|By Business Wire||
|August 7, 2014 04:01 PM EDT||
PCM, Inc. (NASDAQ: PCMI), a leading technology solutions provider, today reported financial results for the second quarter of 2014. Consolidated net sales in Q2 2014 were $339.6 million, a decrease of $15.9 million, or 4%, from $355.5 million in Q2 2013. Consolidated gross profit for Q2 2014 was $48.6 million, a decrease of $1.4 million, or 3%, from $50.0 million in Q2 2013. Consolidated gross profit margin was 14.3% in Q2 2014 compared to consolidated gross profit margin of 14.1% in Q2 2013. EBITDA (as defined below) for Q2 2014 decreased $2.8 million, or 30%, to $6.6 million from $9.4 million in Q2 2013. Consolidated operating profit for Q2 2014 decreased $2.8 million, or 42%, to $3.9 million compared to $6.7 million for Q2 2013. Consolidated income from continuing operations decreased $1.5 million, or 45%, to $1.8 million in Q2 2014 compared to $3.4 million for Q2 2013. Consolidated net income (including discontinued operations) decreased $2.0 million, or 64%, to $1.1 million in Q2 2014 compared to $3.2 million for Q2 2013. Diluted EPS from continuing operations for Q2 2014 was $0.14 compared to diluted EPS from continuing operations of $0.29 for Q2 2013, a decrease of 52%.
Commenting on the Company’s results, Frank Khulusi, Chairman, President and CEO of PCM, Inc. said, “Our second quarter results were in line with our previously stated expectations for the quarter primarily due to difficult year over year comparisons (for example, our public sector business grew 71% in Q2 last year over the prior year), the timing of certain large transactions last year that did not repeat and the strategic investments we made in the second quarter, which we believe will benefit our near and long term performance. We also continue to expect that our sales growth in each of the third and fourth quarters will be strong, and our July demand was consistent with that expectation.”
Khulusi continued, “We continue with our strategic efforts to transform our Company from PC Mall, which was primarily known as a direct marketer of personal computers and related products, to PCM, a leading IT solutions provider with world-class capabilities in ‘procurement, consulting and managed services’ (PCM). This is a journey, not an event, the primary goals of which are to achieve much more relevance, loyalty, and penetration with both new and existing customers, resulting in significant improvement to our profitability. As we continue on this path, these improvements may not manifest themselves every quarter, but overall, the trend line is very solid. In the second quarter, we entered the next phase of this transformation. To that end, we made strategic and significant additions in headcount in our technical resources and sales force with the goal of accelerating our sales growth beginning in the second half of 2014.”
Khulusi continued, “I am also very happy to say that late in the second quarter we opened our new flagship cloud data center in New Albany, Ohio as expected. We believe this state-of-the-art cloud data center further exemplifies our path towards becoming a leading IT solutions provider with world-class consulting and managed services capabilities. Increasingly, we are engaging with our customers to design, build and deliver leading complex technology services and solutions. We believe this positions us very well for customers who are exploring ways to move to a utility consumption model for their infrastructure as they seek to optimize their own IT environments. We will continue to look for ways to accelerate our growth in these areas, including the development of additional capabilities and the provisioning and development of tools that better enable our account executives to engage their customers in thoughtful conversations related to these services.”
Khulusi continued, “As a further step towards this transformation, in the second quarter we closed and walked away from our OnSale and eCost businesses and two of our four MacMall retail stores. In the third quarter, we intend to close a third store and just entered into a definitive agreement for the sale of the real property of our last remaining retail store for $20.2 million, subject to diligence and closing conditions. The book value of this real property is only $4.4 million, so we expect to have a significant gain north of $15 million upon closing. We intend to shut down the operations of this last retail store upon consummation of this sale. We expect these strategic changes will significantly simplify our MacMall segment allowing us to increase our focus on its remaining web and outbound business-to-business components.”
Khulusi concluded, “In closing, we are committed to the ongoing transformation of PCM that we have discussed and have and continue to make significant investments towards this end. We look forward to our resulting prospects for significant future profitable growth and very significant increases in shareholder value.”
Results of Operations
During the second quarter of 2014, we discontinued the operation of two of our retail stores and our OnSale and eCost businesses. We reflected the results of these operations, which were historically reported as a part of our MacMall segment, as discontinued operations for all periods presented herein on our Consolidated Statements of Operations and Consolidated Balance Sheets.
The following table presents our net sales by segment for the periods presented (in thousands):
|Three Months Ended June 30,|
|Percentage of||Percentage of||Percent|
|Net Sales||Total Net Sales||Net Sales||Total Net Sales||Dollar Change||Change|
|Corporate & Other||(7||)||—||(1||)||—||(6||)||NM(1)|
Consolidated net sales were $339.6 million in Q2 2014 compared to $355.5 million in Q2 2013, a decrease of $15.9 million, or 4%. Consolidated sales of services were 9% of net sales in each of Q2 2014 and Q2 2013.
Commercial net sales were $256.4 million in Q2 2014 compared to $257.4 million in Q2 2013, a decrease of $1.0 million. The decrease in Commercial net sales in Q2 2014 was primarily due to the non-recurrence of projects for certain large enterprise customers as compared to the prior year. Sales of services in the Commercial segment were 11% of Commercial net sales in Q2 2014 and 12% in Q2 2013.
Public Sector net sales were $50.9 million in Q2 2014 compared to $61.2 million in Q2 2013, a decrease of $10.3 million, or 17%. This decrease in Public Sector net sales was due to a $11.5 million decrease in sales in our federal government business, primarily related to a reduction in sales made under our Social Security Administration and FBI contracts due to its unseasonably strong Q2 of 2013, which at the time grew 218% over Q2 2012, partially offset by an increase of $1.2 million in our state and local government and educational institutions business (SLED) resulting from increased account executive productivity in part related to the Common Core standards initiatives in the education sector.
MacMall net sales were $32.4 million in Q2 2014 compared to $36.9 million in Q2 2013, a decrease of $4.5 million, or 12%. The decrease in MacMall net sales was primarily due to a reduction in sales of MacBook Pro units, which were negatively impacted by pricing pressure from large online and retail competitors, partially offset by increases in Apple iMacs and MacBook Airs.
Gross Profit and Gross Profit Margin
Consolidated gross profit was $48.6 million in Q2 2014, a decrease of $1.4 million, or 3%, from $50.0 million in Q2 2013. Consolidated gross profit margin grew to 14.3% in Q2 2014 from 14.1% in Q2 2013. The decrease in gross profit was primarily related to the decreased sales. The increase in gross profit margin in Q2 2014 was primarily due to an improved solution sales mix, which contributed to an increase in vendor consideration, and increased agent fees associated with sales of enterprise software agreements.
Selling, General & Administrative Expenses
Consolidated SG&A expenses were $44.8 million in Q2 2014 compared to $43.4 million in Q2 2013, an increase of $1.4 million, or 3%. Consolidated SG&A expenses as a percentage of net sales increased to 13.2% in Q2 2014 from 12.2% in Q2 2013. The increase in consolidated SG&A expenses in Q2 2014 was primarily due to a $0.4 million increase in personnel costs and a $0.3 million increase in professional services fees.
The following table presents our operating profit and operating profit margin by segment for the periods presented (in thousands):
|Three Months Ended|
|Corporate & Other||(12,654||)||(3.7||
|(1)||Operating profit margin for Corporate & Other is computed based on consolidated net sales. Operating profit margin for each of the other segments is computed based on the respective segment’s net sales.|
Consolidated operating profit was $3.9 million in Q2 2014 compared to $6.7 million in Q2 2013, a decrease of $2.8 million, or 42%.
Commercial operating profit was $14.2 million in Q2 2014 compared to $17.0 million in Q2 2013, a decrease of $2.8 million, or 16%, primarily due to a $0.6 million decrease in Commercial gross profit and increased personnel costs of $1.6 million, which was primarily due to investments including software, technical solutions and sales personnel supporting our future growth initiatives, including our new office in Austin, Texas.
Public Sector operating profit was $2.0 million in Q2 2014 compared to $1.8 million in Q2 2013, an increase of $0.2 million, or 16%. This increase in Public Sector operating profit in Q2 2014 was primarily due to lower variable fulfillment costs.
MacMall operating profit was $0.3 million in Q2 2014 compared to $1.0 million in Q2 2013, a decrease of $0.7 million, primarily due to a decrease in MacMall gross profit associated with the reduction in sales.
Corporate & Other operating expenses include corporate related expenses such as legal, accounting, information technology, product management and certain other administrative costs that are not otherwise included in our reportable operating segments. Corporate & Other operating expenses were $12.7 million in Q2 2014 compared to $13.1 million in Q2 2013, a decrease of $0.4 million, or 4%, primarily due to reduced personnel costs of $0.9 million, partially offset by a $0.3 million increase in depreciation expense.
Consolidated Balance Sheet and Cash Flow
We generated cash flow from operations for the six months ended June 30, 2014 of $61.6 million, compared to cash used in operations for the six months ended June 30, 2013 of $10.4 million. Accounts receivable at June 30, 2014 was $173.1 million, a decrease of $22.7 million from December 31, 2013. Inventory at June 30, 2014 was $49.5 million, a decrease of $65.8 million from December 31, 2013 due to the sell through of a majority of the inventory purchased for specific customer contracts and large strategic purchases made near the end of the year. Accounts payable at June 30, 2014 was $95.5 million, a decrease of $35.4 million from December 31, 2013. We invested in capital expenditures during the six months ended June 30, 2014 totaling $9.4 million compared to capital expenditures of $5.7 million during the six months ended June 30, 2013. The increase in capital expenditures during the six months ended June 30, 2014 was primarily due to leasehold improvements and other build-out costs related to our new Chicago and Austin offices, as well as increased costs associated with our ERP upgrade. Outstanding borrowings under our line of credit decreased by $57.8 million to $52.7 million at June 30, 2014 compared to December 31, 2013. Working capital increased to $62.6 million at June 30, 2014 from $57.6 million at December 31, 2013.
Account Executive Headcount
The following table presents our average account executive headcount, by segment, for the periods presented:
Three Months Ended
|Average Account Executive||
|Headcount By Segment(1):||
|(1)||Headcount numbers are calculated based on an average of all sales executives and trainees employed during the period.|
Product Sales Mix
The following table sets forth our net billed sales by major categories as a percentage of total net billed sales for the periods presented, determined based upon our internal product code classifications, and excluding the results of our discontinued operations, which are discussed above.
|Three Months Ended||Y/Y|
|Product Sales Mix:||2014||2013||Growth|
|Manufacturer service and warranty (1)||5||5||2|
|(1)||Software, including software licenses, maintenance and enterprise agreements, and manufacturer service and warranties are shown, for purposes of this table, on a gross sales billed to customers basis, net of returns and do not reflect the net down impact related to revenue recognition for sales of such products.|
|(2)||All other includes power, printers, supplies, consumer electronics, memory, iPod/MP3 and miscellaneous other items.|
We are presenting earnings before interest, taxes, depreciation and amortization expenses (EBITDA), which is a financial measure that is not determined in accordance with accounting principles generally accepted in the United States of America, or GAAP. EBITDA should be used in conjunction with other GAAP financial measures and is not presented as an alternative measure of operating results, as determined in accordance with GAAP. We believe that EBITDA allows a more meaningful comparison of our operating performance trends to both management and investors that is more indicative of our consolidated operating results across reporting periods. Depreciation and amortization expenses primarily represent an allocation to current expense of the cost of historical capital expenditures and for acquired intangible assets resulting from prior business acquisitions. A reconciliation of the non-GAAP consolidated financial measure is included in a table below.
Management will hold a conference call, which will be webcast, on August 7, 2014 at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss its second quarter results. To listen to PCM management’s discussion of its second quarter results live, access http://investor.pcm.com/events.cfm.
The archived webcast can be accessed at www.investor.pcm.com under “Events & Presentations.” A replay of the conference call by phone will be available from 7:30 p.m. ET on August 7, 2014 until August 13, 2014 and can be accessed by calling (855) 859-2056 (International (404) 537-3406) and inputting pass code 82233137.
About PCM, Inc.
PCM, Inc., through its wholly-owned subsidiaries, is a leading technology solutions provider to small and medium sized businesses, mid-market and enterprise customers, government and educational institutions and individual consumers. In the 12 months ended June 30, 2014, we generated approximately $1.4 billion in revenue and now have over 2,800 employees, 65% of which are in sales or service positions. For more information please visit investor.pcm.com or call (310) 354-5600.
This press release may contain 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. Such forward-looking statements include statements regarding our expectations, hopes or intentions regarding the future, including but not limited to, statements related to the impact of strategic investments; statements regarding our relevance, loyalty and penetration with our customers; statements regarding our beliefs related to our positioning with our customers; and statements regarding the impacts of discontinuing operations on the future of our continuing operations. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Factors that could cause our actual results to differ materially include without limitation risks and uncertainties related to the following: our IT infrastructure; the relationship between the number of our account executives and productivity; our ability to attract and retain key employees; our ability to receive expected returns on strategic investments including without limit investments in certain product categories, our brands and new go to market strategy, our expanded business models, including without limit, our services and consultative selling capabilities and new data center; decreased sales related to any of our segments, including but not limited to, potential decreases in sales resulting from the loss of or a reduction in purchases from significant customers; availability of key vendor incentives and other vendor assistance; possible discontinuance of IT licenses used to operate our business which are provided by vendors; increased competition, including, but not limited to, increased competition from direct sales by some of our largest vendors and increased pricing pressures which affect our pricing strategy in any given period; the effect of our pricing strategy on our operating results; potential decreases in sales related to changes in our vendors products; the potential lack of availability of government funding applicable to our PCMG contracts; the impact of seasonality on our sales; availability of products from third party suppliers at reasonable prices; business and other conditions in the Asia Pacific region and the related effects on our Philippines operations; increased expenses, including, but not limited to, interest expense, foreign currency transaction gains/losses, and other expenses which may increase as a result of future inflationary pressures; our advertising, marketing and promotional efforts may be costly and may not achieve desired results; shifts in market demand or price erosion of owned inventory; risks related to foreign currency fluctuations; warranties and indemnities we may be required to provide to third parties through our commercial contracts; data security; litigation by or against us; and availability of financing, including availability under our existing credit lines. Additional factors that could cause our actual results to differ are discussed under the heading “Risk Factors” in Item 1A, Part II of our Form 10-Q for the period ended March 31, 2014, on file with the Securities and Exchange Commission, and in our other reports filed from time to time with the SEC. All forward-looking statements in this document are made as of the date hereof, based on information available to us as of the date hereof, and we assume no obligation to update any forward-looking statements.
-Financial Tables Follow-
|CONSOLIDATED STATEMENTS OF OPERATIONS|
|(unaudited, in thousands, except per share amounts)|
|Three Months Ended||Six Months Ended|
|June 30,||June 30,|
|Cost of goods sold||290,985||305,463||572,189||582,705|
|Selling, general and administrative expenses||44,758||43,379||88,168||85,572|
|Interest expense, net||750||781||1,693||1,553|
|Income from continuing operations before income taxes||3,131||5,874||8,296||8,277|
|Income tax expense||1,293||2,502||3,430||3,496|
|Income from continuing operations||1,838||3,372||4,866||4,781|
|Loss from discontinued operations, net of taxes||(692||)||(209||)||(833||)||(382||)|
|Basic and Diluted Earnings Per Common Share|
|Income from continuing operations||$||0.15||$||0.30||$||0.40||$||0.41|
|Loss from discontinued operations, net of taxes||(0.06||)||(0.02||)||(0.07||)||(0.03||)|
|Income from continuing operations||$||0.14||$||0.29||$||0.37||$||0.40|
|Loss from discontinued operations, net of taxes||(0.05||)||(0.02||)||(0.06||)||(0.03||)|
|Weighted average number of common shares outstanding:|
|RECONCILIATION OF NON-GAAP FINANCIAL MEASURE TO|
|CONSOLIDATED OPERATING PROFIT|
|(unaudited, in thousands)|
|Three Months Ended||Six Months Ended|
|June 30,||June 30,|
|Consolidated operating profit||$||3,881||$||6,655||$||9,989||$||9,830|
|Add: Consolidated depreciation expense||2,637||2,278||5,132||4,587|
|Consolidated amortization expense||84||470||172||941|
|(a)||EBITDA — earnings from continuing operations before interest, taxes, depreciation and amortization.|
|CONSOLIDATED BALANCE SHEETS|
|(unaudited, in thousands, except per share amounts and share data)|
|June 30,||December 31,|
|Cash and cash equivalents||$||6,669||$||9,992|
|Accounts receivable, net of allowances of $566 and $1,408||173,095||195,805|
|Prepaid expenses and other current assets||30,523||14,893|
|Deferred income taxes||2,424||2,583|
|Current assets of discontinued operations||277||1,973|
|Total current assets||262,458||340,507|
|Property and equipment, net||70,134||55,840|
|Deferred income taxes||135||225|
|Intangible assets, net||4,513||4,684|
|Non-current assets of discontinued operations||14||1,248|
|LIABILITIES AND STOCKHOLDERS’ EQUITY|
|Accrued expenses and other current liabilities||27,718||29,204|
|Line of credit||52,652||110,499|
|Notes payable — current||2,906||1,167|
|Current liabilities of discontinued operations||981||1,716|
|Total current liabilities||199,900||282,912|
|Notes payable and other long-term liabilities||26,657||18,247|
|Deferred income taxes||7,599||7,901|
|Commitments and contingencies|
|Preferred stock, $0.001 par value; 5,000,000 shares authorized; none issued and outstanding||—||—|
Common stock, $0.001 par value; 30,000,000 shares authorized; 15,674,622 and 15,053,067 shares issued; and 12,369,363 and 11,790,674 shares outstanding
|Additional paid-in capital||119,677||115,801|
|Treasury stock, at cost: 3,305,259 and 3,262,393 shares||(15,751||)||(15,321||)|
|Accumulated other comprehensive income||1,794||1,816|
|Total stockholders’ equity||133,220||125,762|
|Total liabilities and stockholders’ equity||$||367,376||$||434,822|
|CONSOLIDATED STATEMENTS OF CASH FLOWS|
|(unaudited, in thousands)|
|Six Months Ended|
|Cash Flows From Operating Activities|
|Adjustments to reconcile net income to net cash provided by (used in) operating activities:|
|Depreciation and amortization||6,485||5,897|
|Provision for deferred income taxes||379||726|
|Excess tax benefit related to stock option exercises||(269||)||(37||)|
|Non-cash stock-based compensation||635||783|
|Change in operating assets and liabilities:|
|Prepaid expenses and other current assets||(15,661||)||(8,532||)|
|Accrued expenses and other current liabilities||445||(717||)|
|Net cash provided by (used in) operating activities||61,554||(10,358||)|
|Cash Flows From Investing Activities|
|Purchases of property and equipment||(9,372||)||(5,732||)|
|Net cash used in investing activities||(9,372||)||(5,732||)|
|Cash Flows From Financing Activities|
|Net (payments) borrowings under line of credit||(57,847||)||12,766|
|Capital lease proceeds||—||206|
|Borrowing under note payable||—||2,393|
|Payments under notes payable||(714||)||(458||)|
|Change in book overdraft||1,421||8,722|
|Payments of obligations under capital lease||(1,421||)||(1,431||)|
|Net proceeds from stock issued under stock option plans||3,242||1,399|
|Payment for deferred financing costs||(30||)||(752||)|
|Common shares repurchased and held in treasury||(430||)||(1,558||)|
|Excess tax benefit related to stock option exercises||269||37|
|Net cash (used in) provided by financing activities||(55,510||)||21,324|
|Effect of foreign currency on cash flow||5||(391||)|
|Net change in cash and cash equivalents||(3,323||)||4,843|
|Cash and cash equivalents at beginning of the period||9,992||6,535|
|Cash and cash equivalents at end of the period||$||6,669||$||11,378|
|Supplemental Cash Flow Information|
|Income taxes paid||5,688||1,820|
|Supplemental Non-Cash Investing and Financing Activities|
|Purchase of property and equipment||$||10,039||$||1,985|
|Deferred financing costs||—||228|
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
Feb. 19, 2017 01:15 PM EST Reads: 647
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Feb. 19, 2017 12:45 PM EST Reads: 964
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Feb. 19, 2017 11:45 AM EST Reads: 936
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
Feb. 19, 2017 11:30 AM EST Reads: 828
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Feb. 19, 2017 11:15 AM EST Reads: 1,637
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Feb. 19, 2017 11:15 AM EST Reads: 1,575
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buyers...
Feb. 19, 2017 11:00 AM EST Reads: 1,541
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...
Feb. 19, 2017 10:45 AM EST Reads: 7,625
While not quite mainstream yet, WebRTC is starting to gain ground with Carriers, Enterprises and Independent Software Vendors (ISV’s) alike. WebRTC makes it easy for developers to add audio and video communications into their applications by using Web browsers as their platform. But like any market, every customer engagement has unique requirements, as well as constraints. And of course, one size does not fit all. In her session at WebRTC Summit, Dr. Natasha Tamaskar, Vice President, Head of C...
Feb. 19, 2017 10:30 AM EST Reads: 6,519
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...
Feb. 19, 2017 09:45 AM EST Reads: 737
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, will discuss new ways of thinking and the approaches needed to address the emerging challenges of securit...
Feb. 19, 2017 09:45 AM EST Reads: 1,142
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business. Though, IoT is far more complex than most firms expected with a majority of IoT projects having failed. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, Chief IoTologist at Wipro, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology portfolios and business models to adopt and leverage IoT. He will delve in...
Feb. 19, 2017 09:15 AM EST Reads: 1,019
As cloud adoption continues to transform business, today's global enterprises are challenged with managing a growing amount of information living outside of the data center. The rapid adoption of IoT and increasingly mobile workforce are exacerbating the problem. Ensuring secure data sharing and efficient backup poses capacity and bandwidth considerations as well as policy and regulatory compliance issues.
Feb. 19, 2017 09:15 AM EST Reads: 1,558
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great dea...
Feb. 19, 2017 07:45 AM EST Reads: 1,662
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Feb. 19, 2017 07:30 AM EST Reads: 1,405
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Feb. 19, 2017 05:45 AM EST Reads: 4,722
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Feb. 19, 2017 05:00 AM EST Reads: 4,667
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Feb. 19, 2017 04:00 AM EST Reads: 10,974
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Feb. 19, 2017 03:00 AM EST Reads: 3,822
910Telecom exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and exchanges.
Feb. 19, 2017 02:30 AM EST Reads: 1,274