Click here to close now.

SYS-CON MEDIA Authors: Yeshim Deniz, Pat Romanski, Carmen Gonzalez, Liz McMillan, Roger Strukhoff

News Feed Item

Primary Energy Reports Third Quarter 2012 Results

OAK BROOK, IL, Nov. 6, 2012 /PRNewswire/ - Primary Energy Recycling Corporation (the "Company" or "Primary Energy") (TSX: PRI), a clean energy company that generates revenue from capturing and recycling recoverable heat and byproduct fuels from industrial processes, today announced its financial and operational results for the three and nine months ended September 30, 2012.

Financial Results                        
(in 000's of US$)                        
    Three Months Ended September 30,    Nine Months Ended September 30,
    2012   2011   2012   2011
                         
Revenues    $ 13,660    $ 13,808    $ 40,447    $ 39,903
Operations and maintenance expense     4,422     3,159     12,798     10,025
Operating income (loss)      1,193     3,479     (1,883)     4,974
Net (loss) income and comprehensive (loss) income     (213)     428     (5,114)     (2,512)
EBITDA (1)     7,498     9,738     17,022     27,444
Adjusted EBITDA (2)     9,149     10,138     27,377     28,544
Net cash provided by operating activities     5,409     7,012     12,054     23,610
Free Cash Flow (3)     1,255     6,716     332     19,186
Cash and cash equivalents     30,281     21,605     -     -
Credit facility debt balance     83,156     50,626     -     -

 

Third Quarter Highlights

  • Implemented a new dividend policy to pay a US$0.20 per share annual dividend, payable quarterly.  A quarterly dividend payment of US$0.05 was declared with a record date of November 15, 2012 and a payment date of November 30, 2012;
  • Average availability of facility operations was strong at 99.1%; 
  • Portside's boiler turn down project is substantially complete and operating as expected.  The Portside condensing economizer is on schedule and on budget;
  • North Lake's upgrades are substantially complete and on budget. Performance testing and final check out of all systems is expected to be completed in the fourth quarter of 2012.
  • Contract renewal discussions with the site host for Cokenergy continued. The current contract expires in October of 2013;
  • Harbor Coal volumes remain below normal due to low cost natural gas.

"The announcement of our new dividend policy improved the liquidity of the Company's shares," said John Prunkl, President and Chief Executive Officer of Primary Energy. "The transition to self-management has gone smoothly, and the corporate costs are about the same as the costs experienced under the prior third party manager arrangement.  For the short term, the renewal of the Cokenergy contract remains our primary focus."

Operational Highlights        
    Q3 2012   Q3 2011
         
Total Gross Electric Production Megawatt Hours (MWh) (4)   354,942   375,406
Total Thermal Energy Delivered (MMBtu) (5)   996,276   971,103
Harbor Coal Utilization (%) (6)   68.4%   89.9%

 

Third Quarter 2012 Financial Results

The Company's revenue of $13.7 million in the third quarter of 2012 decreased $0.1 million, or 1.1%, compared with revenue of $13.8 million for the third quarter of 2011. The North Lake facility had reduced host operations during the third quarter of 2012 compared to the third quarter of 2011 which had a negative impact on Energy Service revenue of $0.2 million. This decrease was partially offset by increased revenue at the Portside facility associated with increased operating levels at the host site.

The Company's revenue of $40.4 million in the first nine months of 2012 increased $0.5 million, or 1.4%, compared with revenue of $39.9 million for the first nine months of 2011.  Revenue increased at the North Lake and Ironside facilities as a result of increased host operations in the current year.

Operations and maintenance expense for the third quarter of 2012 was $4.4 million compared to $3.2 million for the third quarter of 2011, an increase of $1.2 million or 40%.  The Company incurred periodic costs during the third quarter of 2012 comprised of $1.2 million for boiler retubing work and $0.2 million for ductwork repairs compared to periodic costs for the third quarter of 2011 totaling $0.4 million for boiler retubing work. In addition, the Company incurred $0.2 million of additional general operations and maintenance expenses during the quarter.

Operations and maintenance expense for the first nine months of 2012 was $12.8 million compared to $10.0 million for the first nine months of 2011, an increase of $2.8 million or 27.7%.  The Company incurred periodic costs for the first nine months of 2012 comprised of $3.3 million for boiler retubing work and $0.6 million for ductwork repairs compared to periodic costs for the first nine months of 2011 totaling $1.1 million for boiler retubing work.

Equity in earnings of the Harbor Coal joint venture for the third quarter of 2012 was $0.5 million compared to $1.0 million for the third quarter of 2011, a decrease of $0.5 million.  Equity in earnings of the Harbor Coal joint venture for the first nine months of 2012 was $1.8 million compared to $3.1 million for the first nine months of 2011, a decrease of $1.3 million.  The decreases noted are the result of reduced pulverized coal deliveries in favor of natural gas injection due to its low cost.

Operating income for the third quarter of 2012 was $1.2 million compared to $3.5 million for the third quarter of 2011, a decrease of $2.3 million.  Operating loss for the first nine months of 2012 was $1.9 million compared to operating income of $5.0 million for the first nine months of 2011, a decrease of $6.9 million. The largest driver impacting year to date results was the $6.0 million fee paid to terminate the Management Agreement at time of the buy-out of the non-controlling interest.

Net loss and comprehensive loss for the third quarter of 2012 was $0.2 million compared to net income and comprehensive income of $0.4 million for the third quarter of 2011, a decrease of $0.6 million.  Net loss and comprehensive loss for the first nine months of 2012 was $5.1 million compared to $2.5 million for the first nine months of 2011, an increase of $2.6 million.

Conference Call and Webcast

Management will host a conference call to discuss the third quarter results on Wednesday, November 7, 2012 at 9:00 am ET. Following management's presentation, there will be a question and answer session. To participate in the conference call, please dial (888) 231-8191 or (647) 427-7450.

A digital conference call replay will be available until midnight on November 21, 2012 (ET) by calling (855) 859-2056 or (416) 849-0833. Please enter the passcode 38427835 when instructed. A webcast replay will be available for 90 days by accessing a link through the Investor Information section at www.primaryenergyrecycling.com.

Forward-Looking Statements
When used in this news release, the words "intend", "likely", "anticipate", "expect", "project", "believe", "estimate", "forecast", "outlook" and similar expressions, are intended to identify forward-looking statements, including statements regarding maintenance and capital expenditures Such statements are subject to certain risks, uncertainties and assumptions pertaining, but not limited, to recovery in the steel industry, continued strong performance from the mills we serve consistent with historical patterns, timely renewal of contracts at the Company's facilities, no protracted outages (planned or unplanned) for any of our facilities, operating and maintenance costs and general and administrative costs being similar to recent years except as described in this press release, regulatory parameters, weather and economic conditions and other factors discussed in the Company's public filings available on SEDAR at www.sedar.com. Additional risks and uncertainties not currently known or that are currently deemed to be immaterial may also materially and adversely affect the Company's business operations and outlook. Any of the matters highlighted in the Company's risk factor disclosure could have a material adverse effect on the Company's results of operations, business prospects and outlook, financial condition or cash flow, in which case, the market price or value of the Company's Common Shares could be adversely affected. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.

About Primary Energy Recycling Corporation
Primary Energy Recycling Corporation, headquartered in Oak Brook, Illinois, owns and operates four recycled energy projects and a 50% interest in a pulverized coal facility (collectively, the "Projects"). The Projects have a combined electrical generating capacity of 283 megawatts and a combined steam generating capacity of 1.8M lbs/hour. Primary Energy Recycling Corporation creates value for its customers by capturing and recycling waste energy from industrial and electric generation processes and converting it into reliable and economical electricity and thermal energy for resale back to its customers. For more information, please see www.primaryenergy.com

1As used herein, EBITDA means earnings before interest, taxes, depreciation and amortization and certain other adjustments. EBITDA is reconciled to net (loss) income and comprehensive (loss) income in the table below.  EBITDA is not a recognized measure under IFRS and does not have a standardized meaning prescribed by IFRS. Therefore, EBITDA may not be comparable to similar measures presented by other companies.

2As used herein, references to Adjusted EBITDA are to EBITDA as adjusted for certain non-recurring adjustments for major maintenance/outage work expenses, management agreement termination fee and non-cash stock based compensation that represent recorded expenses based on specific circumstances and are not expected to be part of the Company's ongoing business activity. Adjusted EBITDA is reconciled to net income (loss) and comprehensive income (loss) in the table below. Adjusted EBITDA is not a recognized measure under IFRS and does not have a standardized meaning prescribed by IFRS. Therefore, Adjusted EBITDA may not be comparable to similar measures presented by other companies.

3As used herein, Free Cash Flow means net cash provided by operating activities as adjusted for capital expenditures.  Free Cash Flow is not a recognized measure under IFRS and does not have a standardized meaning prescribed by IFRS. Therefore, Free Cash Flow may not be comparable to similar measures presented by other companies.

4Total Gross Electric Production means the aggregate amount of electricity produced by all of the Company's facilities during the period. The amount is gross generation and is not reduced by internal electric usage of the facilities' auxiliary equipment. The unit of measure is megawatt hours (MWh).  Due to the fixed and variable nature of customer contracts, MWh production cannot be directly tied to financial performance.

5Total Thermal Energy Delivered means the aggregate amount of heat energy contained in the steam and heated water delivered to customers by all of the Company's facilities during the period. The unit of measure is million of British Thermal Units (MMBTU). Due to the fixed and variable nature of customer contracts, MMBTU production cannot be directly tied to financial performance.

6Harbor Coal Utilization is a factor that incorporates the production level of a blast furnace and the amount of coal utilization per unit of blast furnace production as compared to a reference blast furnace production level and coal utilization rate per unit of blast furnace production. The measurement unit is a ratio expressed as a percentage.

Management believes that EBITDA, Adjusted EBITDA, Free Cash Flow, Total Gross Electric Production, Total Thermal Energy Delivered and Harbor Coal Utilization provide useful supplemental information regarding the performance of the Company, facilitate comparisons of historical periods and are indicative of the Company's operating results.  Note, however, that these items are performance measures only, and do not provide any measure of the Company's cash flow or liquidity, and are not a substitute for IFRS financial measures.

Non-IFRS Measures

The Company reports its financial results in accordance with IFRS. The Company's management also evaluates and makes operating decisions using various other measures.  Three such measures are EBITDA, Adjusted EBITDA and Free Cash Flow, which are non-IFRS financial measures. We believe these measures provide useful supplemental information regarding the performance of the Company's business.

Reconcilation of Net (Loss) Income and Comprehensive (Loss) Income                        
  to Adjusted EBITDA                            
(in 000's of US$)       Three Months Ended September 30,   Nine Months Ended September 30,
            2012   2011   2012   2011
                                 
Net (loss) income and comprehensive (loss) income    $ (213)   $ 428   $ (5,114)   $ (2,512)
Adjustment to net (loss) income and comprehensive (loss) income:                        
  Depreciation and amortization       5,296     5,250     15,832     18,943
  Depreciation and amortization included in equity in                         
    earnings of Harbor Coal joint venture     1,009     1,009     3,027     3,027
  Interest expense         1,525     1,518     4,240     5,053
  Deferred finance fees expensed upon extinguishment of debt     -     -     765     -
  Realized and unrealized loss on derivative contracts     292     -     572     4
  Loss on derecognition       -     -     46     500
  Income tax (benefit) expense        (411)     1,533     (2,346)     2,429
EBITDA         $ 7,498   $ 9,738   $ 17,022   $ 27,444
                                 
Adjustments to EBITDA:                            
  Major maintenance (1)       1,471     400     3,957     1,100
  Management agreement termination fee     -     -     6,000     -
  Professional fees related to the buyout of the non-controlling interest     101     -     293     -
  Non-cash stock based compensation     79     -     105     -
Adjusted EBITDA       $ 9,149   $ 10,138   $ 27,377   $ 28,544
                                 
1)  Represents nonrecurring major maintenance expenditures for such items as boiler retubing work and related other maintenance expenditures and ductwork repairs.  
                                 
Reconcilation of Net Cash Provided By Operating Activities                         
  to Free Cash Flow                            
(in 000's of US$)       Three Months Ended September 30,   Nine Months Ended September 30,
            2012   2011   2012   2011
                                 
Net cash provided by operating activities   $ 5,409   $ 7,012   $ 12,054   $ 23,610
                                 
Less: Capital expenditures       (4,184)     (296)     (11,722)     (4,424)
Free Cash Flow       $ 1,225   $ 6,716   $ 332   $ 19,186

 

Primary Energy Recycling Corporation
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(In thousands of U.S. dollars)
                         
                         
ASSETS       September 30, 2012   December 31, 2011
                         
Current assets:            
  Cash and cash equivalents   $ 30,281   $ 20,567
  Accounts receivable      8,646     8,115
  Inventory, net     1,224     987
  Tax receivable     651     565
  Prepaid expenses     1,176     632
  Other current assets     414     -
Total current assets     42,392     30,866
                         
Non-current assets:            
  Property, plant and equipment, net      187,568     180,844
  Intangible assets, net     15,399     24,632
  Restricted cash     3,445     1,930
  Deferred tax asset, net     -     2,519
  Investment in Harbor Coal joint venture     59,707     63,190
  Other non-current assets      92     159
Total assets   $ 308,603   $ 304,140
                         
LIABILITIES AND EQUITY            
                         
Current liabilities:            
  Accounts payable   $ 1,680   $ 1,115
  Short-term debt      9,569     27,304
  Due to affiliates      -     333
  Accrued property taxes     1,338     1,963
  Accrued expenses     6,854     5,503
Total current liabilities     19,441     36,218
                         
Non-current liabilities:            
  Long-term debt      69,160     14,134
  Deferred income tax liability, net     14,738     -
  Interest rate swap      184     -
  Asset retirement obligations      4,451     4,239
Total liabilities     107,974     54,591
                         
                         
Equity                  
                         
Equity attributable to equity owners of the Company            
Common stock: no par value, unlimited shares authorized;             
  44,706,186 issued and outstanding      274,479     274,479
Contributed surplus     37,217     3,316
Accumulated shareholders' deficit     (111,067)     (107,748)
Total equity attributable to equity owners of the Company     200,629     170,047
Non-controlling interest      -     79,502
Total equity     200,629     249,549
Total liabilities and equity   $ 308,603   $ 304,140

 

Primary Energy Recycling Corporation
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands of U.S. dollars, except share and per share amounts)
                                   
                                   
            Three Months Ended September 30,   Nine Months Ended September 30,
            2012     2011   2012   2011
                                   
Revenue:                                
  Capacity         $ 9,018     $ 9,018   $ 27,054   $ 27,054
  Energy service         4,642       4,790     13,393     12,849
              13,660       13,808     40,447     39,903
Expenses:                                
  Operations and maintenance       4,422       3,159     12,798     10,025
  General and administrative       2,082       2,438     6,702     6,917
  Management agreement termination fee     -       -     6,000     -
  Employee benefits          1,216       510     2,731     1,676
  Depreciation and amortization       5,296       5,250     15,832     18,943
  Loss on derecognition        -       -     46     500
Total operating expenses       13,016       11,357     44,109     38,061
                                   
Equity in earnings of Harbor Coal joint venture      549       1,028     1,779     3,132
                                   
Operating income (loss)        1,193       3,479     (1,883)     4,974
                                   
Other expense                               
  Interest expense         (1,525)       (1,518)     (4,240)     (5,053)
  Deferred finance fees expensed upon extinguishment of debt      -       -     (765)     -
  Realized and unrealized loss on derivative                          
    contracts          (292)       -     (572)     (4)
                                   
(Loss) income before income taxes     (624)       1,961     (7,460)     (83)
Income tax benefit (expense)        411       (1,533)     2,346     (2,429)
Net (loss) income and comprehensive (loss) income     $ (213)      $ 428    $ (5,114)    $ (2,512)
                                   
Net (loss) income and comprehensive (loss) income attributable to:                          
  Owners of the Company     $ (213)     $ 745   $ (3,319)   $ (536)
  Non-controlling interest        -       (317)     (1,795)     (1,976)
             $ (213)      $ 428    $ (5,114)    $ (2,512)
                                   
Net (loss) income per share attributable                           
  to owners of the Company:                            
Weighted average number of shares outstanding - basic      44,706,186       44,706,186     44,706,186     44,706,186
Weighted average number of shares outstanding - diluted      44,706,186       45,128,828     44,706,186     44,706,186
Basic and diluted net (loss) income per share attributable to owners of the Company    $ (0.00)      $ 0.02    $ (0.07)    $ (0.01)

 

Primary Energy Recycling Corporation
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(In thousands of U.S. dollars)
                         
  Attributable to equity owners of the Company        
                         
    Common   Contributed   Accumulated       Non-controlling   Total
    stock   surplus   deficit   Total   interest   equity
Balance - January 1, 2011  $ 274,479  $ 3,316  $ (107,784)  $ 170,011  $ 82,028  $ 252,039
                         
Net loss and comprehensive loss                         
  for the nine months ended September 30, 2011   -   -   (536)   (536)   (2,265)   (2,801)
Balance - September 30, 2011  $ 274,479  $ 3,316  $ (108,320)  $ 169,475  $ 79,763  $ 249,238
                         
Balance - January 1, 2012  $ 274,479  $ 3,316  $ (107,748)  $ 170,047  $ 79,502  $ 249,549
                         
Net loss and comprehensive loss                        
  for the nine months ended September 30, 2012   -   -   (3,319)   (3,319)   (1,795)   (5,114)
Buyout of non-controlling interest   -   33,796   -   33,796   (77,707)   (43,911)
Stock compensation expense   -   105   -   105   -   105
Balance - September 30, 2012  $ 274,479  $ 37,217  $ (111,067)  $ 200,629  $ -  $ 200,629

 

Primary Energy Recycling Corporation
CONSOLIDATED STATEMENTS OF CASH FLOWS  
(In thousands of U.S. dollars)  
                                       
                Three Months Ended September 30,   Nine Months Ended September 30,  
                2012   2011   2012   2011  
                                       
CASH FLOWS FROM OPERATING ACTIVITIES:                          
Net (loss) income and comprehensive (loss) income for the period    $ (213)   $ 428   $ (5,114)   $ (2,512)  
Adjustments for:                          
Depreciation and amortization     5,296     5,250     15,832     18,943  
Loss on derecognition     -     -     46     500  
Unrealized loss on derivative contracts     273     -     366     4  
Deferred finance fees expensed upon extinguishment of debt     -     -     765     -  
Equity in earnings of Harbor Coal joint venture     (549)     (1,028)     (1,779)     (3,132)  
Distributions from investment in Harbor Coal joint venture     1,515     2,014     5,262     5,561  
Non-cash interest expense     542     552     1,681     1,882  
Non-cash stock based compensation     79     -     105     -  
Income tax        (493)     1,484     (2,428)     2,380  
                  6,450     8,700     14,736     23,626  
Net change in non-cash working capital balances     (1,041)     (1,688)     (2,682)     (16)  
  Net cash provided by operating activities     5,409     7,012     12,054     23,610  
                                       
CASH FLOWS FROM INVESTING ACTIVITIES:                          
Change in restricted cash     -     207     (1,515)     754  
Capital expenditures     (4,184)     (296)     (11,722)     (4,424)  
  Net cash used in investing activities     (4,184)     (89)     (13,237)     (3,670)  
                                       
CASH FLOWS FROM FINANCING ACTIVITIES:                          
Proceeds from issuance of debt     -     -     85,000     -  
Purchase of the non-controlling interest     -     -     (24,225)     -  
Payments of deferred financing costs     2     -     (5,261)     -  
Repayment of debt     (1,844)     (7,777)     (44,617)     (20,740)  
  Net cash (used in) provided by financing activities     (1,842)     (7,777)     10,897     (20,740)  
Net (decrease) increase in cash     (617)     (854)     9,714     (800)  
                                       
Cash and cash equivalents - beginning of period     30,898     22,459     20,567     22,405  
Cash and cash equivalents - end of period   $ 30,281   $ 21,605   $ 30,281   $ 21,605  
                                       
Supplemental disclosure of cash flow information:                          
Cash paid during the period for interest   $ 972   $ 971   $ 2,537   $ 3,184  
Cash paid during the period for income taxes   $ -   $ 8   $ 168   $ 121  

 

 

SOURCE Primary Energy Recycling Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Container frameworks, such as Docker, provide a variety of benefits, including density of deployment across infrastructure, convenience for application developers to push updates with low operational hand-holding, and a fairly well-defined deployment workflow that can be orchestrated. Container frameworks also enable a DevOps approach to application development by cleanly separating concerns between operations and development teams. But running multi-container, multi-server apps with containers ...
Software development, like manufacturing, is a craft that requires the application of creative approaches to solve problems given a wide range of constraints. However, while engineering design may be craftwork, the production of most designed objects relies on a standardized and automated manufacturing process. By contrast, much of moving an application from prototype to production and, indeed, maintaining the application through its lifecycle has often remained craftwork. In his session at Dev...
Software Development Solution category in The 2015 American Business Awards, and will ultimately be a Gold, Silver, or Bronze Stevie® Award winner in the program. More than 3,300 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration. "We are honored to be recognized as a leader in the software development industry by the Stevie Awards judges," said Steve Brodie, CEO of Electric Cloud. "We introduced ElectricFlow and our Deploy app...
SYS-CON Events announced today that DragonGlass, an enterprise search platform, 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. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data...
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, will discuss IoE and the enormous opportunities it provides to public and private firms alike. She will shar...
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will address the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affec...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enter...
SYS-CON Events announced today that EnterpriseDB (EDB), the leading worldwide provider of enterprise-class Postgres products and database compatibility solutions, 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. EDB is the largest provider of Postgres software and services that provides enterprise-class performance and scalability and the open source freedom to divert budget from more costly traditiona...
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
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 a...
Organizations today are confounded by an avalanche of data that needs to be processed and managed on a daily basis. Through relevant use cases and a thought-provoking dialogue on an organization’s ‘Data to Decisions’ journey, Andrew Clyne, Chief Data Officer at CenturyLink Cognilytics, will reveal in his session at Big Data Expo how your organization can monetize data as a strategic asset. State-of-the-art Big Data and Advanced Analytics capabilities provided as a managed service can enable da...
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immed...
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.