SYS-CON MEDIA Authors: Trevor Parsons, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

News Feed Item

2013 Operating Results Announced By National Retail Properties, Inc.

ORLANDO, Fla., Feb. 11, 2014 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced operating results for the quarter and year ended December 31, 2013.  Highlights include:

Operating Results:

  • Revenues and net earnings, FFO, Recurring FFO and AFFO available to common stockholders and diluted per share amounts:

 


Quarter Ended


Year Ended


December 31,


December 31,


2013


2012


2013


2012


(in thousands, except per share data)

Revenues

$

103,648



$

89,059



$

392,327



$

331,536










Net earnings available to common stockholders

$

35,382



$

35,901



$

132,222



$

121,489


Net earnings per common share

$

0.29



$

0.32



$

1.10



$

1.11










FFO available to common stockholders

$

60,646



$

51,012



$

229,518



$

193,682


FFO per common share

$

0.50



$

0.46



$

1.91



$

1.77










Recurring FFO available to common stockholders

$

61,815



$

51,106



$

230,965



$

189,759


Recurring FFO per common share

$

0.51



$

0.46



$

1.93



$

1.74










AFFO available to common stockholders

$

63,603



$

54,182



$

238,917



$

200,839


AFFO per common share

$

0.52



$

0.48



$

1.99



$

1.84


 

  • Portfolio occupancy was 98.2% at December 31, 2013, as compared to 98.1% at September 30, 2013, and 97.9% at December 31, 2012

2013 Highlights:

  • Increased annual Recurring FFO per share 10.9%
  • Dividend yield at December 31, 2013 of 5.3%
  • Dividends per share increased to $1.60 marking the 24th consecutive year of annual dividend increases - one of only four equity REITs and one of only 102 public companies with 24 or more consecutive annual dividend increases
  • Maintained high occupancy levels at 98.2% with weighted average remaining lease term of 12 years
  • Invested $629.9 million in 275 properties with an aggregate 1,652,000 square feet of gross leasable area at an initial cash yield of 7.8%
  • Sold 35 properties for $61.0 million producing $5.4 million of gains on sale, net of income tax and noncontrolling interest at a cap rate of 7.5%
  • Raised $886.0 million of new long term capital at attractive pricing
    • Raised $264.1 million in net proceeds from the issuance of 7,721,883 common shares
    • Raised $277.6 million in net proceeds from the issuance of 5.70% Series E preferred stock
    • Raised $344.3 million in net proceeds from the issuance of 3.30% senior unsecured notes due 2023
  • Settled $223.0 million principal amount of 5.125% convertible senior notes due 2028
  • Over 99% of properties are not encumbered with secured mortgage debt
  • In January 2013, Fitch Ratings upgraded NNN's unsecured debt rating to BBB+
  • In November 2013, Moody's Investors Service upgraded NNN's unsecured debt rating to Baa1

Investments and Dispositions for the quarter ended December 31, 2013:

  • Investments:
    • $59.6 million in property investments, including the acquisition of 14 properties with an aggregate 183,000 square feet of gross leasable area
  • Dispositions:
    • 4 properties with net proceeds of $8.4 million producing $2.0 million of gains on sales, net of income tax

Craig Macnab, Chief Executive Officer, commented: "Growing FFO and AFFO per share results 8% in 2013 while deleveraging an already strong balance sheet is the continuation of a trend during recent years. Over the past three years, we have been able to grow FFO and AFFO per share results more than 25% while funding 80% of our $2.1 billion of acquisitions with permanent capital consisting of equity and asset disposition proceeds. We are well positioned to deliver solid per share growth in 2014 and we are optimistic this will be our 25th consecutive year of increased dividends per share. We will continue to build value by allocating capital to the disciplined acquisition of well underwritten retail properties, focusing on increasing per share results as opposed to asset size goals and maintaining a conservative and flexible balance sheet."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of December 31, 2013, the company owned 1,860 properties in 47 states with a gross leasable area of approximately 20.4 million square feet.  For more information on the company, visit www.nnnreit.com.

Management will hold a conference call on February 11, 2014, at 10:30 a.m. ET to review these results.  The call can be accessed on the National Retail Properties web site live at http://www.nnnreit.com.  For those unable to listen to the live broadcast, a replay will be available on the company's web site.  In addition, a summary of any earnings guidance given on the call will be posted to the company's web site.

Statements in this press release that are not strictly historical are "forward-looking" statements.  Forward-looking statements involve known and unknown risks, which may cause the company's actual future results to differ materially from expected results.  These risks include, among others, general economic conditions, local real estate conditions, changes in interest rates, increases in operating costs, the preferences and financial condition of our tenants, the availability of capital, risks related to our status as a REIT and the profitability of the company's taxable subsidiary.  Additional information concerning these and other factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company's Securities and Exchange Commission ("SEC") filings, including, but not limited to, the company's Annual Report on Form 10-K.  Copies of each filing may be obtained from the company or the SEC.  Such forward-looking statements should be regarded solely as reflections of the company's current operating plans and estimates.  Actual operating results may differ materially from what is expressed or forecast in this press release.  National Retail Properties undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.

The reported results are preliminary and not final and there can be no assurance that the results will not vary from the final information filed on Form 10-K with the SEC for the year ended December 31, 2013.  In the opinion of management, all adjustments considered necessary for a fair presentation of these reported results have been made.  

Funds From Operations, commonly referred to as FFO, is a relative non-GAAP financial measure of operating performance of an equity REIT in order to recognize that income-producing real estate historically has not depreciated on the basis determined under GAAP.  FFO is defined by the National Association of Real Estate Investment Trusts ("NAREIT") and is used by the company as follows:  net earnings (computed in accordance with GAAP) plus depreciation and amortization of assets unique to the real estate industry, excluding gains (or including losses) on the disposition of certain assets, the company's share of these items from the company's unconsolidated partnerships and any impairment charges on a depreciable real estate asset.

FFO is generally considered by industry analysts to be the most appropriate measure of performance of real estate companies.  FFO does not necessarily represent cash provided by operating activities in accordance with GAAP and should not be considered an alternative to net earnings as an indication of the company's performance or to cash flow as a measure of liquidity or ability to make distributions.  Management considers FFO an appropriate measure of performance of an equity REIT because it primarily excludes the assumption that the value of the real estate assets diminishes predictably over time, and because industry analysts have accepted it as a performance measure.  The company's computation of FFO may differ from the methodology for calculating FFO used by other equity REITs, and therefore, may not be comparable to such other REITs.  A reconciliation of net earnings (computed in accordance with GAAP) to FFO, as defined by NAREIT, is included in the financial information accompanying this release.  AFFO should not be considered an alternative to net earnings, as an indication of the company's performance or to cash flow as a measure of liquidity or ability to make distributions.

Adjusted Funds From Operations ("AFFO") is a non-GAAP financial measure of operating performance used by many companies in the REIT industry. AFFO further adjusts FFO for certain non-cash items that reduce or increase net income in accordance with GAAP.  Management considers AFFO a useful supplemental measure of the company's performance.  The company's computation of AFFO may differ from the methodology for calculating AFFO used by other equity REITs, and therefore, may not be comparable to such other REITs.  A reconciliation of net earnings (computed in accordance with GAAP) to AFFO is included in the financial information accompanying this release.

The company has earnings from discontinued operations. The company classified the revenues and expenses related to properties which generated revenue and were sold or generated revenue and were held for sale as of December 31, 2013, as discontinued operations. The results of operations for prior periods for these properties now classified as discontinued operations have been restated to reflect the results in earnings from discontinued operations for comparability purposes. These adjustments resulted in a decrease in the company's reported total revenues and total and per share earnings from continuing operations and an increase in the company's earnings from discontinued operations. However; the company's total and per share FFO and net earnings available to common stockholders are not affected. 

 

 

National Retail Properties, Inc.

(in thousands, except per share data)

(unaudited)

 



Quarter Ended


Year Ended



December 31,


December 31,



2013


2012


2013


2012

Income Statement Summary


















Revenues:









Rental and earned income


$

98,868



$

84,458



$

375,460



$

315,037


Real estate expense reimbursement from tenants


3,907



3,564



13,110



11,587


Interest and other income from real estate transactions


372



428



1,467



2,239


Interest income on commercial mortgage residual interests


501



609



2,290



2,673




103,648



89,059



392,327



331,536











Retail operations:









Revenues








19,008


Operating expenses








(18,542)


Net








466











Operating expenses:









General and administrative


7,367



8,905



32,576



32,187


Real estate


5,519



4,661



18,100



17,041


Depreciation and amortization


27,172



20,185



99,246



73,707


Impairment – commercial mortgage residual interests valuation


1,169



94



1,185



2,812


Impairment losses and other charges, net of recoveries






1,972



3,088




41,227



33,845



153,079



128,835











Other expenses (revenues):









Interest and other income


(60)



(318)



(1,493)



(2,232)


Interest expense


20,074



20,767



85,283



83,192




20,014



20,449



83,790



80,960











Gain on disposition of real estate


173





173




Income tax benefit (expense)


(254)



(221)



(618)



6,947


Equity in earnings of unconsolidated affiliate








4,074











Earnings from continuing operations


42,326



34,544



155,013



133,228











Earnings from discontinued operations, net of income tax expense


1,908



6,103



5,072



8,709











Earnings including noncontrolling interests


44,234



40,647



160,085



141,937











Loss (earnings) attributable to noncontrolling interests:









Continuing operations


10



34



286



107


Discontinued operations


(3)



(18)



(226)



(29)




7



16



60



78











Net earnings attributable to NNN


44,241



40,663



160,145



142,015


Series C preferred stock dividends








(1,979)


Series D preferred stock dividends


(4,762)



(4,762)



(19,047)



(15,449)


Series E preferred stock dividends


(4,097)





(8,876)




Excess of redemption value over carrying value of Series C preferred shares redeemed








(3,098)


Net earnings available to common stockholders


$

35,382



$

35,901



$

132,222



$

121,489


 

 

 

National Retail Properties, Inc.

(in thousands, except per share data)

(unaudited)

 



December 31,


December 31,



2013


2012


2013


2012










Weighted average common shares outstanding:









Basic


121,118



109,393



118,204



106,965


Diluted


121,309



112,013



119,865



109,118











Net earnings per share available to common stockholders:









Basic:









Continuing operations


$

0.27



$

0.27



$

1.07



$

1.05


Discontinued operations


0.02



0.06



0.04



0.08


Net earnings


$

0.29



$

0.33



$

1.11



$

1.13











Diluted:









Continuing operations


$

0.27



$

0.26



$

1.06



$

1.03


Discontinued operations


0.02



0.06



0.04



0.08


Net earnings


$

0.29



$

0.32



$

1.10



$

1.11


 

 

 

National Retail Properties, Inc.

(in thousands, except per share data)

(unaudited)

 



Quarter Ended


Year Ended



December 31,


December 31,



2013


2012


2013


2012

Funds From Operations (FFO) Reconciliation:









Net earnings available to common stockholders


$

35,382



$

35,901



$

132,222



$

121,489


Real estate depreciation and amortization:









Continuing operations


27,113



20,128



99,020



73,586


Discontinued operations


23



224



371



1,480


Joint venture real estate depreciation








112


Joint venture gain on disposition of real estate








(2,341)


Gain on disposition of real estate, net of tax and noncontrolling interest


(1,975)



(6,510)



(5,442)



(10,956)


Impairment losses – real estate


103



1,269



3,347



10,312


Total FFO adjustments


25,264



15,111



97,296



72,193


FFO available to common stockholders


$

60,646



$

51,012



$

229,518



$

193,682











FFO per share:









Basic


$

0.50



$

0.47



$

1.94



$

1.81


Diluted


$

0.50



$

0.46



$

1.91



$

1.77











Recurring Funds from Operations Reconciliation:









Net earnings available to common stockholders


$

35,382



$

35,901



$

132,222



$

121,489


Total FFO adjustments


25,264



15,111



97,296



72,193


FFO available to common stockholders


60,646



51,012



229,518



193,682











Excess of redemption value over carrying value of preferred

   share redemption








3,098


Impairment – commercial mortgage residual interests valuation


1,169





1,185



2,812


Impairment losses and other charges, net of recoveries




94



759



(198)


Income tax benefit








(7,671)


Joint venture disposition fee and promote income








(1,964)


Notes receivable redemption income






(497)




Total Recurring FFO adjustments


1,169



94



1,447



(3,923)


Recurring FFO available to common stockholders


$

61,815



$

51,106



$

230,965



$

189,759











Recurring FFO per share:









Basic


$

0.51



$

0.47



$

1.95



$

1.77


Diluted


$

0.51



$

0.46



$

1.93



$

1.74


 

 

 

National Retail Properties, Inc.

(in thousands, except per share data)

(unaudited)

 



Quarter Ended


Year Ended



December 31,


December 31,



2013


2012


2013


2012

Adjusted Funds From Operations (AFFO) Reconciliation:









Net earnings available to common stockholders


$

35,382



$

35,901



$

132,222



$

121,489


Total FFO adjustments


25,264



15,111



97,296



72,193


Total Recurring FFO adjustments


1,169



94



1,447



(3,923)


Recurring FFO available to common stockholders


61,815



51,106



230,965



189,759











Straight-line accrued rent


483



160



165



(897)


Net capital lease rent adjustment


343



402



1,573



1,623


Below market rent amortization


(613)



(627)



(2,445)



(2,492)


Stock based compensation expense


1,934



2,375



7,459



8,131


Capitalized interest expense


(359)



(336)



(1,369)



(1,540)


Convertible debt interest expense (non-cash portion)




1,102



2,072



4,291


Joint venture disposition fee and promote income








1,964


Notes receivable redemption income






497




Total AFFO adjustments


1,788



3,076



7,952



11,080


AFFO available to common stockholders


$

63,603



$

54,182



$

238,917



$

200,839











AFFO per share:









Basic


$

0.53



$

0.50



$

2.02



$

1.88


Diluted


$

0.52



$

0.48



$

1.99



$

1.84











Other Information:









Percentage rent


$

757



$

620



$

1,558



$

1,192


Amortization of debt costs


$

658



$

78



$

3,118



$

2,584


Scheduled debt principal amortization (excluding maturities)


$

275



$

256



$

1,070



$

1,187


Non-real estate depreciation expense


$

63



$

62



$

248



$

143


Real estate acquisition costs (included in general and administrative expenses)


$

35



$

30



$

1,694



$

375


 

 

National Retail Properties, Inc.

(in thousands)
(unaudited)

 

Earnings from Discontinued Operations:  NNN classified the revenues and expenses related to properties which were sold or  were held for sale as of December 31, 2013 and generated revenue, as discontinued operations.  The following is a summary of the earnings from discontinued operations.












Quarter Ended


Year Ended



December 31,


December 31,



2013


2012


2013


2012










Revenues:









Rental and earned income


$

363



$

1,354



$

2,822



$

7,693


Real estate expense reimbursement from tenants


97



60



327



383


Interest and other income from real estate transactions


1



5



37



17




461



1,419



3,186



8,093











Expenses:









General and administrative


2



13



219



20


Real estate


122



184



600



1,026


Depreciation and amortization


23



224



371



1,480


Impairment losses and other charges


103



1,269



2,149



7,026


Interest


135



180



580



732




385



1,870



3,919



10,284











Gain on disposition of real estate


1,870



6,510



6,272



10,956


Income tax benefit (expense)


(38)



44



(467)



(56)











Earnings from discontinued operations including noncontrolling interests


1,908



6,103



5,072



8,709


Loss attributable to noncontrolling interests


(3)



(18)



(226)



(29)


Earnings from discontinued operations attributable to NNN


$

1,905



$

6,085



$

4,846



$

8,680


 

 

National Retail Properties, Inc.

(in thousands)

(unaudited)

 



December 31,
2013


December 31,
2012

Balance Sheet Summary










Assets:





Cash and cash equivalents


$

1,485



$

2,076


Receivables, net of allowance


4,107



3,112


Mortgages, notes and accrued interest receivable


17,119



27,770


Real estate:





Accounted for using the operating method, net of accumulated depreciation and amortization


4,253,299



3,794,044


Accounted for using the direct financing method


18,342



23,217


Real estate held for sale


15,409



17,546


Commercial mortgage residual interests


11,721



13,096


Accrued rental income, net of allowance


24,797



25,458


Debt costs, net of accumulated amortization


12,877



12,781


Other assets


95,367



68,926


Total assets


$

4,454,523



$

3,988,026







Liabilities:





Line of credit payable


$

46,400



$

174,200


Mortgages payable, net of unamortized premium


9,475



10,602


Notes payable - convertible, net of unamortized discount




236,500


Notes payable, net of unamortized discount


1,514,184



1,165,662


Accrued interest payable


17,142



17,527


Other liabilities


89,037



85,950


Total liabilities


1,676,238



1,690,441







Stockholders' equity of NNN


2,777,045



2,296,285


Noncontrolling interests


1,240



1,300


Total equity


2,778,285



2,297,585







Total liabilities and equity


$

4,454,523



$

3,988,026







Common shares outstanding


121,992



111,555







Gross leasable area, Property Portfolio (square feet)


20,402



19,168







 

 

National Retail Properties, Inc

Debt Summary

As of December 31, 2013

(in thousands)

(unaudited)


Unsecured Debt


Principal


Principal, Net of Discount


Stated Rate


Effective Rate


Maturity Date

Line of credit payable


$

46,400



$

46,400



L + 107.5 bps


-


October 2016












Unsecured notes payable:











2014


150,000



149,975



6.25%


5.91%


June 2014

2015


150,000



149,904



6.15%


6.19%


December 2015

2017


250,000



249,596



6.88%


6.92%


October 2017

2021


300,000



296,570



5.50%


5.69%


July 2021

2022


325,000



320,576



3.80%


3.98%


October 2022

2023


350,000



347,563



3.30%


3.39%


April 2023

Total


1,525,000



1,514,184



















Total unsecured debt


$

1,571,400



$

1,560,584








                  

 

Mortgages Payable


Principal
Balance


Interest Rate


Maturity Date

Mortgage(1)


$

6,457



5.75%


April 2016

Mortgage


2,257



6.90%


January 2017

Mortgage(2)


761



8.62%


April 2014 - April 2019



$

9,475






(1) Includes unamortized premium

(2) Represents the total balance of five separate mortgage loans and their weighted average interest rate

 

 

National Retail Properties, Inc.

Property Portfolio







Top 20 Lines of Trade





As of December 31,



Line of Trade


2013(1)


2012 (2)

1.


Convenience stores


19.7

%


19.8

%

2.


Restaurants - full service


9.7

%


10.7

%

3.


Automotive service


7.6

%


7.6

%

4.


Restaurants - limited service


5.5

%


5.2

%

5.


Automotive parts


5.1

%


5.6

%

6.


Theaters


4.5

%


4.7

%

7.


Health and fitness


4.3

%


3.7

%

8.


Banks


4.1

%


0.2

%

9.


Sporting goods


3.7

%


4.0

%

10.


Recreational vehicle dealers, parts and accessories


3.2

%


2.7

%

11.


Wholesale clubs


3.1

%


3.4

%

12.


Consumer electronics


2.7

%


3.0

%

13.


Drug stores


2.6

%


3.0

%

14.


Home improvement


2.5

%


3.0

%

15.


Family entertainment centers


2.3

%


2.1

%

16.


Travel plazas


2.1

%


2.2

%

17.


Home furnishings


1.6

%


1.6

%

18.


Medical service providers


1.6

%


1.1

%

19.


Books


1.6

%


1.8

%

20.


Grocery


1.5

%


1.7

%



Other


11.0

%


12.9

%



Total


100.0

%


100.0

%

 

Top 10 States













State



% of Total(1)



State



% of Total(1)

1.

Texas



20.4

%


6.

Virginia



4.6

%

2.

Florida



10.5

%


7.

Indiana



3.9

%

3.

Illinois



5.3

%


8.

California



3.5

%

4.

Georgia



4.8

%


9.

Ohio



3.4

%

5.

North Carolina



4.7

%


10.

Pennsylvania



3.3

%














(1) Based on the annualized base rent for all leases in place as of December 31, 2013.

(2) Based on the annualized base rent for all leases in place as of December 31, 2012.

 

 

National Retail Properties, Inc.

Property Portfolio








Top Tenants (>2.0%)










Properties


% of Total (1)


Susser Holdings


86


5.0%


Mister Car Wash


85


4.9%


Pantry


84


4.4%


7-Eleven


68


4.2%


LA Fitness


20


4.2%


SunTrust


121


3.9%


AMC Theatre


15


3.6%


Camping World


24


3.2%


BJ's Wholesale Club


7


3.1%


Best Buy


19


2.6%


Gander Mountain


10


2.3%


Energy Transfer Partners (Sunoco)


38


2.1%


Road Ranger


27


2.1%


Pull-A-Part


20


2.1%

 

Lease Expirations(2)


















% of
Total(1)


# of
Properties


Gross Leasable
Area (3)




% of
Total(1)


# of
Properties


Gross Leasable
Area (3)

2014


1.4%


32


434,000



2020


3.1%


97


916,000


2015


1.6%


32


482,000



2021


4.6%


99


918,000


2016


1.7%


32


567,000



2022


6.9%


92


1,150,000


2017


3.5%


46


1,009,000



2023


3.3%


54


962,000


2018


8.3%


186


1,957,000



2024


2.2%


33


504,000


2019


3.5%


57


1,005,000



Thereafter


59.9%


1,059


9,968,492



















(1) Based on the annual base rent of $395,594,000, which is the annualized base rent for all leases in place as of December 31, 2013.

(2) As of December 31, 2013, the weighted average remaining lease term is 12 years.

(3) Square feet.

 

SOURCE National Retail Properties, Inc.

More Stories By PR Newswire

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

Latest Stories
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then we took the concept a step further, giving it a beautiful interface and making it simple enough for our bosses to understand. We named it GuardRail after its function - to allow businesses to move fast and stay sa...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. 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. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting an...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. 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. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.