SYS-CON MEDIA Authors: Gilad Parann-Nissany, Srinivasan Sundara Rajan, Sean Houghton, Glenn Rossman, Ignacio M. Llorente

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Snap-on Announces Fourth Quarter and Full Year 2013 Results

Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced 2013 operating results for the fourth quarter and full year.

  • Sales of $797.5 million in the quarter increased $44.3 million, or 5.9%, from 2012 levels; excluding $15.2 million of sales from the May 2013 acquisition of Challenger Lifts, Inc. (“Challenger”) and $5.3 million of unfavorable foreign currency translation, organic sales increased 4.6%.
  • Operating earnings before financial services of $123.6 million, or 15.5% of sales, in the quarter compares with $111.4 million, or 14.8% of sales, last year.
  • Financial services operating earnings of $33.0 million in the quarter increased $3.7 million, or 12.6%, from 2012 levels.
  • Consolidated operating earnings of $156.6 million, or 18.5% of revenues (net sales plus financial services revenue), in the quarter increased from $140.7 million, or 17.7% of revenues, last year.
  • Net earnings of $94.5 million, or $1.60 per diluted share, for the quarter compares with net earnings of $84.6 million, or $1.43 per diluted share, a year ago.
  • Full year 2013 sales of $3.1 billion increased 4.0% from 2012 levels; excluding $39.3 million of sales from the Challenger acquisition and $21.6 million of unfavorable foreign currency translation, organic sales increased 3.5%. Full year 2013 net earnings of $350.3 million, or $5.93 per diluted share, compares with 2012 net earnings of $306.1 million, or $5.20 per diluted share.

“Our fourth quarter results, including a 5.9% sales increase and a 15.5% operating margin before financial services, demonstrate continued and balanced progress down our runways for both improvement and growth,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “Despite some meaningful external headwinds throughout 2013, our full year sales reached a new milestone, surpassing $3 billion, and our full year operating margin before financial services of 15.1% reflects a 120 basis point year-over-year improvement. In 2014, we believe we’ll make further advances through Snap-on Value Creation, our suite of principles and processes we employ every day around safety, quality, customer connection, innovation and rapid continuous improvement. At the same time, to reach more and more professionals performing critical tasks wherever and whenever the costs and penalties for failure can be high, we’re continuing to drive forward along our runways for coherent growth: enhancing the franchise network, expanding in the vehicle repair garage, extending to critical industries and building in emerging markets. Finally, our progress in 2013 would not have been possible without the tremendous contributions and efforts of our franchisees and associates worldwide; I thank them all for their significant commitment and extraordinary dedication.”

Segment Results

Commercial & Industrial Group segment sales of $283.2 million in the quarter increased $7.6 million, or 2.8%, from 2012 levels. Excluding $2.8 million of unfavorable foreign currency translation, organic sales in the quarter increased $10.4 million, or 3.8%, primarily due to higher sales in the segment’s European-based hand tools business along with increased sales of power tools, partially offset by continued lower sales to the military.

Operating earnings of $37.1 million in the period increased $5.2 million from 2012 levels, and the operating margin (operating earnings as a percentage of segment sales) of 13.1% improved from 11.6% a year ago.

Snap-on Tools Group segment sales of $351.1 million in the quarter rose $29.5 million, or 9.2%, from 2012 levels, reflecting sales gains across both the company’s U.S. and international franchise operations. Excluding $2.9 million of unfavorable foreign currency translation, organic sales increased 10.2%.

Operating earnings of $51.0 million in the period increased $5.4 million from 2012 levels and the operating margin of 14.5% improved from 14.2% a year ago.

Repair Systems & Information Group segment sales of $264.6 million in the quarter increased $23.0 million, or 9.5%, from 2012 levels. Excluding $15.2 million of sales from the Challenger acquisition and $0.7 million of favorable foreign currency translation, organic sales in the quarter rose $7.1 million, or 2.9%. The year-over-year organic sales increase primarily reflects higher sales of diagnostic and repair information products to independent repair shop owners and managers, as well as gains in sales of undercar equipment, partially offset by lower sales to OEM dealerships.

Operating earnings of $60.8 million in the period increased $5.4 million from 2012 levels and the operating margin of 23.0% compared with 22.9% a year ago.

Financial Services operating earnings of $33.0 million on revenue of $47.4 million in the quarter compared with operating earnings of $29.3 million on revenue of $42.9 million a year ago.

Corporate expenses of $25.3 million in the quarter reflect higher performance-based compensation and other expenses, as compared with corporate expenses of $21.5 million last year.

Outlook

In 2014, Snap-on expects to continue with the advancement of its strategic framework designed to enhance its mobile tool distribution network, expand in the vehicle repair garage, extend to critical industries and build in emerging markets. In pursuit of these initiatives, Snap-on anticipates that capital expenditures in 2014 will be in a range of $70 million to $80 million. Snap-on expects that its full year 2014 effective income tax rate will be comparable to its 2013 rate.

Conference Call and Webcast February 6, 2014, at 9:00 a.m. Central Time

A discussion of this release will be webcast on Thursday, February 6, 2014, at 9:00 a.m. Central Time, and a replay will be available for at least 10 days following the call. To access the webcast, including the accompanying slide presentation, visit www.snapon.com/sna and click on the link toward the bottom of the page. Additional detail about Snap-on is also available on the Snap-on website.

About Snap-on

Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. Snap-on also derives income from various financing programs to facilitate the sales of its products. Products and services are sold through the company’s franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a $3.1 billion, S&P 500 company headquartered in Kenosha, Wisconsin.

Forward-looking Statements

Statements in this news release that are not historical facts, including statements that (i) are in the future tense; (ii) include the words “expects,” “anticipates,” “intends,” “approximates,” or similar words that reference Snap-on or its management; (iii) are specifically identified as forward-looking; or (iv) describe Snap-on’s or management’s future outlook, plans, estimates, objectives or goals, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Snap-on cautions the reader that this news release may contain statements, including earnings projections, that are forward-looking in nature and were developed by management in good faith and, accordingly, are subject to risks and uncertainties regarding Snap-on’s expected results that could cause (and in some cases have caused) actual results to differ materially from those described or contemplated in any forward-looking statement. Factors that may cause the company’s actual results to differ materially from those contained in the forward-looking statements include those found in the company’s reports filed with the Securities and Exchange Commission, including the information under the “Safe Harbor” and “Risk Factors” headings in its Annual Report on Form 10-K for the fiscal year ended December 29, 2012, which are incorporated herein by reference. Snap-on disclaims any responsibility to update any forward-looking statement provided in this news release, except as required by law.

For additional information, please visit www.snapon.com.

               
 
SNAP-ON INCORPORATED
Condensed Consolidated Statements of Earnings
(Amounts in millions, except per share data)
(unaudited)
 
 
 
 
Fourth Quarter Full Year
2013 2012 2013 2012
 
Net sales $ 797.5 $ 753.2 $ 3,056.5 $ 2,937.9
Cost of goods sold   (419.0 )   (401.2 )   (1,583.6 )   (1,547.9 )
Gross profit 378.5 352.0 1,472.9 1,390.0
Operating expenses   (254.9 )   (240.6 )   (1,012.4 )   (980.3 )
Operating earnings before financial services 123.6 111.4 460.5 409.7
 
Financial services revenue 47.4 42.9 181.0 161.3
Financial services expenses   (14.4 )   (13.6 )   (55.3 )   (54.6 )
Operating earnings from financial services   33.0     29.3     125.7     106.7  
 
Operating earnings 156.6 140.7 586.2 516.4
Interest expense (14.3 ) (14.4 ) (56.1 ) (55.8 )
Other income (expense) – net   (0.8 )   0.1     (3.9 )   (0.4 )
Earnings before income taxes and equity earnings 141.5 126.4 526.2 460.2
Income tax expense   (44.6 )   (39.8 )   (166.7 )   (148.2 )
Earnings before equity earnings 96.9 86.6 359.5 312.0
Equity earnings, net of tax   -     0.1     0.2     2.6  
Net earnings 96.9 86.7 359.7 314.6
Net earnings attributable to noncontrolling interests   (2.4 )   (2.1 )   (9.4 )   (8.5 )
Net earnings attributable to Snap-on Inc. $ 94.5   $ 84.6   $ 350.3   $ 306.1  
 
 
Net earnings per share attributable to Snap-on Inc.:
Basic $ 1.63 $ 1.45 $ 6.02 $ 5.26
Diluted 1.60 1.43 5.93 5.20
 
Weighted-average shares outstanding:
Basic 58.1 58.2 58.2 58.2
Effect of dilutive securities   1.0     0.8     0.9     0.7  
Diluted   59.1     59.0     59.1     58.9  

 
 
SNAP-ON INCORPORATED
Supplemental Segment Information
(Amounts in millions)
(unaudited)
               
 
 
Fourth Quarter Full Year
2013 2012 2013 2012
 
Net sales:
Commercial & Industrial Group $ 283.2 $   275.6 $   1,091.0 $   1,125.9
Snap-on Tools Group 351.1 321.6 1,358.4 1,272.0
Repair Systems & Information Group   264.6       241.6       1,009.6       917.1  
Segment net sales 898.9

 

838.8 3,459.0 3,315.0
Intersegment eliminations   (101.4 )     (85.6 )     (402.5 )     (377.1 )
Total net sales $ 797.5 $ 753.2 $ 3,056.5 $ 2,937.9
Financial Services revenue   47.4       42.9       181.0       161.3  
Total revenues $ 844.9   $   796.1   $   3,237.5   $   3,099.2  
 
Operating earnings:
Commercial & Industrial Group $ 37.1 $ 31.9 $ 137.3 $ 127.3
Snap-on Tools Group 51.0 45.6 194.6 176.4
Repair Systems & Information Group 60.8 55.4 231.9 205.7
Financial Services   33.0       29.3       125.7       106.7  
Segment operating earnings 181.9

 

162.2 689.5 616.1
Corporate   (25.3 )     (21.5 )     (103.3 )     (99.7 )
Operating earnings $ 156.6 $ 140.7 $ 586.2 $ 516.4
Interest expense (14.3 ) (14.4 ) (56.1 ) (55.8 )
Other income (expense) – net   (0.8 )     0.1       (3.9 )     (0.4 )
Earnings before income taxes
and equity earnings $ 141.5   $   126.4   $   526.2   $   460.2  

 
 
SNAP-ON INCORPORATED
Condensed Consolidated Balance Sheets
(Amounts in millions)
(unaudited)
           
 
Fiscal Year End
2013 2012
 
Assets
Cash and cash equivalents $ 217.6 $ 214.5
Trade and other accounts receivable – net 531.6 497.9
Finance receivables – net 374.6 323.1
Contract receivables – net 68.4 62.7
Inventories – net 434.4 404.2
Deferred income tax assets 85.4 81.8
Prepaid expenses and other assets   84.2     84.8  
Total current assets 1,796.2 1,669.0
 
Property and equipment – net 392.5 375.2
Deferred income tax assets 57.1 110.4
Long-term finance receivables – net 560.6 494.6
Long-term contract receivables – net 217.1 194.4
Goodwill 838.8 807.4
Other intangibles – net 190.5 187.2
Other assets   57.2     64.1  
Total assets $ 4,110.0   $ 3,902.3  
 
Liabilities and Equity
Notes payable and current maturities of long-term debt $ 113.1 $ 5.2
Accounts payable 155.6 142.5
Accrued benefits 48.1 50.6
Accrued compensation 95.5 88.3
Franchisee deposits 59.4 54.7
Other accrued liabilities   243.7     247.9  
Total current liabilities 715.4 589.2
 
Long-term debt 858.9 970.4
Deferred income tax liabilities 143.8 127.1
Retiree health care benefits 41.7 48.4
Pension liabilities 135.8 260.7
Other long-term liabilities   84.0     87.5  
Total liabilities   1,979.6     2,083.3  
 
Equity
Shareholders' equity attributable to Snap-on Inc.
Common stock 67.4 67.4
Additional paid-in capital 225.1 204.6
Retained earnings 2,324.1 2,067.0
Accumulated other comprehensive loss (44.8 ) (124.2 )
Treasury stock at cost   (458.6 )   (412.7 )
Total shareholders' equity attributable to Snap-on Inc. 2,113.2 1,802.1
Noncontrolling interests   17.2     16.9  
Total equity   2,130.4     1,819.0  
Total liabilities and equity $ 4,110.0   $ 3,902.3  

 
 
SNAP-ON INCORPORATED
Condensed Consolidated Statements of Cash Flows
(Amounts in millions)
(unaudited)
       
Fourth Quarter
2013 2012
 
Operating activities:
Net earnings $ 96.9 $ 86.7
Adjustments to reconcile net earnings to net cash provided (used) by
operating activities:
Depreciation 12.9 12.6
Amortization of other intangibles 6.1 6.9
Provision for losses on finance receivables 5.4 4.9
Provision for losses on non-finance receivables 2.5 5.0
Stock-based compensation expense 9.6 7.1
Excess tax benefits from stock-based compensation (3.3 ) (3.2 )
Deferred income tax provision 6.7 25.7
Changes in operating assets and liabilities:
Increase in trade and other accounts receivable (14.2 ) (24.5 )
Increase in contract receivables (2.3 ) (3.2 )
Decrease in inventories 3.5 14.0
Decrease in prepaid and other assets 15.2 7.2
Decrease in accounts payable (8.3 ) (7.2 )
Decrease in accruals and other liabilities   (8.2 )   (29.1 )
Net cash provided by operating activities 122.5 102.9
 
Investing activities:
Additions to finance receivables (168.9 ) (143.5 )
Collections of finance receivables 135.1 116.6
Capital expenditures (19.9 ) (19.9 )
Disposal of property and equipment 7.7 0.2
Proceeds from sale of equity investment - 27.0
Other   1.5     0.1  
Net cash used by investing activities (44.5 ) (19.5 )
 
Financing activities:
Proceeds from short-term borrowings 1.7 4.8
Repayments of short-term borrowings (1.9 ) (16.2 )
Net decrease in other short-term borrowings (4.0 ) (2.3 )
Cash dividends paid (25.4 ) (22.1 )
Purchase of treasury stock (15.1 ) (16.3 )
Proceeds from stock purchase and option plans 1.3 6.5
Excess tax benefits from stock-based compensation 3.3 3.2
Other   (2.6 )   (2.5 )
Net cash used by financing activities (42.7 ) (44.9 )
 
Effect of exchange rate changes on cash and cash equivalents   (0.2 )   (0.1 )
Increase in cash and cash equivalents 35.1 38.4
 
Cash and cash equivalents at beginning of period   182.5     176.1  
Cash and cash equivalents at end of year $ 217.6   $ 214.5  
 
Supplemental cash flow disclosures:
Cash paid for interest $ (1.6 ) $ (1.8 )
Net cash paid for income taxes (45.6 ) (33.7 )

 
 
SNAP-ON INCORPORATED
Condensed Consolidated Statements of Cash Flows
(Amounts in millions)
(unaudited)
       
Full Year
2013 2012
 
Operating activities:
Net earnings $ 359.7 $ 314.6
Adjustments to reconcile net earnings to net cash provided (used) by
operating activities:
Depreciation 51.2 50.2
Amortization of other intangibles 25.5 26.5
Provision for losses on finance receivables 20.4 18.7
Provision for losses on non-finance receivables 10.4 12.6
Stock-based compensation expense 38.5 32.1
Excess tax benefits from stock-based compensation (9.8 ) (8.2 )
Deferred income tax provision 9.5 29.3
Gain on sale of assets - (0.9 )
Changes in operating assets and liabilities, net of effects of acquisition:
Increase in trade and other accounts receivable (42.0 ) (43.4 )
Increase in contract receivables (33.7 ) (41.1 )
Increase in inventories (32.0 ) (13.4 )
Increase in prepaid and other assets (10.3 ) (24.8 )
Increase in accounts payable 8.4 16.6
Decrease in accruals and other liabilities   (3.2 )   (39.5 )
Net cash provided by operating activities 392.6 329.3
 
Investing activities:
Additions to finance receivables (651.3 ) (569.6 )
Collections of finance receivables 508.8 445.5
Capital expenditures (70.6 ) (79.4 )
Acquisition of business (38.2 ) -
Disposal of property and equipment 8.4 2.6
Proceeds from sale of equity investment - 27.0
Other   (7.5 )   0.8  
Net cash used by investing activities (250.4 ) (173.1 )
 
Financing activities:
Proceeds from short-term borrowings 3.3 16.0
Repayments of short-term borrowings (2.4 ) (30.3 )

Net increase in other short-term borrowings

8.1 3.1
Cash dividends paid (92.0 ) (81.5 )
Purchase of treasury stock (82.6 ) (78.1 )
Proceeds from stock purchase and option plans 29.2 46.8
Excess tax benefits from stock-based compensation 9.8 8.2
Other   (11.2 )   (11.2 )
Net cash used by financing activities (137.8 ) (127.0 )
 
Effect of exchange rate changes on cash and cash equivalents   (1.3 )   (0.3 )
Increase in cash and cash equivalents 3.1 28.9
 
Cash and cash equivalents at beginning of year   214.5     185.6  
Cash and cash equivalents at end of year $ 217.6   $ 214.5  
 
Supplemental cash flow disclosures:
Cash paid for interest $ (55.5 ) $ (55.6 )
Net cash paid for income taxes (162.9 ) (93.6 )

 
 
SNAP-ON INCORPORATED
Supplemental Consolidating Data - Condensed Statements of Earnings
(Amounts in millions)
(unaudited)
           
 
Operations* Financial Services
Fourth Quarter Fourth Quarter
2013 2012 2013 2012
 
Net sales $ 797.5 $ 753.2 $ - $ -
Cost of goods sold   (419.0 )   (401.2 )   -     -  
Gross profit 378.5 352.0 - -
Operating expenses   (254.9 )   (240.6 )   -     -  
Operating earnings before financial services 123.6 111.4 - -
 
Financial services revenue - - 47.4 42.9
Financial services expenses   -     -     (14.4 )   (13.6 )
Operating earnings from financial services   -     -     33.0     29.3  
 
Operating earnings 123.6 111.4 33.0 29.3
Interest expense (14.1 ) (13.5 ) (0.2 ) (0.9 )
Intersegment interest income (expense) – net 12.5 11.1 (12.5 ) (11.1 )
Other income (expense) – net   (0.8 )   -     -     0.1  
Earnings before income taxes and equity earnings 121.2 109.0 20.3 17.4
Income tax expense   (37.2 )   (33.5 )   (7.4 )   (6.3 )
Earnings before equity earnings 84.0 75.5 12.9 11.1
Financial services – net earnings
attributable to Snap-on Inc. 12.9 11.1 - -
Equity earnings, net of tax   -     0.1     -     -  
Net earnings 96.9 86.7 12.9 11.1
Net earnings attributable to noncontrolling interests   (2.4 )   (2.1 )   -     -  
Net earnings attributable to Snap-on Inc. $ 94.5   $ 84.6   $ 12.9   $ 11.1  
 

* Snap-on Inc. with Financial Services on the equity method.

  Transactions between Operations and Financial Services were eliminated to arrive at the consolidated financial statements.

 
 
SNAP-ON INCORPORATED
Supplemental Consolidating Data - Condensed Statements of Earnings
(Amounts in millions)
(unaudited)
           
 
Operations* Financial Services
Full Year Full Year
2013 2012 2013 2012
 
Net sales $ 3,056.5 $ 2,937.9 $ - $ -
Cost of goods sold   (1,583.6 )   (1,547.9 )   -     -  
Gross profit 1,472.9 1,390.0 - -
Operating expenses   (1,012.4 )   (980.3 )   -     -  
Operating earnings before financial services 460.5 409.7 - -
 
Financial services revenue - - 181.0 161.3
Financial services expenses   -     -     (55.3 )   (54.6 )
Operating earnings from financial services   -     -     125.7     106.7  
 
Operating earnings 460.5 409.7 125.7 106.7
Interest expense (54.6 ) (54.0 ) (1.5 ) (1.8 )
Intersegment interest income (expense) – net 47.7 42.4 (47.7 ) (42.4 )
Other income (expense) – net   (4.0 )   (0.4 )   0.1     -  
Earnings before income taxes and equity earnings 449.6 397.7 76.6 62.5
Income tax expense   (138.6 )   (125.3 )   (28.1 )   (22.9 )
Earnings before equity earnings 311.0 272.4 48.5 39.6
Financial services – net earnings
attributable to Snap-on Inc. 48.5 39.6 - -
Equity earnings, net of tax   0.2     2.6     -     -  
Net earnings 359.7 314.6 48.5 39.6
Net earnings attributable to noncontrolling interests   (9.4 )   (8.5 )   -     -  
Net earnings attributable to Snap-on Inc. $ 350.3   $ 306.1   $ 48.5   $ 39.6  
 

* Snap-on Inc. with Financial Services on the equity method.

  Transactions between Operations and Financial Services were eliminated to arrive at the consolidated financial statements.

 
 
SNAP-ON INCORPORATED
Supplemental Consolidating Data - Condensed Balance Sheets
(Amounts in millions)
(unaudited)
           
 
Operations* Financial Services
Fiscal Year End Fiscal Year End
2013 2012 2013 2012
 
Assets
Cash and cash equivalents $ 214.4 $ 211.2 $ 3.2 $ 3.3
Intersegment receivables 15.3 14.1 - -
Trade and other accounts receivable – net 531.1 497.5 0.5 0.4
Finance receivables – net - - 374.6 323.1
Contract receivables – net 7.0 7.4 61.4 55.3
Inventories – net 434.4 404.2 - -
Deferred income tax assets 71.1 68.8 14.3 13.0
Prepaid expenses and other assets   88.1   88.3   1.3   1.0
Total current assets 1,361.4 1,291.5 455.3 396.1
 
Property and equipment – net 390.9 373.2 1.6 2.0
Investment in Financial Services 193.7 165.3 - -
Deferred income tax assets 56.8 110.2 0.3 0.2
Intersegment long-term note receivable 9.6 - - -
Long-term finance receivables – net - - 560.6 494.6
Long-term contract receivables – net 12.0 12.1 205.1 182.3
Goodwill 838.8 807.4 - -
Other intangibles – net 190.5 187.2 - -
Other assets   58.9   65.3   1.1   1.1
Total assets $ 3,112.6 $ 3,012.2 $ 1,224.0 $ 1,076.3
 
Liabilities and Equity
Notes payable and current maturities of long-term debt $ 13.1 $ 5.2 $ 100.0 $ -
Accounts payable 150.7 142.1 4.9 0.4
Intersegment payables - - 15.3 14.1
Accrued benefits 48.1 50.6 - -
Accrued compensation 91.9 84.9 3.6 3.4
Franchisee deposits 59.4 54.7 - -
Other accrued liabilities   229.5   207.8   22.2   46.9
Total current liabilities 592.7 545.3 146.0 64.8
 
Long-term debt and intersegment long-term debt - 143.2 868.5 827.2
Deferred income tax liabilities 142.7 125.7 1.1 1.4
Retiree health care benefits 41.7 48.4 - -
Pension liabilities 135.8 260.7 - -
Other long-term liabilities   69.3   69.9   14.7   17.6
Total liabilities   982.2   1,193.2   1,030.3   911.0
 
Total shareholders' equity attributable to Snap-on Inc. 2,113.2 1,802.1 193.7 165.3
Noncontrolling interests   17.2   16.9   -   -
Total equity   2,130.4   1,819.0   193.7   165.3
Total liabilities and equity $ 3,112.6 $ 3,012.2 $ 1,224.0 $ 1,076.3
 

* Snap-on Inc. with Financial Services on the equity method.

  Transactions between Operations and Financial Services were eliminated to arrive at the consolidated financial statements.

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15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
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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...
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 @ThingsExpo, Robin Raymond, Chief Architect...
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
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 3rd International @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 it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to th...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.