|By Business Wire||
|February 5, 2014 04:50 PM EST||
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW):
Q4 highlights from continuing operations
- Record revenue of $118.6 million, up 5.7% compared to Q3, 2013
- Adjusted EBITDA of $6.2 million, compared to $5.9 million in Q3, 2013
- Non-GAAP earnings from operations of $2.6 million, compared to $2.4 million in Q3, 2013
Full year highlights from continuing operations
- Record revenue of $441.9 million, up 11.2% year-over-year
- Adjusted EBITDA of $18.7 million, up 47.9% year-over-year
- Non-GAAP earnings from operations of $5.0 million, compared to $0.9 million in 2012
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) today reported results for its fourth quarter and full year, ending December 31, 2013. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (GAAP), except as otherwise indicated below.
“We achieved record revenue in the fourth quarter, closing out a year in which we delivered solid operational results, sold our AirCard business, and began putting the proceeds to work on acquisitions that extend our leadership position in M2M,” said Jason Cohenour, President and Chief Executive Officer. “We are exceptionally well positioned to capture the long-term M2M growth opportunity, and we are focused on continuing to drive profitable organic revenue growth, while we pursue additional acquisitions.”
As a result of the sale of the AirCard business, as well as our recent acquisition of the AnyDATA M2M business and our contemplated acquisition of In Motion Technology, our segments have changed from those reported at December 31, 2012. We are now reporting two segments, OEM Solutions and Enterprise Solutions, and all prior periods have been retrospectively adjusted to reflect the two segments.
Revenue for the fourth quarter of 2013 was $118.6 million, an increase of 8.4% compared to $109.4 million in the fourth quarter of 2012, and an increase of 5.7% compared to $112.3 million in the third quarter of 2013. Revenue from OEM Solutions was $101.8 million in the fourth quarter of 2013, up 7.4% compared to $94.9 million in the fourth quarter of 2012. Revenue from Enterprise Solutions was $16.8 million in the fourth quarter of 2013, up 15.3% compared to $14.5 million in the fourth quarter of 2012.
- Gross margin was $38.4 million, or 32.4% of revenue, in the fourth quarter of 2013, compared to $36.2 million, or 33.1% of revenue, in the fourth quarter of 2012.
- Operating expenses were $42.0 million and loss from operations was $3.5 million in the fourth quarter of 2013, compared to operating expenses of $37.7 million and a loss from operations of $1.5 million in the fourth quarter of 2012.
- Net loss from continuing operations was $1.9 million, or $0.06 per diluted share, in the fourth quarter of 2013, compared to net earnings from continuing operations of $15.5 million, or $0.50 per diluted share, in the fourth quarter of 2012. Net earnings in Q4, 2012 included an income tax recovery that was the result of the recognition of certain tax assets that were realizable as a result of the sale of the AirCard business.
- Net loss for continuing and discontinued operations(1) was $0.9 million, or $0.03 per diluted share, in the fourth quarter of 2013, compared to net earnings of $19.6 million, or $0.64 per diluted share, in the fourth quarter of 2012.
- Gross margin was 32.5% in the fourth quarter of 2013, compared to 33.2% in the fourth quarter of 2012.
- Operating expenses were $36.0 million and earnings from operations were $2.6 million in the fourth quarter of 2013, compared to operating expenses of $32.6 million and earnings from operations of $3.7 million in the fourth quarter of 2012.
- Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") were $6.2 million in the fourth quarter of 2013, compared to $7.0 million in the fourth quarter of 2012.
- Net earnings from continuing operations were $3.1 million, or $0.10 per diluted share, in the fourth quarter of 2013, compared to $4.5 million, or $0.15 per diluted share, in the fourth quarter of 2012.
Full Year 2013
Revenue for the year ended December 31, 2013 was $441.9 million, up 11.2% compared to $397.3 million for the year ended December 31, 2012. Revenue from OEM Solutions was $382.0 million for the year ended December 31, 2013, up 10.2% compared to $346.5 million for the year ended December 31, 2012. Revenue from Enterprise Solutions was $59.9 million for the year ended December 31, 2013, up 17.8% compared to $50.8 million for the year ended December 31, 2012.
- Gross margin was $145.6 million, or 33.0% of revenue, for the year ended December 31, 2013, compared to $125.3 million, or 31.5% of revenue, for the year ended December 31, 2012.
- Operating expenses were $163.3 million and loss from operations was $17.7 million for the year ended December 31, 2013, compared to operating expenses of $147.5 million and a loss from operations of $22.2 million for the year ended December 31, 2012.
- Net loss from continuing operations was $15.6 million, or $0.50 per diluted share, for the year ended December 31, 2013, compared to a net loss of $4.2 million, or $0.14 per diluted share, for the year ended December 31, 2012. Net earnings in 2012 included an income tax recovery that was the result of the recognition of certain tax assets that were realizable as a result of the sale of the AirCard business.
- Net earnings from continuing and discontinued operations(1) was $55.0 million, or $1.79 per diluted share, for the year ended December 31, 2013, compared to net earnings of $27.2 million, or $0.88 per diluted share, for the year ended December 31, 2012.
- Gross margin was 33.1% for the year ended December 31, 2013, compared to 31.6% for the year ended December 31, 2012.
- Operating expenses were $141.0 million and earnings from operations were $5.0 million for the year ended December 31, 2013, compared to operating expenses of $124.7 million and earnings from operations of $0.9 million for the year ended December 31, 2012.
- Adjusted EBITDA was $18.7 million for the year ended December 31, 2013, compared to $12.6 million for the year ended December 31, 2012.
- Net earnings from continuing operations were $6.9 million, or $0.23 per diluted share, for the year ended December 31, 2013, compared to a net loss of $0.4 million, or $0.01 per diluted share, for the year ended December 31, 2012.
Non-GAAP results exclude the impact of stock-based compensation expense, acquisition costs, gain on sale of the AirCard business, restructuring costs, integration costs, disposition costs, acquisition amortization, impairment, foreign exchange gains or losses on foreign currency contracts and translation of balance sheet accounts, and certain tax adjustments. We disclose non-GAAP amounts as we believe that these measures provide our shareholders with better information about actual operating results and assist in comparisons from one period to another.
Adjusted EBITDA as defined equates to earnings (loss) from operations plus stock-based compensation expense, acquisition costs, restructuring costs, integration costs, impairment, and amortization. The reconciliation between our GAAP and non-GAAP results is provided in the accompanying schedules.
(1) On April 2, 2013, we completed the sale of substantially all of the assets and operations related to our AirCard business. The results of operations and the gain on sale of the AirCard business have been presented as discontinued operations for the three and twelve months ended December 31, 2013 and December 31, 2012.
The Company provides the following guidance for continuing operations for the first quarter of 2014.
In the first quarter of 2014 we expect solid year-over-year revenue and earnings growth. We expect gross margin to decrease slightly from Q4, 2013 due to a shift in product mix and we expect operating expenses to increase as a result of higher new product certification costs, investment in sales and marketing capabilities, and a full quarter of expenses related to the AnyDATA acquired business.
|Q1 2014 Guidance||
|Revenue||$117.0 to $121.0 million|
|Earnings from operations||$0.5 to $1.5 million|
|Net earnings||$0.4 to $1.2 million|
|Earnings per share||$0.01 to $0.04 per share|
This non-GAAP guidance for the first quarter of 2014 reflects current business indicators and expectations. Inherent in this guidance are risk factors that are described in greater detail in our regulatory filings. Our actual results could differ materially from those presented above. All figures are approximations based on management's current beliefs and assumptions.
Conference call, webcast and instant replay details
Sierra Wireless President and CEO, Jason Cohenour, and CFO, David McLennan, will host a conference call and webcast with analysts and investors to review the results on Wednesday, February 5, 2014, at 5:30 PM Eastern Time (2:30 PM PT). A live slide presentation will be available for viewing during the call from the link provided below.
To participate in this conference call, please dial the following number approximately ten minutes prior to the commencement of the call:
- Toll-free (Canada and US): 1-877-201-0168
- Alternate number: 1-647-788-4901
- Conference ID: 18174338
For those unable to participate in the live call, a replay will be available until March 5, 2014. Dial 1-855-859-2056 or 1-800-585-8367 and enter the Conference ID number above to access the replay.
To access the webcast, please follow the link below:
If the above link does not work, please copy and paste the following URL into your browser:
The webcast will remain available at the above link for one year following the call.
We look forward to having you participate in our call.
Cautionary Note Regarding Forward-Looking Statements
Certain statements and information in this press release are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws (“forward-looking statements”) including statements and information relating to our financial guidance for the first quarter of 2014 and our fiscal year 2014, our business outlook for the short and longer term and our strategy, plans and future operating performance. Forward-looking statements are provided to help you understand our views of our short and longer term prospects. We caution you that forward-looking statements may not be appropriate for other purposes. We will not update or revise our forward-looking statements unless we are required to do so by securities laws.
- Typically include words and phrases about the future such as “outlook”, “may”, “estimates”, “intends”, “believes”, “plans”, “anticipates” and “expects”.
- Are not promises or guarantees of future performance. They represent our current views and may change significantly.
- Are based on a number of material assumptions, including those listed below, which could prove to be significantly incorrect:
- Our ability to develop, manufacture and sell new products and services that meet the needs of our customers and gain commercial acceptance;
- Our ability to continue to sell our products and services in the expected quantities at the expected prices and expected times;
- Expected cost of goods sold;
- Expected component supply constraints;
- Our ability to “win” new business;
- Expected deployment of next generation networks by wireless network operators;
- Our operations are not adversely disrupted by component shortages or other development, operating or regulatory risks; and
- Expected tax rates and foreign exchange rates.
- Are subject to substantial known and unknown material risks and uncertainties. Many factors could cause our actual results, achievements and developments in our business to differ significantly from those expressed or implied by our forward-looking statements, including without limitation, the following factors. These risk factors and others are discussed in our Annual Information Form and Management's Discussion and Analysis of Financial Condition and Results of Operations, which may be found on SEDAR at www.sedar.com and on EDGAR at www.sec.gov and in our other regulatory filings with the Securities and Exchange Commission in the United States and the Provincial Securities Commissions in Canada.
- Actual sales volumes or prices for our products and services may be lower than we expect for any reason including, without limitation, continuing uncertain economic conditions, price and product competition, different product mix, the loss of any of our significant customers, or competition from new or established wireless communication companies;
- The cost of products sold may be higher than planned or necessary component supplies may not be available, are delayed or are not available on commercially reasonable terms;
- We may be unable to enforce our intellectual property rights or may be subject to litigation that has an adverse outcome;
- The development and timing of the introduction of our new products may be later than we expect or may be indefinitely delayed;
- Transition periods associated with the migration to new technologies may be longer than we expect; and
- We may experience higher than anticipated costs; disruption of, and demands on, our ongoing business; diversion of management's time and attention; adverse effects on existing business relationships with suppliers and customers and employee issues in connection with the divestiture of the AirCard assets and operations.
About Sierra Wireless
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is the global leader in machine-to-machine (M2M) devices and cloud services, delivering intelligent wireless solutions that simplify the connected world. We offer the industry's most comprehensive portfolio of 2G, 3G and 4G embedded modules and gateways, seamlessly integrated with our secure M2M cloud services. Customers worldwide, including OEMs, enterprises, and mobile network operators, trust our innovative solutions to get their connected products and services to market faster. Sierra Wireless has more than 850 employees globally and has R&D centers in North America, Europe and Asia. For more information about Sierra Wireless, visit www.sierrawireless.com.
"AirPrime," "AirLink," and "AirVantage" are trademarks of Sierra Wireless. Other product or service names mentioned herein may be the trademarks of their respective owners.
SIERRA WIRELESS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(In thousands of U.S. dollars, except where otherwise stated)
Three months ended December 31,
|Twelve months ended December 31,|
|Cost of goods sold||80,165||73,172||296,219||272,047|
|Sales and marketing||10,693||10,176||42,182||37,067|
|Research and development||19,074||16,294||73,112||61,785|
|Loss from operations||(3,547)||(1,516)||(17,664)||(22,206)|
|Foreign exchange gain||1,921||1,608||3,823||3,326|
|Other income (expense)||26||35||(98)||(196)|
|Earnings (loss) before income taxes||(1,600)||127||(13,939)||(19,076)|
|Income tax expense (recovery)||345||(15,369)||1,611||(14,874)|
|Net earnings (loss) from continuing operations||(1,945)||15,523||(15,550)||(4,202)|
|Net earnings from discontinued operations||1,078||4,083||70,588||31,401|
Net earnings (loss)
|Other comprehensive income (loss):|
|Foreign currency translation adjustments, net of taxes of $nil||179||676||604||538|
|Comprehensive income (loss)||$||(688)||$||20,282||$||55,642||$||27,737|
|Basic and diluted net earnings (loss) per share attributable to the Company’s common shareholders (in dollars)|
|Weighted average number of shares outstanding (in thousands)|
SIERRA WIRELESS, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars)
|December 31, 2013||December 31, 2012|
|Cash and cash equivalents||$||177,416||$||63,646|
|Accounts receivable, net of allowance for doubtful accounts of $2,279 (December 31, 2012 - $2,435)||112,490||108,624|
|Deferred income taxes||2,391||22,199|
|Prepaids and other||28,741||24,252|
|Assets held for sale||—||54,340|
|Property and equipment||21,982||20,039|
|Deferred income taxes||7,176||3,880|
|Accounts payable and accrued liabilities||$||124,846||$||128,216|
|Deferred revenue and credits||2,481||1,312|
|Liabilities held for sale||—||10,353|
|Deferred income taxes||127||300|
Common stock: no par value; unlimited shares authorized; issued
and outstanding 31,097,844 shares
Preferred stock: no par value; unlimited shares authorized; issued and outstanding: nil shares
|Treasury stock: at cost 507,147 shares (December 31, 2012 – 716,313 shares)||(5,137)||(5,172)|
|Additional paid-in capital||25,996||23,203|
|Retained earnings (deficit)||19,367||(35,283)|
|Accumulated other comprehensive loss||(6,858)||(7,462)|
SIERRA WIRELESS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of U.S. dollars)
|Three months ended December 31,||Twelve months ended December 31,|
|Cash flows provided by (used in):|
|Items not requiring (providing) cash|
|Gain on sale of AirCard business||—||—||(94,078)||—|
|Deferred income taxes||(855)||(9,701)||16,339||(13,606)|
|Loss (gain) on disposal of property, equipment, and intangibles||—||(76)||(10)||107|
|Impairment of assets related to discontinued operations||—||—||1,012||—|
|Tax benefit from equity awards||1,458||71||1,458||71|
|Taxes paid related to net settlement of equity awards||(66)||—||(408)||(4)|
|Changes in non-cash working capital|
|Prepaid expenses and other||4,616||6,014||(7,254)||(14,543)|
|Accounts payable and accrued liabilities||1,940||(26,540)||(13,139)||10,997|
|Deferred revenue and credits||662||(277)||1,147||(422)|
|Cash flows provided by (used in) operating activities||(3,738)||9,283||17,866||38,053|
|Purchase of M2M business of Sagemcom||—||—||—||(55,218)|
|Purchase of M2M business of AnyDATA||(5,196)||—||(5,196)||—|
|Additions to property and equipment||(1,649)||(3,995)||(11,359)||(15,845)|
|Proceeds from sale of property, equipment, and intangibles||—||83||32||139|
|Increase in intangible assets||(542)||(673)||(2,211)||(2,607)|
|Net proceeds from sale of AirCard business||—||—||119,958||—|
|Net change in short-term investments||2,751||—||(2,470)||9,347|
|Cash flows provided by (used in) investing activities||(4,636)||(4,585)||98,754||(64,184)|
|Issuance of common shares||3,159||9||8,106||436|
|Repurchase of common shares for cancellation||—||—||(5,772)||(6,312)|
|Purchase of treasury shares for RSU distribution||—||—||(3,433)||(2,489)|
|Decrease in other long-term obligations||(49)||(169)||(876)||(1,000)|
Cash flows provided by (used in) financing activities
|Effect of foreign exchange rate changes on cash and cash equivalents||(540)||(420)||(875)||(2,233)|
|Cash and cash equivalents, increase (decrease) in the period||(5,804)||4,118||113,770||(37,729)|
|Cash and cash equivalents, beginning of period||183,220||59,528||63,646||101,375|
|Cash and cash equivalents, end of period||$||177,416||$||63,646||$||177,416||$||63,646|
SIERRA WIRELESS, INC.
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
|(in thousands of U.S. dollars, except where otherwise stated)|
|Gross margin - GAAP||$||38,443||$||37,346||$||36,474||$||33,378||$||36,233||$||31,086||$||30,081||$||27,874|
|Gross margin - Non-GAAP||$||38,562||$||37,463||$||36,569||$||33,453||$||36,294||$||31,168||$||30,159||$||27,957|
|Loss from operations - GAAP||$||(3,547)||$||(3,301)||$||(3,932)||$||(6,884)||$||(1,516)||$||(6,728)||$||(6,558)||$||(7,404)|
|Impairment of intangible asset||—||—||—||280||—||—||—||—|
|Acquisition related amortization||3,580||3,405||3,363||3,393||3,338||2,906||2,665||2,981|
|Earnings (loss) from operations - Non-GAAP||$||2,593||$||2,402||$||1,470||$||(1,412)||$||3,721||$||334||$||(360)||$||(2,797)|
|Amortization (excluding acquisition related amortization)||3,566||3,468||3,403||3,212||3,293||2,904||2,717||2,833|
|Net earnings (loss) from continuing operations - GAAP||$||(1,945)||$||1,075||$||(6,742)||$||(7,938)||$||15,523||$||(3,612)||$||(8,868)||$||(7,245)|
|Stock-based compensation, restructuring and other, integration, and acquisition related amortization, net of tax||6,112||5,760||5,393||5,355||5,162||6,885||5,658||4,536|
|Unrealized foreign exchange loss (gain)||(1,970)||(2,457)||(1,359)||1,874||(1,655)||(1,218)||(165)||(101)|
|Income tax adjustments||925||(895)||3,754||—||(14,540)||(804)||—||—|
|Net earnings (loss) from continuing operations - Non-GAAP||$||3,122||$||3,483||$||1,046||$||(709)||$||4,490||$||1,251||$||(3,375)||$||(2,810)|
|Net earnings (loss) from discontinued operations - GAAP||$||1,078||$||(505)||$||68,152||$||1,863||$||4,083||$||7,279||$||12,449||$||7,590|
|Stock-based compensation and disposition costs||3||1,402||876||1,733||1,696||233||233||233|
|Gain on sale of AirCard business||(1,056)||(49)||(69,077)||—||—||—||—||—|
|Net earnings (loss) from discontinued operations - Non-GAAP||$||25||$||848||$||(49)||$||3,596||$||5,779||$||7,512||$||12,682||$||7,823|
|Net earnings (loss) - GAAP||$||(867)||$||570||$||61,410||$||(6,075)||$||19,606||$||3,667||$||3,581||$||345|
|Net earnings (loss) - Non-GAAP||3,147||4,331||997||2,887||10,269||8,763||9,307||5,013|
|Diluted earnings (loss) from continuing operations per share|
|GAAP - (in dollars)||$||(0.06)||$||0.03||$||(0.22)||$||(0.26)||$||0.50||$||(0.12)||$||(0.29)||$||(0.23)|
|Non-GAAP - (in dollars)||$||0.10||$||0.11||$||0.03||$||(0.02)||$||0.15||$||0.04||$||(0.11)||$||(0.09)|
|Net earnings (loss) per share - diluted|
|GAAP - (in dollars)||$||(0.03)||$||0.02||$||2.00||$||(0.20)||$||0.64||$||0.12||$||0.12||$||0.01|
|Non-GAAP - (in dollars)||$||0.10||$||0.14||$||0.03||$||0.09||$||0.33||$||0.29||$||0.30||$||0.16|
SIERRA WIRELESS, INC.
|(In thousands of U.S. dollars)|
|Cost of goods sold||266,867||72,336||66,395||65,514||62,622||246,284||66,024||63,172||58,844||58,244|
|Gross margin %||30.1||%||29.0||%||30.7||%||31.1||%||29.8||%||28.9||%||30.4||%||28.4||%||29.4||%||27.3||%|
|Cost of goods sold||29,352||7,829||8,521||7,601||5,401||25,763||7,148||5,925||6,473||6,217|
|Gross margin %||51.0||%||53.3||%||48.1||%||47.6||%||55.6||%||49.3||%||50.8||%||50.3||%||46.5||%||49.2||%|
(1) Comparative information has been reclassified to conform to current period presentation.
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C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
Nov. 20, 2014 06:00 PM EST Reads: 1,279
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
Nov. 20, 2014 04:45 PM EST Reads: 1,059
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. 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 - 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.
Nov. 20, 2014 01:00 PM EST Reads: 1,521
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
Nov. 20, 2014 12:30 PM EST Reads: 1,757
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Nov. 18, 2014 09:00 PM EST Reads: 1,993
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
Nov. 18, 2014 08:15 PM EST Reads: 1,570
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
Nov. 18, 2014 08:15 PM EST Reads: 1,518
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
Nov. 18, 2014 01:30 PM EST Reads: 1,988
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world. The next @ThingsExpo will take place November 4-6, 2014, at the Santa Clara Convention Center, in Santa Clara, California. Since its launch in 2008, Cloud Expo TV commercials have been aired and CNBC, Fox News Network, and Bloomberg TV. Please enjoy our 2014 commercial.
Nov. 13, 2014 05:00 AM EST Reads: 3,530