|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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SYS-CON Events announced today that ActiveState, the leading independent Cloud Foundry and Docker-based PaaS provider, has been named “Silver Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. ActiveState believes that enterprises gain a competitive advantage when they are able to quickly create, deploy and efficiently manage software solutions that immediately create business value, but they face many challenges that prevent them from doing so. The Company is uniquely positioned to help address these challenges thro...
Jan. 25, 2015 11:00 AM EST Reads: 2,753
“The age of the Internet of Things is upon us,” stated Thomas Svensson, senior vice-president and general manager EMEA, ThingWorx, “and working with forward-thinking companies, such as Elisa, enables us to deploy our leading technology so that customers can profit from complete, end-to-end solutions.” ThingWorx, a PTC® (Nasdaq: PTC) business and Internet of Things (IoT) platform provider, announced on Monday that Elisa, Finnish provider of mobile and fixed broadband subscriptions, will deploy ThingWorx® platform technology to enable a new Elisa IoT service in Finland and Estonia.
Jan. 25, 2015 11:00 AM EST Reads: 2,103
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
Jan. 25, 2015 10:45 AM EST Reads: 4,600
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...
Jan. 25, 2015 10:30 AM EST Reads: 3,557
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize supplier management. Learn about enterprise architecture strategies for designing connected systems tha...
Jan. 25, 2015 10:00 AM EST Reads: 4,489
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
Jan. 25, 2015 10:00 AM EST Reads: 3,391
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 25, 2015 09:30 AM EST Reads: 3,273
Recurring revenue models are great for driving new business in every market sector, but they are complex and need to be effectively managed to maximize profits. How you handle the range of options for pricing, co-terming and proration will ultimately determine the fate of your bottom line. In his session at 15th Cloud Expo, Brendan O'Brien, Co-founder at Aria Systems, session examined: How time impacts recurring revenue How to effectively handle customer plan changes The range of pricing and packaging options to consider
Jan. 25, 2015 09:00 AM EST Reads: 3,876
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
Jan. 25, 2015 02:00 AM EST Reads: 4,200