|By Marketwired .||
|February 12, 2014 05:24 PM EST||
SAN DIEGO, CA -- (Marketwired) -- 02/12/14 -- Excel Trust, Inc. (NYSE: EXL) announced today financial and operating results for the quarter and year ended December 31, 2013. A supplemental financial package with additional information can be found on Excel Trust's website under the Investor Relations tab.
Highlights for the Year Ended 2013
- Reported Adjusted Funds from Operations (AFFO) for the quarter of $11.4 million, or $0.23 per diluted share and for the year of $43.8 million, or $0.90 per diluted share (15% annual increase over 2013)
- Reported Funds from Operations (FFO) for the quarter of $11.3 million or $0.23 per diluted share and for the year of $44.6 million, or $0.92 per diluted share (24% annual increase over 2013)
- Acquired approximately $178.6 million in properties
- Improved terms and increased unsecured credit facility to $300 million, expandable to $500 million
- Subsequent to year-end, published Moody's investment grade credit rating of (P)Baa3
- Subsequent to year-end, increased share buy-back program to $50 million
"We set some clear objectives at the beginning of the year outlining a path for growth and for strengthening the underlying fundamentals of our company," commented Gary Sabin, Chairman and CEO of Excel Trust. "Looking back at the year, we are gratified at the progress we have made. We achieved an investment grade credit rating and successfully issued long-term, unsecured debt. We grew our annual same store NOI 3.3% and our releasing spread on comparable leases averaged 3.7%. We increased our annual same-store portfolio leased rate by 40 basis points to 95% at year-end. In addition to our operational success, we harvested gains from our existing portfolio and acquired several attractive properties. We expect another successful year in 2014 as we continue to execute our strategy of growing and enhancing our portfolio."
Excel Trust reported Adjusted Funds From Operations (AFFO) for the fourth quarter of $11.4 million, or $0.23 per diluted share, and $43.8 million, or $0.90 per diluted share for the year. Excel Trust reported Funds From Operations (FFO) for the fourth quarter of $11.3 million or $0.23 per diluted share, and $44.6 million, or $0.92 per diluted share for the year. Net loss attributable to the common stockholders for the fourth quarter was $0.4 million or $0.01 per diluted share, with net income attributable to the common stockholders of $8.6 million, or $0.17 per diluted share for the year.
Included in FFO for the quarter ended December 31, 2013 were transaction costs of $0.1 million related to acquisitions and $1.2 million, or $0.02 per diluted share in the year ended December 31, 2013. Also, included in FFO was non-cash compensation expense of approximately $0.6 million, or $0.01 per diluted share in the quarter ended December 31, 2013 and $2.3 million or $0.05 per diluted share in the year ended December 31, 2013, resulting from the Company's incentive stock award plan. Further included in FFO for the year ended December 31, 2013 was a non-cash gain due to a change in the fair value of contingent consideration relating to the West Broad Village acquisition of $1.6 million, or $0.03 per diluted share.
Excel Trust considers AFFO and FFO important supplemental measures of its operating performance and believes that they are frequently used by securities analysts, investors and other interested parties in the evaluation of real estate investment trusts (REITs), many of which present AFFO and FFO when reporting their results. A complete reconciliation containing adjustments from GAAP net income available to common shareholders to AFFO and FFO and a definition of both are included at the end of this release.
At the end of the fourth quarter 2013, the retail portfolio was 94.1% leased compared to 94.0% in the third quarter 2013. Anchor space was 99.1% leased compared to 99.1% in the third quarter 2013 and inline space was 84.9% leased compared to 84.3% during the third quarter 2013.
During the fourth quarter 2013, the Company signed 38 leases and renewals, totaling 202,513 square feet. The average releasing spread on comparable new leases was 5.0%.
Same Store Net Operating Income ("SSNOI") for the fourth quarter 2013 increased 6.2%. Year-to-date, SSNOI increased 3.3%.
Summary of Significant Activities During Fourth Quarter 2013
On October 4, 2013, the Company acquired a 38,000 square foot building leased to LA Fitness in San Diego, California for approximately $14.3 million. The property is situated in a fast growing, master planned community less than three miles from Excel Trust's headquarters. The area features average household income of $116,140 and $122,033 and population of 62,458 and 159,929 in a three and five mile radius respectively (source: AGS 2013).
On October 8, 2013, the Company amended its credit facility. The facility now bears interest at a rate per annum equal to LIBOR plus 1.45% to 2.05% (down from 1.65% to 2.25%), depending on the Company's leverage ratio. The facility has been increased to $300.0 million and includes an accordion feature that allows for an increase up to $500.0 million under specified circumstances. The maturity date of the credit facility is April 2018 and can be extended for six months at the Company's option.
On November 4, 2013, the Company acquired Cedar Square, a retail shopping center located in Dallas - Ft. Worth, Texas for approximately $4.3 million. The center is currently being redeveloped to include a Walgreens (signed lease) resulting in a total of 75,550 square feet.
On November 12, 2013, the Company issued $100.0 million in senior unsecured notes to Prudential Capital Group. Of the $100.0 million in notes, $75.0 million will mature in 2020 and $25.0 million will mature in 2023, for a weighted average maturity of 7.8 years, and a weighted average fixed interest rate of 4.6%.
On November 18, 2013 the Company acquired Southlake Park Village, a development project comprised of 22.4 acres of land in Dallas - Ft. Worth (Southlake), Texas, for $16.3 million. The project is approximately 50% leased (signed leases with Fresh Market, REI and other national tenants) and will encompass approximately 186,000 square feet. The project is well-located in the retail corridor of an affluent community, with average household income in a three mile radius of $164,506 (source: AGS 2014).
On November 22, 2013, the Company acquired Centennial Crossroads, a retail shopping center with 259,415 square feet of GLA located in Las Vegas, Nevada for approximately $16.4 million. The Company acquired 105,415 square feet as Target (154,000 square feet), which anchors the property, is tenant owned. Other major tenants include Safeway (Vons) and Chase Bank. In a three mile radius, the population is estimated to be 104,666 and the average household income is estimated to be $88,052 (source: AGS 2014).
Events Subsequent to Fourth Quarter 2013
On January 6, 2014, the Company published an investment grade credit rating from Moody's. The agency assigned a (P)Baa3 rating citing Excel Trust's high quality property portfolio, sound liquidity, and moderate leverage. Additionally, Moody's stated that Excel Trust's management team has a long, successful operating history, in both the private and public markets. The Company obtained an investment grade rating to facilitate access to the investment grade unsecured debt market as part of its overall strategy to maximize its financial flexibility and manage its overall cost of capital.
First Quarter 2014 Dividend Declared
The Board of Directors declared a first quarter 2014 cash dividend of $0.175 per common share payable on April 15, 2014 to shareholders of record as of March 31, 2014.
The Board of Directors has also declared a dividend of $0.4375 per share on the Company's Series A Cumulative Convertible Perpetual Preferred Shares, and a dividend of $0.5078 on its Series B Cumulative Redeemable Preferred Shares. The dividend on Excel Trust's outstanding Series A and Series B Preferred Shares will be payable on April 15, 2014 to the Series A and Series B Preferred shareholders of record as of March 31, 2014
Guidance for 2014
Excel Trust expects its AFFO per share for fiscal year 2014 to be between $0.91 and $0.98 and its FFO per share to be between $0.90 and $0.97. The Company will further discuss assumptions surrounding guidance tomorrow on the conference call.
The foregoing estimates are forward-looking and reflect management's view of current and future market conditions, including certain assumptions with respect to leasing activity, rental rates, occupancy levels, interest rates, and the amount and timing of acquisitions and development activities. Excel Trust's actual results may differ materially from these estimates.
In conjunction with Excel Trust's results, you are invited to listen to its conference call on
Thursday, February 13, 2014 at 1:00 p.m. Eastern Time.
Phone: Conference call access information is as follows:
Dial in number: (800) 299-8538
International Dial in number: (617) 786-2902
Pass code: 34697712
Internet: A live webcast of the conference call will be available through Excel Trust's web site at www.exceltrust.com. The conference call will be recorded and available for replay for seven days beginning at 4:00 p.m. ET on February 13, 2014. Replay access information is as follows:
Dial in number: (888) 286-8010
International Dial in number: (617) 801-6888
Pass code: 30082346
About Excel Trust
Excel Trust, Inc. is a retail focused REIT that primarily targets community and power centers, grocery anchored neighborhood centers and freestanding retail properties. The Company has elected to be treated as a REIT, for U.S. federal income tax purposes. Excel Trust trades publicly on the NYSE under the symbol "EXL". For more information on Excel Trust, Inc., please visit www.exceltrust.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); adverse economic or real estate developments in the retail industry or the markets in which the Company operates; increased interest rates and operating costs; decreased rental rates or increased vacancy rates; the Company's failure to obtain necessary outside financing on favorable terms or at all; changes in the availability of additional acquisition opportunities; the Company's inability to successfully complete real estate acquisitions or successfully operate acquired properties; the Company's failure to qualify or maintain its status as a REIT; risks associated with the Company's dependence on key personnel whose continued service is not guaranteed; and risks associated with downturns in domestic and local economies, and volatility in the securities markets. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission, including the Company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO)
Excel Trust considers FFO and AFFO to be important supplemental measures of its operating performance and believes they are frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO and AFFO when reporting their results. FFO and AFFO are intended to exclude GAAP historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate assets diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. Because FFO and AFFO exclude depreciation and amortization unique to real estate, gains and losses from property dispositions and extraordinary items, they provide a performance measure that, when compared year-over-year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities and interest costs, providing perspective not immediately apparent from net income.
Excel Trust computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, or NAREIT. As defined by NAREIT, FFO represents net income (loss) (computed in accordance with generally accepted accounting principles, or GAAP), excluding real estate-related depreciation and amortization, impairment charges and net gains (losses) on the disposition of assets.
Excel Trust computes AFFO by adding to FFO the non-cash compensation expense, amortization of prepaid financing costs and non-recurring transaction costs, and other one-time items, then subtracting or adding straight-line rents, amortization of above and below market leases and non-incremental capital expenditures. Excel Trust's computation of FFO and AFFO may differ from the methodology for calculating FFO and AFFO utilized by other equity REITs and, accordingly, may not be comparable to such other REITs. Further, FFO and AFFO do not represent amounts available for management's discretionary use because of needed capital replacement or expansion, debt service obligations, or other commitments and uncertainties.
FFO and AFFO should not be considered alternatives to net income (loss) (computed in accordance with GAAP) as an indicator of Excel Trust's financial performance or to cash flow from operating activities (computed in accordance with GAAP) as an indicator of Excel Trust's liquidity, nor are they indicative of funds available to fund Excel Trust's cash needs, including Excel Trust's ability to pay dividends or make distributions.
Summarized Financial Statements
Reported results are preliminary and not final until the filing of Excel Trust's Form 10-K for the period ended December 31, 2013 with the Securities and Exchange Commission and, therefore, remain subject to adjustment. The accompanying notes to follow in the Form 10-K are an integral part of these consolidated and combined financial statements.
Balance Sheets CONSOLIDATED BALANCE SHEETS (Dollars in thousands) December 31, 2013 December 31, 2012 ----------------- ----------------- ASSETS: Property: Land $ 380,366 $ 320,289 Buildings 642,356 564,352 Site improvements 63,242 51,875 Tenant improvements 54,025 42,903 Construction in progress 7,576 1,709 Less accumulated depreciation (61,479) (36,765) ----------------- ----------------- Property, net 1,086,086 944,363 Cash and cash equivalents 3,245 5,596 Restricted cash 8,147 5,657 Tenant receivables, net 5,117 5,376 Lease intangibles, net 78,345 85,646 Mortgage loan receivable - - Deferred rent receivable 9,226 5,983 Other assets 20,135 17,618 Real estate held for sale, net of accumulated amortization - - Investment in unconsolidated entities 8,520 9,015 ----------------- ----------------- Total assets $ 1,218,821 $ 1,079,254 ================= ================= LIABILITIES AND EQUITY: Liabilities: Mortgages payable, net $ 251,191 $ 333,935 Notes payable 279,500 75,000 Accounts payable and other liabilities 21,700 25,319 Lease intangibles, net 28,114 26,455 Dividends/distributions payable 10,932 9,773 ----------------- ----------------- Total liabilities 591,437 470,482 Equity: Stockholders' equity Preferred stock 136,423 136,423 Common stock 482 448 Additional paid-in capital 460,431 459,151 Cumulative deficit 18,110 (1,414) ----------------- ----------------- 615,446 594,608 Accumulated other comprehensive loss - (572) ----------------- ----------------- Total stockholders' equity 615,446 594,036 Non-controlling interests 11,938 14,736 ----------------- ----------------- Total equity 627,384 608,772 ----------------- ----------------- Total liabilities and equity $ 1,218,821 $ 1,079,254 ================= ================= Statements of Operations CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data and dividends per share) Three Months Three Months Twelve Twelve Ended Ended Months Ended Months Ended December 31, December 31, December 31, December 31, 2013 2012 2013 2012 ------------ ------------ ------------ ------------ Revenues: Rental revenue $ 24,609 $ 20,354 $ 92,294 $ 69,155 Tenant recoveries 4,777 3,538 18,875 13,835 Other income 419 459 1,373 1,431 ------------ ------------ ------------ ------------ Total revenues 29,805 24,351 112,542 84,421 Expenses: Maintenance and repairs 2,089 1,537 7,328 5,557 Real estate taxes 3,444 2,764 12,756 9,693 Management fees 440 313 1,772 851 Other operating expenses 1,487 1,293 6,194 4,028 Changes in fair value of contingent consideration - (160) (1,568) (281) General and administrative 3,335 3,641 13,871 13,796 Depreciation and amortization 11,534 10,311 46,146 34,800 ------------ ------------ ------------ ------------ Total expenses 22,329 19,699 86,499 68,444 ------------ ------------ ------------ ------------ Net operating income 7,476 4,652 26,043 15,977 Interest expense (5,193) (4,501) (18,944) (15,650) Interest income 58 48 204 173 Income (loss) from equity in unconsolidated entities 53 - 40 - Changes in fair value of financial instruments and gain on OP unit redemption - 418 230 1,530 ------------ ------------ ------------ ------------ Net income (loss) from continuing operations 2,394 617 7,573 2,030 Income from discontinued operations before gain on sale of real estate assets (18) 97 464 135 Gain on sale of real estate assets 81 - 12,055 - ------------ ------------ ------------ ------------ Income from discontinued operations 63 97 12,519 135 ------------ ------------ ------------ ------------ Net income (loss) 2,457 714 20,092 2,165 Net (income) loss attributable to non-controlling interests (79) 4 (568) 18 ------------ ------------ ------------ ------------ Net income (loss) attributable to Excel Trust, Inc. 2,378 718 19,524 2,183 Preferred stock dividends (2,744) (2,744) (10,976) (10,353) ------------ ------------ ------------ ------------ Net income (loss) attributable to the common stockholders $ (366) $ (2,026) $ 8,548 $ (8,170) ============ ============ ============ ============ Basic and diluted net income (loss) per share $ (0.01) $ - $ 0.17 $ - ============ ============ ============ ============ Weighted-average common shares outstanding - basic and diluted 47,672 - 46,926 - ============ ============ ============ ============ The notes in the Form 10-Q or 10-K are an integral part of these condensed consolidated financial statements. Reconciliation of Net Income to FFO and AFFO For the Periods Ended December 31, 2013 (In thousands, except per share data) Excel Trust, Inc.'s FFO and AFFO available to common stockholders and operating partnership unitholders and a reconciliation to net income(loss) for the three and twelve months ended December 31, 2013 and 2012 is as follows: Three Months Three Months Twelve Twelve Ended Ended Months Ended Months Ended December 31, December 31, December 31, December 31, 2013 2012 2013 2012 ------------ ------------ ------------ ------------ Net income (loss) attributable to the common stockholders $ (366) $ (2,188) $ 8,548 $ (8,490) Add: Non-controlling interests in operating partnership (7) (67) 233 (297) Depreciation and amortization 11,534 10,588 46,839 36,021 Deduct: Depreciation and amortization related to joint venture 175 237 1,054 72 Gain on sale of real estate assets (81) - (12,055) - ------------ ------------ ------------ ------------ Funds from operations $ 11,255 $ 8,570 $ 44,619 $ 27,306 Adjustments: Transaction costs 112 387 1,159 1,572 Deferred financing costs 448 457 1,748 1,867 Stock-based and other non-cash compensation expense 583 817 2,291 3,223 Changes in fair value of contingent consideration - (160) (1,568) (281) Changes in fair value of financial instruments - (418) (230) (1,530) Straight-line effects of lease revenue (764) (1,130) (3,352) (3,139) Amortization of above- and below- market leases 213 77 417 65 Non-incremental capital expenditures (396) (97) (973) (469) Non-cash expenses (income) related to joint venture (5) - (280) - ------------ ------------ ------------ ------------ Adjusted funds from operations $ 11,446 $ 8,503 $ 43,831 $ 28,614 ============ ============ ============ ============ Weighted average common shares outstanding 47,672 40,830 46,926 34,681 Add: OP units 1,100 1,272 1,198 1,231 Restricted stock 141 254 190 306 Contingent consideration related to business combinations - 20 73 LTIP restricted stock - - - - Common stock issuable upon conversion of preferred stock - - - - ------------ ------------ ------------ ------------ Weighted average common shares outstanding - diluted (FFO and AFFO) 48,913 42,376 48,314 36,291 ============ ============ ============ ============ Funds from operations per share (diluted) $ 0.23 $ 0.20 $ 0.92 $ 0.74 Adjusted funds from operations per share (diluted) $ 0.23 $ 0.20 $ 0.90 $ 0.78 ------------ ------------ ------------ ------------ Other Information: Leasing commissions paid $ 382 $ 333 $ 1,748 $ 755 Tenant improvements paid $ 1,065 $ 1,830 $ 7,548 $ 3,270
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
Sep. 30, 2014 10:30 AM EDT Reads: 1,385
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Sep. 29, 2014 06:45 AM EDT Reads: 1,838
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
Sep. 28, 2014 09:45 AM EDT Reads: 1,507
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Sep. 27, 2014 11:30 PM EDT Reads: 1,869
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
Sep. 27, 2014 10:30 PM EDT Reads: 1,793
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
Sep. 27, 2014 10:30 PM EDT Reads: 2,255
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
Sep. 27, 2014 09:45 PM EDT Reads: 2,451
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
Sep. 27, 2014 08:45 PM EDT Reads: 2,328
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
Sep. 27, 2014 01:00 PM EDT Reads: 2,013
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
Sep. 27, 2014 11:00 AM EDT Reads: 2,176
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
Sep. 26, 2014 11:45 PM EDT Reads: 1,502
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
Sep. 26, 2014 10:45 PM EDT Reads: 1,441
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
Sep. 26, 2014 07:45 PM EDT Reads: 2,261
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
Sep. 26, 2014 06:15 PM EDT Reads: 1,622
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Sep. 26, 2014 06:00 PM EDT Reads: 1,554
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
Sep. 26, 2014 05:00 PM EDT Reads: 1,554
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
Sep. 26, 2014 10:00 AM EDT Reads: 1,506
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
Sep. 26, 2014 10:00 AM EDT Reads: 2,036
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
Sep. 26, 2014 09:45 AM EDT Reads: 1,404
With the iCloud scandal seemingly in its past, Apple announced new iPhones, updates to iPad and MacBook as well as news on OSX Yosemite. Although consumers will have to wait to get their hands on some of that new stuff, what they can get is the latest release of iOS 8 that Apple made available for most in-market iPhones and iPads. Originally announced at WWDC (Apple’s annual developers conference) in June, iOS 8 seems to spearhead Apple’s newfound focus upon greater integration of their products into everyday tasks, cross-platform mobility and self-monitoring. Before you update your device, here is a look at some of the new features and things you may want to consider from a mobile security perspective.
Sep. 26, 2014 09:00 AM EDT Reads: 1,377