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Sierra Wireless Reports Fourth Quarter and Full Year 2013 Results

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.

Q4 2013

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.

GAAP

  • 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.

NON-GAAP

  • 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.

GAAP

  • 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.

NON-GAAP

  • 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.

Financial Guidance

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   Consolidated

Non-GAAP

 
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:

Sierra Wireless Q4 and Year End 2013 Financial Results Webcast

If the above link does not work, please copy and paste the following URL into your browser:

http://www.snwebcastcenter.com/webcast/sierrawireless/2013q4/

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.

Forward-looking statements:

  • 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,
  2013   2012 2013   2012
Revenue $ 118,608 $ 109,405 $ 441,860 $ 397,321
Cost of goods sold   80,165   73,172   296,219   272,047
Gross margin   38,443   36,233   145,641   125,274
 
Expenses
Sales and marketing 10,693 10,176 42,182 37,067
Research and development 19,074 16,294 73,112 61,785
Administration 8,841 7,743 35,164 32,777
Acquisition 369 387 508 3,182
Restructuring 14 42 171 2,251
Integration 27
Amortization   2,999   3,107   12,141   10,418
    41,990   37,749   163,305   147,480
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)

$ (867) $ 19,606 $ 55,038 $ 27,199
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)
Continuing operations $ (0.06 $ 0.50 $ (0.50) $ (0.14)
Discontinued operations   0.03   0.14   2.29   1.02
$ (0.03) $ 0.64 $ 1.79 $ 0.88
Weighted average number of shares outstanding (in thousands)
Basic 30,804 30,591 30,771 30,788
Diluted   30,804   30,774   30,771   30,788


SIERRA WIRELESS, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

    December 31, 2013   December 31, 2012
Assets  
Current assets
Cash and cash equivalents $ 177,416 $ 63,646
Short-term investments 2,470
Accounts receivable, net of allowance for doubtful accounts of $2,279 (December 31, 2012 - $2,435) 112,490 108,624
Inventories 8,253 12,675
Deferred income taxes 2,391 22,199
Prepaids and other 28,741 24,252
Assets held for sale     54,340
331,761 285,736
Property and equipment 21,982 20,039
Intangible assets 43,631 56,357
Goodwill 102,718 97,961
Deferred income taxes 7,176 3,880
Other assets   4,732   790
  $ 512,000 $ 464,763
 
Liabilities
Current liabilities
Accounts payable and accrued liabilities $ 124,846 $ 128,216
Deferred revenue and credits 2,481 1,312
Liabilities held for sale     10,353
127,327 139,881
Long-term obligations 21,550 26,526
Deferred income taxes   127   300
    149,004   166,707
Equity
Shareholders’ equity

Common stock: no par value; unlimited shares authorized; issued and outstanding 31,097,844 shares
(December 31, 2012 - 30,592,423 shares)

329,628 322,770

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)
    362,996   298,056
  $ 512,000 $ 464,763



SIERRA WIRELESS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands of U.S. dollars)

    Three months ended December 31,   Twelve months ended December 31,
  2013   2012 2013   2012
Cash flows provided by (used in):
Operating activities
Net earnings $ (867) $ 19,606 55,038 $ 27,199
Items not requiring (providing) cash
Amortization 7,146 7,795 28,296 28,590
Stock-based compensation 2,177 1,703 9,347 6,713
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
Other (1,288) (1,188) (2,687) (2,414)
Taxes paid related to net settlement of equity awards (66) (408) (4)
Changes in non-cash working capital
Accounts receivable (17,965) 10,768 10,897 (616)
Inventories (696) 1,108 11,908 (4,019)
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
Investing activities
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)
Financing activities
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

  3,110   (160) (1,975)   (9,365)
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)
  2013  

2012

Q4   Q3   Q2   Q1   Q4   Q3   Q2   Q1
 
Gross margin - GAAP $ 38,443 $ 37,346 $ 36,474 $ 33,378 $ 36,233 $ 31,086 $ 30,081 $ 27,874
Stock-based compensation   119     117     95     75     61     82     78     83
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)
Stock-based compensation 2,177 2,145 2,013 1,655 1,470 1,462 1,403 1,446
Acquisition 369 139 387 2,196 599
Restructuring 14 14 26 117 42 498 1,531 180
Integration 27
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
Adjusted EBITDA $ 6,159   $ 5,870   $ 4,873   $ 1,800   $ 7,014   $ 3,238   $ 2,357   $ 36
 
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.

SEGMENTED RESULTS

  (In thousands of U.S. dollars)
  2013   2012 (1)
Total   Q4   Q3   Q2   Q1     Total   Q4   Q3   Q2   Q1
OEM Solutions
Revenue $ 382,016 $ 101,858 $ 95,850 $ 95,076 $ 89,232 $ 346,543 $ 94,874 $ 88,270   $ 83,299 $ 80,100  
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 $ 115,149     $ 29,522     $ 29,455     $ 29,562     $ 26,610       $ 100,259   $ 28,850     $ 25,098       $ 24,455     $ 21,856    
Gross margin % 30.1 % 29.0 % 30.7 % 31.1 % 29.8 % 28.9 % 30.4 % 28.4 % 29.4 % 27.3 %
 
Enterprise Solutions
Revenue $ 59,844 $ 16,750 $ 16,412 $ 14,513 $ 12,169 $ 50,778 $ 14,531 $ 11,913 $ 12,099 $ 12,235
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 $ 30,492     $ 8,921     $ 7,891     $ 6,912     $ 6,768       $ 25,015   $ 7,383     $ 5,988       $ 5,626     $ 6,018  
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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We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
SYS-CON Events announces a new pavilion on the Cloud Expo floor where WebRTC converges with the Internet of Things. Pavilion will showcase WebRTC and the Internet of Things. 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.
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridsto...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at Internet of @ThingsExpo, Andrew Bolwell, Director of Innovation for HP’s Printing and Personal Systems Group, will discuss how key attributes of mobile technology – touch input, senso...
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at Internet of @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., will show what is needed to leverage the IoT to transform your business. He will discuss opportunities and challenges ahead for the IoT from a market and tec...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
SYS-CON Events announced today that O'Reilly Media has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurring their adoption by amplifying "faint signals" from the alpha geeks who are creating the future. An...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
As a disruptive technology, Web Real-Time Communication (WebRTC), which is an emerging standard of web communications, is redefining how brands and consumers communicate in real time. The on-going narrative around WebRTC has largely been around incorporating video, audio and chat functions to apps. In his session at Internet of @ThingsExpo, Alex Gouaillard, Founder and CTO of Temasys Communications, will look at a fourth element – data channels – and talk about its potential to move WebRTC beyond browsers and into the Internet of Things.