|By Business Wire||
|January 31, 2013 07:02 AM EST||
hhgregg, Inc. (NYSE: HGG):
|Three Months Ended||Nine Months Ended|
|December 31,||December 31,|
|(unaudited, amounts in thousands, except share and per share data)||2012||2011||2012||2011|
|Net sales % (decrease) increase||(3.6||)%||26.9||%||(0.1||)%||19.7||%|
|Comparable store sales % (decrease) increase (1)||(9.7||)%||3.9||%||(8.3||)%||(1.2||)%|
|Gross profit as a % of net sales||27.3||%||27.2||%||28.7||%||28.4||%|
|SG&A as a % of net sales||17.4||%||17.0||%||20.4||%||19.8||%|
|Net advertising expense as a % of net sales||4.8||%||4.8||%||5.2||%||4.8||%|
|Depreciation and amortization expense as a % of net sales||1.3||%||1.1||%||1.6||%||1.3||%|
|Income from operations as a % of net sales||3.7||%||4.5||%||1.4||%||2.5||%|
|Net interest expense as a % of net sales||0.1||%||0.1||%||0.1||%||0.1||%|
|Net income per diluted share||$||0.51||$||0.60||$||0.44||$||0.72|
|Net income per diluted share, as adjusted (2)||$||0.52||0.60||$||0.45||0.72|
|Weighted average shares outstanding—diluted||33,985,113||37,603,767||35,168,497||38,522,707|
|Number of stores open at the end of period||228||208|
(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.
(2) Third fiscal quarter 2013 amount is adjusted to exclude an impairment charge. See the attached reconciliation of non-GAAP measures.
hhgregg, Inc. (“hhgregg” or the “Company”) today reported net income of $17.4 million, or $0.51 per diluted share, for the three month period ended December 31, 2012, compared with net income of $22.5 million, or $0.60 per diluted share, for the comparable prior year period. For the nine month period ended December 31, 2012 net income was $15.4 million, or $0.44 per diluted share, compared with net income of $27.7 million, or $0.72 per diluted share for the comparable prior year period. Third fiscal quarter 2013 results include a $0.5 million ($0.3 million after-tax) charge related to impairment for one store. Net income, as adjusted for this item, for the three month period ended December 31, 2012 was $17.7 million, or $0.52 per diluted share, as adjusted. Net income, as adjusted for this item for the nine month period ended December 31, 2012 was $15.8 million, or $0.45 per diluted share, as adjusted. The decrease in adjusted net income for the three month period ended December 31, 2012 was largely due to a comparable store sales decrease of 9.7% and an increase in SG&A as a percentage of net sales, partially offset by the accretive impact of the net addition of 20 stores during the past 12 months and an increase in gross profit as a percentage of net sales. The decrease in adjusted net income for the nine month period was the result of a comparable store sales decrease of 8.3%, 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 the accretive impact of the net addition of 20 stores during the past 12 months and an increase in gross profit as a percentage of net sales.
Dennis May, President and CEO commented, “As we announced in our pre-release, the difficult industry-wide video category trends presented a challenge to our sales and earnings. With the continued growth of our appliance business and the introduction of new categories, such as furniture and home fitness, we continue to reduce our reliance on both the video category and innovation in consumer electronics. Over time, we plan to continue to refine our mix towards large consumer home products, which include a greater mix of appliances, furniture, fitness equipment and other home products that leverage our consultative sales force, ability to deliver and install big box product, and our private label credit card. Video and consumer electronics remain important to us, but we plan to increase our focus on these other large home products.”
Net sales for the three months ended December 31, 2012 decreased 3.6% to $799.6 million from $829.5 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 9.7%, partially offset by the net addition of 20 stores during the past 12 months. Net sales for the nine months ended December 31, 2012 decreased 0.1% to $1.877 billion from $1.880 billion in the comparable prior year period. The decrease in net sales for the nine month period was attributable to a comparable store sales decrease of 8.3%, partially offset by the net addition of 20 stores during the past 12 months.
Net sales mix and comparable store sales percentage changes by product category for the three and nine months ended December 31, 2012 and 2011 were as follows:
|Net Sales Mix Summary||Comparable Store Sales Summary|
Three Months Ended
Nine Months Ended
Three Months Ended
Nine Months Ended
|Computing and mobile phones (1)||14||%||11||%||11||%||9||%||16.2||%||91.4||%||13.7||%||61.1||%|
(1) Primarily consists of computers, mobile phones and tablets.
(2) Primarily consists of accessories, audio, fitness equipment, furniture, mattresses and personal electronics.
The decrease in comparable store sales for the three months ended December 31, 2012 was driven primarily by a decrease in net sales in the video and other categories, partially offset by an increase 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, largely resulting from our strategy of offering fewer entry level models. The decrease in comparable store sales for the other category was primarily a result of double digit comparable store sales decreases in cameras, camcorders, small electronics and mattresses, partially offset by sales from the furniture and fitness equipment categories. The appliance category increase in comparable store sales was driven by an increase in both the average selling price and units sold. The growth in the computing and mobile phones category was led by increased demand for tablets, partially offset by a decline in mobile phones.
Gross profit margin, expressed as gross profit as a percentage of net sales, increased slightly for the three months ended December 31, 2012 to 27.3% from 27.2% for the comparable prior year period. The increase was largely due to increases in gross profit margin rates in the appliance and video categories, partially offset by decreases in gross profit margin rates in the computing and mobile phone and other categories. The appliance category was favorably impacted by a continued mix shift to higher efficiency products which generate higher gross margin rates. The increase in the video category gross margin rate was largely due to a favorable mix of larger LED model screen sizes, which generate higher gross margin rates than smaller screen LCD models. The computing and mobile phone category gross margin rate decrease was due to a decline in the gross margin rate of mobile phones, while the other category gross margin rate was pressured by declines in the gross margin rate of accessories.
SG&A expense, as a percentage of net sales, increased 47 basis points for the three months ended December 31, 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 occupancy costs as a percentage of net sales due to the deleveraging effect of the net sales decline in addition to an increase in home delivery expenses as a percentage of net sales due to a higher sales mix of deliverable product. This increase was partially offset by decreases in other SG&A accounts as a result of cost control measures.
Net advertising expense, as a percentage of net sales, increased 8 basis points during the three months ended December 31, 2012 compared to the prior year period. While the Company reduced its gross advertising spend from the prior year, the slight 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 25 basis points for the three months ended December 31, 2012 compared to the prior year period. The increase as a percentage of net sales was primarily due the capital spend associated with the 20 new stores opened during the past 12 months and the deleveraging effect of the net sales decline.
Our effective income tax rate for the three months ended December 31, 2012 increased to 39.1% from 37.8% 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.
Consistent with the Company’s pre-release on January 14, 2013, the Company expects net income per diluted share will be within a range of $0.70 to $0.80 for fiscal 2013.
Included in the Company’s guidance, are the following annual assumptions:
- fiscal 2013 comparable store sales of negative 8.5% to negative 7.5%
- fiscal 2013 net sales increase of flat to 1%
- net capital expenditures of approximately $45 million
- the impact of fiscal year to date share repurchases of 3.6 million shares at a cost of $30.0 million
Teleconference and Webcast
hhgregg will be conducting a conference call to discuss operating results for the nine months ended December 31, 2012, on Thursday, January 31, 2013 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.
Non-GAAP to GAAP Reconciliation
Attached is a reconciliation of non-GAAP measures used in this earnings release including net income to net income, as adjusted, and diluted net income per share to diluted net income per share, as adjusted. Definitions and reconciliations of non-GAAP financial measures that will be discussed on the hhgregg investor earnings call, including net income, as adjusted, and diluted net income per share, as adjusted, can be found at www.hhgregg.com on the investor relations page.
hhgregg is a specialty retailer of home appliances, televisions, computers, consumer electronics, home entertainment furniture, mattresses, fitness equipment and related services operating under the name hhgregg™. hhgregg currently operates 228 stores in Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, 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:
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; industry wide declines in the video category; ability to reduce reliance on the video category and consumer electronics; impact of our sales mix and ability to focus on consumer home products; 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” sections in the Company’s fiscal 2012 Form 10-K filed May 23, 2012 and Form 10-Q filed November 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. Except as required by law, 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 INCOME|
|Three Months Ended||Nine Months Ended|
|(In thousands, except share and per share data)|
|Cost of goods sold||581,450||603,640||1,338,136||1,346,705|
|Selling, general and administrative expenses||139,303||140,609||383,871||371,529|
|Net advertising expense||38,715||39,488||98,085||90,148|
|Depreciation and amortization expense||10,416||8,765||29,673||24,236|
|Asset impairment charges||504||—||504||—|
|Income from operations||29,247||37,044||26,858||46,985|
|Other expense (income):|
|Total other expense||701||880||1,684||1,959|
|Income before income taxes||28,546||36,164||25,174||45,026|
|Income tax expense||11,157||13,686||9,726||17,283|
|Net income per share|
|Weighted average shares outstanding-basic||33,934,383||37,154,446||35,099,660||38,167,304|
|Weighted average shares outstanding-diluted||33,985,113||37,603,767||35,168,497||38,522,707|
|HHGREGG, INC. AND SUBSIDIARIES|
|CONSOLIDATED INCOME STATEMENTS|
|(AS A PERCENTAGE OF NET SALES)|
|Three Months Ended||Nine Months Ended|
|Cost of goods sold||72.7||72.8||71.3||71.6|
|Selling, general and administrative expenses||17.4||17.0||20.4||19.8|
|Net advertising expense||4.8||4.8||5.2||4.8|
|Depreciation and amortization expense||1.3||1.1||1.6||1.3|
|Asset impairment charges||0.1||—||—||—|
|Income from operations||3.7||4.5||1.4||2.5|
|Other expense (income):||—||—||—||—|
|Total other expense||0.1||0.1||0.1||0.1|
|Income before income taxes||3.6||4.4||1.3||2.4|
|Income tax expense||1.4||1.6||0.5||0.9|
Certain percentage amounts do not sum due to rounding
|HHGREGG, INC. AND SUBSIDIARIES|
|CONSOLIDATED BALANCE SHEETS|
|DECEMBER 31, 2012, MARCH 31, 2012 AND DECEMBER 31, 2011|
|(In thousands, except share data)|
|Cash and cash equivalents||15,522||59,244||5,351|
|Accounts receivable—trade, less allowances of $25 as of December 31, 2012 and March 31, 2012, and $97 as of December 31, 2011||20,674||19,467||31,627|
|Merchandise inventories, net||438,378||282,409||415,901|
|Prepaid expenses and other current assets||5,083||5,562||5,257|
|Income tax receivable||1,114||—||—|
|Deferred income taxes||10,371||9,639||8,203|
|Total current assets||521,652||394,951||498,083|
|Net property and equipment||224,026||204,273||207,971|
|Deferred financing costs, net||2,158||2,656||2,822|
|Deferred income taxes||34,663||38,970||40,180|
|Total long-term assets||262,020||247,833||252,192|
|Liabilities and Stockholders’ Equity|
|Line of credit||—||—||28,145|
|Income Tax Payable||3,616||4,358||3,729|
|Total current liabilities||338,424||199,682||347,223|
|Other long-term liabilities||12,276||12,278||12,604|
|Total long-term liabilities||91,714||83,582||86,883|
|Preferred stock, par value $.0001; 10,000,000 shares authorized; no shares issued and outstanding as of December 31, 2012, March 31, 2012 and December 31, 2011, respectively||—||—||—|
|Common stock, par value $.0001; 150,000,000 shares authorized; 40,611,411, 40,066,005 and 39,955,572 shares issued; and 33,338,522, 36,351,716 and 37,241,283 outstanding as of December 31, 2012, March 31, 2012 and December 31, 2011, respectively||4||4||4|
|Additional paid-in capital||286,412||277,846||275,555|
|Common stock held in treasury at cost, 7,272,889, 3,714,289 and 2,714,289 shares as of December 31, 2012, March 31, 2012 and December 31, 2011, respectively||(77,611||)||(47,570||)||(35,000||)|
|Note receivable for common stock||—||(41||)||(41||)|
|Total stockholders’ equity||353,534||359,520||316,169|
|Total liabilities and stockholders’ equity||783,672||642,784||750,275|
|HHGREGG, INC. AND SUBSIDIARIES|
|CONSOLIDATED STATEMENTS OF CASH FLOWS|
|NINE MONTHS ENDED DECEMBER 31, 2012 AND 2011|
|Nine Months Ended|
|Cash flows from operating activities:|
|Adjustments to reconcile net income to net cash provided by (used in) operating activities:|
|Depreciation and amortization||29,673||24,236|
|Amortization of deferred financing costs||498||498|
|Excess tax benefits from stock based compensation||(585||)||(419||)|
|Gain on sales of property and equipment||(216||)||(195||)|
|Deferred income taxes||3,575||9,608|
|Asset impairment charges||504||—|
|Tenant allowances received from landlords||8,424||17,097|
|Changes in operating assets and liabilities:|
|Income tax receivable||(1,356||)||—|
|Prepaid expenses and other assets||1,240||5,626|
|Other long-term liabilities||198||323|
|Net cash provided by (used in) operating activities||15,291||(18,898||)|
|Cash flows from investing activities:|
|Purchases of property and equipment||(50,291||)||(74,996||)|
|Proceeds from sales of property and equipment||34||4|
|Net cash used in investing activities||(50,257||)||(74,992||)|
|Cash flows from financing activities:|
|Purchases of treasury stock||(30,041||)||(35,000||)|
|Proceeds from exercise of stock options||4,184||1,880|
|Excess tax benefits from stock-based compensation||585||419|
|Net increase in bank overdrafts||12,153||31,091|
|Net borrowings on line of credit||—||28,145|
|Net borrowings on inventory financing facility||4,322||—|
|Payment of financing costs||—||(88||)|
|Payments received on notes receivable-related parties||41||—|
|Net cash (used in) provided by financing activities||(8,756||)||26,447|
|Net decrease in cash and cash equivalents||(43,722||)||(67,443||)|
|Cash and cash equivalents|
|Beginning of period||59,244||72,794|
|End of period||$||15,522||$||5,351|
|Supplemental disclosure of cash flow information:|
|Income taxes paid||$||7,509||$||5,542|
|Capital expenditures included in accounts payable||$||873||$||1,013|
|HHGREGG, INC. AND SUBSIDIARIES|
|NON-GAAP RECONCILATION OF NET INCOME, AS ADJUSTED AND|
|DILUTED NET INCOME PER SHARE, AS ADJUSTED|
|Three Months Ended December 31,||Nine Months Ended December 31,|
|(Amounts in thousands, except share data)||2012||2011||2012||2011|
|Net income as reported||$||17,389||$||22,478||$||15,448||$||27,743|
|Adjustments to net income:|
|Asset impairment charges||504||—||504||—|
|Tax impact of adjustments to net income||(202||)||—||(202||)||—|
|Net income, as adjusted||$||17,691||$||22,478||$||15,750||$||27,743|
|Weighted average shares outstanding – Diluted||33,985,113||37,603,767||35,168,497||38,522,707|
|Diluted net income per share as reported||$||0.51||$||0.60||$||0.44||$||0.72|
|Tax adjusted impact of above adjustments||$||0.01||$||—||$||0.01||$||—|
|Diluted net income per share, as adjusted||$||0.52||$||0.60||$||0.45||$||0.72|
|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||223|
|Ending Store Count||157||169||173||173||180||204||208||208||210||223||228|
Note: hhgregg, Inc. ’s fiscal year is comprised of four quarters ending June 30th, September 30th, December 31st and March 31st.
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
Sep. 3, 2015 01:00 PM EDT Reads: 366
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
Sep. 3, 2015 12:30 PM EDT Reads: 284
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be.
Sep. 3, 2015 12:15 PM EDT
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so they don't have to be replaced and are instantly converted to become smart, connected devices.
Sep. 3, 2015 12:00 PM EDT Reads: 248
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small, but are focused on specific tasks. The ability for developers to deploy multiple containers – thous...
Sep. 3, 2015 12:00 PM EDT Reads: 123
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
Sep. 3, 2015 11:30 AM EDT
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts, GM of Platform at FinancialForce.com, will discuss the value of business applications on wearable ...
Sep. 3, 2015 10:45 AM EDT
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
Sep. 3, 2015 10:00 AM EDT Reads: 282
17th Cloud Expo, taking place Nov 3-5, 2015, 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 enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
Sep. 3, 2015 10:00 AM EDT Reads: 1,599
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Sep. 3, 2015 09:30 AM EDT Reads: 204
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Sep. 3, 2015 09:30 AM EDT Reads: 211
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Sep. 3, 2015 09:30 AM EDT Reads: 652
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, will discuss how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the data to create additional revenue streams, such as improved warranties or premium features. Or slash...
Sep. 3, 2015 09:15 AM EDT
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
Sep. 3, 2015 08:30 AM EDT Reads: 318
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Sep. 3, 2015 07:45 AM EDT Reads: 109
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th 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 an...
Sep. 3, 2015 05:15 AM EDT Reads: 2,023
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Sep. 3, 2015 05:00 AM EDT Reads: 496
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Communication) is an open source project supported by Google, Mozilla and Opera that aims to enable bro...
Sep. 3, 2015 05:00 AM EDT Reads: 1,595
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
Sep. 3, 2015 04:00 AM EDT Reads: 739
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
Sep. 3, 2015 02:30 AM EDT Reads: 1,688