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Susser Petroleum Partners LP Reports Third Quarter 2012 Results

Announces Initial Quarterly Distribution

HOUSTON, Nov. 7, 2012 /PRNewswire/ -- Susser Petroleum Partners LP (NYSE: SUSP), a wholesale distributor of motor fuels, today reported financial and operating results for the third quarter ended September 30, 2012.

Pro Forma Results of Operations

Susser Petroleum Partners (SUSP or the Partnership) completed its initial public offering of common units representing limited partnership interests on September 25, 2012, and is providing certain actual and pro forma results for the three- and nine- month periods ended September 30, 2011 and 2012.  The pro forma results show actual gallons sold but reflect revenues and gross margins as if the Partnership had completed its initial public offering and related transactions and had been operating as an independent entity under its current contractual arrangements with affiliates since January 1, 2011.  Additional detail regarding our pro forma adjustments are included in the attached statements. Management believes the pro forma presentation provides investors with a more relevant comparison to historical and future periods as opposed to actual results. 

For the third quarter of 2012, pro forma total revenue increased 12 percent to $1.1 billion compared to $993.3 million in the third quarter of 2011.  The increase was driven primarily by an 11 percent increase in total gallons sold and a 0.9 percent increase in the average selling price per gallon.  Of the total third quarter pro forma revenues, 66.6 percent was from motor fuel sales to affiliates, 33.2 percent was from motor fuel sales to other third-parties, 0.1 percent came from rental income, and 0.1 percent was from other income. 

Affiliate customers as of September 30, 2012 include 552 Stripes® convenience stores operated by our parent company (Susser Holdings Corporation or SUSS), as well as SUSS' sales of motor fuel under consignment arrangements at 88 of its independently operated convenience stores.  Total gallons of motor fuel sold to affiliates during the full third quarter increased 8.2 percent versus the prior-year period to 247.6 million gallons.  Pro forma gross profit on motor fuel sold to affiliates totaled $7.4 million versus $6.9 million in the comparable three-month period last year.  Both periods' pro forma gross profit reflects the contracted margin of 3 cents per gallon (CPG) for fuel sold to Stripes® stores and consignment locations.

Third-party customers of SUSP include 484 independent dealers under long-term fuel supply agreements and approximately 1,300 commercial customers.  Total gallons of motor fuel sold to third parties increased year-over-year by 17.4 percent to 119.8 million gallons for the quarter.  Pro forma gross profit on motor fuel sold to these third-party customers was $5.6 million, or 4.7 CPG, compared to $4.5 million, or 4.4 CPG, in the prior-year period.

Pro forma total gross profit increased by 14.8 percent to $14.6 million for the third quarter of 2012 compared to the prior-year period.  On a weighted average basis, pro forma fuel margin for all gallons sold increased from 3.4 CPG in the third quarter of 2011 to 3.6 CPG in the most recent quarter.

Reported Financial Results

Net income for the full quarter was $3.6 million, which includes the results of Susser Petroleum Company LLC, our accounting predecessor (Predecessor), from July 1, 2012 through September 24, 2012 and the Partnership for the six day period from September 25, 2012 to September 30, 2012.  Limited partners' interest in net income subsequent to the closing of the initial public offering on September 25, representing a six-day period, was $574,000, or $0.03 per common unit.

Adjusted EBITDA totaled $7.7 million for the full quarter.  For the six day period of SUSP operations, Adjusted EBITDA was $666,000 and distributable cash flow was $644,000.  Adjusted EBITDA and distributable cash flow are non-GAAP financial measures.  For additional information, including a reconciliation to the most comparable GAAP measure, please see the tables and disclosures at the end of this news release.

Concurrent with the IPO, SUSP entered into a $250 million revolving credit facility agreement with a syndicate of banks and a $180.7 million term loan and security agreement.  A portion of the $206 million IPO proceeds were invested in short-term marketable securities, which will be used to pre-fund capital expenditures.  At September 30, unused availability on the SUSP revolver was $237.2 million.  At the end of September, SUSP reported $195.5 million of cash and marketable securities on the balance sheet, and its total debt outstanding was $181.8 million, for net debt less cash and marketable securities of ($13.7) million

"We are pleased to be reporting such favorable results of Susser Petroleum Partners for the first time as a publicly traded partnership and to be announcing our first quarterly distribution," said Sam L. Susser, Chairman and Chief Executive Officer. 

"The Partnership is off to a strong start, with robust year-over-year growth in fuel volumes and revenues, reflecting the strength of the Texas economy. We anticipate further opportunities for substantial growth, both through new stores at the Stripes chain and through new relationships with independent dealers and commercial customers, as well as through growing rental income from the purchase and lease-back of newly constructed Stripes stores."

Quarterly Distribution

SUSP announced today that the board of directors of its general partner has approved its first quarterly distribution for the third quarter of 2012 of $0.0285 per unit.  This prorated amount corresponds to six days of its minimum quarterly cash distribution of $0.4375 per unit, or $1.75 on an annualized basis.  The total distribution amount of approximately $624,000 is being paid from distributable cash flow of $644,000 for the six day period.

The proration period is from the closing date of SUSP's initial public offering on September 25 through the end of the quarter on September 30. The distribution will be paid November 29 to unitholders of record on November 19. Immediately prior to the distribution there will be 21,878,872 units outstanding, including all of the Partnership's common and subordinated units.

Factors Affecting Comparability

Reported results of operations for the three-month and nine-month periods ending September 30, 2012 include the results of the Partnership's Predecessor up to September 25, 2012, at which time Susser Petroleum Partners LP assumed operations.  Prior to September 25, 2012, the Predecessor did not charge intercompany gross profit on motor fuel sales to Susser Holdings' Stripes convenience stores. Additionally, not all of the wholesale operations of the Predecessor were contributed to SUSP, such as consignment location fuel sales and the fuel transportation assets and operations.  As a result, actual operating results are not comparable on a period-to-period basis.  

Selected pro forma information is being provided which reflects certain SUSP results as if the current structure and contracts had been in place on January 1, 2011.  Additionally,  a reconciliation of the post-closing period to the full third quarter results can be found in the attached tables.  For additional information, please refer to disclosures in the Partnership's quarterly report on Form 10-Q which will be filed with the Securities and Exchange Commission by November 14th.

Third Quarter Earnings Conference Call

The management teams of SUSP and SUSS will hold a conference call today at 10:00 a.m. ET (9:00 a.m. CT) to discuss third quarter results for both Susser Holdings Corporation (NASDAQ: SUSS) and Susser Petroleum Partners LP. To participate in the call, dial 480-629-9771 10 minutes prior to the call and ask for the Susser conference call. The call will also be accessible live and for later replay via webcast in the Investor Relations section of Susser Holdings' web site at www.susser.com and Susser Petroleum Partners' web site at www.susserpetroleumpartners.com under Events and Presentations.  A telephone replay will be available through November 14 by calling 303-590-3030 and using the pass code 4568290#.

About Susser Petroleum Partners LP

Houston-based Susser Petroleum Partners LP is a publicly-traded partnership formed by Susser Holdings Corporation to engage in the primarily fee-based wholesale distribution of motor fuels to Susser Holdings and third parties. Susser Petroleum Partners distributes over 1.4 billion gallons of motor fuel annually from major oil companies and independent refiners to Susser Holdings' Stripes® convenience stores, independently operated consignment locations, convenience stores and retail fuel outlets operated by independent operators and other commercial customers in Texas, New Mexico, Oklahoma and Louisiana.

Forward-Looking Statements

This news release contains "forward-looking statements" which are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially. For a full discussion of these risks and uncertainties, please refer to the "Risk Factors" section of our Prospectus filed with the Securities and Exchange Commission on September 21, 2012. These forward-looking statements are based on and include our expectations as of the date hereof. Subsequent events and market developments could cause our expectations to change. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if new information becomes available, except as may be required by applicable law.

Qualified Notice

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b).  Brokers and nominees should treat 100 percent of Susser Petroleum Partners' distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Susser Petroleum Partners' distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Contacts: 

Susser Petroleum Partners LP


 Mary Sullivan, Chief Financial Officer


(361) 693-3743, [email protected]




DRG&L


Anne Pearson, Senior Vice President


(210) 408-6321, [email protected]


Ben Burnham, Vice President


(773) 599-3745, [email protected]

 

Financial Statements follow

 

Pro Forma Results

The following presentation reflects the pro forma revenues and gross profit for SUSP had the transactions and contracts related to the IPO occurred as of January 1, 2011.  Specifically, the following pro forma schedules give effect to:

  • the contribution by our Predecessor to us of substantially all of the assets and operations comprising its wholesale motor fuel distribution business (other than its motor fuel consignment business and transportation assets and substantially all of its accounts receivable and payable);
  • the contribution by SUSS and our Predecessor to us of certain convenience store properties;
  • our entry into a fuel distribution contract with SUSS, which provides (i) a three cent fixed profit margin on the motor fuel distributed to SUSS for its Stripes® convenience stores, instead of no margin historically reflected in our Predecessor financial statements and (ii) a three cent fixed profit margin on all volumes sold to SUSS for its independently operated consignment locations, instead of the variable and higher margin received by our Predecessor under consignment contracts; and
  • our entry into the SUSS Transportation Contract and the elimination of revenues and costs associated with the transportation business that were included in our Predecessor's results of operations.

As used in the following table, "affiliates" refers to sales to SUSS for its Stripes® convenience stores and independently operated consignment locations; "third-party" refers to sales to independently operated dealer supply locations and other commercial customers.  



Pro Forma

Three Months Ended


Pro Forma

Nine Months Ended



September 30,

2011


September 30,

2012


September 30,

2011


September 30,

2012



(dollars and gallons in thousands, except motor fuel pricing and gross profit per gallon)

Revenues:








Motor fuel sales to third parties

$

309,160



$

369,354



$

894,705



$

1,094,098


Motor fuel sales to affiliates

682,234



741,532



1,960,520



2,176,767


Rental income

827



837



2,456



2,517


Other income

1,062



1,162



3,341



3,610


Total revenue

$

993,283



$

1,112,885



$

2,861,022



$

3,276,992


Gross profit:








Motor fuel sales to third parties

$

4,461



$

5,639



$

13,248



$

15,676


Motor fuel sales to affiliates

6,866



7,439



19,983



21,896


Rental income

827



837



2,456



2,517


Other

575



693



1,789



2,071


Total gross profit

$

12,729



$

14,608



$

37,476



$

42,160


Operating Data:








Motor fuel gallons sold:








Affiliated gallons

228,877



247,578



666,089



729,447


Third-party dealers and other commercial customers

102,026



119,785



298,553



358,311


Total gallons sold

330,903



367,363



964,642



1,087,758


Motor fuel gross profit cents per gallon:








Affiliated

3.0¢



3.0¢



3.0¢



3.0¢


Third-party

4.4¢



4.7¢



4.4¢



4.4¢


Volume-weighted average for all gallons

3.4¢



3.6¢



3.4¢



3.5¢


Susser Petroleum Partners LP

Consolidated Statements of Operations

Unaudited






Three Months Ended


Nine Months Ended


September 30,

2011


September 30, 2012 (1)


September 30,

2011


September 30, 2012 (2)


Predecessor




Predecessor




(dollars in thousands, except unit and per unit amounts)

Revenues:






Motor fuel sales to third parties

$

397,200



$

458,816



$

1,145,631



$

1,364,361


Motor fuel sales to affiliates

590,538



647,301



1,699,206



1,894,471


Rental income

1,367



1,359



4,101



4,078


Other income

2,758



2,140



6,001



5,871


Total revenues

991,863



1,109,616



2,854,939



3,268,781


Cost of sales:








Motor fuel cost of sales to third parties

389,479



449,486



1,121,622



1,336,351


Motor fuel cost of sales to affiliates

590,538



646,832



1,699,206



1,894,000


Other

310



469



1,552



1,539


Total cost of sales

980,327



1,096,787



2,822,380



3,231,890


Gross profit

11,536



12,829



32,559



36,891


Operating expenses:








General and administrative

2,573



3,035



7,699



8,836


Other operating

1,315



1,036



3,806



4,675


Rent

1,096



1,078



3,271



3,258


Loss (gain) on disposal of assets

70



194



213



229


Depreciation, amortization and accretion

1,480



2,016



3,963



5,793


Total operating expenses

6,534



7,359



18,952



22,791


Income from operations

5,002



5,470



13,607



14,100


Other income (expense):








Interest expense, net

(87)



(113)



(246)



(293)


Income before income taxes

4,915



5,357



13,361



13,807


Income tax expense

(1,778)



(1,739)



(4,837)



(4,813)


Net income and comprehensive income

$

3,137



$

3,618



$

8,524



$

8,994












Less: Predecessor income prior to initial public offering on September 25, 2012




3,044






8,420


Limited partners' interest in net income subsequent to initial public offering




$

574






$

574










Net income per limited partner unit:








Common




$

0.03






$

0.03


Subordinated




$

0.03






$

0.03










Limited partner units outstanding:








Common units - public



10,925,000





10,925,000


Common units - affiliated



14,436





14,436


Subordinated units - affiliated



10,939,436





10,939,436


















(1) Our results for the three months ended September 30, 2012 include the results of our Predecessor from July 1, 2012 through September 24, 2012, and the Partnership for the six day period from September 25, 2012 to September 30, 2012. See the table following these financials for a disaggregation of results between our Predecessor and the Partnership.


(2) Our results for the nine months ended September 30, 2012 include the results of our Predecessor from January 1, 2012 through September 24, 2012, and the Partnership for the six day period from September 25, 2012 to September 30, 2012.

Susser Petroleum Partners LP

Consolidated Balance Sheets






December 31,

2011


September 30,

2012


Predecessor


(unaudited)


(in thousands)

Assets

Current assets:




Cash and cash equivalents

$

240



$

14,810


Marketable securities



180,677


Accounts receivable, net of allowance for doubtful accounts of $167 at December 31, 2011, and $0 at September 30, 2012

31,760



17,164


Receivables from affiliates

106,553



21,025


Inventories, net

7,023



2,834


Other current assets

1,836



3


Total current assets

147,412



236,513


Property and equipment, net

39,049



34,217


Other assets:




Goodwill

20,661



12,936


Intangible assets, net

23,309



23,242


Other noncurrent assets

885



277


Total assets

$

231,316



$

307,185


Liabilities and unitholder's equity




Current liabilities:




Accounts payable

$

98,316



$

51,751


Accrued expenses and other current liabilities

8,010



2,369


Current maturities of long-term debt

22



23


Total current liabilities

106,348



54,143


Long-term debt

1,098



181,747


Deferred tax liability, long-term portion

2,595




Other noncurrent liabilities

5,462



2,645


Total liabilities

115,503



238,535


Commitments and contingencies:




Unitholder's equity:




Susser Petroleum Partners LP unitholder's equity:




Predecessor division equity

115,813




Common unitholders - public (10,925,000 units issued and outstanding)



206,320


Common unitholders - affiliated (14,436 units issued)



(183)


Subordinated unitholders - affiliated (10,939,436 units issued)



(137,487)


Total unitholder's equity

115,813



68,650


Total liabilities and unitholder's equity

$

231,316



$

307,185


















Key Operating Metrics

The following table sets forth, for the periods indicated, information concerning key measures we rely on to gauge our operating performance.  Historical results include our Predecessor's results of operations.  See table below for a disaggregation of results between our Predecessor (prior to September 25, 2012) and the Partnership (beginning September 25, 2012).  The following information is intended to provide investors with a reasonable basis for assessing our historical operations, but should not serve as the only criteria for predicting our future performance.



Three Months Ended

Nine Months Ended


September 30,

2011



September 30,

2012


September 30,

2011


September 30,

2012



Predecessor




Predecessor






(dollars and gallons in thousands, except motor fuel pricing and gross profit per gallon)


Revenues:







Motor fuel sales to third parties

$

397,200



$

458,816



$

1,145,631



$

1,364,361


Motor fuel sales to affiliates

590,538



647,301



1,699,206



1,894,471


Rental income

1,367



1,359



4,101



4,078


Other income

2,758



2,140



6,001



5,871


Total revenue

$

991,863



$

1,109,616



$

2,854,939



$

3,268,781


Gross profit:








Motor fuel gross profit to third parties

$

7,721



$

9,330



$

24,009



$

28,010


Motor fuel gross profit to affiliates



469





471


Rental income

1,367



1,359



4,101



4,078


Other

2,448



1,671



4,449



4,332


Total gross profit

$

11,536



$

12,829



$

32,559



$

36,891


Net income

$

3,137



$

3,618



$

8,524



$

8,994


Adjusted EBITDA(1)

$

6,552



$

7,686



$

17,783



$

20,128


Distributable cash flow (1)

$



$

644



$



$

644


Operating Data:








Total motor fuel gallons sold

330,903



367,362



964,642



1,087,758


Average wholesale selling price per gallon

$

2.98



$

3.01



$

2.95



$

3.00


Motor fuel gross profit cents per gallon (2):








Third-party

5.94¢



6.31¢



6.33¢



6.32¢


Affiliated

0.00¢



0.21¢



0.00¢



0.07¢


Volume-weighted average for all gallons

2.33¢



2.67¢



2.49¢



2.62¢



(1) We define EBITDA as net income before net interest expense, income tax expense and depreciation and amortization expense. Adjusted EBITDA further adjusts EBITDA to reflect certain other non-recurring and non-cash items. We define distributable cash flow as Adjusted EBITDA less cash interest expense, cash state franchise tax expense, maintenance capital expenditures, and other non-cash adjustments. Adjusted EBITDA and distributable cash flow are not financial measures calculated in accordance with GAAP. Distributable cash flow for the three and nine months ended September 30, 2012 does not include results related to our Predecessor prior to September 25, 2012.


(2) For the historical periods presented other, than the six-day period from the completion of the Partnership's IPO September 25, 2012 through September 30, 2012, affiliated sales only include sales to Stripes® convenience stores, for which our Predecessor historically received no margin, and third-party motor fuel gross profit cents per gallon includes the motor fuel sold directly to independently operated consignment locations, as well as sales to third-party dealers and other commercial customers. Following the IPO we sell fuel to SUSS for both Stripes® convenience stores and SUSS' independently operated consignment locations at a fixed profit margin of three cents per gallon. As a result, volumes sold to consignment locations are included in the calculation of third-party motor fuel gross profit cents per gallon in the historical operating data, and in the calculation of affiliated motor fuel gross profit cents per gallon in the pro forma operating data.

We believe EBITDA, Adjusted EBITDA and distributable cash flow are useful to investors in evaluating our operating performance because:

  • they are used as performance and/or liquidity measures under our revolving credit facility;
  • securities analysts and other interested parties use such calculations as a measure of financial performance, ability to make distributions to our unitholders and debt service capabilities;
  • they are used by our management for internal planning purposes, including aspects of our consolidated operating budget, and capital expenditures.

EBITDA, Adjusted EBITDA and distributable cash flow are not recognized terms under GAAP and do not purport to be alternatives to net income (loss) as measures of operating performance or to cash flows from operating activities as a measure of liquidity. EBITDA, Adjusted EBITDA and distributable cash flow have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. Some of these limitations include:

  • they do not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments;
  • they do not reflect changes in, or cash requirements for, working capital;
  • they do not reflect interest expense, or the cash requirements necessary to service interest or principal payments on our  revolving credit facility or term loan;
  • although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA and Adjusted EBITDA do not reflect cash requirements for such replacements; and
  • because not all companies use identical calculations, our presentation of EBITDA, Adjusted EBITDA and distributable cash flow may not be comparable to similarly titled measures of other companies.

The following table presents a reconciliation of net income (loss) to EBITDA and Adjusted EBITDA:


Three Months Ended


Nine Months Ended


September 30,

 2011


September 30,

2012


September 30,

2011


September 30,

2012



Predecessor




Predecessor




(in thousands)


Net income

$

3,137



$

3,618



$

8,524



$

8,994


Depreciation, amortization and accretion

1,480



2,016



3,963



5,793


Interest expense, net

87



113



246



293


Income tax expense

1,778



1,739



4,837



4,813


EBITDA

6,482



7,486



17,570



19,893


Non-cash stock-based compensation



6





6


Loss on disposal of assets and impairment charge

70



194



213



229


Other miscellaneous expense








Adjusted EBITDA

$

6,552



$

7,686



$

17,783



$

20,128



The following table presents a reconciliation of net cash provided by operating activities to EBITDA and Adjusted EBITDA:



Nine Months Ended



September 30,

2011


September 30,

2012



Predecessor






(in thousands)

Net cash provided by operating activities

$

1,801


$


25,912


Changes in operating assets and liabilities

11,446



(8,608)



Amortization of deferred financing fees



(6)



Loss on disposal of assets and impairment charge

(213)



(229)



Non-cash stock-based compensation



(6)



Deferred income tax

(547)



(2,276)



Interest expense, net

246



293



Income tax expense

4,837



4,813



EBITDA

17,570



19,893



Non-cash stock-based compensation



6



Loss on disposal of assets and impairment charge

213



229



Other miscellaneous





Adjusted EBITDA

$

17,783



$

20,128





The following table is a summary of our results of operations for the three months ended September 30, 2012, disaggregated for the periods proceeding and following our IPO:


Susser Petroleum Company LLC Predecessor


Susser Petroleum Partners LP


Three Months Ended

September 30, 2012


Through September 24, 2012


From

September 25, 2012




(in thousands)


Revenues:





Motor fuel sales to third parties

$

434,436



$

24,380



$

458,816


Motor fuel sales to affiliates

601,485



45,816



647,301


Rental income

1,304



55



1,359


Other income

2,033



107



2,140


Total revenue

1,039,258



70,358



1,109,616


Gross profit:






Motor fuel gross profit to third parties

8,998



332



9,330


Motor fuel gross profit to affiliates

3



466



469


Rental income

1,304



55



1,359


Other

1,626



45



1,671


Total gross profit

11,931



898



12,829


Net income

$

3,044



$

574



$

3,618


Adjusted EBITDA(1)

$

7,020



$

666



$

7,686


Distributable cash flow (1)



$

644





(1) Reconciliation of net income to EBITDA, Adjusted EBITDA and distributable cash flow:


Susser Petroleum Company LLC Predecessor


Susser Petroleum Partners LP


Three Months Ended

September 30, 2012


Through September 24, 2012


From

September 25, 2012




(in thousands)













Net income

$

3,044



$

574



$

3,618


Depreciation, amortization and accretion

1,958



58



2,016


Interest expense, net

89



24



113


Income tax expense

1,735



4



1,739


EBITDA

6,826



660



7,486


Non-cash stock-based compensation



6



6


Loss on disposal of assets and impairment charge

194





194


Other miscellaneous expense






Adjusted EBITDA

$

7,020



666



$

7,686


Cash interest expense



(18)




State franchise tax expense (cash)



(4)




Maintenance capital expenditures






Distributable cash flow



$

644




SOURCE Susser Petroleum Partners LP

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Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
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 Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share 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, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
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 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!
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
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 Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
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. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
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. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
With the iCloud scandal seemingly in its past, Apple announced new iPhones, updates to iPad and MacBook as well as news on OSX Yosemite. Although consumers will have to wait to get their hands on some of that new stuff, what they can get is the latest release of iOS 8 that Apple made available for most in-market iPhones and iPads. Originally announced at WWDC (Apple’s annual developers conference) in June, iOS 8 seems to spearhead Apple’s newfound focus upon greater integration of their products into everyday tasks, cross-platform mobility and self-monitoring. Before you update your device, here is a look at some of the new features and things you may want to consider from a mobile security perspective.