructure, we believe NP-4 can significantly increase our revenues in the next few years. As for this year, we expect year-over-year growth in both Q1 and 2013, also when compared with 2011."

Conference Call

The Company will be hosting a conference call later today, February 13, 2013, at 10:00am ET, 7:00am PT, 3:00pm UK time and 5:00pm Israel time. On the call, management will review and discuss the results, and will be available to answer investor questions.

To participate through the live webcast, please access the investor relations section of the Company's web site at: http://www.ezchip.com/investor_relations.htm, at least 10 minutes before the conference call commences. If you would like to ask a question on the call, please contact the investor relations team for the telephone dial in numbers.

For those unable to listen to the live webcast, a replay of the webcast will be available the day after the call under the 'Investor Relations' section of the website.

Use of Non-GAAP Financial Information

In addition to disclosing financial results calculated in accordance with United States generally accepted accounting principles (GAAP), this release of operating results also contains non-GAAP financial measures, which EZchip believes are the principal indicators of the operating and financial performance of its business. The non-GAAP financial measures exclude the effects of stock-based compensation expenses recorded in accordance with FASB ASC 718, amortization of intangible assets, one-time charge due to early repayment of OCS grants and taxes on income.  Management believes the non-GAAP financial measures provided are useful to investors' understanding and assessment of the Company's on-going core operations and prospects for the future, as the charges eliminated are not part of the day-to-day business or reflective of the core operational activities of the Company.  Management uses these non-GAAP financial measures as a basis for strategic decisions, forecasting future results and evaluating the Company's current performance.  However, such measures should not be considered in isolation or as substitutes for results prepared in accordance with GAAP.  Reconciliation of the non-GAAP measures to the most comparable GAAP measures are provided in the schedules attached to this release.

About EZchip

EZchip is a fabless semiconductor company that provides Ethernet network processors for networking equipment. EZchip provides solutions that scale from a few to hundreds of Gigabits-per-second. EZchip's network processors provide great flexibility and high performance coupled with superior integration and power efficiency for a wide range of applications in carrier, cloud and data center network equipment.  For more information on our company, visit the web site at http://www.ezchip.com.

This press release contains 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.  Forward-looking statements are statements that are not historical facts and may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance.  These statements are only predictions based on EZchip's current expectations and projections about future events.  There are important factors that could cause EZchip's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements.  Those factors include, but are not limited to, the impact of general economic conditions, competitive products, product demand and market acceptance risks, customer order cancellations, reliance on key strategic alliances, fluctuations in operating results, delays in development of highly-complex products and other factors indicated in EZchip's filings with the Securities and Exchange Commission (SEC).  For more details, refer to EZchip's SEC filings and the amendments thereto, including its Annual Report on Form 20-F filed on March 29, 2012 and its Current Reports on Form 6-K. EZchip undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in our expectations, except as may be required by law.

                                 EZchip Semiconductor Ltd.
                      Condensed Consolidated Statements of Operations
                   (U.S. Dollars in thousands, except per share amounts)
                                        (Unaudited)

                                 Three Months Ended                 Twelve Months Ended
                         ________________________________________________________________
                         December     September      December      December      December
                            31,           30,           31,           31,           31,
                           2012          2012          2011          2012          2011
                         ________     _________     _________     __________    _________

    Revenues            $ 15,207       $ 9,287      $ 14,269      $ 54,707      $ 63,457
    Cost of
    revenues               2,555         1,497         3,386         9,118        14,409
    Amortization
    of purchased
    technology                --            --            --            --           597
    Repayment of
    OCS grants                --            --         9,938            --         9,938
                         _________    _________     _________      _________    _________

    Gross profit          12,652         7,790           945        45,589        38,513
    Operating
    expenses:
    Research and
    development,
    net                    5,180         5,182         4,352        19,736        16,695
    Selling,
    general and
    administrative         3,220         3,047         3,097        12,634        12,059
                         _________    _________     _________      _________    _________
    Total
    operating                                                       32,370        28,754
    expenses               8,400         8,229         7,449

    Operating              4,252         (439)       (6,504)        13,219         9,759
    income (loss)
    Financial
    income, net              587           566           551         2,432         1,713
                         _________    _________     _________      _________    _________
    Income (loss)
    before taxes           4,839           127       (5,953)        15,651        11,472
                         =========    =========     =========      =========    =========

    Taxes on
    income                    --           --            --             --       (3,530)
    Net income
    (loss)               $ 4,839         $ 127     $ (5,953)      $ 15,651       $ 7,942
    Net income
    (loss) per
    share:
    Basic                 $ 0.17        $ 0.00      $ (0.22)        $ 0.56        $ 0.30
    Diluted               $ 0.17        $ 0.00      $ (0.22)        $ 0.54        $ 0.28
    Weighted
    average shares
    used in per
    share
    calculation:
    Basic             28,233,299    28,119,713    27,015,478    27,981,243    26,681,749
    Diluted           28,869,499    28,748,784    27,015,478    28,842,408    28,001,428
                      __________    __________    __________    __________    __________


                                 EZchip Semiconductor Ltd.
                        Reconciliation of GAAP to Non-GAAP Measures
                   (U.S. Dollars in thousands, except per share amounts)
                                        (Unaudited)

                                   Three Months Ended                Twelve Months Ended
                          ________________________________________________________________
                          December     September      December      December      December
                             31,           30,           31,           31,           31,
                            2012          2012          2011          2012          2011
                          _________    _________      _________     _________     _________

    GAAP gross
    profit              $ 12,652       $ 7,790         $ 945      $ 45,589      $ 38,513
    Stock-based
    compensation              74            73            73           298           359
    Amortization
    of purchased
    technology                --            --            --            --           597
    Repayment of
    OCS grants*               --            --         9,938            --         9,938

    Non-GAAP gross
    profit              $ 12,726       $ 7,863      $ 10,956      $ 45,887      $ 49,407
                         _________      _________    _________      _________     _________

    GAAP gross
    profit as
    percentage of
    revenues               83.2%         83.9%          6.6%         83.3%         60.7%
    Non-GAAP gross
    profit as
    percentage of
    revenues               83.7%         84.7%         76.8%         83.9%         77.9%
                         _________      __________   _________      _________     _________

    GAAP operating
    expenses             $ 8,400       $ 8,229       $ 7,449      $ 32,370      $ 28,754
    Stock-based
    compensation:
    Research and
    development          (1,563)       (1,557)       (1,094)       (6,026)       (4,446)
    Selling,
    general and
    administrative       (1,265)       (1,249)       (1,051)       (4,874)       (3,801)
    Amortization
    of intangible
    assets
    Selling,
    general and
    administrative          (51)          (51)          (95)         (204)         (380)

    Non-GAAP
    operating
    expenses             $ 5,521       $ 5,372       $ 5,209      $ 21,266      $ 20,127
                         _________     _________     _________    _________     _________

    GAAP operating
    income (loss)        $ 4,252       $ (439)     $ (6,504)      $ 13,219       $ 9,759

    Non-GAAP
    operating
    income               $ 7,205       $ 2,491       $ 5,747      $ 24,621      $ 29,280
                         _________     _________     _________    _________     _________

    GAAP net
    income (loss)        $ 4,839         $ 127     $ (5,953)      $ 15,651       $ 7,942
    Stock-based
    compensation           2,902         2,879         2,218        11,198         8,606
    Amortization
    of purchased
    intangible
    assets                    51            51            95           204           977
    Repayment of
    OCS grants*               --            --         9,938            --         9,938
    Taxes on
    income**                  --            --            --            --         3,530
                         _________     _________     _________    _________     _________
    Non-GAAP net
    income               $ 7,792       $ 3,057       $ 6,298      $ 27,053      $ 30,993
                         _________     _________     _________    _________     _________

    Non-GAAP net
    income per
    share -
    Diluted               $ 0.26        $ 0.10        $ 0.22        $ 0.92        $ 1.09
    Non-GAAP
    weighted
    average shares
    - Diluted***      29,634,765    29,588,230    28,605,559    29,473,851    28,432,175


* During December 2011 we made a one-time early payment of $9.9 million to the Israeli Office of Chief Scientist, representing the full balance of the contingent liability related to the NP-4 and NPA grants received. Upon making this payment, we have eliminated all future royalty obligations related to our anticipated NP-4 and NPA revenues and saved the associated future interest payments related to such obligations. This amount was excluded from the non-GAAP statements of operations as it represents future royalty obligations.

** Taxes on income represent the non-cash utilization of a deferred tax asset with respect to the Company's estimate of its accumulated taxable income in accordance with FASB ASC 740. During 2011, EZchip Technologies, the Company's main subsidiary completed the utilization of the deferred tax asset, and started to enjoy the ten year period of exemption from Israeli corporate taxes due to benefits provided pursuant to its Israeli approved and privileged enterprise programs.

*** In calculating diluted non-GAAP net income per share, the diluted weighted average number of shares outstanding excludes
the effects of stock-based compensation expenses in accordance with FASB ASC 718.

                            EZchip Semiconductor Ltd.
           Selected Condensed Consolidated Cash Flow Data on a Non-GAAP
                                      Basis
                           (U.S. Dollars in thousands)
                                   (Unaudited)

                            Three Months Ended            Twelve Months Ended
                     _________________________________________________________
                     December    September    December    December    December
                       31,          30,         31,         31,         31,
                       2012        2012         2011        2012        2011
                     _________   _________    _________   _________   _________

    Cash flows
    from
    operating
    activities:
    Net income
    (loss)            $ 4,839        $ 127    $ (5,953)    $ 15,651     $ 7,942
    Adjustments
    to reconcile
    net income
    (loss) to net
    cash provided
    by operating
    activities:
    Repayment of
    OCS grants*            --           --       9,938           --       9,938
    Depreciation
    and
    amortization          183          178         163          661       1,227
    Decrease
    (increase) in
    trade and
    other
    receivables,
    net                (1,878)       2,991       1,113        1,870        (621)
    Decrease
    (increase) in
    inventory             948          521         259        1,265      (1,266)
    Decrease in
    deferred tax
    asset                  --           --          --           --       3,513
    Increase
    (decrease) in
    trade
    payables and
    other accrued
    liabilities,
    net                   138         (585)      1,213       (1,400)       (494)
    Stock-based
    compensation
                        2,902        2,879       2,218       11,198       8,606
    Net cash
    provided by
    operating          _________    _________   _________   _________    _________
    activities          7,132        6,111       8,951       29,245      28,845
                       _________    _________   _________   _________    _________

    Cash flows
    from
    investing
    activities:
    Purchase of
    property and       _________    _________   _________   _________    _________
    equipment            (239)         (95)        (97)      (1,008)       (411)
    Purchase of        _________    _________   _________   _________    _________
    technology
                           --           --        (500)        (500)       (500)
    Net cash used
    in investing
    activities           (239)         (95)       (597)      (1,508)       (911)

    Cash flows
    from
    financing
    activities:
    Proceeds from
    exercise of
    options
                        1,027           96         711       12,890       8,082
    Net cash
    provided by
    financing          _________   _________   _________   _________    _________
    activities          1,027           96         711       12,890       8,082
                       _________   _________   _________   _________    _________

    Repayment of
    OCS grants*            --           --      (9,938)          --      (9,938)
    Unrealized
    gain (loss)
    on marketable
    securities,
    net                   (33)         205           6          571        (618)
                       _________   _________   _________   __________   _________

    Increase
    (decrease) in
    cash, cash
    equivalents,
    marketable
    securities
    and deposits
                        7,887        6,317        (867)      41,198      25,460
    Cash, cash
    equivalents,
    marketable
    securities
    and deposits
    at the
    beginning of
    the period        160,081      153,764     127,637      126,770     101,310
    Cash, cash
    equivalents,
    marketable
    securities
    and deposits
    at the end of
    the period      _________    _________   __________   _________   _________
                    $ 167,968    $ 160,081   $ 126,770    $ 167,968   $ 126,770
                    =========    =========   ==========   =========   =========



* During December 2011 we made a one-time early payment of $9.9 million to the Israeli Office of Chief Scientist, representing the full balance of the contingent liability related to the NP-4 and NPA grants received. Upon making this payment, we have eliminated all future royalty obligations related to our anticipated NP-4 and NPA revenues and saved the associated future interest payments related to such obligations. This amount was excluded from the non-GAAP operating cash flow as it represents future royalty obligations.

Contact:
Ehud Helft / Kenny Green
CCG Investor Relations
[email protected]
Tel: (US) +1-646-201-9246

SOURCE EZchip Semiconductor 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
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
“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.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

SYS-CON Events announced today that IDenticard 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. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, 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. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.