SYS-CON MEDIA Authors: Roberto Medrano, Dmitriy Stepanov, Gilad Parann-Nissany, Srinivasan Sundara Rajan, Sean Houghton

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Universal Health Services, Inc. Reports 2014 First Quarter Financial Results And Acquisition Of Behavioral Health Care Facility In Washington, D.C.

Consolidated Results of Operations, As Reported - Three-month periods ended March 31, 2014 and 2013:

KING OF PRUSSIA, Pa., April 24, 2014 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS was $138.1 million, or $1.38 per diluted share, during the first quarter of 2014 as compared to $119.8 million, or $1.21 per diluted share, during the comparable quarter of 2013.  Net revenues increased 4.8% to $1.92 billion during the first quarter of 2014 as compared to $1.83 billion during the first quarter of 2013. 

Consolidated Results of Operations, As Adjusted – Three-month periods ended March 31, 2014 and 2013:

For the three-month period ended March 31, 2014, our adjusted net income attributable to UHS, as calculated on the attached Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule"), increased 13.8% to $136.7 million, or $1.36 per diluted share, as compared to $120.1 million, or $1.22 per diluted share, during the first quarter of 2013.     

As reflected on the Supplemental Schedule, included in our reported results during the first quarter of 2014 was an aggregate net favorable after-tax impact of approximately $1.4 million, or $.02 per diluted share, consisting of: (i) a favorable after-tax impact of $6.3 million, or $.07 per diluted share, resulting from a gain realized on the sale of a non-operating investment, and; (ii) a net unfavorable after-tax impact of approximately $4.9 million, or $.05 per diluted share, related to the incentive income and depreciation and amortization expense recorded in connection with the implementation of electronic health records ("EHR") applications at our acute care hospitals.   

As reflected on the Supplemental Schedule, included in our reported results during the first quarter of 2013, was a net unfavorable after-tax impact of $327,000, or $.01 per diluted share, related to the incentive income and expenses recorded in connection with EHR applications at our acute care hospitals.  

Acute Care Services – Three-month periods ended March 31, 2014 and 2013:

During the first quarter of 2014, at our acute care hospitals owned during both periods ("same facility basis"), adjusted admissions (adjusted for outpatient activity) decreased 0.5% and adjusted patient days increased 4.6%, as compared to the first quarter of 2013. Net revenues at these facilities increased 5.8% during the first quarter of 2014 as compared to the comparable quarter of the prior year. At these facilities, net revenue per adjusted admission increased 6.3% while net revenue per adjusted patient day increased 1.1% during the first quarter of 2014 as compared to the comparable quarter of 2013. On a same facility basis, the operating margin at our acute care hospitals was 19.8% during the first quarter of 2014 as compared to 16.0% during the first quarter of 2013. We define operating margin as net revenues less salaries, wages and benefits, other operating expenses and supplies expense (excluding the EHR impact, as indicated on the Supplemental Schedule).

We provide care to patients who meet certain financial or economic criteria without charge or at amounts substantially less than our established rates. Because we do not pursue collection of amounts determined to qualify as charity care, they are not reported in net revenues or in accounts receivable, net. Our acute care hospitals provided charity care and uninsured discounts, based on gross charges, amounting to approximately $320 million and $230 million during the three-month periods ended March 31, 2014 and 2013, respectively. The increase in charity care and uninsured discounts during the first quarter of 2014 was offset by a decrease in the provision for doubtful accounts which amounted to approximately $182 million during the first quarter of 2014 as compared to approximately $218 million during the first quarter of 2013.  As a percentage of gross charges for our acute care hospitals, charity care, uninsured discounts and provision for doubtful accounts decreased slightly during the first quarter of 2014 as compared to the first quarter of 2013. 

Behavioral Health Care Services – Three-month periods ended March 31, 2014 and 2013:

During the first quarter of 2014, at our behavioral health care facilities on a same facility basis, adjusted admissions increased 2.3% while adjusted patient days remained relatively unchanged as compared to the first quarter of 2013. At these facilities, net revenue per adjusted admission remained relatively unchanged while net revenue per adjusted patient day increased 2.1% during the first quarter of 2014 over the comparable quarter in 2013. On a same facility basis, our behavioral health services' net revenues increased 3.7% during the first quarter of 2014, as compared to the comparable quarter in 2013, and the operating margins were 27.9% and 28.5% during the three-month periods ended March 31, 2014 and 2013, respectively.   

Behavioral Health Care Acquisition

We have completed the acquisition of the Psychiatric Institute of Washington ("PIW"), a 124-bed behavioral health care facility and outpatient treatment center located in the District of Columbia.  As part of this transaction, we also acquired the Arbor Group, L.L.C., which operates three management contracts covering 66 beds in the Washington, D.C. and Maryland market. "We are pleased to have been selected to continue PIW's forty-five year tradition of providing high quality behavioral health services to the region," said Alan B. Miller, Chief Executive Officer.  "The acquisition of PIW complements our 371-bed George Washington University Hospital and further strengthens our presence and commitment to this very important market."

Conference call information:

We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on April 25, 2014. The dial-in number is 1-877-648-7971. 

A live broadcast of the conference call will be available on our website at www.uhsinc.com.  A replay of the call will be available following the conclusion of the live call and will be available for one full year.

General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:

Universal Health Services, Inc. ("UHS") is one of the nation's largest hospital companies, operating acute care and behavioral health hospitals and ambulatory centers nationwide and in Puerto Rico and the U.S. Virgin Islands.  It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE: UHT).  For additional information on the Company, visit our web site: http://www.uhsinc.com.

This press release contains forward-looking statements based on current management expectations.  Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 1A-Risk Factors and in Item 7-Forward-Looking Statements and Risk Factors in our Form 10-K for the year ended December 31, 2013), may cause the results to differ materially from those anticipated in the forward-looking statements.  The operating pressures that we continue to experience in many of our acute care markets has increased the volatility of our financial results making estimation of future results more challenging.  Many of the factors that will determine our future results are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially.  Readers should not place undue reliance on such forward-looking statements which reflect management's view only as of the date hereof.  We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Our acute care hospitals are eligible for Medicare and Medicaid EHR incentive payments upon implementation of the EHR application, once they have demonstrated meaningful use of certified EHR technology for the applicable stage or have completed attestations to their adoption or implementation of certified EHR technology.  However, there may be timing differences in the recognition of the incentive income and expenses recorded in connection with the implementation of the EHR application which may cause material period-to-period changes in our future results of operations. Hospitals that do not qualify as a meaningful user of EHR by 2015 are subject to a reduced market basket update to the inpatient prospective payment system standardized amount in 2015 and each subsequent fiscal year. Although we believe that our acute care hospitals will be in compliance with the EHR standards by 2015, there can be no assurance that all of our facilities will be in compliance and therefore not subject to the penalty provision of the HITECH Act. 

We believe that operating income, operating margin, adjusted net income attributable to UHS, adjusted net income attributable to UHS per diluted share and earnings before interest, taxes, depreciation and amortization ("EBITDA"), which are non-GAAP financial measures ("GAAP" is Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that, when applicable, comparing and discussing our financial results based on these measures, as calculated, is helpful to our investors since it neutralizes the effect in each year of material items that are nonrecurring or non-operational in nature including items such as, but not limited to, costs related to extinguishment of debt, gains on sales of assets and businesses, reserves for settlements, legal judgments and lawsuits and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods.  To obtain a complete understanding of our financial performance these measures should be examined in connection with net income, determined in accordance with GAAP, as presented in the condensed consolidated financial statements and notes thereto in this report or in our other filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2013. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability.  Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies.  Investors are encouraged to use GAAP measures when evaluating our financial performance.

(more)

 

Universal Health Services, Inc.

Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)






Three months


ended March 31,


2014


2013





Net revenues before provision for doubtful accounts

$2,128,350


$2,078,348

  Less: Provision for doubtful accounts

208,184


246,716

Net revenues

1,920,166


1,831,632





Operating charges:




   Salaries, wages and benefits

935,365


902,296

   Other operating expenses

381,760


381,007

   Supplies expense

215,798


204,642

   Depreciation and amortization

93,359


79,812

   Lease and rental expense

23,338


24,665

   Electronic health records incentive income

(430)


(4,712)


1,649,190


1,587,710





Income from operations

270,976


243,922





Interest expense, net

35,193


39,938





Income before income taxes

235,783


203,984





Provision for income taxes

83,931


74,049





Net income

151,852


129,935





Less:  Income attributable to




noncontrolling interests

13,774


10,151





Net income attributable to UHS

$138,078


$119,784

























Basic earnings per share attributable to UHS (a)

$1.40


$1.23





Diluted earnings per share attributable to UHS (a)

$1.38


$1.21





 

 

Universal Health Services, Inc.

Footnotes to Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)






Three months


ended March 31,


2014


2013





(a) Earnings per share calculation:








Basic and diluted:




Net income attributable to UHS

$138,078


$119,784

Less: Net income attributable to unvested restricted share grants

(70)


(69)

Net income attributable to UHS - basic and diluted

$138,008


$119,715





Weighted average number of common shares - basic

98,572


97,711





Basic earnings per share attributable to UHS:

$1.40


$1.23





Weighted average number of common shares

98,572


97,711

Add: Other share equivalents

1,585


860

Weighted average number of common shares and equiv. - diluted

100,157


98,571





Diluted earnings per share attributable to UHS:

$1.38


$1.21





 

 

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule")

For the three months ended March 31, 2014 and 2013

(in thousands, except per share amounts)

(unaudited)

























Calculation of "EBITDA"










Three months ended


Three months ended


March 31, 2014


March 31, 2013

















Net revenues before provision for doubtful accounts

$2,128,350




$2,078,348



  Less: Provision for doubtful accounts

208,184




246,716



Net revenues

1,920,166


100.0%


1,831,632


100.0%









Operating charges:








   Salaries, wages and benefits

935,365


48.7%


902,296


49.3%

   Other operating expenses

381,760


19.9%


381,007


20.8%

   Supplies expense

215,798


11.2%


204,642


11.2%

   EHR incentive income

(430)


0.0%


(4,712)


-0.3%


1,532,493


79.8%


1,483,233


81.0%









Operating income/margin ("EBITDAR")

387,673


20.2%


348,399


19.0%









   Lease and rental expense

23,338




24,665



   Income attributable to noncontrolling interests

13,774




10,151











Earnings before, depreciation and amortization, interest expense, and income taxes ("EBITDA")

350,561


18.3%


313,583


17.1%









   Depreciation and amortization

93,359




79,812



   Interest expense, net

35,193




39,938











Income before income taxes 

222,009




193,833











Provision for income taxes

83,931




74,049



Net income attributable to UHS

$138,078




$119,784



















Calculation of Adjusted Net Income Attributable to UHS










Three months ended


Three months ended


March 31, 2014


March 31, 2013




Per




Per


Amount


Diluted Share


Amount


Diluted Share

Calculation of Adjusted Net Income Attributable to UHS - including and excluding EHR impact:








Net income attributable to UHS

$138,078


$1.38


$119,784


$1.21

Plus/minus adjustments:








  Gain on sale of investment, net of income taxes

(6,330)


(0.07)


-


-

Adjusted net income attributable to UHS - including Electronic Health Records ("EHR") impact

$131,748


$1.31


$119,784


$1.21









Plus/minus impact of EHR implementation: 








EHR-related incentive income, pre-tax

(430)




(4,712)



EHR-related salaries, wages and benefits, pre-tax

-




326



EHR-related other operating costs, pre-tax

-




(35)



EHR-related depreciation & amortization, pre-tax

9,290




5,486



EHR-related minority interest in earnings of consolidated entities, pre-tax

(966)




(541)



Income tax provision on EHR-related items 

(2,948)




(197)



After-tax impact of EHR-related items

4,946


0.05


327


0.01

Adjusted net income attributable to UHS

$136,694


$1.36


$120,111


$1.22









 

 

Universal Health Services, Inc.

Consolidated Statements of Comprehensive Income

(in thousands)

(unaudited)






Three months


ended March 31,


2014


2013





Net income

$151,852


$129,935

Other comprehensive income (loss):




   Unrealized derivative gains (loss) on cash flow hedges

3,745


4,535

   Amortization of terminated hedge

(84)


(84)

Other comprehensive income before tax

3,661


4,451

Income tax expense related to items of other comprehensive income

1,354


1,678

Total other comprehensive income, net of tax

2,307


2,773





Comprehensive income

154,159


132,708

Less: Comprehensive income attributable to noncontrolling interests

13,774


10,151

Comprehensive income attributable to UHS

$140,385


$122,557





 

 

Universal Health Services, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)











March 31,



December 31,




2014



2013

Assets







Current assets:







    Cash and cash equivalents


$

16,261


$

17,238

    Accounts receivable, net



1,212,594



1,116,961

    Supplies



102,276



101,781

    Deferred income taxes



114,297



119,903

    Other current assets



97,685



76,446

          Total current assets



1,543,113



1,432,329








Property and equipment



5,789,393



5,691,902

Less: accumulated depreciation



(2,321,221)



(2,249,733)




3,468,172



3,442,169








Other assets:







    Goodwill



3,053,666



3,049,016

    Deferred charges



53,521



57,881

    Other



312,913



330,328



$

8,431,385


$

8,311,723








Liabilities and Stockholders' Equity







Current liabilities:







    Current maturities of long-term debt


$

103,641


$

99,312

    Accounts payable and accrued liabilities



954,902



953,449

    Federal and state taxes



51,905



7,127

          Total current liabilities



1,110,448



1,059,888








Other noncurrent liabilities



282,173



284,589

Long-term debt



3,109,158



3,209,762

Deferred income taxes



257,344



239,148








Redeemable noncontrolling interest



228,107



218,107








UHS common stockholders' equity



3,392,119



3,249,979

Noncontrolling interest



52,036



50,250

          Total equity



3,444,155



3,300,229










$

8,431,385


$

8,311,723








 

 

Universal Health Services, Inc.

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)


Three months


ended March 31,


2014


2013





Cash Flows from Operating Activities:




  Net income

$151,852


$129,935

  Adjustments to reconcile net income to net 




cash provided by operating activities:




Depreciation & amortization

93,359


79,923

Gains on sales of assets and businesses, net of losses

(10,134)


(2,092)

Stock-based compensation expense

7,152


7,111

  Changes in assets & liabilities, net of effects from




acquisitions and dispositions:




   Accounts receivable

(95,633)


(81,859)

   Accrued interest

11,063


11,497

   Accrued and deferred income taxes 

65,321


59,624

   Other working capital accounts 

(34,999)


(39,785)

   Other assets and deferred charges

9,982


6,662

   Other 

(3,833)


1,604

   Accrued insurance expense, net of commercial premiums paid

21,302


22,962

   Payments made in settlement of self-insurance claims

(20,793)


(17,085)

          Net cash provided by operating activities

194,639


178,497





Cash Flows from Investing Activities:




   Property and equipment additions, net of disposals

(92,387)


(95,919)

   Proceeds received from sale of assets and businesses

11,450


6,657

   Acquisition of property and businesses

(3,301)


0

   Costs incurred for purchase and implementation of electronic health records application

(6,504)


(16,412)

          Net cash used in investing activities

(90,742)


(105,674)





Cash Flows from Financing Activities:




   Reduction of long-term debt

(109,054)


(69,926)

   Additional borrowings

11,900


9,500

   Repurchase of common shares

(13,993)


(14,027)

   Dividends paid

(4,933)


(4,870)

   Issuance of common stock

1,445


1,232

   Excess income tax benefits related to stock-based compensation

11,750


9,266

   Profit distributions to noncontrolling interests

(1,989)


(10,074)

          Net cash used in financing activities

(104,874)


(78,899)





Decrease in cash and cash equivalents

(977)


(6,076)

Cash and cash equivalents, beginning of period

17,238


23,471

Cash and cash equivalents, end of period

$16,261


$17,395





Supplemental Disclosures of Cash Flow Information:




  Interest paid

$18,893


$22,982





  Income taxes paid, net of refunds

$6,764


$4,908





 

 

Universal Health Services, Inc.

Supplemental Statistical Information

(unaudited)


















 % Change 






Quarter Ended

Same Facility:





3/31/2014







Acute Care 






Revenues





5.8%

Adjusted Admissions





-0.5%

Adjusted Patient Days





4.6%

Revenue Per Adjusted Admission





6.3%

Revenue Per Adjusted Patient Day





1.1%













Behavioral Health 












Revenues





3.7%

Adjusted Admissions





2.3%

Adjusted Patient Days





0.1%

Revenue Per Adjusted Admission





-0.1%

Revenue Per Adjusted Patient Day





2.1%

























UHS Consolidated



First Quarter Ended




3/31/2014


3/31/2013







Revenues



$1,920,166


$1,831,632

EBITDA   (1)



$350,561


$313,583

EBITDA Margin (1)



18.3%


17.1%







Cash Flow From Operations



$194,639


$178,497

Days Sales Outstanding



57


56

Capital Expenditures



$92,387


$95,919







Debt 



3,212,799


3,670,474

Shareholders Equity



3,392,119


2,834,907

Debt / Total Capitalization



48.6%


56.4%

Debt / EBITDA (2)



2.39


3.02

Debt / Cash From Operations (2)



3.57


4.24













Acute Care EBITDAR Margin (3)



19.8%


16.0%

Behavioral Health EBITDAR Margin(3)



27.9%


28.5%













(1)  Net of Minority Interest






(2)  Latest 4 quarters






(3)  Same facility basis before Corporate overhead allocation and minority interest. 







 

 

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE THREE MONTHS ENDED

MARCH 31, 2014 AND 2013



















AS REPORTED:




















Acute 



Behavioral Health




03/31/14

03/31/13

%


03/31/14

03/31/13

%










Hospitals owned and leased


24

23

4.3%


181

184

-1.6%

Average licensed beds


5,757

5,617

2.5%


19,761

20,024

-1.3%

Patient days


299,874

290,700

3.2%


1,334,777

1,355,054

-1.5%

Average daily census


3,331.9

3,230.0

3.2%


14,830.9

15,056.2

-1.5%

Occupancy-licensed beds


57.9%

57.5%

0.6%


75.1%

75.2%

-0.2%

Admissions


62,700

63,739

-1.6%


103,895

101,396

2.5%

Length of stay


4.8

4.6

4.9%


12.8

13.4

-3.9%










Inpatient revenue


$3,876,364

$3,507,040

10.5%


$1,608,899

$1,576,148

2.1%

Outpatient revenue


1,957,491

1,651,575

18.5%


184,115

185,802

-0.9%

Total patient revenue


5,833,855

5,158,615

13.1%


1,793,014

1,761,950

1.8%

Other revenue


34,549

31,125

11.0%


43,622

31,100

40.3%

Gross hospital revenue


5,868,404

5,189,740

13.1%


1,836,636

1,793,050

2.4%










Total deductions


4,714,663

4,062,963

16.0%


865,314

854,899

1.2%










Net hospital revenue before









provision for doubtful accounts


$1,153,741

$1,126,777

2.4%


$971,322

$938,151

3.5%










Provision for doubtful accounts


$182,350

$218,043

-16.4%


25,865

28,607

-9.6%










Net hospital revenue 


$971,391

$908,734

6.9%


$945,457

$909,544

3.9%



















SAME FACILITY:











Acute  (1)



Behavioral Health (2)




03/31/14

03/31/13

%


03/31/14

03/31/13

%










Hospitals owned and leased


23

23

0.0%


178

178

0.0%

Average licensed beds


5,617

5,617

0.0%


19,472

19,339

0.7%

Patient days


297,486

290,700

2.3%


1,320,210

1,314,603

0.4%

Average daily census


3,305.4

3,230.0

2.3%


14,669.0

14,606.7

0.4%

Occupancy-licensed beds


58.8%

57.5%

2.3%


75.3%

75.5%

-0.3%

Admissions


62,014

63,739

-2.7%


103,300

100,663

2.6%

Length of stay


4.8

4.6

5.2%


12.8

13.1

-2.1%




























(1) Temecula is excluded in both current and prior years











(2) Austin Oaks, Bristol Youth Academy, Community BH, Gulph Coast Treatment Center, John Costigan Ctr, Okaloosa Youth Academy, Palo Verde and The Peaks are excluded in both current and prior years. Garfield Park is excluded in both current and prior years in January only.













 

SOURCE Universal Health Services, Inc.

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WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
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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 ...
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, 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.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...