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Fairfax Financial Holdings Limited: Financial Results for the Year Ended December 31, 2013

TORONTO, ONTARIO -- (Marketwired) -- 02/13/14 --

(Note: All dollar amounts in this news release are expressed in U.S. dollars, except as otherwise noted. The financial results are reported under International Financial Reporting Standards, except as otherwise noted.)

Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) announces a fiscal year 2013 net loss of $573.4 million ($31.15 per diluted share after payment of preferred share dividends) compared to net earnings of $526.9 million ($22.68 per diluted share after payment of preferred share dividends) in 2012, reflecting unrealized losses on its investment portfolio, partially offset by improved underwriting results. Book value per basic share decreased to $339.00 at December 31, 2013 from $378.10 at December 31, 2012 (a decrease of 7.8% adjusted for the $10 per common share dividend paid in the first quarter of 2013).

Prem Watsa, Chairman and Chief Executive Officer of Fairfax, commented, "Our insurance companies had an outstanding year in 2013 with a combined ratio of 92.7% with excellent reserving and record underwriting profits. OdysseyRe had a record low combined ratio of 84% while Zenith made an underwriting profit for the first time since we purchased it in 2010. We realized gains from our common stock portfolios of $1.3 billion in 2013. Excluding all hedging losses and before mark to market fluctuations in our investment portfolio, we earned $1.9 billion in pre-tax income. Including all hedging losses and mark to market fluctuations in our investment portfolio, we reported a $0.6 billion after tax loss for 2013. We expect the unrealized mark to market losses to reverse in the future. Our common stock portfolios continue to be fully hedged. We continue to be soundly financed, with year-end cash and marketable securities in the holding company of $1.3 billion."

In the fourth quarter of 2013, Fairfax had a net loss of $5.5 million ($0.98 per diluted share after payment of preferred share dividends) compared to net earnings of $402.4 million in the fourth quarter of 2012 ($18.82 per diluted share after payment of preferred share dividends). The small loss in the fourth quarter of 2013 reflected unrealized losses on its investment portfolio, partially offset by improved underwriting results.

Highlights for 2013 included the following:


--  The combined ratio of the insurance and reinsurance operations was 92.7%
    on a consolidated basis, producing an underwriting profit of $440.0
    million, compared to a combined ratio and underwriting profit of 99.9%
    and $6.1 million respectively in 2012. 
    
--  Net premiums written by the insurance and reinsurance operations
    increased by 0.2% to $6,005.8 million compared to $5,995.0 million in
    2012. 
    
--  The insurance and reinsurance operations produced operating income
    (excluding net gains or losses on investments) of $770.2 million,
    compared to $298.5 million in 2012, primarily as a result of the
    improved underwriting.  
    
--  Interest and dividend income of $376.9 million decreased from $409.3
    million in 2012, primarily because of large holdings of cash and short
    term investments ($8,011.4 million at December 31, 2013). As of December
    31, 2013, subsidiary cash and short term investments accounted for 31.8%
    of the company's portfolio investments. Interest income as reported is
    unadjusted for the positive tax effect of the company's significant
    holdings of tax-advantaged debt securities (holdings of $4,781.6 million
    at December 31, 2013 and $5,292.5 million at December 31, 2012). 
    
--  Net investment losses of $1,564.0 million in 2013 (net investment gains
    of $642.6 million in 2012) consisted of the following: 
    

                                            Year ended December 31, 2013    
                                         -----------------------------------
                                                    ($ millions)            
                                            Realized  Unrealized            
                                               gains      gains   Net gains 
                                            (losses)    (losses)    (losses)
                                         ----------- ----------- -----------
Net gains (losses) on:                                                      
  Equity and equity-related investments     1,324.2       120.9     1,445.1 
  Equity hedges                            (1,350.7)     (631.3)   (1,982.0)
                                         ----------- ----------- -----------
  Equity and equity-related investments                                     
   after equity hedges                        (26.5)     (510.4)     (536.9)
  Bonds                                        65.9      (994.9)     (929.0)
  CPI-linked derivatives                          -      (126.9)     (126.9)
  Other                                       (10.5)       39.3        28.8 
                                         ----------- ----------- -----------
                                               28.9    (1,592.9)   (1,564.0)
                                         ----------- ----------- -----------
                                         ----------- ----------- -----------
                                                                            
                                                                            
                                               Fourth quarter of 2013       
                                        ------------------------------------
                                                    ($ millions)            
                                           Realized   Unrealized            
                                              gains       gains   Net gains 
                                           (losses)     (losses)    (losses)
                                        ----------- ------------ -----------
Net gains (losses) on:                                                      
  Equity and equity-related investments      745.8       (408.4)      337.4 
  Equity hedges                             (739.2)       166.6      (572.6)
                                        ----------- ------------ -----------
  Equity and equity-related investments                                     
   after equity hedges                         6.6       (241.8)     (235.2)
  Bonds                                        2.8       (104.2)     (101.4)
  CPI-linked derivatives                         -        (14.4)      (14.4)
  Other                                        9.0         12.9        21.9 
                                        ----------- ------------ -----------
                                              18.4       (347.5)     (329.1)
                                        ----------- ------------ -----------
                                        ----------- ------------ -----------

--  The company held $1,296.7 million of cash, short term investments and
    marketable securities at the holding company level ($1,241.6 million net
    of short sale and derivative obligations) at December 31, 2013, compared
    to $1,169.2 million ($1,128.0 million net of short sale and derivative
    obligations) at December 31, 2012. 
    
--  The company's total debt to total capital ratio was 26.1% at December
    31, 2013, compared to 25.5% at December 31, 2012. 
    
--  At December 31, 2013, common shareholders' equity was $7,186.7 million,
    or $339.00 per basic share, compared to $7,654.7 million, or $378.10 per
    basic share, at December 31, 2012. 

Highlights subsequent to the third quarter of 2013 included the following:


--  On October 3, 2013 the company acquired 100% of American Safety
    Insurance Holdings, Ltd. ("American Safety") for cash consideration of
    $317.1 million which was financed internally by the company's runoff,
    Crum & Forster and Hudson subsidiaries. On October 8, 2013 the company
    sold American Safety's Bermuda-based reinsurance subsidiary to an
    unrelated third party for net proceeds of $52.5 million. Certain lines
    of business formerly written by American Safety were assumed by Crum &
    Forster and Hudson, representing estimated annual gross premiums written
    of approximately $103 million. 
    
--  On November 15, 2013, the company completed an offering of 1 million
    subordinate voting shares at a price of Cdn$431.00 per share for net
    proceeds of Cdn$417.1 million. 

Fairfax holds significant investments in equity and equity-related securities. In response to the significant appreciation in equity market valuations and uncertainty in the economy, the company has hedged its equity investment exposure. At December 31, 2013, equity hedges represented approximately 98% of the company's equity and equity-related holdings. The market value and the liquidity of these hedges are volatile and may vary dramatically either up or down in short periods, and their ultimate value will therefore only be known over the long term.

There were 20.7 and 20.3 million weighted average shares outstanding during the fourth quarters of 2013 and 2012 respectively. At December 31, 2013, there were 21,200,002 common shares effectively outstanding.

Summarized (without notes) condensed consolidated balance sheets and statements of earnings and comprehensive income, along with segmented premium and combined ratio information, follow and form part of this news release. Fairfax's detailed fourth quarter report can be accessed at its website www.fairfax.ca.

As previously announced, Fairfax will hold a conference call to discuss its annual and fourth quarter results at 8:30 a.m. Eastern time on Friday, February 14, 2014. The call, consisting of a presentation by the company followed by a question period, may be accessed at 1 (800) 857-9641 (Canada or U.S.) or 1 (517) 308-9408 (International) with the passcode "Fairfax". A replay of the call will be available from shortly after the termination of the call until 5:00 p.m. Eastern time on Friday, February 28, 2014. The replay may be accessed at 1 (800) 627-0199 (Canada or U.S.) or 1 (203) 369-3299 (International).

Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

Certain statements contained herein may constitute forward-looking statements and are made pursuant to the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Fairfax to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: a reduction in net earnings if our loss reserves are insufficient; underwriting losses on the risks we insure that are higher or lower than expected; the occurrence of catastrophic events with a frequency or severity exceeding our estimates; changes in market variables, including interest rates, foreign exchange rates, equity prices and credit spreads, which could negatively affect our investment portfolio; the cycles of the insurance market and general economic conditions, which can substantially influence our and our competitors' premium rates and capacity to write new business; insufficient reserves for asbestos, environmental and other latent claims; exposure to credit risk in the event our reinsurers fail to make payments to us under our reinsurance arrangements; exposure to credit risk in the event our insureds, insurance producers or reinsurance intermediaries fail to remit premiums that are owed to us or failure by our insureds to reimburse us for deductibles that are paid by us on their behalf; risks associated with implementing our business strategies;

the timing of claims payments being sooner or the receipt of reinsurance recoverables being later than anticipated by us; the inability of our subsidiaries to maintain financial or claims paying ability ratings; risks associated with our use of derivative instruments; the failure of our hedging methods to achieve their desired risk management objective; a decrease in the level of demand for insurance or reinsurance products, or increased competition in the insurance industry; the failure of any of the loss limitation methods we employ; the impact of emerging claim and coverage issues; our inability to access cash of our subsidiaries; our inability to obtain required levels of capital on favourable terms, if at all; loss of key employees; our inability to obtain reinsurance coverage in sufficient amounts, at reasonable prices or on terms that adequately protect us; the passage of legislation subjecting our businesses to additional supervision or regulation, including additional tax regulation, in the United States, Canada or other jurisdictions in which we operate; risks associated with government investigations of, and litigation and negative publicity related to, insurance industry practice or any other conduct; risks associated with political and other developments in foreign jurisdictions in which we operate; risks associated with legal or regulatory proceedings; failures or security breaches of our computer and data processing systems; the influence exercisable by our significant shareholder; adverse fluctuations in foreign currency exchange rates; our dependence on independent brokers over whom we exercise little control; an impairment in the carrying value of our goodwill and indefinite-lived intangible assets; our failure to realize deferred income tax assets; and assessments and shared market mechanisms which may adversely affect our U.S. insurance subsidiaries. Additional risks and uncertainties are described in our most recently issued Annual Report which is available at www.fairfax.ca and in our Supplemental and Base Shelf Prospectus (under "Risk Factors") filed with the securities regulatory authorities in Canada, which is available on SEDAR at www.sedar.com. Fairfax disclaims any intention or obligation to update or revise any forward-looking statements.


CONSOLIDATED BALANCE SHEETS                                                 
as at December 31, 2013 and December 31, 2012                               
(unaudited - US$ millions)                                                  
                                                                            
                                                         December   December
                                                         31, 2013   31, 2012
                                                       ---------- ----------
Assets                                                                      
Holding company cash and investments (including assets                      
 pledged for short sale and derivative obligations -                        
 $124.4; December 31, 2012 - $140.2)                      1,296.7    1,169.2
Insurance contract receivables                            2,017.0    1,945.4
                                                       ---------- ----------
                                                          3,313.7    3,114.6
                                                       ---------- ----------
Portfolio investments                                                       
Subsidiary cash and short term investments                7,445.7    6,960.1
Bonds (cost $9,190.0; December 31, 2012 - $9,428.9)       9,550.5   10,803.6
Preferred stocks (cost $565.1; December 31, 2012 -                          
 $618.7)                                                    541.8      605.1
Common stocks (cost $3,305.5; December 31, 2012 -                           
 $4,066.3)                                                3,835.7    4,399.1
Investments in associates (fair value $1,815.0;                             
 December 31, 2012 - $1,782.4)                            1,432.5    1,355.3
Derivatives and other invested assets (cost $667.8;                         
 December 31, 2012 - $524.0)                                224.2      181.0
Assets pledged for short sale and derivative                                
 obligations (cost $829.3; December 31, 2012 - $791.1)      802.9      859.0
                                                       ---------- ----------
                                                         23,833.3   25,163.2
                                                       ---------- ----------
                                                                            
Deferred premium acquisition costs                          462.4      463.1
Recoverable from reinsurers (including recoverables on                      
 paid losses - $353.3; December 31, 2012 - $311.0)        4,974.7    5,290.8
Deferred income taxes                                     1,015.0      607.6
Goodwill and intangible assets                            1,311.8    1,321.2
Other assets                                              1,047.9      984.9
                                                       ---------- ----------
                                                         35,958.8   36,945.4
                                                       ---------- ----------
                                                       ---------- ----------
                                                                            
Liabilities                                                                 
Subsidiary indebtedness                                      25.8       52.1
Accounts payable and accrued liabilities                  1,800.4    1,877.7
Income taxes payable                                         80.1       70.5
Short sale and derivative obligations (including at the                     
 holding company - $55.1; December 31, 2012 - $41.2)        268.4      238.2
Funds withheld payable to reinsurers                        461.2      439.7
                                                       ---------- ----------
                                                          2,635.9    2,678.2
                                                       ---------- ----------
Insurance contract liabilities                           21,893.7   22,376.2
Long term debt                                            2,968.7    2,996.5
                                                       ---------- ----------
                                                         24,862.4   25,372.7
                                                       ---------- ----------
                                                                            
Equity                                                                      
Common shareholders' equity                               7,186.7    7,654.7
Preferred stock                                           1,166.4    1,166.4
                                                       ---------- ----------
Shareholders' equity attributable to shareholders of                        
 Fairfax                                                  8,353.1    8,821.1
Non-controlling interests                                   107.4       73.4
                                                       ---------- ----------
Total equity                                              8,460.5    8,894.5
                                                       ---------- ----------
                                                         35,958.8   36,945.4
                                                       ---------- ----------
                                                       ---------- ----------
                                                                            
                                                                            
CONSOLIDATED STATEMENTS OF EARNINGS                                         
for the three and twelve months ended December 31, 2013 and 2012            
(unaudited - US$ millions except per share amounts)                         
                                                                            
                                                        Year ended December 
                                     Fourth quarter             31,         
                                 --------------------- ---------------------
                                       2013       2012       2013       2012
                                 ---------- ---------- ---------- ----------
Revenue                                                                     
  Gross premiums written           1,675.6    1,899.9    7,227.1    7,398.3 
                                 ---------- ---------- ---------- ----------
  Net premiums written             1,430.7    1,597.7    6,036.2    6,194.1 
                                 ---------- ---------- ---------- ----------
                                                                            
  Gross premiums earned            1,856.7    2,110.0    7,294.0    7,294.8 
  Premiums ceded to reinsurers      (282.5)    (344.6)  (1,216.7)  (1,209.9)
                                 ---------- ---------- ---------- ----------
  Net premiums earned              1,574.2    1,765.4    6,077.3    6,084.9 
  Interest and dividends             104.1       73.4      376.9      409.3 
  Share of profit of associates       30.4       20.0       96.7       15.0 
  Net gains (losses) on                                                     
   investments                      (329.1)     635.6   (1,564.0)     642.6 
  Other revenue                      304.1      269.8      958.0      871.0 
                                 ---------- ---------- ---------- ----------
                                   1,683.7    2,764.2    5,944.9    8,022.8 
                                 ---------- ---------- ---------- ----------
Expenses                                                                    
  Losses on claims, gross          1,046.9    1,806.5    4,615.6    5,265.5 
  Losses on claims ceded to                                                 
   reinsurers                       (216.3)    (443.6)    (945.3)  (1,022.9)
                                 ---------- ---------- ---------- ----------
  Losses on claims, net              830.6    1,362.9    3,670.3    4,242.6 
  Operating expenses                 298.9      308.9    1,185.0    1,132.1 
  Commissions, net                   248.2      253.8      969.2      920.0 
  Interest expense                    51.3       52.2      211.2      208.2 
  Other expenses                     280.1      283.5      910.3      870.9 
                                 ---------- ---------- ---------- ----------
                                   1,709.1    2,261.3    6,946.0    7,373.8 
                                 ---------- ---------- ---------- ----------
Earnings (loss) before income                                               
 taxes                               (25.4)     502.9   (1,001.1)     649.0 
Provision for (recovery of)                                                 
 income taxes                        (23.6)      96.5     (436.6)     114.0 
                                 ---------- ---------- ---------- ----------
Net earnings (loss)                   (1.8)     406.4     (564.5)     535.0 
                                 ---------- ---------- ---------- ----------
                                 ---------- ---------- ---------- ----------
                                                                            
Attributable to:                                                            
Shareholders of Fairfax               (5.5)     402.4     (573.4)     526.9 
Non-controlling interests              3.7        4.0        8.9        8.1 
                                 ---------- ---------- ---------- ----------
                                      (1.8)     406.4     (564.5)     535.0 
                                 ---------- ---------- ---------- ----------
                                 ---------- ---------- ---------- ----------
                                                                            
Net earnings (loss) per share    $   (0.98) $   19.05  $  (31.15) $   22.95 
Net earnings (loss) per diluted                                             
 share                           $   (0.98) $   18.82  $  (31.15) $   22.68 
Cash dividends paid per share    $       -  $       -  $   10.00  $   10.00 
Shares outstanding (000)                                                    
 (weighted average)                 20,729     20,287     20,360     20,327 
                                                                            
                                                                            
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME                             
for the three and twelve months ended December 31, 2013 and 2012            
(unaudited - US$ millions)                                                  
                                                                            
                                                         Year ended December
                                       Fourth quarter            31,        
                                     ------------------- -------------------
                                          2013      2012      2013      2012
                                     --------- --------- --------- ---------
                                                                            
Net earnings (loss)                      (1.8)    406.4    (564.5)    535.0 
                                     --------- --------- --------- ---------
                                                                            
Other comprehensive income (loss),                                          
 net of income taxes                                                        
                                                                            
  Items that may be subsequently                                            
   reclassified to net earnings                                             
    Change in unrealized foreign                                            
     currency translation gains                                             
     (losses) on foreign operations     (50.5)    (25.0)   (164.4)     59.2 
    Change in gains (losses) on hedge                                       
     of net investment in Canadian                                          
     subsidiaries                        48.3      16.4      96.9     (20.4)
    Share of other comprehensive                                            
     income (loss) of associates,                                           
     excluding gains (losses) on                                            
     defined benefit plans                4.5      (7.3)    (12.9)    (10.1)
                                     --------- --------- --------- ---------
                                          2.3     (15.9)    (80.4)     28.7 
                                     --------- --------- --------- ---------
  Items that will not be subsequently                                       
   reclassified to net earnings                                             
    Share of gains (losses) on                                              
     defined benefit plans of                                               
     associates                           3.9      (0.1)      8.9     (10.9)
    Change in gains (losses) on                                             
     defined benefit plans               30.4     (13.7)     31.3     (17.2)
                                     --------- --------- --------- ---------
                                         34.3     (13.8)     40.2     (28.1)
                                     --------- --------- --------- ---------
                                                                            
Other comprehensive income (loss),                                          
 net of income taxes                     36.6     (29.7)    (40.2)      0.6 
                                     --------- --------- --------- ---------
Comprehensive income (loss)              34.8     376.7    (604.7)    535.6 
                                     --------- --------- --------- ---------
                                     --------- --------- --------- ---------
                                                                            
Attributable to:                                                            
Shareholders of Fairfax                  31.0     372.0    (607.1)    527.6 
Non-controlling interests                 3.8       4.7       2.4       8.0 
                                     --------- --------- --------- ---------
                                         34.8     376.7    (604.7)    535.6 
                                     --------- --------- --------- ---------
                                     --------- --------- --------- ---------

SEGMENTED INFORMATION

(unaudited - US$ millions)

Net premiums written and net premiums earned by the insurance and reinsurance operations (excluding Runoff) in the fourth quarters and years ended December 31, 2013 and 2012 were:

Net Premiums Written


                                                                            
                                                               Year ended   
                                           Fourth quarter     December 31,  
                                         ----------------- -----------------
                                             2013     2012     2013     2012
                                         -------- -------- -------- --------
Insurance - Canada (Northbridge)            262.4    243.0  1,031.4    948.7
          - U.S. (Crum & Forster and                                        
           Zenith National)                 446.8    408.1  1,933.2  1,872.8
          - Asia (Fairfax Asia)              66.5     59.2    257.4    240.6
Reinsurance - OdysseyRe                     541.0    573.8  2,376.9  2,402.3
Insurance and Reinsurance - Other            84.1    114.5    406.9    530.6
                                         -------- -------- -------- --------
Insurance and reinsurance operations      1,400.8  1,398.6  6,005.8  5,995.0
                                         -------- -------- -------- --------
                                         -------- -------- -------- --------

Net Premiums Earned


                                                                            
                                                               Year ended   
                                           Fourth quarter     December 31,  
                                         ----------------- -----------------
                                             2013     2012     2013     2012
                                         -------- -------- -------- --------
Insurance - Canada (Northbridge)            250.1    240.3    990.2    992.2
          - U.S. (Crum & Forster and                                        
           Zenith National)                 501.6    484.1  1,934.8  1,811.6
          - Asia (Fairfax Asia)              74.1     62.2    256.2    231.4
Reinsurance - OdysseyRe                     585.2    613.6  2,373.6  2,315.3
Insurance and Reinsurance - Other           112.9    150.9    439.5    514.3
                                         -------- -------- -------- --------
Insurance and reinsurance operations      1,523.9  1,551.1  5,994.3  5,864.8
                                         -------- -------- -------- --------
                                         -------- -------- -------- --------

Combined ratios of the insurance and reinsurance operations (excluding Runoff) in the fourth quarters and years ended December 31, 2013 and 2012 were:


                                                                            
                                                         Year ended December
                                       Fourth quarter            31,        
                                     ------------------- -------------------
                                         2013      2012      2013      2012 
                                     --------- --------- --------- ---------
Insurance - Canada (Northbridge)         90.4%    114.3%     98.2%    106.2%
          - U.S. (Crum & Forster and                                        
           Zenith National)              99.8%    122.6%    100.3%    111.4%
          - Asia (Fairfax Asia)          88.0%     84.4%     87.5%     87.0%
Reinsurance - OdysseyRe                  79.1%     94.4%     84.0%     88.5%
Insurance and Reinsurance - Other        91.5%    109.8%     96.6%    104.3%
                                     --------- --------- --------- ---------
Insurance and reinsurance operations     89.1%    107.4%     92.7%     99.9%
                                     --------- --------- --------- ---------
                                     --------- --------- --------- ---------

Contacts:
Fairfax Financial Holdings Limited
John Varnell
Vice President, Corporate Development
(416) 367-4941
www.fairfax.ca

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The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
With the iCloud scandal seemingly in its past, Apple announced new iPhones, updates to iPad and MacBook as well as news on OSX Yosemite. Although consumers will have to wait to get their hands on some of that new stuff, what they can get is the latest release of iOS 8 that Apple made available for most in-market iPhones and iPads. Originally announced at WWDC (Apple’s annual developers conference) in June, iOS 8 seems to spearhead Apple’s newfound focus upon greater integration of their products into everyday tasks, cross-platform mobility and self-monitoring. Before you update your device, here is a look at some of the new features and things you may want to consider from a mobile security perspective.