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

News Feed Item

Allegion Reports Second Quarter 2014 Financial Results; Updates Full-Year 2014 EPS Outlook

Allegion plc (NYSE: ALLE), a leading global provider of security products and solutions, today reported second quarter 2014 net revenues of $531.5 million, up 0.5 percent compared to the prior year, and net earnings of $51.6 million, or $0.53 per share from continuing operations. This compares with net earnings of $61.1 million, or $0.64 per share from continuing operations for the 2013 second quarter.

Second quarter net revenues increased 4.0 percent on an adjusted basis (up 2.9 percent on an organic basis). The increase in revenues is due to strong residential volume and modest commercial volume growth compensating for unfavorable timing of Asia Pacific system integration projects. Adjusted net earnings were $59.8 million, or $0.61 per share from continuing operations, down $0.03 from the prior year. Included in these results, the Asia Pacific region reflected a $2.5 million bad debt adjustment in the quarter, or unfavorable $0.02 per share. Removing this adjustment, operational improvements and a lower tax rate mostly offset higher interest expense and incremental investment.

Second quarter operating margin was 16.9 percent (19.1 percent on an adjusted basis). Operating margin in the second quarter of 2013 was 18.9 percent (19.6 percent on an adjusted basis). Adjusted operating margin was down year-over-year as increased investments, inflation and the one-time bad debt adjustment in Asia Pacific were partially offset by favorable price, currency exchange, and productivity.

“While our second quarter margins were down year-over-year, I am pleased with the results given modest commercial growth,” said David D. Petratis, chairman, president and chief executive officer. “Residential volumes and the impact of our EMEIA recovery efforts are compensating for continued softness in non-residential institutional markets. We are now forecasting slower than expected recovery of the institutional markets in 2014.”

The Company also reported negative $8.1 million or negative $0.08 per share in the second quarter from discontinued operations. This compares with 2013 discontinued operations of negative $0.8 million, or negative $0.01 per share. The discontinued operations are inclusive of a $6.6 million impairment charge related to the announced divestiture of the United Kingdom (UK) Door businesses.

“This transaction enables us to simplify our offering and focus upon strategic products that can be leveraged across the EMEIA region,” said Petratis. “This is an important piece of our ongoing transformation of the portfolio to improve profitability and return on invested capital.”

*Adjustments to GAAP revenue, operating income, operating margin, EBITDA, EBITDA margin, earnings from continuing operations and diluted earnings per share (EPS) from continuing operations consist of items such as the impact of change in order flow through the Company's consolidated joint venture in Asia, restructuring charges, and one-time separation costs related to the spin-off from Ingersoll Rand to better illustrate year over year performance. Please see the disclosure below and the supplemental schedules attached to this earnings release for additional information regarding these adjustments.

Additional Items

Interest expense for the second quarter of 2014 was $12.0 million higher than the prior period due to the additional indebtedness incurred as a result of the spin-off from Ingersoll Rand. The Company's effective tax rate for the second quarter of 2014 was 29.5 percent. The comparable effective tax rate for the second quarter of 2013 was 36.9 percent.

EMEIA Restructuring

In the second quarter of 2014, management committed to a plan to restructure the EMEIA segment to improve efficiencies and regional cost structure. In conjunction with this plan, the Company incurred severance and other restructuring charges of $4.4 million for the three and six months ended June 30, 2014 of which $1.0 million is recorded in Cost of goods sold and $3.4 million is recorded in Selling and administrative expenses.

Cash Flow and Liquidity

Year-to-date 2014 available cash flow was $39.4 million, down $12.9 million versus prior year. The year-over-year decrease in available cash flow reflects increased investment in capital projects. The Company ended second quarter 2014 with cash of $193.2 million and total debt of $1,287.6 million. The Company did not have any borrowings outstanding under its $500 million revolving credit facility at June 30, 2014.

Share Repurchase

During the second quarter of 2014, the Company repurchased approximately 0.6 million shares with an average price paid per share of $50.14 for approximately $30.3 million related to the $200 million share repurchase program approved by the Company's board of directors in February, 2014.

Outlook

Allegion continues to forecast full-year revenues to increase 3.5 to 4.5 percent versus prior year on an adjusted basis. The Company is raising the lower end of adjusted EPS guidance, and holding the high-end with an updated range of $2.30 to $2.40. Restructuring and spin costs are expected to be in the range of $0.25 to $0.30 per share. Including these costs, EPS for 2014 continuing operations are expected to be in the range of $2.00 to $2.15. The forecast includes a full year tax assumption of approximately 30 percent for continuing operations. The updated forecast assumes the official exchange rate for the Venezuelan bolivar and does not take into consideration the impact of a potential currency devaluation in Venezuela. The Company continues to target available cash flow that approximates net earnings from continuing operations.

Conference Call Information

On Thursday, July 31, David D. Petratis, chairman, president and chief executive officer, and Patrick Shannon, senior vice president and chief financial officer, will conduct a conference call for analysts and investors, beginning at 8:00 a.m. E.T., to review the Company's results.

A real-time, listen-only webcast of the conference call will be broadcast live over the Internet. Individuals wishing to listen can access the call through the Company's website at http://investor.allegion.com.

About Allegion

Allegion (NYSE: ALLE) creates peace of mind by pioneering safety and security. As a $2 billion provider of security solutions for homes and businesses, Allegion employs more than 8,000 people and sells products in more than 120 countries across the world. Allegion comprises 27 global brands, including strategic brands CISA®, Interflex®, LCN®, Schlage® and Von Duprin®.

For more, visit http://www.allegion.com.

Non-GAAP Measures

The Company has presented revenue, operating income, operating margin, EBITDA, EBITDA margin, earnings from continuing operations, and diluted earnings per share (EPS) from continuing operations on both a U.S. GAAP basis and on an adjusted basis because the Company's management believes it may assist investors in evaluating the Company's on-going operations as a standalone company. The Company believes these non-GAAP disclosures provide important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. A reconciliation of the non-GAAP measures used to their most directly comparable GAAP measure is presented as a supplemental schedule to this earnings release.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's 2014 financial performance, the Company's growth strategy, the Company's capital allocation strategy, the Company's Europe, Middle East, India and Africa (EMEIA) strategy and the performance of the markets in which the Company operates. These forward-looking statements are based on the Company's current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Further information on these factors and other risks that may affect the Company's business is included in filings it makes with the Securities and Exchange Commission from time to time, including its Form 10-K for the year ended December 31, 2013, Form 10-Q for the quarter ended March 31, 2014 and Form 10-Q for the quarter ended June 30, 2014. The Company assumes no obligations to update these forward looking statements.

   
ALLEGION PLC
Condensed and Consolidated Income Statements
(in millions, except per share data)
 

UNAUDITED

 
Three Months Ended June 30, Six Months Ended June 30,
2014     2013   2014     2013  
Net revenues $ 531.5 $ 528.7 $ 998.1 $ 996.9
Cost of goods sold 305.2   310.2   580.0   592.4  
Gross profit 226.3 218.5 418.1 404.5
 
Selling and administrative expenses 136.6   118.5   261.0   235.0  
Operating income 89.7 100.0 157.1 169.5
 
Interest expense 12.5 0.5 25.6 0.9
Other, net (1.0 ) (0.8 ) (1.1 ) 6.7  
Earnings before income taxes 78.2 100.3 132.6 161.9
 
Provision for income taxes 23.1   37.0   39.4   56.9  
Earnings from continuing operations 55.1 63.3 93.2 105.0
 
Discontinued operations, net of tax (8.1 ) (0.8 ) (8.8 ) (1.5 )
 
Net earnings 47.0 62.5 84.4 103.5
 

Less: Net earnings (loss) attributable to noncontrolling interests

3.5   2.2   5.3   3.8  
 
Net earnings attributable to Allegion plc $ 43.5   $ 60.3   $ 79.1   $ 99.7  
 
Amounts attributable to Allegion plc shareholders:
Continuing operations $ 51.6 $ 61.1 $ 87.9 $ 101.2
Discontinued operations (8.1 ) (0.8 ) (8.8 ) (1.5 )
Net earnings $ 43.5   $ 60.3   $ 79.1   $ 99.7  
 

Basic earnings (loss) per ordinary share attributable to Allegion plc shareholders:

Continuing operations $ 0.54 $ 0.64 $ 0.91 $ 1.05
Discontinued operations (0.09 ) (0.01 ) (0.09 ) (0.01 )
Net earnings $ 0.45   $ 0.63   $ 0.82   $ 1.04  
 

Diluted earnings (loss) per ordinary share attributable to Allegion plc shareholders:

Continuing operations $ 0.53 $ 0.64 $ 0.90 $ 1.05
Discontinued operations (0.08 ) (0.01 ) (0.09 ) (0.01 )
Net earnings $ 0.45   $ 0.63   $ 0.81   $ 1.04  
 
Shares outstanding - basic 96.3 96.0 96.3 96.0
Shares outstanding - diluted 97.3 96.0 97.4 96.0
 
   
ALLEGION PLC
Condensed and Consolidated Balance Sheets
(in millions)
 

UNAUDITED

 

June 30, 2014 December 31, 2013
ASSETS
Cash and cash equivalents $ 193.2 $ 227.4
Restricted cash 40.2
Accounts and notes receivables, net 295.6 260.0

Costs in excess of billings on uncompleted contracts

148.2 158.8
Inventory 174.1 153.6
Other current assets 76.5   86.0  
Total current assets 887.6 926.0
Property, plant and equipment, net 210.3 200.2
Goodwill 517.8 504.9
Intangible assets, net 144.9 146.1
Other noncurrent assets 207.5   202.7  
Total assets $ 1,968.1   $ 1,979.9  
 
LIABILITIES AND EQUITY
Accounts payable $ 219.8 $ 211.3
Accrued expenses and other current liabilities 186.9 207.3

Short-term borrowings and current maturities of long-term debt

30.7   71.9  
Total current liabilities 437.4 490.5
Long-term debt 1,256.9 1,272.0
Other noncurrent liabilities 285.0   273.1  
Equity (11.2 ) (55.7 )
Total liabilities and equity $ 1,968.1   $ 1,979.9  
 
 
ALLEGION PLC
Condensed and Consolidated Cash Flows
(in millions)
 

UNAUDITED

 
Six Months Ended June 30,
2014   2013
Operating Activities        
Earnings from continuing operations $ 93.2 $ 105.0
Depreciation and amortization 24.4 22.9
Changes in assets and liabilities and other non-cash items (52.2 ) (66.9 )
Net cash from (used in) operating activities of continuing operations 65.4 61.0
Net cash used in operating activities of discontinued operations (1.6 ) (1.8 )
Net cash from (used in) operating activities 63.8 59.2
 
Investing Activities
Capital expenditures (26.0 ) (8.7 )
Acquisitions of businesses, net of cash acquired (23.0 )
Other investing activities, net 40.8   1.8  
Net cash used in investing activities (8.2 ) (6.9 )
 
Financing Activities
Net debt proceeds (repayments) (55.2 ) 0.4
Dividends paid to ordinary shareholders (14.9 )
Net transfers to Ingersoll-Rand (33.5 )
Repurchase of ordinary shares (30.3 )
Other financing activities, net 14.6   (2.8 )
Net cash from (used in) financing activities (85.8 ) (35.9 )
 
Effect of exchange rate changes on cash and cash equivalents (4.0 ) (11.7 )
Net increase (decrease) in cash and cash equivalents (34.2 ) 4.7
Cash and cash equivalents - beginning of period 227.4   317.5  
Cash and cash equivalents - end of period $ 193.2   $ 322.2  
 
   

SUPPLEMENTAL SCHEDULES

 

ALLEGION PLC

SCHEDULE 1

 

SELECTED OPERATING SEGMENT INFORMATION

(in millions)

 
Three Months Ended June 30, Six Months Ended June 30,
2014   2013 2014   2013
Net revenues
Americas $ 400.7 $ 397.8 $ 746.1 $ 749.1
EMEIA 101.2 98.3 200.4 193.9
Asia Pacific 29.6   32.6   51.6   53.9  
Total net revenues $ 531.5   $ 528.7   $ 998.1   $ 996.9  
 
Operating income (loss)
Americas $ 111.3 $ 110.9 $ 197.3 $ 193.3
EMEIA (4.1 ) (1.3 ) (4.7 ) (6.0 )
Asia Pacific (3.5 ) (0.8 ) (6.5 ) (1.9 )
Corporate unallocated (14.0 ) (8.8 ) (29.0 ) (15.9 )
Total operating income $ 89.7   $ 100.0   $ 157.1   $ 169.5  
 

ALLEGION PLC

SCHEDULE 2

 

RECONCILIATION OF GAAP TO NON-GAAP EARNINGS FROM CONTINUING OPERATIONS

(in millions, except per share data)

 

The Company has presented revenue, operating income, operating margin, earnings from continuing operations, diluted earnings per share (EPS) from continuing operations, on both a U.S. GAAP basis and on an adjusted basis and presented adjusted EBITDA and adjusted EBITDA margin because the Company's management believes it may assist investors in evaluating the Company's on-going operations as a standalone public company. Adjustments to revenue, operating income, operating margin, earnings and diluted EPS from continuing operations and EBITDA include items that are considered to be unusual or infrequent in nature such as restructuring charges and one-time separation costs related to the spin-off from Ingersoll Rand.

 

The Company considers these items unrelated to its core, on-going operating performance, and believes the use of these non-GAAP measures allows comparison of operating results that are consistent over time. The Company believes these non-GAAP disclosures provide important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations. Management uses these non-GAAP measures internally to evaluate the performance of the business. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures.

   
Three Months Ended June 30, 2014 Three Months Ended June 30, 2013
Reported  

Spin-off
related and
other
charges

 

Adjusted
(non-GAAP)

Reported  

Spin-off
related and
other
charges

 

Adjusted
(non-GAAP)

Net revenues $ 531.5   $ $ 531.5 $ 528.7   $ (17.4 )

(1)

$

511.3
 
Operating income 89.7 12.0 (2) 101.7 100.0 0.1 (2) 100.1
Operating margin 16.9 % 19.1 % 18.9 % 19.6 %
 
Earnings before income taxes 78.2 12.0 90.2 100.3 0.1 100.4
Provision for income taxes 23.1   3.8   (3) 26.9   37.0     37.0  
Earnings from continuing operations 55.1 8.2 63.3 63.3 0.1 63.4
 
Non-controlling interest 3.5     3.5   2.2     2.2  
 

Net earnings from continuing operations attributable to Allegion plc

$ 51.6   $ 8.2   $ 59.8   $ 61.1   $ 0.1   $ 61.2  

 

                       

Diluted earnings per ordinary share attributable to Allegion plc shareholders:

$ 0.53   $ 0.08   $ 0.61   $ 0.64   $   $ 0.64  
 
  (1)   Adjustment to net revenue for the three months ended June 30, 2013 reflects the impact of a change in order flow through the Company's consolidated joint venture in Asia resulting from a revised joint venture operating agreement signed in late 2013. Previously, the joint venture acted as a pass-through to the end customer. Products are now shipped direct to the end customer with the joint venture receiving a royalty in an amount that approximates the lost margin. The consolidated joint venture no longer recognizes the revenue and cost of goods sold on these products. The change did not have a material impact on operating income or on cash flows for the three months ended June 30, 2014.
(2) Adjustments to operating income for the three months ended June 30, 2014 and 2013 consist of $12.0 million of costs incurred as part of the spin-off from Ingersoll Rand and restructuring charges in 2014 and $0.1 million of restructuring charges in 2013.
(3) Adjustments to the provision for income taxes for the three months ended June 30, 2014 consist of $3.8 million of tax expense related to the items excluded from operating income discussed above.
   
Six months ended June 30, 2014 Six months ended June 30, 2013
Reported  

Spin-off
related and
other
charges

 

Adjusted
(non-GAAP)

Reported  

Spin-off
related and
other
charges

 

Adjusted
(non-GAAP)

Net revenues $ 998.1   $ $ 998.1 $ 996.9   $ (35.1 ) (1) $ 961.8
 
Operating income 157.1 21.3 (2) 178.4 169.5 4.6 (2) 174.1
Operating margin 15.7 % 17.9 % 17.0 % 18.1 %
 
Earnings before income taxes 132.6 21.3 153.9 161.9 4.6 166.5
Provision for income taxes 39.4   6.5   (3) 45.9   56.9   1.3   (3) 58.2  
Earnings from continuing operations 93.2 14.8 108.0 105.0 3.3 108.3
 
Non-controlling interest 5.3     5.3   3.8     3.8  
 

Net earnings from continuing operations attributable to Allegion plc

$ 87.9   $ 14.8   $ 102.7   $ 101.2   $ 3.3   $ 104.5  

 

                       

Diluted earnings per ordinary share attributable to Allegion plc shareholders:

$ 0.90   $ 0.15   $ 1.05   $ 1.05   $ 0.03   $ 1.09  
 
  (1)   Adjustment to net revenue for the six months ended June 30, 2013 reflects the impact of a change in order flow through the Company's consolidated joint venture in Asia resulting from a revised joint venture operating agreement signed in late 2013. Previously, the joint venture acted as a pass-through to the end customer. Products are now shipped direct to the end customer with the joint venture receiving a royalty in an amount that approximates the lost margin. The consolidated joint venture no longer recognizes the revenue and cost of goods sold on these products. The change did not have a material impact on operating income or on cash flows for the six months ended June 30, 2014.
(2) Adjustments to operating income for the six months ended June 30, 2014 and 2013 consist of $21.3 million of costs incurred as part of the spin-off from Ingersoll Rand and restructuring charges in 2014 and $4.6 million of restructuring charges in 2013.
(3) Adjustments to the provision for income taxes for the six months ended June 30, 2014 and 2013 consist of $6.5 million and $1.3 million, respectively, of tax expense related to the items excluded from operating income discussed above.
 
   

ALLEGION PLC

SCHEDULE 3

 

RECONCILIATION OF GAAP TO NON-GAAP REVENUE AND OPERATING INCOME BY REGION

 
(in millions)

Three Months Ended
June 30, 2014

Three Months Ended
June 30, 2013
As Reported   Margin As Reported   Margin
Americas
Net revenues (GAAP) $ 400.7 $ 397.8
Impact of Asia JV order flow change   (17.4 )
Adjusted net revenues 400.7 380.4
 
Operating income (GAAP) 111.3 27.8 % 110.9 29.2 %
Restructuring charges % %
Spin-off related charges   %   %
Adjusted operating income 111.3 27.8 % 110.9 29.2 %
Depreciation and amortization 6.2   1.5 % 5.6   1.5 %
Adjusted EBITDA $ 117.5   29.3 % $ 116.5   30.7 %
 
EMEIA
Net revenues (GAAP) $ 101.2 $ 98.3
 
Operating income (GAAP) (4.1 ) (4.1 )% (1.3 ) (1.3 )%
Restructuring charges 4.7 4.6 % 0.1 0.1 %
Spin-off related and other charges 1.5   1.5 %   %
Adjusted operating income 2.1 2.0 % (1.2 ) (1.2 )%
Depreciation and amortization 4.4   4.2 % 4.7   4.8 %
Adjusted EBITDA $ 6.5   6.2 % $ 3.5   3.6 %
 
Asia Pacific
Net revenues (GAAP) $ 29.6 $ 32.6
 
Operating income (GAAP) (3.5 ) (11.8 )% (0.8 ) (2.5 )%
Spin-off related charges 0.2   0.7 %    
Adjusted operating income (3.3 ) (11.1 )% (0.8 ) (2.5 )%
Depreciation and amortization 0.2   0.7 % 0.2   0.6 %
Adjusted EBITDA $ (3.1 ) (10.4 )% $ (0.6 ) (1.9 )%
 
Corporate
Operating income (GAAP) (14.0 ) (8.8 )
Spin-off related charges 5.6    
Adjusted operating income (8.4 ) (8.8 )
Depreciation and amortization 1.4   0.7  
Adjusted EBITDA $ (7.0 ) $ (8.1 )
 
Total
Adjusted net revenues $ 531.5 $ 511.3
 
Adjusted operating income 101.7 19.1 % 100.1 19.6 %
Depreciation and amortization 12.2   2.3 % 11.2     2.2 %
Adjusted EBITDA $ 113.9   21.4 % $ 111.3     21.8 %
 

Six Months Ended
June 30, 2014

Six Months Ended
June 30, 2013

As Reported Margin As Reported Margin
Americas
Net revenues $ 746.1 $ 749.1
Impact of Asia JV order
flow change   (35.1 )
Adjusted net revenues 746.1 714.0
 
Operating income (GAAP) 197.3 26.4 % 193.3 27.1 %
Restructuring charges % 0.1 %
Spin-off related charges 0.3   %   %
Adjusted operating income 197.6 26.4 % 193.4 27.1 %
Depreciation and amortization 12.4   1.7 % 13.0   1.8 %
Adjusted EBITDA $ 210.0   28.1 % $ 206.4   28.9 %
 
EMEIA
Net revenues $ 200.4 $ 193.9
 
Operating income (GAAP) (4.7 ) (2.3 )% (6.0 ) (3.1 )%
Restructuring charges 5.2 2.6 % 4.5 2.3 %
Spin-off related and other
charges 2.8   1.4 %   %
Adjusted operating income 3.3 1.7 % (1.5 ) (0.8 )%
Depreciation and amortization 8.8   4.4 % 9.4   4.8 %
Adjusted EBITDA $ 12.1   6.1 % $ 7.9   4.0 %
 
Asia Pacific
Net revenues $ 51.6 $ 53.9
 
Operating income (GAAP) (6.5 ) (12.6 )% (1.9 ) (3.5 )%
Spin-off related charges 0.3   0.6 %    
Adjusted operating income (6.2 ) (12.0 )% (1.9 ) (3.5 )%
Depreciation and amortization 0.4   0.8 % 0.5   0.9 %
Adjusted EBITDA $ (5.8 ) (11.2 )% $ (1.4 ) (2.6 )%
 
Corporate
Operating income (GAAP) $ (29.0 ) $ (15.9 )
Spin-off related charges 12.7    
Adjusted operating income (16.3 ) (15.9 )
Depreciation and amortization 2.8    
Adjusted EBITDA $ (13.5 ) $ (15.9 )
 
Total
Adjusted net revenues $ 998.1 $ 961.8
 
Adjusted operating income 178.4 17.9 % 174.1 18.1 %
Depreciation and amortization 24.4   2.4 % 22.9   2.3 %
Adjusted EBITDA $ 202.8   20.3 % $ 197.0   20.4 %
 

ALLEGION PLC

 

SCHEDULE 4

 

RECONCILIATION OF CASH PROVIDED BY OPERATING ACTIVITIES TO AVAILABLE CASH FLOW AND NET INCOME TO ADJUSTED EBITDA

(in millions)

 
Six Months Ended June 30,
2014   2013

 

       

Net cash provided by (used in) operating activities from continuing operations

$ 65.4 $ 61.0
Capital expenditures (26.0 ) (8.7 )
Available cash flow $ 39.4   $ 52.3  
 
Six Months Ended June 30,
2014 2013
Net earnings (GAAP) $ 84.4 $ 103.5
Provision for income taxes 39.4 56.9
Interest expense 25.6 0.9
Depreciation and amortization 24.4   22.9  
EBITDA 173.8 184.2
 
Discontinued operations 8.8 1.5
Other, net (1.1 ) 6.7

Restructuring charges, spin-off related costs and other expenses

21.3   4.6  
Adjusted EBITDA $ 202.8   $ 197.0  
 
Three Months Ended June 30,
2014 2013
Net earnings $ 47.0 $ 62.5
Provision for income taxes 23.1 37.0
Interest expense 12.5 0.5
Depreciation and amortization 12.2   11.2  
EBITDA 94.8 111.2
 
Discontinued operations 8.1 0.8
Other, net (1.0 ) (0.8 )

Restructuring charges, spin-off related costs and other expenses

12.0   0.1  
Adjusted EBITDA $ 113.9   $ 111.3  

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
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...
DevOps Summit 2015 New York, 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 it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
“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.
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
“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 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...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
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...
"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.
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...