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Luby's Reports Third Quarter Fiscal 2013 Results

HOUSTON, June 12, 2013 /PRNewswire/ -- Luby's, Inc. (NYSE: LUB) ("Luby's") today announced its unaudited financial results for its twelve-week third quarter fiscal 2013, which ended on May 8, 2013.

Chris Pappas, President and CEO, remarked, "We continue to grow our brands. Fiscal year-to-date, we have opened one Luby's Cafeteria and six Fuddruckers and we currently have three more locations in various stages of construction.  One of those is a Luby's Cafeteria where we just completed construction and we are getting ready to open before the end of June.  This is a location in South Texas where we are relocating the cafeteria to a high traffic freestanding location from its current inline space.  We anticipate opening three to five new restaurants before the end of calendar 2013.  These openings will include a new Luby's cafeteria, a Fuddruckers next to an existing Luby's, as well as another side-by-side Luby's and Fuddruckers. We currently have a pipeline for the construction and opening of 12 restaurants; most of these should be open by the end of fiscal 2014.

"The integration of our newly acquired Cheeseburger in Paradise operations is progressing as planned. Our top priority is to enrich the customer experience by upgrading and streamlining the menu, as well as enhancing the level of service.  Over time, we believe that we can take the operations at Cheeseburger in Paradise to a higher level, while improving operating results.

"Our Fuddruckers franchise pipeline also continues to grow.  Existing agreements with new and existing franchise owners amount to 23 potential Fuddruckers openings over the next several years.  Domestically, our franchise network will expand in areas ranging from South Florida to Nebraska to North Dakota, and internationally, we have already announced a multi-unit deal in Panama and Aruba.

"As we moved through the third quarter, customer traffic and sales trends have marginally improved.  We see solid opportunities ahead as our company is now in the early stages of a new growth phase." 

2013 Third Fiscal Quarter Review

  • Restaurant sales increased 17.5% to $91.6 million, compared to $77.9 million in the same quarter last fiscal year, largely due to the $11.4 million contribution from Cheeseburger in Paradise, which was acquired in December 2012.  New stores, restaurants open fewer than 18 accounting periods and thus not included in our same-store grouping, contributed $3.1 million.  These sales increases were partially offset by the absence of $0.8 million in sales from the closure of three stores over the past year.  A modest same-store sales decline reduced restaurant sales by less than $0.1 million.  The 94 Luby's locations generated $55.4 million in restaurant sales and the 63 company-operated Fuddruckers produced $24.2 million. Koo Koo Roo locations contributed $0.5 million in restaurant sales.

 

Table 1: Restaurant Sales (In thousands)






Q3 FY2013
12 Weeks
Ended
5/8/2013

Q3 FY2012
12 Weeks
Ended
5/9/2012


% Change

Luby's Restaurants 1

$    55,426

$   54,622


1.5%

Fuddruckers and Koo Koo Roo2

24,736

23,321


6.1%

Cheeseburger in Paradise

11,431

-



Restaurant Sales

$     91,593

$   77,943


17.5%


(1) 94 stores at the end of Q3-2013; 93 stores at the end of Q3-2012. 


(2) 65 stores at the end of Q3-2013; 61 stores at the end of Q3-2012.

 

  • Same-store sales declined 0.1%.  Same-store sales results include the 150 restaurants (93 Luby's Restaurants and 55 Fuddruckers and 2 Koo Koo Roo locations) that have been open for 18 consecutive accounting periods. Same-store sales at Luby's Cafeterias declined 0.1%, as the average spend per person increased 0.9% and customer traffic declined 1.1%. At Fuddruckers, same-store sales increased 0.5%, as average spend per customer grew 2.7% and customer traffic declined 2.1%. Excluding the sales declines at the two Koo Koo Roo locations, same-store sales were flat with the prior year. Fuddruckers franchise units totaled 117 at the end of the third quarter. Franchise revenue declined less than $0.1 million in the quarter, primarily due to a decrease in non-royalty income.  

 

  • Table 2: Same-Store Sales by Quarter






Q1

Q2

Q3

Q4

Full Year

FY2013 Same-Store Sales:

0.2%

(0.6%)

(0.1%)



FY2012 Same-Store Sales:

3.5%

2.2%

1.1%

2.4%

2.2%

 

  • Store level profit, defined as restaurant sales less cost of food, payroll and related costs and other operating expenses, rose to $13.5 million in the third quarter of fiscal 2013, or 14.8% of restaurant sales, from $13.4 million, or 17.2% of restaurant sales in the third quarter of fiscal 2012.  Store level profit as a percentage of restaurant sales declined largely due to lower overall store level margins at Cheeseburger in Paradise. Without Cheeseburger in Paradise, the comparable store level profit margin would have been 16.6%. At our legacy restaurants, we also experienced rising food costs, as well as an increase in marketing expenditures and to lesser extent higher utilities, maintenance and restaurant service costs.  These increased expenses were partially offset by lower insurance expense. Store level profit is a non-GAAP measure and reconciliation to income from continuing operations is presented after the financial statements.
  • We generated income from continuing operations of $2.6 million, or $0.09 per share, compared to $2.5 million, or $0.09 per share, in the same quarter last fiscal year. Results in each of fiscal 2013 and 2012 included various special items as outlined in the chart below.

 

Table 3: Reconciliation of income from continuing operations to income (loss) from continuing operations, before special items (1,2)






Q3 FY2013


Q3 FY2012

Item

Amount ($000s)

Per Share ($)


Amount ($000s)

Per Share ($)

Income from Continuing Operations

$         2,611

$   0.09


$            2,500

$        0.09

Loss on disposal of assets

168

0.01


82

0.00

Cheeseburger Integration Costs

47





Income from Continuing Operations, before special items

$        2,826

$   0.10


$            2,582

$        0.09



(1)

The Company uses income from continuing operations, before special items, in analyzing its results, which is a non-GAAP financial measure. This information should be considered in addition to the results presented in accordance with GAAP, and should not be considered a substitute for the GAAP results. The Company has reconciled income from continuing operations, before special items, to income from continuing operations, the nearest GAAP measure in context.

(2)

Per share amounts are per diluted share after tax.

 

Revenue Items
Total sales were $97.5 million in the third quarter fiscal 2013, up $13.4 million from $84.1 million in the comparable quarter in the prior fiscal year.  Revenue from Culinary Contract Services declined to $4.1 million in the third quarter fiscal 2013 compared to $4.3 million in the same quarter last fiscal year with a change in the mix of locations where we operate.  At the end of the third quarter fiscal 2013, we operated 19 facilities, an increase from 18 facilities at the end of the third quarter fiscal 2012.  Franchise revenue declined less than $0.1 million to $1.6 million in the third quarter fiscal 2013 primarily related to a decrease in non-royalty related fee income.

Operating Expense Review
Food costs as a percentage of restaurant sales increased to 28.6% in the third quarter fiscal 2013 from 27.4% in the comparable quarter last year, due to higher food and beverage costs at Cheeseburger in Paradise, as well as food cost inflation, including an over 6% year-over-year increase in seafood, cheese, eggs, fresh produce and poultry at our Luby's Cafeteria units.  At our Fuddruckers restaurants, on the other hand, we experienced a modest 1% decline in core food commodity costs.

In the third quarter fiscal 2013, payroll and related costs as a percentage of restaurant sales was 33.1%, compared to 33.0% in the third fiscal quarter last year, an increase of only 0.1% despite inclusion of higher labor costs at Cheeseburger in Paradise. Excluding Cheeseburger in Paradise, our payroll and related costs were 32.6%, due to lower restaurant labor and management costs at both Luby's Cafeterias and Fuddruckers restaurants.

Other operating expenses include restaurant-related expenses for utilities, repairs and maintenance, advertising, insurance, supplies, services, and occupancy costs. As a percentage of restaurant sales, other operating expenses rose to 23.5% compared to 22.3% in the same quarter last fiscal year, in part due to the addition of Cheeseburger in Paradise. Excluding Cheeseburger in Paradise, other operating expenses were 22.6%. The year-over-year increase from our Luby's Cafeterias and Fuddruckers operations were due to higher marketing and advertising investments and to a lesser extent higher restaurant utilities, repairs and maintenance, and restaurant services, partially offset by lower insurance expense. Our other operating expense categories were impacted by the ramp up of the eight Fuddruckers restaurants and one Luby's cafeteria that opened since the end of the third quarter fiscal 2012.

Depreciation and amortization expense of $4.2 million in third quarter fiscal 2013 declined from $4.3 million in the same quarter last fiscal year.  The reduction resulted from the decrease in depreciation related to certain assets that reached the end of their depreciable lives offsetting the additional depreciation associated with the Cheeseburger in Paradise assets and the depreciation related to new construction and remodeling activity.

General and administrative expenses were $7.2 million in the third quarter fiscal 2013 level with expenses in the same quarter last fiscal year.  Lower salary, benefits, and incentive were offset by incremental salary and benefits expense related to the acquisition of Cheeseburger in Paradise.  This fiscal year's results also included approximately $0.1 million in first year integration costs associated with Cheeseburger in Paradise.

Capital Expenditures and Balance Sheet
At the end of the third quarter fiscal 2013, we had $1.6 million in cash, $176.5 million in shareholders' equity and $29.5 million available under our credit facility.  We invested $5.6 million in capital expenditures in the third quarter fiscal 2013, including $2.1 million toward construction of new restaurants and $2.2 million for remodeling existing restaurants.  We ended the third quarter fiscal 2013 with $19.5 million in debt, down from the $25.5 million outstanding at the end of the second quarter fiscal year 2013.  Year-to-date we have invested a total of $17.1 million in capital expenditures, including land purchases.

We expect to invest approximately $24 million to $27 million in capital projects during fiscal 2013. The capital will be dedicated to our projected new unit growth, to the remodeling of existing restaurants, and to the on-going maintenance of our operations.  In addition, we have invested $4.5 million so far in fiscal 2013 to acquire land where we are developing restaurants.  Additional land purchases may occur in fiscal 2013 to support our restaurant growth in fiscal 2014. 

Fiscal Year to Date:

  • Luby's generated restaurant sales of $247.7 million during the first three fiscal quarters of 2013. Luby's Cafeterias produced restaurant sales of $161.0 million; Fuddruckers and Koo Koo Roo contributed restaurant sales of $67.5 million, and Cheeseburger in Paradise added $19.2 million to restaurant sales. We generated total restaurant sales of $224.5 million during the comparable quarters in fiscal 2012.
  • Franchise revenue was $4.7 million in the first three quarters of fiscal 2013, declining slightly from $4.8 million in the comparable quarters of fiscal 2012.
  • Luby's Culinary Contract Services produced $11.6 million in sales for the first three quarters of fiscal 2013, a decrease from $13.1 million during the comparable quarters of fiscal 2012.
  • Store level profit declined to $33.3 million in the first three quarters of fiscal 2013, or 13.4% as a percent of restaurant sales. In the comparable period of fiscal 2012, store level profit was $34.6 million, or 15.4% of restaurant sales.

Outlook
The slowing economic environment that we experienced fiscal year to date appears to have moderated some in the third quarter.  We expect our same-store sales results for fiscal year 2013 to be within our previously estimated range of "approximately flat to down 1.0%."  Commensurate with this outlook, we believe restaurant sales for the fiscal year to be within the range of $362 million to $366 million, including a contribution of between $35 million and $36 million from the Cheeseburger in Paradise operation acquired earlier in the fiscal year.  Earnings per diluted share are anticipated to be in the range of $0.19 to $0.22 as the positive contribution from new stores is offset by short term profit margin erosion at our legacy restaurants. Our EPS range has been lowered by $0.02 due to lower estimated sales from Cheeseburger in Paradise.

This outlook is sensitive to changes in economic conditions and the effects of other risks and uncertainties described in the Company's annual and quarterly reports on Forms 10-K and 10-Q filed with the Securities Exchange Commission.

Luby's will continue to expand its geographic footprint and anticipates opening one relocated cafeteria unit by the end of fiscal 2013 and three to five additional units by the end of calendar 2013.

Profitability is contingent on same-store sales growth as well as effective management of our expenses.  We remain cautious about the general political and economic environment and its impact on customer traffic.

Conference Call
Luby's will host a conference call tomorrow, June 13, 2013, at 10:00 a.m., Central Time, to discuss further its third fiscal quarter 2013 results. To access the call live, dial 480-629-9835 and ask for the Luby's conference call at least 10 minutes prior to the start time, or listen live over the Internet by visiting the events page in the investor relations section of www.lubys.com.  For those who cannot listen to the live call, a telephonic replay will be available through June 20, 2013 and may be accessed by calling (303) 590-3030 and using the pass code 4611153#. Also, an archive of the webcast will be available after the call for a period of 90 days on the "Investors" section of the Company's website www.lubysinc.com.

About Luby's
Luby's, Inc. operates restaurants under the brands Luby's Cafeteria, Fuddruckers and Cheeseburger in Paradise and provides food service management through its Luby's Culinary Services division. The company-operated restaurants include 93 Luby's cafeterias, 63 Fuddruckers restaurants, 23 Cheeseburger in Paradise full service restaurants and bars, two Koo Koo Roo Chicken Bistros, and one Bob Luby's Seafood Grill. Its 93 Luby's cafeterias are located throughout Texas and other states. Its Fuddruckers restaurants include 63 company-operated locations and 116 franchises across the United States (including Puerto Rico), Canada, and Mexico.  Luby's Culinary Services provides food service management to 19 sites consisting of healthcare, higher education and corporate dining locations.

This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  All statements contained in this press release, other than statements of historical fact, are "forward-looking statements" for purposes of these provisions, including the statements under the caption "Outlook" and any other statements regarding scheduled openings of units, scheduled closures of units, sales of assets, expected proceeds from the sale of assets, expected levels of capital expenditures, effects of food commodity costs, anticipated financial results in future periods and expectations of industry conditions.

The Company cautions readers that various factors could cause its actual financial and operational results to differ materially from those indicated by forward-looking statements made from time-to-time in news releases, reports, proxy statements, registration statements, and other written communications, as well as oral statements made from time to time by representatives of the Company.  The following factors, as well as any other cautionary language included in this press release, provide examples of risks, uncertainties and events that may cause the Company's actual results to differ materially from the expectations the Company describes in its "forward-looking statements": general business and economic conditions; the impact of competition; our operating initiatives; fluctuations in the costs of commodities, including beef, poultry, seafood, dairy, cheese and produce; increases in utility costs, including the costs of natural gas and other energy supplies; changes in the availability and cost of labor; the seasonality of the Company's business; changes in governmental regulations, including changes in minimum wages; the effects of inflation; the availability of credit; unfavorable publicity relating to operations, including publicity concerning food quality, illness or other health concerns or labor relations; the continued service of key management personnel; and other risks and uncertainties disclosed in the Company's annual reports on Form 10-K and quarterly reports on Form 10-Q.

 

Consolidated Statements of Operations

(In thousands except per share data)




Quarter Ended



Three Quarters Ended




May 8,

2013



May 9,

2012



May 8,

2013



May 9,

2012




(12 weeks)



(12 weeks)



(36 weeks)



(36 weeks)


SALES:













Restaurant sales


$

91,593



$

77,943



$

247,714



$

224,535


Culinary contract services



4,099




4,336




11,607




13,069


Franchise revenue



1,639




1,702




4,701




4,838


Vending revenue



143




148




384




426


TOTAL SALES



97,474




84,129




264,406




242,868


COSTS AND EXPENSES:

















Cost of food



26,227




21,379




70,833




62,642


Payroll and related costs



30,281




25,708




84,627




76,195


Other operating expenses



21,567




17,412




59,002




51,073


Opening costs



39




33




506




110


Cost of culinary contract services



3,573




3,979




10,382




12,222


Depreciation and amortization



4,207




4,304




12,637




12,515


General and administrative expenses



7,236




7,195




22,227




20,742


Provision for asset impairments, net



113







203




175


Net loss (gain) on disposition of property and equipment



142




124




(1,421)




205


Total costs and expenses



93,385




80,134




258,996




235,879


INCOME FROM OPERATIONS



4,089




3,995




5,410




6,989


Interest income



2




3




6




6


Interest expense



(228)




(201)




(618)




(694)


Other income, net



261




238




711




590


Income before income taxes and discontinued operations



4,124




4,035




5,509




6,891


Provision for income taxes



1,513




1,535




2,078




2,464


Income from continuing operations



2,611




2,500




3,431




4,427


Loss from discontinued operations, net of income taxes



(118)




(77)




(605)




(713)


NET INCOME


$

2,493



$

2,423



$

2,826



$

3,714


Income per share from continuing operations:

















Basic


$

0.09



$

0.09



$

0.12



$

0.16


Assuming dilution



0.09




0.09




0.12




0.16


Loss per share from discontinued operations:

















Basic


$



$



$

(0.02)



$

(0.03)


Assuming dilution









(0.02)




(0.03)


Net income per share:

















Basic


$

0.09



$

0.09



$

0.10



$

0.13


Assuming dilution



0.09




0.09




0.10




0.13


Weighted average shares outstanding:

















Basic



28,698




28,377




28,566




28,344


Assuming dilution



28,952




28,445




28,786




28,396


 

The following table contains information derived from the Company's Consolidated Statements of Operations expressed as a percentage of sales.  Percentages may not add due to rounding.

 



Quarter Ended


Three Quarters Ended




May 8,


May 9,


May 8,


May 9,




2013


2012


2013


2012




(12 weeks)


(12 weeks)


(36 weeks)


(36 weeks)






Restaurant sales



94.0

%


92.6

%


93.7

%


92.5

%

Culinary contract services



4.2

%


5.2

%


4.4

%


5.4

%

Franchise revenue



1.7

%


2.0

%


1.8

%


2.0

%

Vending revenue



0.1

%


0.2

%


0.1

%


0.2

%

TOTAL SALES



100

%


100

%


100

%


100

%















COSTS AND EXPENSES:














(As a percentage of restaurant sales)














Cost of food



28.6

%


27.4

%


28.6

%


27.9

%

Payroll and related costs



33.1

%


33.0

%


34.2

%


33.9

%

Other operating expenses



23.5

%


22.3

%


23.8

%


22.7

%

Store level profit



14.8

%


17.2

%


13.4

%


15.4

%















(As a percentage of total sales)














General and administrative expenses



7.4

%


8.6

%


8.4

%


8.5

%

INCOME FROM OPERATIONS



4.2

%


4.7

%


2.0

%


2.9

%

 

 

Consolidated Balance Sheets

(In thousands)




May 8,

2013



August 29,

2012




(Unaudited)





ASSETS







Current Assets:







Cash and cash equivalents


$

1,621



$

1,223


Trade accounts and other receivables, net



3,273




4,000


Food and supply inventories



4,909




3,562


Prepaid expenses



2,891




3,008


Assets related to discontinued operations



36




42


Deferred income taxes



1,908




1,932


Total current assets



14,638




13,767


Property held for sale



602




602


Assets related to discontinued operations



5,085




4,844


Property and equipment, net



182,057




173,633


Intangible assets, net



25,962




26,679


Goodwill



2,069




195


Deferred incomes taxes



7,541




9,354


Other assets



4,321




1,943


Total assets


$

242,275



$

231,017











LIABILITIES AND SHAREHOLDERS' EQUITY









Current Liabilities:









Accounts payable


$

16,421



$

14,849


Liabilities related to discontinued operations



425




442


Accrued expenses and other liabilities



21,022




20,646


Total current liabilities



37,868




35,937


Credit facility debt



19,500




13,000


Liabilities related to discontinued operations



287




1,133


Other liabilities



8,152




8,288


Total liabilities



65,807




58,358


Commitments and Contingencies









SHAREHOLDERS' EQUITY









Common stock, $0.32 par value; 100,000,000 shares authorized; Shares issued were 28,760,702 and 28,677,203, respectively; Shares outstanding were 28,260,702 and 28,177,203, respectively



9,203




9,176


Paid-in capital



25,488




24,532


Retained earnings



146,552




143,726


Less cost of treasury stock, 500,000 shares



(4,775)




(4,775)


Total shareholders' equity



176,468




172,659


Total liabilities and shareholders' equity


$

242,275



$

231,017


 

The accompanying notes are an integral part of these consolidated financial statements

 

Consolidated Statements of Cash Flows

(In thousands)





Three Quarters Ended




May 8,

2013



May 9,

2012




(36 weeks)



(36 weeks)


CASH FLOWS FROM OPERATING ACTIVITIES:







Net income


$

2,826



$

3,714


Adjustments to reconcile net income to net cash provided by operating activities:









Provision for asset impairments, net of gains/losses on property sales



(686)




907


Depreciation and amortization



12,675




12,570


Amortization of debt issuance cost



78




77


Non-cash compensation expense



249




185


Share-based compensation expense



697




424


Tax increase on stock options



37





Deferred tax expense



1,056




1,604


Cash provided by operating activities before changes in operating assets and liabilities



16,932




19,481


Changes in operating assets and liabilities, net of business acquisition:









Decrease in trade accounts and other receivables, net



820




1,081


Increase in food and supply inventories



(786)




(856)


Decrease in prepaid expenses and other assets



740




49


(Decrease) increase in accounts payable, accrued expenses and other liabilities



(991)




959


Net cash provided by operating activities



16,715




20,714


CASH FLOWS FROM INVESTING ACTIVITIES:









Proceeds from disposal of assets and property held for sale



4,232




2,586


Purchases of property and equipment



(17,071)




(16,056)


Acquisition of Cheeseburger in Paradise



(10,257)





Decrease (increase) in note receivable



30




(187)


Net cash used in investing activities



(23,066)




(13,657)


CASH FLOWS FROM FINANCING ACTIVITIES:









Credit facility borrowings



44,600




31,400


Credit facility repayments



(38,100)




(38,400)


Proceed from exercise of stock options



249





Debt issuance costs






(1)


Net cash provided by (used in) financing activities



6,749




(7,001)


Net increase in cash and cash equivalents



398




56


Cash and cash equivalents at beginning of period



1,223




1,252


Cash and cash equivalents at end of period


$

1,621



$

1,308


Cash paid for:









Income taxes


$



$


Interest



513




600


 

The accompanying notes are an integral part of these consolidated financial statements.

Although store level profit, defined as restaurant sales less cost of food, payroll and related costs and other operating expenses is a non-GAAP measure, we believe its presentation is useful because it explicitly shows the results of our most significant reportable segment. The following table reconciles between store level profit, a non-GAAP measure to income from continuing operations, a GAAP measure:

 












Quarter Ended


Three Quarters Ended



May 8,

2013


May 9,

2012


May 8,

2013


May 9,

2012







(12 weeks)


(12 weeks)


(36 weeks)


(36 weeks)



(In thousands)









Store level profit

$           13,518


$           13,444


$        33,252


$           34,625









Plus:








Sales from vending revenue

143


148


384


426

Sales from culinary contract services

4,099


4,336


11,607


13,069

Sales from franchise revenue

1,639


1,702


4,701


4,838









Less:








Opening costs

39


33


506


110

Cost of culinary contract services

3,573


3,979


10,382


12,222

Depreciation and amortization

4,207


4,304


10,382


12,222

General and administrative expenses

7,236


7,195


22,227


20,742

Provision for asset impairments, net

113



203


175

Net (gain) loss on disposition of property and equipment interest

142


124


(1,421)


205

Interest income

(2)


(3)


(6)


(6)

Interest expense

228


201


618


694

Other income, net

(261)


(238)


(711)


(590)

Provision for income taxes

1,513


1,535


2,078


2,464









    Income from continuing operations

$             2,611


$             2,500


$          3,431


$             4,427


















 

For additional information contact:

Dennard-Lascar Associates
713-529-6600
Ken Dennard / Sheila Stuewe
Investor Relations

SOURCE Luby's, Inc.

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WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
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SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
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 Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
SYS-CON Media announced today that Skytap blog on "DevOps Journal" exceeded 84,000 story reads. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Noel Wurst is the managing content editor at Skytap. Skytap provides SaaS-based dev/test environments to the enterprise. Skytap solution removes the inefficiencies and constraints that comp...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...