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

News Feed Item

Hastings Entertainment, Inc. Reports Results for the Fourth Quarter of Fiscal 2013

AMARILLO, Texas, March 24, 2014 /PRNewswire/ -- Hastings Entertainment, Inc.  (NASDAQ: HAST), a leading multimedia entertainment retailer, today reported results for the three months and fiscal year ended January 31, 2014.  Net income was approximately $2.3 million, or $0.29 per diluted share, for the three months ended January 31, 2014 compared to net income of approximately $1.2 million, or $0.15 per diluted share, for the three months ended January 31, 2013.  Net loss was approximately $10.2 million, or $1.25 per diluted share, for the fiscal year ended January 31, 2014 compared to a net loss of $9.3 million, or $1.14 per diluted share, for the fiscal year ended January 31, 2013.

"As we have previously disclosed, one of our strategic initiatives is the introduction of new product categories which include consumer electronics, music electronics and accessories, vinyl, hobby, recreation and lifestyle and tablets," said John H. Marmaduke, Chief Executive Officer and Chairman.  "The majority of these products are included in our Electronics category which had a comparable sales increase of 5.2% for the fourth quarter of fiscal 2013 which is on top of a 15.1% comparable sales increase for the fourth quarter of fiscal 2012. Several of the remaining new categories are included in our Trends department which had a 25.1% increase for the fourth quarter of fiscal 2013 which is on top of a 6.2% increase for the fourth quarter of fiscal 2012. This was driven by the stores that were reset during fiscal 2012 and thirty-three stores reset by the end of December of fiscal year 2013. The Electronic and Trends departments in these reset stores had significant increases in revenues when compared to the rest of our superstores that have not had a reset.  We are greatly encouraged by the performance of these new products.   With the launch of the PlayStation 4 and Xbox One game consoles our Video Game Comps increased 10.7% for the quarter which compares to a decrease of 22.0% for the fourth quarter of fiscal 2012.  Revenues for Music, Books and Rental continue to be impacted by the popularity of digital delivery, rental kiosks and subscription based services.

"In order to reduce our SG&A expenses in light of our lower revenue base, we underwent a restructuring of our corporate store support center which included staff reduction, department consolidation and the termination of four of our eight corporate officers.  The total cost of this restructuring was approximately $1.4 million which we recognized during the first quarter of fiscal 2013. Additionally, we closed ten underperforming stores in fiscal 2013.  For the fiscal year we reduced selling, general and administrative expenses by approximately $12.2 million excluding the restructuring charge."

Financial Results for the Fourth Quarter of Fiscal Year 2013

Revenues.  Total revenues for the fourth quarter decreased approximately $5.2 million, or 3.7%, to $136.4 million compared to $141.6 million for the fourth quarter of fiscal 2012.  As of January 31, 2014, we operated ten fewer Hastings superstores, as compared to January 31, 2013.  The following is a summary of our revenues results (dollars in thousands):




Three Months Ended January 31,





2014


2013


Increase/(Decrease)





Percent




Percent





Revenues


Of Total


Revenues


Of Total


Dollar


Percent

Merchandise Revenue

$

122,511


89.8%

$

125,992


89.0%

$

(3,481)


-2.8%

Rental Revenue


13,820


10.1%


15,608


11.0%


(1,788)


-11.5%

Gift Card Breakage













   Revenue


50


0.0%


40


0.0%


10


25.0%

     Total Revenues

$

136,381


100.0%

$

141,640


100.0%

$

(5,259)


-3.7%














Stores open at period end


130




140




(10)


-7.1%


Comparable-store revenues ("Comp")


     Total

1.2%

     Merchandise

2.2%

     Rental

-6.7%

Below is a summary of the Comp results for our major merchandise categories:


Three Months Ended January 31,


2014


2013

Trends

25.1%


6.2%

Video Games

10.7%


-22.0%

Electronics

5.2%


15.1%

Movies

1.4%


-0.8%

Consumables

-0.6%


-1.7%

Hardback Cafe

-3.7%


10.7%

Books

-8.2%


-4.5%

Music

-11.5%


-12.9%

Trends Comps increased 25.1% for the quarter, primarily due to increased sales in novelty gifts and toys, boxed games, action figures, children's toys, licensed and branded products and recreational and lifestyle products.  Licensed and branded products for which we experienced strong sales during the quarter were Sons of Anarchy, Walking Dead and Doctor Who.  The Trends department also includes recreation and lifestyles products whose growth was driven by the addition of hobby products to reset stores as well as pet accessories and outdoor accessories.  Hobby products showed significant growth during the quarter led by sales of remote control vehicles and model kits.  Video Games Comps increased 10.7% for the quarter, primarily due to the launch of the PlayStation 4 and Xbox One game consoles, as well as an increase in consumer purchases of new and used games.  Electronics Comps increased 5.2% for the quarter, primarily due to increased sales of big screen televisions and turntables.  In addition, with the release of two new iPhone models we had increased sales in phone accessories.  Movies Comps increased 1.4% for the quarter, primarily due to increased sales of new and used Blu-ray and traditional DVDs, partially offset by a decrease in Midline new and used DVDs.  Consumables Comps decreased 0.6% for the quarter, primarily due to lower sales of bottle drinks, fountain drinks and everyday consumable items, partially offset by an increase in seasonal candies.  Hardback Cafe Comps decreased 3.7% for the quarter, primarily due to the closing of seven Hardback Cafes which operated in comp stores.  Books Comps decreased 8.2% for the quarter, primarily due to a weaker release schedule for new books and a decrease in trade paperback sales, as compared to the fourth quarter of fiscal 2012, which included higher sales from the Fifty Shades trilogy.  Sales of digital hardware also decreased for the quarter as compared to the same period in the prior year.  Music Comps decreased 11.5% for the quarter, primarily due to a significant reduction in retail space in the 36 stores that were reset in fiscal 2013 as well as the increasing popularity of digital delivery, partially offset by the increased sales of new vinyl albums.

Rental Comps decreased 6.7% during the quarter, primarily due to fewer rentals of traditional DVDs and video games, partially offset by an increase in rentals of Blu-ray movies.  Rental Movie Comps decreased 5.4% for the fourth quarter as we continue to be affected by competitor rental kiosks and subscription-based rental services.  Rental Video Game Comps decreased 18.8%.

Gross Profit – Merchandise.  For the fourth quarter, total merchandise gross profit dollars decreased approximately $1.5 million, or 4.0%, to $36.4 million from $37.9 million for the same quarter in the prior year primarily due to a decrease in revenue and a slight decrease in margin rates. The decrease in revenue was primarily attributed to operating fewer superstores this quarter compared to the same period in the prior year.  As a percentage of total merchandise revenue, merchandise gross profit decreased to 29.7% for the quarter compared to 30.1% for the same quarter in the prior year, resulting primarily from a continued shift in mix of revenues by category and increased merchandise markdowns, partially offset by lower freight expense, lower expense to return products and lower shrinkage.

Gross Profit – Rental.  For the fourth quarter, total rental gross profit dollars decreased approximately $1.4 million, or 14.1%, to $8.5 million from $9.9 million for the same quarter in the prior year, due to a decrease in revenue partially attributed to operating fewer superstores this quarter compared to the same quarter in the prior year.  As a percentage of total rental revenue, rental gross profit decreased to 61.2% for the quarter compared to 63.2% for the same quarter in the prior year, primarily due to an increase in revenues under revenue sharing agreements, which generally have lower margins when compared to traditional agreements, partially offset by a decrease in depreciation and shrink expense.  Additionally, in an effort to gain market share, we were more promotional during the holiday season which had a negative impact on our margin rate.

Selling, General and Administrative Expenses ("SG&A").  As a percentage of total revenue, SG&A decreased to 31.0% for the fourth quarter compared to 32.6% for the same period in the prior year due to a significant reduction in SG&A expenses.  SG&A decreased approximately $4.0 million during the quarter, or 8.7%, to $42.2 million compared to $46.2 million for the same quarter last year.  The majority of the decrease results primarily from a $1.0 million reduction in store labor expense, a $0.7 million reduction in depreciation expense and a $0.5 million reduction in store advertising expense, all of which were primarily the result of operating fewer superstores this quarter compared to the same period in the prior year.  Several other SG&A expenses had smaller decreases or increases during the quarter which netted to an additional $1.8 million decrease for the fourth quarter. 

Interest Expense.  For both the fourth quarter of fiscal 2013 and fiscal 2012, interest expense was approximately $0.3 million.  Interest rates for both quarters averaged 2.5%.

Income Taxes.  The effective tax rate for the fourth quarter was 2.7% primarily due to Texas state income tax, which is based primarily on gross margin. 

Financial Results for the Fiscal Year Ended January 31, 2014

Revenues.  Total revenues for the fiscal year ended January 31, 2014 decreased approximately $26.5 million, or 5.7%, to $436.0 million compared to $462.5 million for the fiscal year ended January 31, 2013.  The following is a summary of our revenues results (dollars in thousands):




Fiscal Year Ended January 31,





2014


2013


Increase/(Decrease)





Percent




Percent





Revenues


Of Total


Revenues


Of Total


Dollar


Percent

Merchandise Revenue

$

382,578


87.8%

$

402,735


87.1%

$

(20,157)


-5.0%

Rental Revenue


53,043


12.2%


59,846


12.9%


(6,803)


-11.4%

Gift Card Breakage 













   Revenue


341


0.1%


(80)


0.0%


421


NM

     Total Revenues

$

435,962


100.0%

$

462,501


100.0%

$

(26,539)


-5.7%














Stores open at period end


130




140




(10)


-7.1%


Comparable-store revenues ("Comp")

     Total

-2.8%

     Merchandise

-2.0%

     Rental

-7.7%

Below is a summary of the Comp results for our major merchandise categories:


Fiscal Year Ended January 31,


2014


2013

Trends

15.2%


8.7%

Electronics

9.9%


12.9%

Movies

2.2%


-1.1%

Hardback Cafe

1.1%


11.1%

Consumables

-2.5%


1.5%

Video Games

-2.9%


-21.8%

Books

-10.7%


-1.3%

Music

-12.5%


-12.0%

Trends Comps increased 15.2% for fiscal 2013, primarily due to strong sales in toys and gifts, action figures, comic books, licensed and branded products and recreational and lifestyle products.  Licensed and branded products for which we experienced strong sales during the period were Walking Dead, Star Wars and Doctor Who.  The Trends department also includes recreation and lifestyles products whose growth was driven by the addition of hobby products, pet accessories and outdoor accessories to reset stores as well as the growth in the existing categories of skateboards and disc golf.  Hobby products showed significant growth during fiscal 2013 led by sales of remote control vehicles and model kits.  Electronics Comps increased 9.9% for fiscal 2013, primarily due to increased sales in hardware categories, such as televisions, turntables and speaker systems. Strong growth was also realized in refurbished electronics.  Movies Comps increased 2.2% for fiscal 2013, primarily due to increased sales of new and used Blu-ray, traditional and boxed set DVDs, partially offset by new, previously viewed and used Midline DVDs.  Hardback Cafe Comps increased 1.1%, due to higher sales of iced and hot specialty cafe drinks, partially offset by a decrease in retail products such as mugs and baked goods.  Consumables Comps decreased 2.5%, primarily due to decreased sales in popcorn, candies, and fountain drinks.  Video Games Comps decreased only 2.9% for fiscal 2013, primarily due to the release of the PlayStation 4 and the Xbox One game consoles in the fourth quarter as well as increased sales in new and used games.  Books Comps decreased 10.7%, primarily due to a weaker release schedule for new books and a decrease in trade paperback and hardback sales, as compared to fiscal 2012, which included strong sales from the Fifty Shades and Hunger Games trilogies.  In addition, sales of digital hardware decreased significantly for fiscal 2013 as compared to fiscal 2012.  Music Comps decreased 12.5% for the period, primarily due to a significant reduction in retail space in the 36 stores that were reset in fiscal 2013 as well as the increasing popularity of digital delivery, partially offset by the increased sales of new and used vinyl albums.

Rental Comps decreased 7.7% for fiscal 2013 primarily resulting from fewer rentals of traditional DVDs and video games, partially offset by an increase in rentals of Blu-ray movies.  Rental Movie Comps decreased 6.3% primarily due to competition from rental kiosks and subscription-based rental services.  Rental Video Game Comps decreased 19.8%.

Gross Profit – Merchandise.  For fiscal 2013, total merchandise gross profit dollars decreased approximately $7.6 million, or 6.0%, to $119.9 million from $127.5 million for the same period in the prior year primarily due to a decrease in revenue which is primarily attributed to operating fewer superstores for the same period in the prior year.  As a percentage of total merchandise revenue, merchandise gross profit slightly decreased to 31.4% for fiscal 2013, compared to 31.7% for fiscal 2012, primarily due to a shift in mix of revenues by category and higher markdown expenses, partially offset by lower freight expense, lower expense to return products and lower shrinkage.

Gross Profit – Rental.  For fiscal 2013, total rental gross profit dollars decreased approximately $5.1 million, or 13.0%, to $34.0 million from $39.1 million for the same period in the prior year primarily due to a decrease in revenue which is partially attributed to operating fewer superstores for the same period in the prior year.  As a percentage of total rental revenue, rental gross profit decreased to 64.0% for fiscal 2013 compared to 65.3% for the prior year, primarily due to an increase in revenues under revenue sharing agreements, which generally have lower margins when compared to traditional agreements.  The rate decrease in partially offset by a decrease in depreciation and shrink expense.

Selling, General and Administrative Expenses ("SG&A").  As a percentage of total revenue, SG&A decreased to 37.5% for fiscal year 2013 compared to 37.7% for fiscal year 2012, due to a significant reduction in SG&A expenses.  SG&A decreased approximately $10.8 million, or 6.2%, to $163.7 million compared to $174.5 million for the same period last year.  The majority of the decrease results primarily from a $3.3 million reduction in store labor expense, a $2.3 million reduction in depreciation expense, a decrease of $1.7 million in store advertising expense and a decrease of $0.6 million in store supplies, all of which were primarily the result of operating fewer superstores during this fiscal year compared to last fiscal year.  There was a $1.9 million reduction in corporate salary expense due to lower bonus payouts and the restructuring that took place in the first quarter of fiscal 2013. Several other SG&A expenses had smaller decreases or increases during the year which netted to an additional $1.0 million decrease for fiscal 2013. 

Interest Expense.  For fiscal 2013, interest expense increased approximately $0.1 million, or 8.3%, to $1.3 million, compared to $1.2 million for fiscal 2012.  The increase results primarily from higher debt levels.  Interest rates for both periods averaged 2.5%. 

Income Taxes.  During fiscal 2013, the Company recorded a discrete tax benefit of approximately $0.5 million from the recognition of a tax position due to a change in state administrative practices.  No discrete items were recorded during fiscal 2012.

As the Company has a net operating loss and a net deferred tax asset, which has been offset by a full valuation allowance at the end of fiscal 2013, there is no tax liability, with the exception of Texas state income tax; therefore, considering the discrete tax benefit described above and the Texas state income tax, the effective tax rate for fiscal year 2013 is (2.3%).  The valuation allowance is approximately $14.3 million as of January 31, 2014.  We reassess the valuation quarterly, and if future evidence allows for a partial or full release of the valuation allowance, a tax benefit will be recorded accordingly.

Store Activity

Since December 6, 2013, which was the last date we reported store activity, we have the following activity to report.

  • Store closed in Borger, Texas in February 2014

Safe Harbor Statement

This press release contains "forward-looking statements."  Hastings Entertainment, Inc. is including this statement for the express purpose of availing itself of the protections of the safe harbor provided by the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements.  These forward-looking statements are based on currently available information and represent the beliefs of the management of the Company.  These statements are subject to risks and uncertainties that could cause actual results to differ materially.  These risks include, but are not limited to, consumer appeal of our existing and planned product offerings, and the related impact of competitor pricing and product offerings; overall industry performance and the accuracy of our estimates and judgments regarding trends; our ability to obtain favorable terms from suppliers; our ability to respond to changing consumer preferences, including with respect to new technologies and alternative methods of content delivery, and to effectively adjust our offerings if and as necessary; the application and impact of future accounting policies or interpretations of existing accounting policies; unanticipated adverse litigation results or effects; the effects of a continued deterioration in economic conditions in the U.S. or the markets in which we operate our stores; the effect of inclement weather on the ability of consumers to reach our stores; and other factors which may be outside of the company's control.  We undertake no obligation to affirm, publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.  Please refer to the company's annual, quarterly, and periodic reports on file with the Securities and Exchange Commission for a more detailed discussion of these and other risks that could cause results to differ materially.

About Hastings

Founded in 1968, Hastings Entertainment, Inc. is a leading multimedia entertainment retailer that combines the sale of new and used books, videos, video games and CDs, and trends and consumer electronics merchandise, with the rental of videos and video games in a superstore format.  We currently operate 126 superstores, averaging approximately 24,000 square feet, primarily in medium-sized markets throughout the United States.  We also operate three concept stores, Sun Adventure Sports, located in Amarillo, Texas and Lubbock, Texas, and TRADESMART, located in Littleton, Colorado.

We operate www.goHastings.com, an e-commerce Internet web site that makes available to our customers new and used entertainment products and unique, contemporary gifts and toys.  The site features exceptional product and pricing offers.  The Investor Relations section of our web site contains press releases, a link to request financial and other literature and access to our filings with the Securities and Exchange Commission.


 


Consolidated Balance Sheets

(Dollars in thousands)




January 31,


January 31,



2014


2013



(unaudited)



Assets





Current assets





   Cash and cash equivalents

$

3,753

$

3,730

   Merchandise inventories, net


152,138


145,337

   Prepaid expenses and other current assets


10,394


10,427

         Total current assets


166,285


159,494






Rental assets, net


10,227


11,353

Property and equipment, net


29,212


32,099

Intangible assets, net


244


244

Other assets


677


2,792






Total assets

$

206,645

$

205,982






Liabilities and shareholders' equity





Current liabilities





   Trade accounts payable

$

57,236

$

54,928

   Accrued expenses and other current liabilities


28,359


27,396

         Total current liabilities


85,595


82,324






Long-term debt, excluding current maturities


51,749


41,805

Deferred income taxes


60


50

Other liabilities


5,239


7,828






Shareholders' equity





   Preferred stock



   Common stock


119


119

   Additional paid-in capital


36,412


36,375

   Retained earnings


48,460


58,642

   Accumulated other comprehensive income


347


247

   Treasury stock, at cost


(21,336)


(21,408)

         Total shareholders' equity


64,002


73,975






Total liabilities and shareholders' equity

$

206,645

$

205,982





Consolidated Statements of Operations

(In thousands, except per share data)




Three months ended


Fiscal year ended



January 31,


January 31,



2014


2013


2014


2013



(unaudited)


(unaudited)


(unaudited)












Merchandise revenue

$

122,511

$

125,992

$

382,578

$

402,735

Rental revenue


13,820


15,608


53,043


59,846

Gift card breakage revenue


50


40


341


(80)

   Total revenues


136,381


141,640


435,962


462,501










Merchandise cost of revenue


86,112


88,100


262,639


275,251

Rental cost of revenue


5,368


5,744


19,071


20,779

   Total cost of revenues


91,480


93,844


281,710


296,030










   Gross profit


44,901


47,796


154,252


166,471










Selling, general and administrative expenses


42,226


46,178


163,698


174,461










   Operating income (loss)


2,675


1,618


(9,446)


(7,990)










Other income (expense):









   Interest expense, net


(345)


(302)


(1,283)


(1,173)

   Other, net


69


17


302


147










   Income (loss) before income taxes


2,399


1,333


(10,427)


(9,016)










Income tax expense (benefit)


65


123


(244)


297










   Net income (loss)

$

2,334

$

1,210

$

(10,183)

$

(9,313)










Basic income (loss) per share

$

0.29

$

0.15

$

(1.25)

$

(1.14)










Diluted income (loss) per share

$

0.29

$

0.15

$

(1.25)

$

(1.14)










Weighted-average common shares

   outstanding:









     Basic


8,143


8,168


8,142


8,202

     Dilutive effect of stock awards


11


48












     Diluted


8,154


8,216


8,142


8,202

 

 

 


Consolidated Statements of Cash Flows

(Dollars in thousands)




Fiscal year ended January 31,



2014


2013



(unaudited)



Cash flows from operating activities:





 Net loss

$

(10,183)

$

(9,313)

 Adjustments to reconcile net loss to net 

   cash provided by (used in) operations:





     Rental asset depreciation expense


3.920


6,187

     Purchases of rental assets


(7,849)


(11,072)

     Property and equipment depreciation expense


12,552


14,948

     Deferred income taxes


10


8

     Loss on rental assets lost, stolen and defective


654


985

     Loss on disposal or impairment of property and equipment,

        excluding rental assets


607


1,411

     Non-cash stock-based compensation


180


704






Changes in operating assets and liabilities:





     Merchandise inventories, net


(2,397)


11,209

     Prepaid expenses and other current assets


1,963


4,802

     Trade accounts payable


861


1,895

     Accrued expenses and other current liabilities


(644)


1,246

     Other assets and liabilities, net


(698)


(806)

        Net cash provided by (used in) operating activities


(1,024)


22,204

 

Cash flows from investing activities:





    Purchases of property and equipment


(10,274)


(9,008)

        Net cash used in investing activities


(10,274)


(9,008)






Cash flows from financing activities:





    Borrowings  under revolving credit facility


437,022


433,850

Repayments under revolving credit facility


(427,078)


(445,324)

    Purchase of treasury stock


(128)


(542)

    Cash dividends paid



(3,062)

    Change in cash overdraft


1,447


1,765

    Deferred financing costs paid



(325)

    Proceeds from exercise of stock options


58


        Net cash provided by (used in) financing activities


11,321


(13,638)






Net increase (decrease) in cash


23


(442)






Cash at beginning of period


3,730


4,172






Cash at end of period

$

3,753

$

3,730



Balance Sheet and Other Ratios ( A )

(Dollars in thousands, except per share amounts)




January 31,

2014


January 31,

2013

Merchandise inventories, net

$

152,138

$

145,337

Inventory turns, trailing 12 months ( B )


1.77


1.85






Long-term debt

$

51,749

$

41,805

Long-term debt to total capitalization ( C )


44.7%


36.1%






Book value ( D )

$

64,002

$

73,975






Book value per share ( E )

$

7.86

$

9.02


Three Months Ended January 31,


Fiscal Year Ended January 31,


2014

2013


2014


2013

Comparable-store revenues ( F ):







   Total

1.2%

-5.7%


-2.8%


-5.1%

   Merchandise

2.2%

-5.1%


-2.0%


-3.7%

   Rental

-6.7%

-10.1%


-7.7%


-12.9%

 

( A )

Calculations may differ in the method employed from similarly titled measures used by other companies.

( B )

Calculated as merchandise cost of goods sold for the period's trailing twelve months divided by average merchandise inventory over the same period.

( C )

Defined as long-term debt divided by long-term debt plus total shareholders' equity (book value).

( D )

Defined as total shareholders' equity.

( E )

Defined as total shareholders' equity divided by weighted average diluted shares outstanding for the fiscal year ended January 31, 2014 and 2013, respectively.

( F )

Stores included in the comparable-store revenues calculation are those stores that have been open for a minimum of 60 weeks.  Also included are stores that are remodeled or relocated during the comparable period.  Gift card breakage revenues are not included, and closed stores are removed from each comparable period for the purpose of calculating comparable-store revenues. 

SOURCE Hastings Entertainment, 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
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 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 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.
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...
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...
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, 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 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 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...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
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...
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
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...
"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.