|By Business Wire||
|November 2, 2012 07:00 AM EDT||
hhgregg, Inc. (NYSE: HGG):
Three Months Ended
Six Months Ended
|(dollars in thousands, except per share data)|
|Net sales % (decrease) increase||(5.0)||%||28.6||%||2.6||%||14.5||%|
|Comparable store sales % (decrease) increase (1)||(8.8)||%||1.5||%||(7.2)||%||(5.0)||%|
|Gross profit as a % of net sales||29.6||%||28.6||%||29.8||%||29.2||%|
|SG&A as a % of net sales||21.4||%||20.6||%||22.7||%||22.0||%|
|Net advertising expense as a % of net sales||5.4||%||4.9||%||5.5||%||4.8||%|
|Depreciation and amortization expense as a % of net sales||1.7||%||1.3||%||1.8||%||1.5||%|
|Income (loss) from operations as a % of net sales||1.1||%||1.7||%||(0.2)||%||0.9||%|
|Net interest expense as a % of net sales||0.1||%||0.1||%||0.1||%||0.1||%|
|Net income (loss)||$||3,760||$||6,026||$||(1,940)||$||5,265|
|Net income (loss) per diluted share||$||0.11||$||0.16||$||(0.05)||$||0.13|
|Weighted average shares outstanding - diluted||35,291,269||38,097,564||35,685,482||39,021,215|
|Number of stores open at the end of period||223||204|
(1) Comprised of net sales at stores in operation for at least 14 full months, including remodeled and relocated stores, as well as net sales for the Company’s e-commerce site.
Indianapolis-based appliance and electronics retailer, hhgregg, Inc. (“hhgregg” or the “Company”) today reported net income of $3.8 million, or $0.11 per diluted share, for the three month period ended September 30, 2012, compared with net income of $6.0 million, or $0.16 per diluted share for the comparable prior year period. For the six month period ended September 30, 2012, the Company reported a net loss of ($1.9) million, or ($0.05) per diluted share, compared with net income of $5.3 million, or $0.13 per diluted share for the comparable prior year period. The decrease in net income for the three month period was the result of an 8.8% decrease in comparable store sales, an increase in net advertising expense as a percentage of net sales and an increase in SG&A expense as a percentage of net sales, partially offset by an increase in gross profit as a percentage of net sales and an increase in net sales due to the net addition of 19 stores during the past 12 months. The decrease in net income for the six month period was the result of a comparable store sales decrease of 7.2%, an increase in net advertising expense as a percentage of net sales and an increase in SG&A expense as a percentage of net sales, partially offset by an increase in gross profit as a percentage of net sales and an increase in net sales due to the net addition of 19 stores during the past 12 months.
Dennis May, President and CEO commented, “While the video category remained challenging across the industry in our second fiscal quarter, we were pleased with the early progress of strategic initiatives designed to enhance store productivity. While we improved our video sales mix to focus on larger screen televisions which improved our gross margin rate, we were disappointed by the amount of overall market share of televisions we lost. Over the next few quarters we will continue to refine our strategy to find the right mix between gross margin rate and market share. We continue to see positive results in our appliance business and are continuing to test new merchandise and tailor our assortment around products that leverage our consultative sales force, delivery and installation network and private-label credit offering. In our fiscal third quarter, we expect to fully rollout furniture and exercise equipment to all of our stores, along with continuing to rollout to a selective number of stores an expanded offering of tablet and hand held consumer products.”
Net sales for the three months ended September 30, 2012 decreased 5.0% to $587.6 million from $618.6 million in the comparable prior year period. The decrease in net sales for the three month period was the result of a comparable store sales decrease of 8.8% along with the lapping of strong grand opening sales performance from stores that opened in the prior fiscal year, partially offset by the net addition of 19 stores during the past 12 months. Net sales for the six months ended September 30, 2012 increased 2.6% to $1.08 billion from $1.05 billion in the comparable prior year period. The increase in net sales for the six month period was attributable to the net addition of 19 stores during the past 12 months partially offset by a comparable store sales decrease of 7.2%.
Net sales mix and comparable store sales percentage changes by product category for the three and six months ended September 30, 2012 and 2011 were as follows:
|Net Sales Mix Summary||Comparable Store Sales Summary|
Three Months Ended
Six Months Ended
Three Months Ended
Six Months Ended
|Computing and mobile phones (1)||9||%||8||%||9||%||7||%||11.8||%||23.9||%||10.4||%||34.0||%|
(1) Primarily consists of computers, mobile phones and tablets.
(2) Primarily consists of audio, fitness equipment, furniture and accessories, mattresses and personal electronics.
The decrease in comparable store sales for the three month period ended September 30, 2012 was driven primarily by a decrease in net sales in the video and other categories, partially offset by increases in net sales in the appliance and computing and mobile phones categories. The video category comparable store sales decline was driven by a double digit decrease in unit demand partially offset by a single digit increase in average selling prices. The decrease in comparable store sales for the other category was primarily a result of double digit comparable store sales decreases in cameras, camcorders and small electronics, partially offset by growth in the mattress category. The appliance category increase in comparable store sales was driven by an increase in average selling price due to favorable mix shifts. The computing and mobile phones category was led by increased demand in the offering of tablet computers and mobile phones, partially offset by declines in notebook and netbook computers.
Gross profit margin, expressed as gross profit as a percentage of net sales, increased 107 basis points for the three months ended September 30, 2012 to 29.6% from 28.6% for the comparable prior year period. The increase was largely due to an increase in gross profit margin rates in the video and appliance categories, partially offset by modest declines in the computing and mobile phone and other categories. The increase in the video gross margin rate was largely due to a favorable mix of larger screen size LED models, which carry higher gross margin rates than smaller screen LCD models. The appliance category was favorably impacted by a continued mix shift to higher efficiency products which generate higher gross margin rates.
SG&A expense, as a percentage of net sales, increased 77 basis points for the three month period ended September 30, 2012 compared to the prior year period. The increase in SG&A as a percentage of net sales was largely a result of increases in employee wage and benefit expenses due to increased health insurance costs, in addition to the deleveraging effect of the net sales decline. This increase was partially offset by decreases in other SG&A accounts as a result of cost control measures implemented during the first and second fiscal quarters.
Net advertising expense, as a percentage of net sales, increased 48 basis points during the three months ended September 30, 2012 compared to the prior year period. The increase as a percentage of net sales was driven largely by the deleveraging effect of the net sales decline.
Depreciation expense, as a percentage of net sales, increased 35 basis points for the three months ended September 30, 2012 compared to the prior year period. The increase as a percentage of net sales was primarily due the capital spend associated with the 19 net new stores opened during the past 12 months and the deleveraging effect of the net sales decline.
The Company’s effective income tax rate for the three months ended September 30, 2012 increased to 39.8% from 38.4% in the comparable prior year period. The increase in the effective income tax rate is primarily the result of federal income tax credits recognized in fiscal 2012 under the Hiring Incentives to Restore Employment Act of 2010. These credits are no longer available in fiscal 2013.
During the fiscal quarter ended September 30, 2012, the Company repurchased 1,198,437 shares of its common stock at a total cost of $8.3 million. The shares were repurchased under the Company’s $50 million share repurchase program that was authorized by the Company’s Board of Directors on May 24, 2012 and expires on May 23, 2013. As of September 30, 2012, the Company had approximately $30.5 million authorized remaining under the current share repurchase program.
The Company continues to expect net income per diluted share to be within a range of $0.90 to $1.05 for fiscal 2013.
Included in the Company's guidance are the following annual assumptions:
- fiscal 2013 comparable store sales of negative 6% to negative 4%
- fiscal 2013 net sales increase of 3% to 6%
- 20 new store openings in fiscal 2013, from a previous range of 20 to 22
- the impact of year to date share repurchase activity of 2.3 million shares at a cost of $19.5 million
Jeremy Aguilar, Chief Financial Officer commented, “Our balance sheet and liquidity remain strong, with inventory per store down 10%, no long-term debt and no borrowings under our revolving credit facility. This positions us well to execute on our strategic initiatives to drive additional traffic and increase sales productivity in our comparable store base. While the overall operating environment will likely remain volatile for the foreseeable future, we remain committed to improving shareholder value over the long-term and are reiterating our net income per diluted share guidance for fiscal 2013 of $0.90 to $1.05 per share.”
Teleconference and Webcast
hhgregg will be conducting a conference call to discuss operating results for the three months ended September 30, 2012, on Friday, November 2, 2012 at 9:00 a.m. (Eastern Time). Interested investors and other parties may listen to a simultaneous webcast of the conference call by logging onto hhgregg’s website at www.hhgregg.com. The on-line replay will be available for a limited time immediately following the call. The call can also be accessed live over the phone by dialing (877) 304-8963. Callers should reference the hhgregg earnings call.
hhgregg is a specialty retailer of consumer electronics, home appliances and related services operating under the name hhgregg™. hhgregg currently operates 224 stores in Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Mississippi, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia and Wisconsin.
Safe Harbor Statement
The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release includes forward-looking statements. These statements may be identified by the use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. In particular, statements about the expectations, beliefs, plans, objectives, assumptions or future events or performance of hhgregg, Inc. are forward-looking statements.
hhgregg has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While hhgregg believes these expectations, assumptions, estimates and projections are reasonable, these forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These and other important factors may cause hhgregg’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Some of the key factors that could cause actual results to differ from hhgregg’s expectations are: the effect of general and regional economic and employment conditions on its net sales; impact of average selling prices on net sales; competition in existing, adjacent and new metropolitan markets; competition from internet retailers, ability to modify its product mix based on changes in consumer trends and preferences; its ability to effectively execute its strategic initiatives, particularly in the video category; its ability to effectively manage and monitor its operations, costs and service quality; its reliance on a small number of suppliers; rapid inflation or deflation in core product prices; the failure of manufacturers to introduce new products and technologies; customer acceptance of new technology; its dependence on the Company’s key management personnel and its ability to attract and retain qualified sale’s personnel; its ability to negotiate with its suppliers to provide product on a timely basis at competitive prices; the identification and acquisition of suitable sites for its stores and the negotiation of acceptable leases for those sites; fluctuation in seasonal demand; its ability to maintain its rate of growth and penetrate new geographic areas; its ability to locate suitable new store sites; its ability to obtain additional financing and maintain its credit facilities; its ability to maintain and upgrade its information technology systems; the effect of a disruption at the Company’s central distribution centers; changes in cost for advertising; and changes in legal and/or trade regulations, currency fluctuations and prevailing interest rates.
Other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release are more fully described in the “Risk Factors” section in the Company’s fiscal 2012 Form 10-K filed May 23, 2012, and in the “Risk Factors” section in the Company’s fiscal 2013 Form 10-Q filed August 2, 2012. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. hhgregg does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any of these statements to reflect future events or developments.
HHGREGG, INC. AND SUBSIDIARIES
|CONSOLIDATED STATEMENTS OF OPERATIONS|
|Three Months Ended||Six Months Ended|
|(In thousands, except share and per share data)|
|Cost of goods sold||413,489||441,924||756,686||743,065|
|Selling, general and administrative expenses||125,794||127,676||244,567||230,920|
|Net advertising expense||31,754||30,466||59,370||50,661|
|Depreciation and amortization expense||9,843||8,184||19,257||15,471|
|Income (loss) from operations||6,756||10,353||(2,388||)||9,941|
|Other expense (income):|
|Total other expense||507||571||983||1,079|
|Income (loss) before income taxes||6,249||9,782||(3,371||)||8,862|
|Income tax expense (benefit)||2,489||3,756||(1,431||)||3,597|
|Net income (loss)||$||3,760||$||6,026||$||(1,940||)||$||5,265|
|Net income (loss) per share|
|Weighted average shares outstanding-basic||35,237,201||37,860,450||35,685,482||38,676,500|
|Weighted average shares outstanding-diluted||35,291,269||38,097,564||35,685,482||39,021,215|
|HHGREGG, INC. AND SUBSIDIARIES|
|CONSOLIDATED STATEMENTS OF OPERATIONS|
|(AS A PERCENTAGE OF NET SALES)|
|Three Months Ended||Six Months Ended|
|September 30, 2012||September 30, 2011||September 30, 2012||September 30, 2011|
|Cost of goods sold||70.4||71.4||70.2||70.8|
|Selling, general and administrative expenses||21.4||20.6||22.7||22.0|
|Net advertising expense||5.4||4.9||5.5||4.8|
|Depreciation and amortization expense||1.7||1.3||1.8||1.5|
|Income (loss) from operations||1.1||1.7||(0.2)||0.9|
|Other expense (income):|
|Total other expense||0.1||0.1||0.1||0.1|
|Income (loss) before income taxes||1.1||1.6||(0.3)||0.8|
|Income tax expense (benefit)||0.4||0.6||(0.1)||0.3|
|Net income (loss)||0.6||%||1.0||%||(0.2)||%||0.5||%|
Certain percentage amounts do not sum due to rounding
|HHGREGG, INC. AND SUBSIDIARIES|
|CONSOLIDATED BALANCE SHEETS|
|SEPTEMBER 30, 2012, MARCH 31, 2012 AND SEPTEMBER 30, 2011|
|(In thousands, except share data)|
|Cash and cash equivalents||$||8,471||$||59,244||$||2,113|
|Accounts receivable—trade, less allowances of $35, $25 and $51, respectively||30,284||19,467||12,422|
|Merchandise inventories, net||339,732||282,409||345,954|
|Prepaid expenses and other current assets||4,708||5,562||4,948|
|Income tax receivable||7,813||-||11,566|
|Deferred income taxes||10,130||9,639||7,457|
|Total current assets||424,203||394,951||416,352|
|Net property and equipment||223,549||204,273||201,982|
|Deferred financing costs, net||2,324||2,656||2,988|
|Deferred income taxes||35,505||38,970||36,829|
|Total long-term assets||262,557||247,833||243,041|
|Liabilities and Stockholders’ Equity|
|Line of credit||-||-||33,900|
|Income tax payable||-||4,358||-|
|Total current liabilities||249,805||199,682||284,771|
|Other long-term liabilities||12,428||12,278||84,424|
|Total long-term liabilities||91,689||83,582||84,424|
|Preferred stock, par value $.0001; 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2012, March 31, 2012 and September 30, 2011, respectively||-||-||-|
|Common stock, par value $.0001; 150,000,000 shares authorized; 40,589,745, 40,066,005 and 39,755,739 shares issued; and 34,600,945, 36,351,716 and 37,041,450 shares outstanding as of September 30, 2012, March 31, 2012 and September 30, 2011, respectively||4||4||4|
|Additional paid-in capital||284,941||277,846||272,062|
|Common stock held in treasury at cost, 5,988,800, 3,714,289 and 2,714,289 shares as of September 30, 2012, March 31, 2012 and September 30, 2011, respectively||(67,020||)||(47,570||)||(35,000||)|
|Note receivable for common stock||-||(41||)||(41||)|
|Total stockholders’ equity||345,266||359,520||290,198|
|Total liabilities and stockholders’ equity||$||686,760||$||642,784||$||659,393|
|HHGREGG, INC. AND SUBSIDIARIES|
|CONSOLIDATED STATEMENTS OF CASH FLOWS|
|SIX MONTHS ENDED SEPTEMBER 30, 2012 AND 2011|
|Six Months Ended|
|September 30, 2012||September 30, 2011|
|Cash flows from operating activities:|
|Net (loss) income||$||(1,940||)||$||5,265|
|Adjustments to reconcile net (loss) income to net cash used in operating activities:|
|Depreciation and amortization||19,257||15,471|
|Amortization of deferred financing costs||332||332|
|Excess tax benefits from stock-based compensation||(585||)||(21||)|
|Gain on sales of property and equipment||(143||)||(131||)|
|Deferred income taxes||2,974||13,705|
|Tenant allowances received from landlords||6,187||10,059|
|Changes in operating assets and liabilities:|
|Income tax receivable||(11,613||)||(11,566||)|
|Prepaid expenses and other assets||1,609||5,912|
|Other long-term liabilities||284||(78||)|
|Net cash used in operating activities||(13,843||)||(32,080||)|
|Cash flows from investing activities:|
|Purchases of property and equipment||(35,391||)||(55,793||)|
|Proceeds from sales of property and equipment||17||4|
|Net cash used in investing activities||(35,374||)||(55,789||)|
|Cash flows from financing activities:|
|Purchases of treasury stock||(19,450||)||(35,000||)|
|Proceeds from exercise of stock options||4,023||264|
|Excess tax benefits from stock-based compensation||585||21|
|Net increase in bank overdrafts||-||18,091|
|Net borrowings on line of credit||-||33,900|
|Net borrowings on inventory financing facility||13,245||-|
|Payment of financing costs||-||(88||)|
|Payment received on notes receivable-related parties||41||-|
|Net cash (used in) provided by financing activities||(1,556||)||17,188|
|Net decrease in cash and cash equivalents||(50,773||)||(70,681||)|
|Cash and cash equivalents|
|Beginning of period||59,244||72,794|
|End of period||$||8,471||$||2,113|
|Supplemental disclosure of cash flow information:|
|Income taxes paid||$||7,209||$||3,375|
|Capital expenditures included in accounts payable||$||4,366||$||5,462|
|HHGREGG, INC. AND SUBSIDIARIES|
|Store Count by Quarter for Fiscal Years 2011, 2012 and 2013|
|Beginning Store Count||131||157||169||173||173||180||204||208||208||210|
|Ending Store Count||157||169||173||173||180||204||208||208||210||223|
|Note: hhgregg, Inc.'s fiscal year is comprised of four quarters ending June 30th, September 30th, December 31st and March 31st.|
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 26, 2016 07:00 AM EDT Reads: 3,904
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, 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. Meanwhile, 94% of enterpri...
Aug. 26, 2016 05:00 AM EDT Reads: 3,021
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...
Aug. 26, 2016 02:15 AM EDT Reads: 1,947
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 26, 2016 01:30 AM EDT Reads: 1,664
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 26, 2016 01:00 AM EDT Reads: 1,954
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. 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 dev...
Aug. 26, 2016 12:45 AM EDT Reads: 2,262
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....
Aug. 26, 2016 12:30 AM EDT Reads: 2,902
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Aug. 25, 2016 11:45 PM EDT Reads: 2,287
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 25, 2016 10:15 PM EDT Reads: 1,717
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.
Aug. 25, 2016 09:15 PM EDT Reads: 2,206
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Aug. 25, 2016 05:15 PM EDT Reads: 704
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 25, 2016 03:30 PM EDT Reads: 1,499
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 25, 2016 02:00 PM EDT Reads: 3,559
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aug. 25, 2016 01:00 PM EDT Reads: 2,602
SYS-CON Events announced today Telecom Reseller has been named “Media 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. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 25, 2016 09:00 AM EDT Reads: 591
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Aug. 25, 2016 08:45 AM EDT Reads: 2,137
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 25, 2016 08:30 AM EDT Reads: 500
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, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Aug. 25, 2016 08:30 AM EDT Reads: 1,802
Akana has announced the availability of version 8 of its API Management solution. The Akana Platform provides an end-to-end API Management solution for designing, implementing, securing, managing, monitoring, and publishing APIs. It is available as a SaaS platform, on-premises, and as a hybrid deployment. Version 8 introduces a lot of new functionality, all aimed at offering customers the richest API Management capabilities in a way that is easier than ever for API and app developers to use.
Aug. 25, 2016 06:00 AM EDT Reads: 1,454
SYS-CON Events announced today that 910Telecom 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. 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 ...
Aug. 25, 2016 02:00 AM EDT Reads: 1,821