SYS-CON MEDIA Authors: Peter Silva, Kevin Jackson, Jessica Qiu, Dana Gardner, Dan Stolts

News Feed Item

Entertainment Gaming Asia Inc. Reports Second Quarter 2014 Results And Provides Market Update

HONG KONG, Aug. 7, 2014 /PRNewswire/ -- Entertainment Gaming Asia Inc. (NASDAQ: EGT) ("Entertainment Gaming Asia" or "the Company"), a gaming company focused on emerging gaming markets in Pan-Asia, today reported operating results for the second quarter ended June 30, 2014 and reviewed recent corporate progress. 

Key Financial Metrics:

  • Consolidated revenue of $4.9 million for the second quarter of 2014
  • Adjusted EBITDA (earnings from continuing operations before interest, taxes, depreciation, amortization and non-cash charges) of $2.1 million for the second quarter of 2014
  • Net income from continuing operations of $217,000 for the second quarter of 2014
  • Cash balance of $4.7 million and zero debt as of June 30, 2014

Gaming operations revenue comprised solely slot participation as the Company ceased operations of its Dreamworld Pailin casino on June 1, 2014 and, as such, all the related historical revenues and expenses have been reclassified as discontinued operations for the presented periods. On June 20, 2014, the Company entered into an agreement to sell 100% of the issued capital shares of its Cambodian subsidiary established for the purposes of owning and operating Dreamworld Pailin. Pending government approval, this transaction is expected to close in the next few months at which time the Company will recognize the anticipated gain on the disposal of the entity.

The Company's second quarter of 2014 consolidated revenue was $4.9 million, a decrease of 5%  compared to $5.2 million in the second quarter of 2013 due to a decline in gaming operations revenue partially offset by an increase in gaming products sales.

Gaming operations revenue was $4.4 million for the second quarter of 2014, down 12% from $5.0 million in the second quarter of 2013. The decline was primarily due to lower average daily net win per unit from NagaWorld partially offset by improved revenue from Dreamworld Poipet.

Average consolidated daily net win per unit was $112, a decrease of 17% compared to $135 in the second quarter of 2013. The decline was primarily due to NagaWorld, which experienced higher jackpots in the second quarter of 2014. NagaWorld average daily net win per unit was $203 for the second quarter of 2014 compared to a particularly strong $256 in the prior year period. While NagaWorld average daily net win per unit declined on a year-over-year basis, it increased from $175 in the prior sequential quarter due to improved player traffic levels as protests in Phnom Penh have been fairly well contained.

Revenue from gaming products was $524,000 in the second quarter of 2014 compared to $162,000 in the second quarter of 2013. The increase was due to higher sales volumes from existing customers compared to the prior year period when the Company experienced a shortened production period due to time spent to relocate the manufacturing facilities from Australia to Hong Kong.

Entertainment Gaming Asia reported adjusted EBITDA of $2.1 million in the second quarter of 2014 compared to $2.3 million in the prior year period.

The Company reported a net loss of $22,000, or breakeven per share, on a weighted average diluted share count of approximately 30.1 million in the second quarter of 2014. The second quarter of 2014 net loss included a net loss of $239,000 from the discontinued Dreamworld Pailin operations. Excluding this, the Company reported net income from continuing operations of $217,000, or $0.01 per share, for the second quarter of 2014. This compared to a net loss of $286,000, or $0.01 per share, on a weighted average diluted share count of approximately 30.7 million for the second quarter of 2013. The second quarter of 2013 net loss included a net loss of $378,000 from discontinued operations related to Dreamworld Pailin and the Dolphin Products Pty Limited non-gaming plastic products business sold in March 2013. Excluding these discontinued operations, the Company reported net income from continuing operations of $92,000, or breakeven per share, for the second quarter of 2013.

The increase in net income from continuing operations was primarily the result of higher gross profit from the Company's Philippines gaming operations mainly due to an increase in fully depreciated gaming assets and lower operating expenses largely due to a benefit of approximately $448,000 related to the reversal in the second quarter of 2014 of a previously accrued one-time other tax liability related to the Philippines operations. In addition, the Company recorded slight foreign currency gains in the second quarter of 2014 compared to significant losses in the prior year period. This favorable differential of $263,000 was primarily due to the strengthening of the U.S. dollar compared to certain foreign currencies in the markets in which the Company operates in the prior year period. These factors were partially offset by lower revenue from NagaWorld.

Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, commented, "The decrease in gaming operations revenue for the second quarter of 2014 was largely due to the decline in revenue from NagaWorld. While player traffic levels have improved significantly from the first quarter of 2014, we experienced increased player jackpots in the second quarter, which dampened overall net win performance. The decline was partially offset by improved revenue from Dreamworld Poipet, which experienced volatility in the quarter due to the political unrest in Thailand but continued to make progress in improving the quality of its customer base. Revenue from the Philippines operations was relatively stable, with a slight improvement in average daily net win mainly due to new marketing initiatives.

"Our gaming products division experienced a gross margin loss for the quarter largely due to inefficiencies and under-absorption of fixed costs stemming, in part, from the delay of certain new automation equipment, which has now been installed. We are focused on improving production efficiencies and capacity to prepare for large order flow. With the two previously announced gaming chip and plaque orders in the Philippines for a combined total of over $4.0 million in revenue, along with normal reorders from existing customers, we believe we have an attractive pipeline for the second half of 2014.

"We are focused on improving our operating performance and on leveraging our established presence and relationships to secure new projects that will drive long-term growth for the Company. We continue to selectively seek both slot participation and casino development projects in more established markets in Indo-China and other growing gaming markets in Asia, which offer the potential for greater operational scale and returns."

Entertainment Gaming Asia is hosting a conference call and simultaneous webcast at 8:30 a.m. ET today, August 7, 2014, both of which are open to the general public. The conference call number is 800/734-8582 or 212/271-4657. Questions and answers will be reserved for call-in analysts and investors. Interested parties may also access the live call on the Internet at www.EGT-Group.com. Please allow 15 minutes to register and download and install any necessary software.  Following its completion, a replay of the call can be accessed for thirty days on the Internet at www.EGT-Group.com.

About Entertainment Gaming Asia Inc.
Entertainment Gaming Asia Inc. (NASDAQ: EGT) is a gaming company in Pan-Asia engaged in the leasing of electronic gaming machines on a revenue-sharing basis to the gaming industry and the development and operation of gaming venues in the Indo-China region under its "Dreamworld".  The Company also manufactures and sells RFID and traditional gaming chips and plaques to major casinos under its "Dolphin" brand.  For more information please visit www.EGT-Group.com.

Forward Looking Statements
This press release contains forward-looking statements concerning Entertainment Gaming Asia within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding expectations for the Company's slot operations business model, growth of the gaming industry in Asia, the Company's ability to secure new casino and gaming projects and fund those projects and expectations for the Company's gaming chips and plaques operations. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks related to the Company's ability to place gaming machines at significant levels and  generate the expected amount of net win from the gaming machines placed, identify and implement successful marketing and promotional strategies at the Company's gaming projects and identify and successfully develop additional projects, acquire additional capital as and when needed, ability to obtain the needed approval by certain customers from local gaming authorities to continue their purchase of gaming chips and plaques from the Hong Kong facility on a timely basis or at all, identify and implement successful marketing and promotional strategies and obtain and fulfill significant purchase orders from the customers for the Company's gaming chips and plaques, adapt to potential changes in gaming policies and political stability in the countries in which the Company operates and those other risks set forth in the Company's annual report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 31, 2014 and subsequently filed quarterly reports on Form 10-Q. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. 

- financial tables follow -


Entertainment Gaming Asia Inc.

Consolidated Statements of Comprehensive Income

(Unaudited)




Three-Month Periods

Ended June 30,



Six-Month Periods Ended June 30,

(amounts in thousands, except per share data)


2014


2013


2014


 

2013

Revenues:












   Gaming operations  

$

4,420


$

5,034


$

8,303


$

9,432

   Gaming products


524



162



1,335



1,589

Total revenues


4,944



5,196



9,638



11,021













Operating costs and expenses:












   Cost of gaming operations












           Gaming property and equipment depreciation


908



1,153



1,789



2,185

           Casino contract amortization


612



617



1,222



1,238

           Other gaming related intangibles amortization


63



63



126



126

           Other operating costs


895



869



1,740



1,670

Cost of gaming products


925



546



2,413



2,041

Selling, general and administrative expenses


1,098



1,328



2,579



2,823

Stock-based compensation expenses


69



198



141



445

Gain on disposition


(8)





(8)



Impairment of assets


19





19



Product development expenses


101



35



156



155

Depreciation and amortization


50



47



99



75

Total operating costs and expenses


4,732



4,856



10,276



10,758

Income/(loss) from operations


212



340



(638)



263













Other income/(expenses):












Interest expense and finance fees




(1)



(2)



(5)

Interest income








4

Foreign currency gains/(losses)


16



(247)



1



(172)

Other


4



7



12



10

Total other income/(expenses)


20



(241)



11



(163)













Income/(loss) from continuing operations before income tax


232



99



(627)



100













Income tax expenses


(15)



(7)



(30)



(48)













Net income/(loss) from continuing operations


217



92



(657)



52

Net loss from discontinued operations, net of tax


(239)



(378)



(395)



(2,846)













Net loss

$

(22)


$

(286)


$

(1,052)


$

(2,794)













Basic and diluted earnings per share:












   Loss

$


$

(0.01)


$

(0.03)


$

(0.09)

   Earnings/(loss) from continuing operations

$

0.01


$


$

(0.02)


$

   Loss from discontinued operations, net of tax

$

(0.01)


$

(0.01)


$

(0.01)


$

(0.09)













Weighted average common shares outstanding












    Basic


30,013



29,975



30,016



29,975

    Diluted


30,148



30,713



30,016



30,712















Entertainment Gaming Asia Inc.

Consolidated Balance Sheets




June 30, 2014


December 31, 2013

(amounts in thousands, except per share data)


(Unaudited)



ASSETS





Current assets:





Cash and cash equivalents

$

4,664

$

5,301

Accounts receivable, net


906


922

Amount due from a related party



108

Other receivables


103


453

Inventories


3,057


1,663

Assets held for sale


273


Prepaid expenses and other current assets


723


443

Total current assets


9,726


8,890






Gaming equipment, net


6,872


8,171

Casino contracts


4,218


5,429

Property and equipment, net


9,068


7,857

Goodwill


358


353

Intangible assets, net


755


899

Contract amendment fees


180


234

Prepaids, deposits and other assets


1,849


1,797

Total assets

$

33,026

$

33,630






LIABILITIES AND STOCKHOLDERS' EQUITY





Current liabilities:





Accounts payable

$

637

$

840

Amount due to a related party


20


19

Accrued expenses


1,431


2,366

Customer deposits and other current liabilities


1,863


457

Total current liabilities


3,951


3,682






Other liabilities


721


742

Deferred tax liability


199


199

Total liabilities


4,871


4,623






Stockholders' equity:





Common stock, $.001 par value, 75,000,000 shares authorized; 30,102,162 and 30,024,662 shares issued and outstanding, respectively


30


30

Additional paid-in-capital


33,298


33,156

Accumulated other comprehensive income


800


742

Accumulated losses


(5,974)


(4,922)

Total EGT stockholders' equity


28,154


29,006

Non-controlling interest


1


1

Total stockholders' equity


28,155


29,007

Total liabilities and stockholders' equity

$

33,026

$

33,630


Entertainment Gaming Asia Inc.

Adjusted EBITDA from Continuing Operations

(Unaudited)




Three-Month Periods Ended June 30,



Six-Month Periods Ended June 30,

(amounts in thousands)


2014



2013



2014



2013

Net income/(loss) from continuing operations – GAAP

$

217


$

92


$

(657)


$

52

Interest expense




1



2



5

Interest income








(4)

Income tax expenses


15



7



30



48

Depreciation and amortization


1,824



1,954



3,570



3,744

Stock-based compensation expenses


69



198



141



445

Impairment of assets


19





19



Gain on disposition


(8)





(8)



Adjusted EBITDA from continuing operations

$

2,136


$

2,252


$

3,097


$

4,290

Adjusted EBITDA is earnings from continuing operations before interest, taxes, depreciation, amortization, stock-based compensation, and other non-cash operating income and expenses. Adjusted EBITDA is presented exclusively as a supplemental disclosure because management believes that it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted EBITDA as a measure of the operating performance of its segments and to compare the operating performance of its operations with those of its competitors. The Company also presents Adjusted EBITDA because it is used by some investors as a way to measure a company's ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDA as a supplement to financial measures in accordance with generally accepted accounting principles in the United States ("GAAP"). Adjusted EBITDA should not be considered as an alternative to operating income as an indicator of the Company's performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP. Unlike net income/(loss), Adjusted EBITDA does not include depreciation or interest expense and,  therefore, does not reflect current or future capital expenditures or the cost of capital. The Company compensates for these limitations by using Adjusted EBITDA as only one of several comparative tools, together with GAAP measurements, to assist in the evaluation of operating performance. Such GAAP measurements include operating income, net income/(loss), cash flows from operations and cash flow data. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other non-recurring charges, which are not reflected in Adjusted EBITDA. Entertainment Gaming Asia's calculation of Adjusted EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

Gaming Operations

Net Revenue to EGT (in thousands)


Q2:14

Q2:13

Y/Y  

Cambodia


$3,350

$3,975

-16%

Philippines


$787

$803

-2%

Service revenue (1)


$283

$256

11%

Consolidated


$4,420

$5,034

-12%






Average Daily Net Win per Unit (2)


Q2:14

Q2:13

Y/Y  

Cambodia


$130

$169

-23%

Philippines


$76

$74

3%

Consolidated


$112

$135

-17%





EGM Seats in Operation


6/30/14

6/30/13

Y/Y

Cambodia


1,126

1,062

6%

Philippines


568

570

Consolidated


1,694

1,632

4%









(1) Service revenue represents a reimbursement of certain casino expenses, which for accounting purposes, is included in the revenue and grossed up in the costs of sales.

(2) Excludes electronic gaming machine (EGM) seats in operation during venue soft launch opening periods and includes cash payments for venues for which revenue is recognized on a cash basis. No EGM seats were excluded from the net win calculation for the second quarter of 2014. During the second quarter of 2013, one venue in Cambodia operated during a soft open. Had these seats been included in the net win calculation, Cambodia and consolidated net win for this period would have been $157 and $129, respectively.

SOURCE Entertainment Gaming Asia Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
Noted IoT expert and researcher Joseph di Paolantonio (pictured below) has joined the @ThingsExpo faculty. Joseph, who describes himself as an “Independent Thinker” from DataArchon, will speak on the topic of “Smart Grids & Managing Big Utilities.” Over his career, Joseph di Paolantonio has worked in the energy, renewables, aerospace, telecommunications, and information technology industries. His expertise is in data analysis, system engineering, Bayesian statistics, data warehouses, business intelligence, data mining, predictive methods, and very large databases (VLDB). Prior to DataArchon, he served as a VP and Principal Analyst with Constellation Group. He is a member of the Boulder (Colo.) Brain Trust, an organization with a mission “to benefit the Business Intelligence and data management industry by providing pro bono exchange of information between vendors and independent analysts on new trends and technologies and to provide vendors with constructive feedback on their of...
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.