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Elbit Systems Reports Second Quarter Of 2014 Results

Backlog of orders at $6.2 billion; Revenues at $703 million; Net income of $44 million; EPS of $1.03

HAIFA, Israel, Aug. 6, 2014 /PRNewswire/ -- Elbit Systems Ltd. (the "Company") (NASDAQ and TASE: ESLT), the international defense electronics company, reported today its consolidated results for the quarter ended June 30, 2014.

In this release, the Company is providing US-GAAP results as well as additional non-GAAP financial data, which are intended to provide investors a more comprehensive understanding of the Company's business results and trends. Unless otherwise stated, all financial data presented is GAAP financial data.

Management Comment:

Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, commented: "Our second quarter results demonstrate continued solid performance. These achievements are a result of our ongoing efforts to focus on efficiently managing our operations while increasingly leveraging our global inter company resources and synergies. We are pleased with the continued growth in our backlog, which is a good indicator of potential revenue growth in the future. We remain committed to maintaining our electronic defense leadership, by investing in the development of new technologies and markets with the aim of ensuring continued stability and long-term growth."

Second quarter 2014 results:

Revenues in the second quarter of 2014 were $702.6 million, as compared to $702.9 million in the second quarter of 2013.

Gross profit amounted to $199.4 million (28.4% of revenues) in the second quarter of 2014, as compared to $203.1 million (28.9% of revenues) in the second quarter of 2013. The non-GAAP gross profit in the second quarter of 2014 was $204.8 million (29.1% of revenues), as compared to $208.5 million (29.7% of revenues) in the second quarter of 2013. The decrease in the gross profit rate was mainly due to the mix of programs sold in the quarter and the stronger Israeli shekel versus the US dollar in the second quarter of 2014 compared to last year.

Research and development expenses, net, were $52.2 million (7.4% of revenues) in the second quarter of 2014, as compared to $51.5 million (7.3% of revenues) in the second quarter of 2013.

Marketing and selling expenses were $50.3 million (7.2% of revenues) in the second quarter of  2014, as compared to $57.1 million (8.1% of revenues) in the second quarter of 2013. The decrease in the quarter was mainly a result of lower selling expenses related to the mix of marketing efforts in the quarter.

General and administrative expenses were $34.3 million (4.9% of revenues) in the second quarter of 2014, as compared to $27.8 million (4.0% of revenues) in the second quarter of 2013. General and administrative expenses in the second quarter of 2013 benefited from income related to a legal settlement, net of expenses, of $7.6 million.

Operating income was $62.6 million (8.9% of revenues) in the second quarter of 2014, as compared to operating income of $66.7 million (9.5% of revenues) in the second quarter of 2013.  The non-GAAP operating income in the second quarter of  2014 was $73.1 million (10.4% of revenues), as compared to $70.5 million (10.0% of revenues) in the second quarter of 2013.

Financial expenses, net, were $8.3 million in the second quarter of 2014, as compared to $12.7 million in the second quarter of 2013. Financial expenses, net, in the second quarter of 2013 were comparatively high due to fluctuations in foreign currencies.

Taxes on income were $9.9 million (effective tax rate of 18.1%) in the second quarter of 2014, as compared to $5.1 million (effective tax rate of 9.4%) in the second quarter of 2013. The effective tax rate was affected by the mix of the tax rates in the various jurisdictions in which the Company's entities generate taxable income.

Equity in net earnings of affiliated companies and partnerships was $1.7 million (0.2% of revenues) in the second quarter of 2014, as compared to $2.5 million (0.4% of revenues) in the second quarter of 2013.

Net income attributable to non-controlling interests was $2.3 million in the second quarter of 2014, as compared to $3.0 million in the second quarter of 2013.

Net income attributable to the Company's shareholders in the second quarter of 2014 was $43.9 million (6.2% of revenues), as compared to $49.6 million (7.1% of revenues) in the second quarter of 2013. Net income in the second quarter of 2013 benefited from income related to a legal settlement, net of expenses, of $7.6 million. The non-GAAP net income in the second quarter of 2014 was $52.6 million (7.5% of revenues), as compared to $50.4 million (7.2% of revenues) in the second quarter of 2013.

Diluted net earnings per share attributable to the Company's shareholders were $1.03 for the second quarter of 2014, as compared with diluted net earnings per share of $1.17 for the second quarter of 2013. The non-GAAP diluted earnings per share in the second quarter of 2014 were $1.23, as compared with diluted net earnings per share of $1.19 for the second quarter of 2013.

The Company's backlog of orders as of June 30, 2014 totaled $6,174 million, as compared to $5,804 million as of June 30, 2013. Approximately 72% of the current backlog is attributable to orders from outside Israel. Approximately 59% of the current backlog is scheduled to be performed during the second half of 2014 and 2015.

Operating cash flow was $15.8 million for the first half of 2014, as compared to $60.9 million in the first half of 2013. The Company's cash flow was negatively affected mainly by the delay in payments from the Israeli Ministry of Defense. The Company does not foresee a risk in the collection of these payments.

Non-GAAP financial data:

The following non-GAAP financial data is presented to enable investors to have additional information on the Company's business performance as well as a further basis for periodical comparisons and trends relating to the Company's financial results. The Company believes such data provides useful information to investors by facilitating more meaningful comparisons of the Company's financial results over time. Such non-GAAP information is used by the Company's management to make strategic decisions, forecast future results and evaluate the Company's current performance. However, investors are cautioned that, unlike financial measures prepared in accordance with GAAP, non-GAAP measures may not be comparable with the calculation of similar measures for other companies.

The non-GAAP financial data includes reconciliation adjustments regarding non-GAAP gross profit, operating income, net income and diluted EPS. In arriving at non-GAAP presentations, companies generally factor out items such as those that have a non-recurring impact on the income statements, various non-cash items, significant effects of retroactive tax legislation and changes in accounting guidance and other items which, in management's judgment, are items that are considered to be outside of the review of core operating results.

In the Company's non-GAAP presentation, the Company made certain adjustments, as indicated in the table below.

These non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company's results of operations, as determined in accordance with GAAP, and that these measures should only be used to evaluate the Company's results of operations in conjunction with the corresponding GAAP measures. Investors should consider non-GAAP financial measures in addition to, and not as replacements for or superior to, measures of financial performance prepared in accordance with GAAP.


Reconciliation of GAAP to Non-GAAP (Unaudited) Supplemental Financial Data

(US Dollars in millions)



Six Months Ended
June 30,


Three Months Ended
 June 30,


Year Ended
December 31,


2014



2013



2014



2013



2013

















GAAP gross profit

392.6



395.9



199.4



203.1



824.8


Adjustments:















Amortization of intangible assets

10.8



11.0



5.4



5.4



22.2


Impairment of long-lived assets









0.9


Non-GAAP  gross profit

403.4



406.9



204.8



208.5



847.9


Percent of revenues

29.1

%


29.4

%


29.1

%


29.7

%


29.0

%































GAAP operating income

122.5



120.5



62.6



66.7



239.4


Adjustments:















Amortization of intangible assets

21.6



23.0



10.5



11.4



45.9


Impairment of long-lived assets









0.9


Legal settlement, net



(7.6)





(7.6)



(7.6)


Gain from changes in holdings

(6.0)










Non-GAAP operating income

138.1



135.9



73.1



70.5



278.6


Percent of revenues

10.0

%


9.8

%


10.4

%


10.0

%


9.5

%































GAAP net income attributable to Elbit
Systems' shareholders

92.0



91.0



43.9



49.6



183.4


Adjustments:















Amortization of intangible assets

21.6



23.0



10.5



11.4



45.9


Impairment of long-lived assets









0.9


Legal settlement, net



(7.6)





(7.6)



(7.6)


Gain from changes in holdings

(6.0)









(0.9)


Adjustment of gain from discontinued operations, net



(0.8)





(1.0)



(0.8)


Related tax benefits

(3.2)



(4.0)



(1.8)



(2.0)



(10.1)


Non-GAAP  net income attributable to
Elbit Systems' shareholders

104.4



101.6



52.6



50.4



210.8


Percent of revenues

7.5

%


7.3

%


7.5

%


7.2

%


7.2

%
















Non-GAAP diluted net EPS

2.45



2.41



1.23



1.19



4.99


 

Recent Events:

On May 18, 2014 the Company announced that its wholly-owned U.S. subsidiary, Elbit Systems of America, LLC, was awarded two contracts, totaling $14.1 million, to support the upgrade of the U.S. Marine Corps' Bell AH-1W attack helicopter fleet.

On May 28, 2014 the Company announced that it was awarded a contract to supply systems in an amount of $133 million for homeland security applications to a customer in the Latin American region. The systems are based on highly advanced and unique technologies, including command, control and intelligence capabilities to be operated via dedicated control centers intended to play a major role in fighting crime, preventing violence and improving citizens' safety and security. The contract will be performed over a one-year period.

On June 8, 2014 the Company announced that it was selected by the Swiss Federal Department of Defence, Civil Protection and Sport, as the preferred supplier for the UAS 15 new reconnaissance drone program.

On June 12, 2014 the Company announced that its subsidiary, Elbit Systems Electro-Optics-Elop Ltd., decided to withdraw its lawsuit filed against the Government of Israel in November 2012 for damages and expenses caused in connection with the cancellation of export licenses for a project of a foreign customer.

On June 22, 2014 the Company announced that it was awarded a contract, valued at approximately $20 million, for the supply of upgraded armored personnel carriers ("APCs") to the Philippines Armed Forces. The upgrade will include 25 mm unmanned turrets, 12.7 mm remote controlled weapon stations and fire control systems for 90 mm turrets. The APCs will be supplied over a one-year period.

Dividend:

The Board of Directors declared a dividend of $0.32 per share for the second quarter of 2014. The dividend's record date is August 19, 2014. The dividend will be paid from income generated as Preferred Income (as defined under Israeli tax laws), on September 1, 2014, net of taxes and levies, at the rate of 20%. 

Conference Call:

The Company will be hosting a conference call today, Wednesday, August 6, 2014 at 9:00 a.m. Eastern Time. On the call, management will review and discuss the results and will be available to answer questions.

To participate, please call one of the teleconferencing numbers that follow. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

US Dial-in Numbers: 1 888 668 9141
UK Dial-in Number: 0 800 917 5108
ISRAEL Dial-in Number: 03 918 0609
INTERNATIONAL Dial-in Number:  +972 3 918 0609

at: 9:00 am Eastern Time; 6:00 am Pacific Time; 2:00 pm UK Time; 4:00 pm Israel Time

This call will also be broadcast live on Elbit Systems' web-site at http://www.elbitsystems.com. An online replay will be available from 24 hours after the call ends.

Alternatively, for two days following the call, investors will be able to dial a replay number to listen to the call. The dial-in numbers are:

1 888 326 9310 (US) or +972 3 925 5901 (Israel and International).

About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems ("UAS"), advanced electro-optics, electro-optic space systems, EW suites, signal intelligence ("SIGINT") systems, data links and communications systems and radios. The Company also focuses on the upgrading of existing military platforms, developing new technologies for defense, homeland security and commercial aviation applications and providing a range of support services, including training and simulation systems.

For additional information, visit: www.elbitsystems.com or follow us on Twitter.

Attachments:
Consolidated balance sheets
Consolidated statements of income
Consolidated statements of cash flow
Consolidated revenue distribution by areas of operation and by geographical regions

Company Contact:

 

Joseph Gaspar, Executive VP & CFO

Tel:  +972-4-8316663

[email protected]

Dalia Rosen, VP, Head of Corporate Communications

Tel: +972-4-8316784

[email protected]

Elbit Systems Ltd.



IR Contact:

 

Ehud Helft

Kenny Green

GK Investor Relations

Tel: 1-646-201-9246

[email protected]

 

This press release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1943, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results, performance and trends may differ materially from these forward-looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppal or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

 


ELBIT SYSTEMS LTD.

CONSOLIDATED BALANCE SHEETS

(In thousands of US Dollars)



June 30,


December 31,


2014


2013


Unaudited


Audited

Assets






Current assets:






Cash and cash equivalents

$

173,842



$

193,737


Short-term bank deposits and marketable securities

102,776



71,625


Trade and unbilled receivables, net

906,640



823,245


Other receivables and prepaid expenses

159,526



151,367


Inventories, net of customers advances

820,992



756,032


Total current assets

2,163,776



1,996,006








Investments in affiliated companies and partnerships

123,914



131,362


Long-term trade and unbilled receivables

235,082



242,576


Long-term bank deposits and other receivables

63,856



52,983


Deferred income taxes, net

40,790



35,695


Severance pay fund

318,057



323,388



781,699



786,004








Property, plant and equipment, net

461,668



481,408


Goodwill and other intangible assets, net

663,461



669,750


Total assets

$

4,070,604



$

3,933,168














Liabilities and Equity






Short-term bank credit and loans

$

398



$


Current maturities of long-term loans and Series A Notes

66,168



63,111


Trade payables

328,565



301,480


Other payables and accrued expenses

689,073



720,544


Customer advances in excess of costs incurred on contracts in progress

396,964



349,998



1,481,168



1,435,133








Long-term loans, net of current maturities

329,363



224,209


Series A Notes, net of current maturities

327,960



377,812


Employee benefit liabilities

400,454



407,855


Deferred income taxes and tax liabilities, net

78,913



73,502


Customer advances in excess of costs incurred on contracts in progress

133,332



164,854


Other long-term liabilities

61,618



55,634



1,331,640



1,303,866








Elbit Systems Ltd.'s equity

1,242,485



1,177,012


Non-controlling interests

15,311



17,157


Total equity

1,257,796



1,194,169


Total liabilities and equity

$

4,070,604



$

3,933,168


 


ELBIT SYSTEMS LTD.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands of US Dollars, except for share and per share amount)



Six Months Ended

June 30,


Three Months Ended
 June 30,


Year Ended
December 31,


2014



2013



2014



2013



2013



Unaudited


Unaudited


Audited

Revenues

$

1,385,260



$

1,383,063



$

702,647



$

702,876



$

2,925,151


Cost of revenues

992,706



987,206



503,291



499,727



2,100,304


Gross profit

392,554



395,857



199,356



203,149



824,847

















Operating expenses:















Research and development, net

101,161



102,543



52,219



51,494



220,482


Marketing and selling

105,261



112,849



50,283



57,095



235,466


General and administrative, net

69,583



59,981



34,269



27,815



129,507


Other income, net

(5,951)











270,054



275,373



136,771



136,404



585,455


Operating income

122,500



120,484



62,585



66,745



239,392

















Financial expenses, net

(12,933)



(20,640)



(8,271)



(12,718)



(37,310)


Other income, net

122



44



88



53



937


Income before income taxes

109,689



99,888



54,402



54,080



203,019


Taxes on income

(16,045)



(9,668)



(9,859)



(5,064)



(25,313)



93,644



90,220



44,543



49,016



177,706


Equity in net earnings of affiliated companies and
partnerships

2,751



4,174



1,654



2,482



13,032


Income from continuing operations

96,395



94,394



46,197



51,498



190,738


Income from discontinued operations, net



681





1,022



681


   Net income

96,395



95,075



46,197



52,520



191,419


Less: net income attributable to non-controlling interests

(4,360)



(4,113)



(2,315)



(2,965)



(8,002)


Net income attributable to Elbit Systems Ltd.'s shareholders

$

92,035



$

90,962



$

43,882



$

49,555



$

183,417

















Earnings per share attributable to Elbit Systems Ltd.'s shareholders:







Basic net earnings per share















Continuing operations

$

2.16



$

2.15



$

1.03



$

1.16



$

4.34


Discontinued operations



0.02





0.02



0.01


Total

$

2.16



$

2.17



$

1.03



$

1.18



$

4.35


Diluted net earnings per share















Continuing operations

$

2.16



$

2.14



$

1.03



$

1.15



$

4.33


Discontinued operations



0.02





0.02



0.01


Total

$

2.16



$

2.16



$

1.03



$

1.17



$

4.34

















Weighted average number of shares (in thousands)

 used in computation of















 Basic earnings per share

42,636



41,977



42,658



42,047



42,139


Diluted earnings per share

42,661



42,146



42,682



42,217



42,295


Amounts attributable to Elbit Systems Ltd.'s shareholders













Income from continuing operations, net of  income tax

$

92,035



$

90,143



$

43,882



$

48,533



$

182,598


Discontinued operations, net of  income tax



819





1,022



819


Net income attributable to Elbit Systems Ltd.'s shareholders

$

92,035



$

90,962



$

43,882



$

49,555



$

183,417


 


ELBIT SYSTEMS LTD.

CONSOLIDATED STATEMENTS OF CASH FLOW

(In thousands of US Dollars)



Six Months Ended
 June 30,


Year Ended
December 31,


2014



2013



2013



Unaudited


Audited

CASH FLOWS FROM OPERATING ACTIVITIES









Net income

$

96,395



$

95,075



$

191,419


Adjustments to reconcile net income to net cash provided by operating activities:









Depreciation and amortization

62,605



64,475



129,348


Write-off impairment and discontinued operations, net



(681)



254


Stock-based compensation

184



252



440


Amortization of Series A Notes premium and related issuance costs, net

(46)



(46)



(92)


Deferred income taxes and reserve, net

(1,054)



13,476



221


Loss (gain) on sale of property, plant and equipment

(1,259)



175



(147)


Loss (gain) on sale of investment

(5,879)



(514)



873


Equity in net loss (earnings) of affiliated companies and partnerships, net of dividend received (*)

7,247



(2,674)



468


Changes in operating assets and liabilities, net of amounts acquired:









Increase in short and long-term trade receivables, and prepaid expenses

(83,440)



(113,820)



(108,337)


Increase in inventories, net

(64,941)



(36,085)



(4,785)


Increase (decrease) in trade payables, other payables and accrued expenses

(5,211)



437



55,935


Severance, pension and termination indemnities, net

(1,587)



4,128



(3,595)


Increase (decrease) in advances received from customers

12,745



36,696



(95,027)


Net cash provided by operating activities

15,759



60,894



166,975


CASH FLOWS FROM INVESTING ACTIVITIES









Purchase of property, plant and equipment and other assets

(26,988)



(32,950)



(63,019)


Acquisition of a subsidiary

787






Investments in affiliated companies and other companies

(3,536)



(4,975)



(6,222)


Proceeds from sale of property, plant and equipment

7,817



3,041



3,755


Proceeds from sale of investments

110



2,000



3,550


Investment in long-term deposits

(403)



(494)



(2,076)


Proceeds from sale of long-term deposits

602



94



795


Investment in short-term deposits and marketable securities

(69,109)



(20,050)



(50,975)


Proceeds from sale of short-term deposits and marketable securities

40,427



15,710



42,899


Net cash used in investing activities

(50,293)



(37,624)



(71,293)


CASH FLOWS FROM FINANCING ACTIVITIES









Proceeds from exercise of options

3,005



6,455



18,364


Repayment of long-term loans

(95,000)



(23,547)



(230,532)


Proceeds from long-term loans

196,500



10,060



242,247


Repayment of Series A Notes

(55,532)



(55,535)



(55,535)


Dividends paid (**)

(34,732)



(34,254)



(75,549)


Change in short-term bank credit and loans, net

398



8,988



(181)


Net cash provided by (used in) financing activities

14,639



(87,833)



(101,186)


NET DECREASE IN CASH AND CASH EQUIVALENTS

(19,895)



(64,563)



(5,504)


Cash and cash equivalents at the beginning of the year

193,737



199,241



199,241


Cash and cash equivalents at the end of the period

$

173,842



$

134,678



$

193,737


* Dividend received from affiliated companies and partnerships

$

9,998



$

1,500



$

13,500











** Dividends paid to the Company's shareholders and minority shareholders of a subsidiary.

 

ELBIT SYSTEMS LTD.

DISTRIBUTION OF REVENUES

(In millions of US Dollars)


Consolidated Revenues by Areas of Operation:



Six Months Ended


Three Months Ended


June 30,


June 30,


2014


2013


2014


2013


$ millions


%


$ millions


%


$ millions


%


$ millions


%

Airborne systems

579.1



41.8



562.1



40.6



289.1



41.1



278.8



39.7


Land systems

123.4



8.9



119.8



8.7



65.1



9.3



63.5



9.0


C4ISR systems

511.1



36.9



498.5



36.0



260.9



37.1



258.3



36.7


Electro-optic systems

125.3



9.0



159.5



11.5



59.7



8.5



78.4



11.2


Other (mainly non-defense
engineering and production
services)

46.4



3.4



43.2



3.2



27.9



4.0



23.9



3.4


Total

1,385.3



100.0



1,383.1



100.0



702.7



100.0



702.9



100.0






Consolidated Revenues by Geographic Regions:



Six Months Ended


Three Months Ended


June 30,


June 30,


2014


2013


2014


2013


$ millions


%


$ millions


%


$ millions


%


$ millions


%

Israel

331.6



23.9



288.9



20.9



168.6



24.0



150.3



21.4


North America

410.5



29.6



413.9



29.9



215.6



30.7



194.8



27.7


Europe

204.5



14.8



270.7



19.6



96.8



13.8



150.6



21.4


Latin America

171.0



12.3



132.6



9.6



101.7



14.5



67.3



9.5


Asia-Pacific

235.4



17.0



260.5



18.8



117.9



16.8



130.7



18.6


Other countries

32.3



2.4



16.5



1.2



2.1



0.2



9.2



1.4


Total

1,385.3



100.0



1,383.1



100.0



702.7



100.0



702.9



100.0


                                                                                                                           

SOURCE Elbit Systems Ltd.

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The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focu...
“This win means a great deal to us because it is decided by the readers – the people who understand how use of our technology enables new insights that drive the business,” said Matt Davies, senior director, EMEA marketing, Splunk. “Splunk Enterprise enables organizations to improve service levels, reduce operations costs, mitigate security risks, enhance DevOps collaboration, create new product and service offerings and obtain deeper insight into customer behavior. Being named Best Business App...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
“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.
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
At 15th Cloud Expo, Shrikant Pattathil, Executive Vice President at Harbinger Systems, demos a video delivery platform that helps you do interactive videos. He discusses how Harbinger is accomplishing it in the cloud world, the problems they faced and the choices they made to get around these problems.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water,...
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by minin...
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.
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mo...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immed...