|By Business Wire||
|May 1, 2014 04:31 PM EDT||
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW):
First Quarter 2014 highlights from continuing operations
- Record revenue of $121.2 million, an increase of 19.5% compared with Q1 2013
- Adjusted EBITDA of $4.1 million compared with $1.8 million in Q1 2013
- Non-GAAP earnings from operations of $0.7 million compared with a non-GAAP loss from operations of $1.4 million in Q1 2013
Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today reported results for its first quarter ending March 31, 2014. 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 first quarter and also completed the acquisition of In Motion Technology. I believe we are well positioned for continued revenue growth and improving profitability in the second quarter and beyond,” said Jason Cohenour, President and Chief Executive Officer. “We continue to focus on driving profitable organic growth in M2M devices and cloud services, while pursuing additional strategic acquisitions.”
Revenue for the first quarter of 2014 was $121.2 million, an increase of 19.5% compared to $101.4 million in the first quarter of 2013, and an increase of 2.2% compared to $118.6 million in the fourth quarter of 2013. Revenue from OEM Solutions was $106.2 million in the first quarter of 2014, up 19.0% compared to $89.2 million in the first quarter of 2013. Revenue from Enterprise Solutions was $15.0 million (including $1.3 million contribution from In Motion Technology) in the first quarter of 2014, up 23.3% compared to $12.2 million in the first quarter of 2013.
- Gross margin was $38.6 million, or 31.9% of revenue, in the first quarter of 2014, compared to $33.4 million, or 32.9% of revenue, in the first quarter of 2013.
- Operating expenses were $45.3 million and loss from operations was $6.7 million in the first quarter of 2014, compared to operating expenses of $40.3 million and a loss from operations of $6.9 million in the first quarter of 2013.
- Net loss from continuing operations was $4.0 million, or $0.13 per diluted share, in the first quarter of 2014, compared to a net loss from continuing operations of $7.9 million, or $0.26 per diluted share, in the first quarter of 2013.
- Gross margin was 32.0% in the first quarter of 2014, compared to 33.0% in the first quarter of 2013.
- Operating expenses were $38.0 million and earnings from operations were $0.7 million in the first quarter of 2014, compared to operating expenses of $34.9 million and a loss from operations of $1.4 million in the first quarter of 2013.
- Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") were $4.1 million in the first quarter of 2014, compared to $1.8 million in the first quarter of 2013.
- Net earnings from continuing operations were $0.5 million, or $0.02 per diluted share, in the first quarter of 2014, compared to a net loss from continuing operations of $0.7 million, or $0.02 per diluted share, in the first quarter of 2013.
Non-GAAP results exclude the impact of stock-based compensation expense and related social taxes, acquisition costs, gain on sale of the AirCard business, restructuring costs, integration costs, disposition costs, acquisition amortization, impairment, foreign exchange gains or losses on 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 and related social taxes, acquisition costs, restructuring costs, integration costs, impairment, and amortization. The reconciliation between our GAAP and non-GAAP results is provided in the accompanying schedules.
The Company provides the following guidance for continuing operations for the second quarter of 2014.
In the second quarter of 2014 we expect revenue to increase sequentially and on a year-over-year basis, driven by organic growth as well as the addition of revenue for a full quarter from In Motion Technology. We expect gross margin percentage to improve slightly from the first quarter of 2014 and operating expenses to increase, primarily reflecting the addition of In Motion Technology expenses for a full quarter.
|Q2 2014 Guidance||
|Revenue||$128.0 to $131.0 million|
|Earnings from operations||$2.7 to $3.5 million|
|Net earnings||$1.9 to $2.5 million|
|Earnings per share||$0.06 to $0.08 per share|
This non-GAAP guidance for the second 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 Thursday, May 1, 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: 15895706
For those unable to participate in the live call, a replay will be available until June 1, 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.
To access a full copy of our Q1 2014 earnings release, please follow the link below:
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 second 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;
- Unanticipated costs associated with litigation or settlements associated with intellectual property matters; and
- Higher than anticipated costs; disruption of, and demands on, our ongoing business; and diversion of management's time and attention in connection with acquisitions or divestitures.
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 900 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 LOSS
(In thousands of U.S. dollars, except where otherwise stated)
|Three months ended March 31,|
|Cost of goods sold||82,566||68,023|
|Sales and marketing||12,366||10,356|
|Research and development||20,017||18,363|
|Loss from operations||(6,672||)||(6,884||)|
|Foreign exchange gain (loss)||392||(2,370||)|
|Other income (expense)||26||(132||)|
|Loss before income taxes||(6,254||)||(9,386||)|
|Income tax recovery||2,249||1,448|
|Net loss from continuing operations||(4,005||)||(7,938||)|
|Net earnings from discontinued operations||—||1,863|
|Other comprehensive income (loss):|
|Foreign currency translation adjustments, net of taxes of $nil||20||(904||)|
Basic and diluted net earnings (loss) per share attributable to
|Weighted average number of shares outstanding (in thousands)|
SIERRA WIRELESS, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars)
|March 31, 2014||December 31, 2013|
|Cash and cash equivalents||$||151,339||$||177,416|
Accounts receivable, net of allowance for doubtful accounts of
|Deferred income taxes||2,393||2,391|
|Prepaids and other||23,965||28,741|
|Property and equipment||21,076||21,982|
|Deferred income taxes||4,208||7,176|
|Accounts payable and accrued liabilities||$||111,015||$||124,846|
|Deferred revenue and credits||4,155||2,481|
|Deferred income taxes||505||127|
Common stock: no par value; unlimited shares authorized; issued and
Preferred stock: no par value; unlimited shares authorized;
Treasury stock: at cost 81,475 shares (December 31, 2013 – 507,147 shares)
|Additional paid-in capital||21,813||25,996|
|Accumulated other comprehensive loss||(6,838||)||(6,858||)|
SIERRA WIRELESS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of U.S. dollars)
|Three months ended March 31,|
|Cash flows provided by (used in):|
Items not requiring (providing) cash
|Deferred income taxes||2,966||(31||)|
|Gain on disposal of property and equipment||(14||)||—|
|Impairment of assets related to discontinued operations||—||1,004|
|Taxes paid related to net settlement of equity awards||(501||)||(250||)|
|Changes in non-cash working capital|
|Prepaid expenses and other||5,098||(9,044||)|
|Accounts payable and accrued liabilities||(17,238||)||(3,079||)|
|Deferred revenue and credits||52||28|
|Cash flows used in operating activities||(3,895||)||(5,547||)|
|Additions to property and equipment||(1,430||)||(2,199||)|
|Proceeds from sale of property and equipment||37||11|
|Increase in intangible assets||(527||)||(659||)|
|Acquisition of In Motion Technology, net of cash acquired||(22,578||)||—|
|Net change in short-term investments||2,470||—|
|Increase in other assets||(2,748||)||—|
Cash flows used in investing activities
|Issuance of common shares||2,725||2,104|
|Repurchase of common shares for cancellation||—||(1,377||)|
|Decrease in other long-term obligations||(112||)||(627||)|
Cash flows provided by financing activities
|Effect of foreign exchange rate changes on cash and cash equivalents||(19||)||571|
|Cash and cash equivalents, decrease in the period||(26,077||)||(7,723||)|
|Cash and cash equivalents, beginning of period||177,416||63,646|
|Cash and cash equivalents, end of period||$||151,339||$||55,923|
SIERRA WIRELESS, INC.
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
|(in thousands of U.S. dollars, except where otherwise stated)|
|Gross margin - GAAP||$||38,597||$||145,641||$||38,443||$||37,346||$||36,474||$||33,378|
|Stock-based compensation and related social taxes||160||406||119||117||95||75|
|Gross margin - Non-GAAP||$||38,757||$||146,047||$||38,562||$||37,463||$||36,569||$||33,453|
|Loss from operations - GAAP||$||(6,672||)||$||(17,664||)||$||(3,547||)||$||(3,301||)||$||(3,932||)||$||(6,884||)|
|Stock-based compensation and related social taxes||3,304||7,990||2,177||2,145||2,013||1,655|
|Impairment of an asset in R&D||—||280||—||—||—||280|
|Acquisition related amortization||3,118||13,741||3,580||3,405||3,363||3,393|
|Earnings (loss) from operations - Non-GAAP||$||720||$||5,053||$||2,593||$||2,402||$||1,470||$||(1,412||)|
|Amortization (excluding acquisition related amortization)||3,365||13,649||3,566||3,468||3,403||3,212|
|Net earnings (loss) from continuing operations - GAAP||$||(4,005||)||$||(15,550||)||$||(1,945||)||$||1,075||$||(6,742||)||$||(7,938||)|
Stock-based compensation and related social taxes,
|Unrealized foreign exchange loss (gain)||(382||)||(3,912||)||(1,970||)||(2,457||)||(1,359||)||1,874|
|Income tax adjustments||(2,519||)||3,784||925||(895||)||3,754||—|
|Net earnings (loss) from continuing operations - Non-GAAP||$||483||$||6,942||$||3,122||$||3,483||$||1,046||$||(709||)|
|Net earnings (loss) from discontinued operations – GAAP||$||—||$||70,588||$||1,078||$||(505||)||$||68,152||$||1,863|
|Stock-based compensation and disposition costs||—||4,014||3||1,402||876||1,733|
|Gain on sale of AirCard business||—||(70,182||)||(1,056||)||(49||)||(69,077||)||—|
|Net earnings (loss) from discontinued operations - Non-GAAP||$||—||$||4,420||$||25||$||848||$||(49||)||$||3,596|
|Net earnings (loss) - GAAP||$||(4,005||)||$||55,038||$||(867||)||$||570||$||61,410||$||(6,075||)|
|Net earnings (loss) - Non-GAAP||483||11,362||3,147||4,331||997||2,887|
|Diluted earnings (loss) from continuing operations per share|
|GAAP - (in dollars)||$||(0.13||)||$||(0.50||)||$||(0.06||)||$||0.03||$||(0.22||)||$||(0.26||)|
|Non-GAAP - (in dollars)||$||0.02||$||0.23||$||0.10||$||0.11||$||0.03||$||(0.02||)|
|Net earnings (loss) per share - diluted|
|GAAP - (in dollars)||$||(0.13||)||$||1.79||$||(0.03||)||$||0.02||$||2.00||$||(0.20||)|
|Non-GAAP - (in dollars)||$||0.02||$||0.37||$||0.10||$||0.14||$||0.03||$||0.09|
SIERRA WIRELESS, INC.
(In thousands of U.S. dollars, except where otherwise stated)
|Cost of goods sold||75,634||266,867||72,336||66,395||65,514||62,622|
|Gross margin %||28.8%||30.1%||29.0%||30.7%||31.1%||29.8%|
|Cost of goods sold||6,932||29,352||7,829||8,521||7,601||5,401|
|Gross margin %||53.8%||51.0%||53.3%||48.1%||47.6%||55.6%|
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Jun. 27, 2016 12:00 PM EDT Reads: 756
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
Jun. 27, 2016 11:55 AM EDT Reads: 132
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Jun. 27, 2016 10:00 AM EDT Reads: 998
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jun. 27, 2016 09:30 AM EDT Reads: 828
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Jun. 27, 2016 07:30 AM EDT Reads: 994
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Jun. 26, 2016 05:00 PM EDT Reads: 1,307
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Jun. 26, 2016 05:00 PM EDT Reads: 1,214
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Jun. 26, 2016 04:00 PM EDT Reads: 1,271
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Jun. 26, 2016 04:00 PM EDT Reads: 1,329
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
Jun. 26, 2016 02:00 PM EDT Reads: 1,155
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jun. 26, 2016 12:00 PM EDT Reads: 1,296
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jun. 26, 2016 12:00 PM EDT Reads: 1,122
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Jun. 26, 2016 12:00 PM EDT Reads: 1,353
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Jun. 26, 2016 12:00 PM EDT Reads: 1,094
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Jun. 26, 2016 11:00 AM EDT Reads: 1,125
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jun. 26, 2016 09:45 AM EDT Reads: 644
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Jun. 25, 2016 03:00 PM EDT Reads: 1,626
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Jun. 24, 2016 01:00 PM EDT Reads: 1,368
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Jun. 24, 2016 12:00 PM EDT Reads: 1,663
industrial company for a multi-year contract initially valued at over $4.0 million. In addition to DataV software, Bsquare will also provide comprehensive systems integration, support and maintenance services. DataV leverages advanced data analytics, predictive reasoning, data-driven diagnostics, and automated orchestration of remediation actions in order to improve asset uptime while reducing service and warranty costs.
Jun. 22, 2016 11:00 AM EDT Reads: 1,377