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CareFusion Reports First Half Fiscal 2014 Results

- Second quarter revenue increased to $922 million, driven by continued strength in the company's Procedural Solutions segment

SAN DIEGO, Feb. 3, 2014 /PRNewswire/ -- CareFusion Corp. (NYSE: CFN), a leading, global medical technology company, today reported financial results for its second quarter of fiscal 2014, ended Dec. 31, 2013.

"Our team executed well during the quarter, with continued strength across the board in Procedural Solutions and in the Infusion Systems business line," said Kieran T. Gallahue, chairman and CEO. "During the quarter, we also secured a record number of committed contracts in the Dispensing Technologies business line, giving us the necessary momentum to drive strong second-half results.

"In addition, we made progress against our long-term strategy, gaining scale globally through the acquisitions of Sendal and Vital Signs and building a healthy innovation pipeline in Procedural Solutions."

Second Quarter Results
CareFusion reported second quarter fiscal 2014 revenue of $922 million, compared to $909 million in the second quarter of fiscal year 2013, a 1 percent increase on both a reported and constant currency basis.

Operating income was $152 million compared to $171 million in the prior year period. Excluding nonrecurring items, adjusted operating income decreased 4 percent to $181 million, with revenue mix negatively affecting the company's operating margins during the quarter. On a sequential basis, adjusted operating income improved 28 percent from the first quarter.

Operating expenses totaled $314 million. Excluding nonrecurring items, adjusted operating expenses were $288 million, an increase of 2 percent over the prior year period, primarily driven by the medical device excise tax.

The company reported income from continuing operations of $97 million, or $0.45 per diluted share. Adjusted income from continuing operations decreased 4 percent to $116 million and remained even with the prior year at $0.54 per diluted share.

Medical Systems
Second quarter revenue for the Medical Systems segment was $587 million, a 2 percent decrease from the prior year period on a reported and constant currency basis. Continued strength in the Infusion Systems business line was offset by lower revenue in the Respiratory Technologies business line and the impact of a product line transition in the Dispensing Technologies business line.

Segment profit for the quarter was $109 million, as revenue mix negatively affected segment margins. Adjusted segment profit decreased 7 percent to $124 million.

Procedural Solutions
Strong performance across the Procedural Solutions segment led to second quarter revenue of $335 million, a 9 percent increase from the prior year period on a reported and constant currency basis. The top-line results were driven by continued strength in the segment's clinically differentiated portfolio, with both the Infection Prevention and Specialty Disposables business lines delivering double-digit revenue increases during the quarter.

Segment profit totaled $43 million, growing 4 percent on an adjusted basis to $57 million.

Six-Month Results
For the first six months of fiscal 2014, revenue was even with the prior year period at $1.75 billion. Operating income totaled $268 million. Income from continuing operations was $175 million, or $0.81 per diluted share. Adjusted income from continuing operations was $212 million and equal with the prior year period at $0.98 per diluted share.

Operating expenses in the first six months totaled $621 million, or $569 million on an adjusted basis.

Segment results for the six months ended Dec. 31, 2013 and 2012 are as follows:

Medical Systems

1H FY14

1H FY13

Y/Y

Revenue

$1,111 million

$1,153 million

(4)%

Segment Profit

$183 million

$225 million

(19)%

Adjusted Segment Profit

$214 million

$246 million

(13)%





Procedural Solutions

1H FY14

1H FY13

Y/Y

Revenue

$641 million

$593 million

8%

Segment Profit

$85 million

$89 million

(4)%

Adjusted Segment Profit

$109 million

$103 million

6%

Recent Highlights
Additional second quarter and recent highlights included:

Fiscal 2014 Outlook
For the fiscal year ending June 30, 2014, CareFusion continues to expect organic revenue to grow 1 to 4 percent on a constant currency basis compared to fiscal 2013 revenue of $3.55 billion. Adjusted diluted earnings per share from continuing operations are expected to be in the range of $2.30 to $2.40.

Conference Call
CareFusion will host a conference call today at 2 p.m. PST (5 p.m. EST) to discuss its financial and operational results for the second quarter.

To access the call, visit the Investors page at www.carefusion.com. Log on at least 15 minutes before the call begins to register and download or install any necessary audio software. Investors and other interested parties may also access the call by dialing 866.271.5140 within the U.S. or 617.213.8893 from outside the U.S. and using the access code 34473695. A replay of the conference call will be available from 6 p.m. PST (9 p.m. EST) on Feb. 3 through 11:59 p.m. PST on Feb. 10 and can be accessed by dialing 888.286.8010 in the U.S. or 617.801.6888 from outside the U.S. and using the access code 56827165.

About CareFusion Corporation
CareFusion (NYSE: CFN) is a global corporation serving the health care industry with products and services that help hospitals measurably improve the safety and quality of care. The company develops industry-leading technologies including Alaris® infusion pumps and IV sets, MaxPlus® and MaxZero IV connectors and sets, Pyxis® automated dispensing and patient identification systems, AVEA®, LTV® series and AirLife® ventilation and respiratory products, ChloraPrep® products, MedMined® services for data mining surveillance, V. Mueller® surgical instruments, and an extensive line of products that support interventional medicine. CareFusion employs approximately 15,000 people across its global operations. More information may be found at www.carefusion.com.

Use of Non-GAAP Financial Measures by CareFusion Corporation
This CareFusion news release and the information contained herein present non-GAAP financial measures that exclude certain amounts, as follows: "adjusted segment profit," "adjusted operating expenses," "adjusted operating income," and "adjusted operating margin," which exclude amortization of acquired intangibles, as well as nonrecurring restructuring and acquisition integration charges; and "adjusted income from continuing operations," "adjusted diluted earnings per share from continuing operations" and "adjusted effective tax rate," which exclude amortization of acquired intangibles, as well as nonrecurring restructuring and acquisition integration charges and nonrecurring tax items. In addition, commencing with the quarter ended December 31, 2013, the company began excluding from its adjusted results inventory valuation step-up charges from acquisitions. The most directly comparable GAAP financial measures for these non-GAAP financial measures are segment profit, operating expenses, operating income, operating margin, income from continuing operations, diluted earnings per share from continuing operations and effective tax rate. The company has included below unaudited adjusted financial information for the quarters and six months ended December 31, 2013 and 2012, which includes a reconciliation of GAAP to non-GAAP financial measures.

The company's management uses these non-GAAP financial measures to evaluate the company's performance and provides them to investors as a supplement to the company's reported results, as they believe this information provides additional insight into the company's operating performance by disregarding certain nonrecurring items. These non-GAAP financial measures should not be considered in isolation, as a substitute for, or as superior to, financial measures calculated in accordance with GAAP, and the company's financial results calculated in accordance with GAAP and reconciliations to those financial statements should be carefully evaluated. The non-GAAP financial measures used by the company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. While the types of items and charges excluded from the company's non-GAAP financial measures may occur in the future, the company's management believes that they are not reflective of the day-to-day offering of its products and services and relate more to strategic, multi-year corporate actions, without predictable trends, or discrete and unusual or infrequent transactions that are not indicative of future operations or business trends.

Cautions Concerning Forward-looking Statements
The CareFusion news release and the information contained herein present forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. CareFusion intends forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause the company's actual results to differ materially from those projected, anticipated or implied by the forward-looking statements. The most significant of these uncertainties are described in CareFusion's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports) and exhibits to those reports, and include (but are not limited to) the following: we may be unable to effectively enhance our existing products or introduce and market new products or may fail to keep pace with advances in technology; we are subject to complex and costly regulation; cost containment efforts of our customers, purchasing groups, third-party payers and governmental organizations could adversely affect our sales and profitability; current economic conditions have and may continue to adversely affect our results of operations and financial condition; we may be unable to realize any benefit from our cost reduction and restructuring efforts and our profitability may be hurt or our business otherwise might be adversely affected; we may be unable to protect our intellectual property rights or may infringe on the intellectual property rights of others; defects or failures associated with our products and/or our quality system could lead to the filing of adverse event reports, recalls or safety alerts and negative publicity and could subject us to regulatory actions; and we are currently operating under an amended consent decree with the FDA and our failure to comply with the requirements of the amended consent decree may have an adverse effect on our business. The CareFusion news release and the information contained herein reflect management's views as of February 3, 2014. Except to the limited extent required by applicable law, CareFusion undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CAREFUSION CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)










Quarters Ended

December 31,


Six Months Ended

December 31,

(in millions, except per share amounts)


2013


2012


2013


2012

Revenue


$

922



$

909



$

1,752



$

1,746


Cost of Products Sold


456



438



863



839


    Gross Profit


466



471



889



907


Selling, General and Administrative Expenses


257



249



505



493


Research and Development Expenses


47



48



95



95


Restructuring and Acquisition Integration Charges


10



3



21



5


    Operating Income


152



171



268



314


Interest Expense and Other, Net


21



19



41



38


Income Before Income Tax


131



152



227



276


Provision for Income Tax


34



44



52



81


Income from Continuing Operations


97



108



175



195


Loss from Discontinued Operations, Net of Tax








(3)


Net Income


$

97



$

108



$

175



$

192


Per Share Amounts:1









Basic Earnings (Loss) per Common Share:









    Continuing Operations


$

0.46



$

0.49



$

0.83



$

0.88


    Discontinued Operations


$



$



$



$

(0.01)


    Basic Earnings per Common Share


$

0.46



$

0.49



$

0.83



$

0.87


Diluted Earnings (Loss) per Common Share:









    Continuing Operations


$

0.45



$

0.48



$

0.81



$

0.87


    Discontinued Operations


$



$



$



$

(0.01)


    Diluted Earnings per Common Share


$

0.45



$

0.48



$

0.81



$

0.86


Weighted-Average Number of Common Shares Outstanding:









    Basic


210.5



222.6



212.2



222.3


    Diluted


213.7



224.9



215.5



224.7


Adjusted Financial Measures:2









    Gross Profit


$

469



$

471



$

892



$

907


    Gross Margin3


50.9

%


51.8

%


50.9

%


51.9

%

    Operating     Expenses


$

288



$

282



$

569



$

558


    Operating Income


$

181



$

189



$

323



$

349


    Operating Margin3


19.6

%


20.8

%


18.4

%


20.0

%

    Income from Continuing Operations


$

116



$

121



$

212



$

220


    Diluted EPS from Continuing Operations


$

0.54



$

0.54



$

0.98



$

0.98


    Effective Tax Rate


27.3

%


29.6

%


24.8

%


29.9

%























1 Earnings per share calculations are performed separately for each component presented. Therefore, the sum of the per share components from the table may not equal the per share amounts presented.










2 Adjusted financial measures are non-GAAP measures that exclude amortization of acquired intangibles, as well as certain nonrecurring items, as discussed above under Use of Non-GAAP Financial Measures. Commencing with the quarter ended December 31, 2013, the company began excluding from its adjusted results inventory valuation step-up charges from acquisitions. Financial information for historical periods has not been revised to reflect the exclusion of such inventory step-up charges, as the amounts were immaterial. Additional information regarding inventory valuation step-up charges from acquisitions and a reconciliation of the adjusted financial measures to comparable GAAP measures can be found in the Reconciliation of Non-GAAP Financial Measures included in the pages that follow.










3 Adjusted gross margin and adjusted operating margin reflect adjusted gross profit and adjusted operating income, in each case divided by revenue. The Reconciliation of Non-GAAP Financial Measures included in the pages that follow present a reconciliation of adjusted operating income from which adjusted operating margin is derived.




CAREFUSION CORPORATION

SEGMENT AND SELECT BUSINESS LINE REVENUES

(UNAUDITED)
















Quarters Ended

December 31,


Percent


Six Months Ended

December 31,


Percent

(in millions)


2013


2012


Change


2013


2012


Change

Medical Systems













    Dispensing Technologies


$

236



$

260



(9)

%


$

447



$

504



(11)

%

    Infusion Systems


247



229



8

%


466



432



8

%

    Respiratory Technologies


96



106



(9)

%


184



203



(9)

%

    Other


8



7



14

%


14



14



%

        Total Medical Systems


$

587



$

602



(2)

%


$

1,111



$

1,153



(4)

%

Procedural Solutions













    Infection Prevention


$

168



$

152



11

%


$

317



$

296



7

%

    Medical Specialties


89



86



3

%


178



166



7

%

    Specialty Disposables


78



69



13

%


146



131



11

%

        Total Procedural Solutions


$

335



$

307



9

%


$

641



$

593



8

%

Total CareFusion


$

922



$

909



1

%


$

1,752



$

1,746



%

 

 

CAREFUSION CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(UNAUDITED)


















Adjusted Financial Data:



















Segment Profit













(in millions, except per share amounts)


Medical Systems


Procedural Solutions


Gross Profit


SG&A Expenses


Operating

Expenses

4

Operating Income


Income from Continuing Operations 5


Diluted

EPS from

Continuing

Operations 6

Quarter Ended December 31, 2013

















GAAP


$

109



$

43



$

466



$

257



$

314



$

152



$

97



$

0.45


  Restructuring and Acquisition Integration1


6



4







(10)



10



7



0.03


  Amortization of Acquired Intangibles2


9



7





(16)



(16)



16



10



0.05


  Step-up of Acquired Inventory3




3



3







3



2



0.01


Adjusted


$

124



$

57



$

469



$

241



$

288



$

181



$

116



$

0.54


Six Months Ended December 31, 2013

















GAAP


$

183



$

85



$

889



$

505



$

621



$

268



$

175



$

0.81


  Restructuring and Acquisition Integration1


13



8







(21)



21



15



0.07


  Amortization of Acquired Intangibles2


18



13





(31)



(31)



31



20



0.09


  Step-up of Acquired Inventory3




3



3







3



2



0.01


Adjusted


$

214



$

109



$

892



$

474



$

569



$

323



$

212



$

0.98


Quarter Ended December 31, 2012

















GAAP


$

123



$

48



$

471



$

249



$

300



$

171



$

108



$

0.48


  Restructuring and Acquisition Integration1


2



1







(3)



3



3



0.01


  Amortization of Acquired Intangibles2


9



6





(15)



(15)



15



10



0.04


Adjusted


$

134



$

55



$

471



$

234



$

282



$

189



$

121



$

0.54


Six Months Ended December 31, 2012

















GAAP


$

225



$

89



$

907



$

493



$

593



$

314



$

195



$

0.87


  Restructuring and Acquisition Integration1


3



2







(5)



5



5



0.02


  Amortization of Acquired Intangibles2


18



12





(30)



(30)



30



20



0.09


Adjusted


$

246



$

103



$

907



$

463



$

558



$

349



$

220



$

0.98






























1 Restructuring and acquisition integration charges primarily relate to nonrecurring expenses associated with rationalizing headcount and aligning operations.


















2 Amortization of acquired intangibles relate to the non-cash expenses associated with amortization of identifiable intangible assets of acquired businesses.


















3 Step-up of acquired inventory relates to the non-cash expenses associated with inventory valuation step-up charges from acquisitions. In connection with acquisition transactions, the company acquires inventory that is recorded at fair value at the time of the acquisition. As the fair value of acquired finished goods inventory is recorded at the anticipated customer sales price less cost to sell, which is generally higher than the historical carrying value, the company must record a charge equal to the difference between the fair value and historical carrying value as the underlying product is sold. The company began excluding from its adjusted results inventory valuation step-up charges from acquisitions during the quarter ended December 31, 2013, as the company does not believe such non-cash charges are reflective of ongoing operating results. Financial information for historical periods has not been revised to reflect the exclusion of such inventory step-up charges, as the amounts were immaterial.


















4 Operating expenses consist of selling, general and administrative, research and development, and restructuring and acquisition integration expenses.


















5 Income from continuing operations is presented net of tax effect. Additional information about nonrecurring tax items related to nonrecurring expenses and the impact on the effective tax rate is included in the Reconciliation of the Adjusted Effective Tax Rate on the following page.


















6 Earnings per share calculations are performed separately for each component presented. Therefore, the sum of the per share components from the table may not equal the per share amounts presented.




CAREFUSION CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(UNAUDITED)












Adjusted Effective Tax Rate:











(in millions)


GAAP


Nonrecurring Items1


Inventory

Step-Up2


Amortization of Acquired Intangibles3


Adjusted4

Quarter Ended December 31, 2013











    Income Before Income Tax


$

131



$

10



$

3



$

16



$

160


    Provision for Income Tax


$

34



$

3



$

1



$

6



$

44


    Effective Tax Rate5


26.0

%


30.0

%


30.0

%


34.2

%


27.3

%

Six Months Ended December 31, 2013











    Income Before Income Tax


$

227



$

21



$

3



$

31



$

282


    Provision for Income Tax


$

52



$

6



$

1



$

11



$

70


    Effective Tax Rate5


22.8

%


28.6

%


30.0

%


34.2

%


24.8

%

Quarter Ended December 31, 2012











    Income Before Income Tax


$

152



$

3



$



$

15



$

170


    Provision for Income Tax


$

44



$



$



$

5



$

49


    Effective Tax Rate5


29.1

%


33.3

%


%


33.3

%


29.6

%

Six Months Ended December 31, 2012











    Income Before Income Tax


$

276



$

5



$



$

30



$

311


    Provision for Income Tax


$

81



$



$



$

10



$

91


    Effective Tax Rate5


29.4

%


40

%


%


33.3

%


29.9

%












Adjusted EPS Outlook for Fiscal Year Ending June 30, 2014:












GAAP Diluted Earnings per Common Share from Continuing Operations


$1.88 - $1.98

Estimated charges for nonrecurring items related to restructuring and acquisition integration, net of tax (mid-point of an estimated range of $0.13 to $0.17 per diluted share)


$0.15

Estimated charges for inventory step-up from acquisitions (mid-point of an estimated range of $0.03 to $0.05)


0.04

Estimated acquisition-related intangible amortization, net of tax


0.23

Adjusted Diluted Earnings per Common Share from Continuing Operations


$2.30 - $2.40





















1 Reflects nonrecurring charges primarily related to nonrecurring restructuring and acquisition integration charges, and nonrecurring income tax items.












2 Step-up of acquired inventory relates to the non-cash expenses associated with inventory step-up charges from acquisitions. The company began excluding inventory valuation step-up charges from acquisitions during the quarter ended December 31, 2013. Financial information for historical periods has not been revised to reflect the exclusion of such inventory step-up charges, as the amounts were immaterial.












3 Amortization of acquired intangibles relate to the non-cash expenses associated with amortization of identifiable intangible assets of acquired businesses.












4 Adjusted financial information reflects GAAP results adjusted on a non-GAAP basis to exclude nonrecurring items, amortization of acquired intangibles, inventory valuation step-up charges, and nonrecurring income tax items noted above.












5 Effective tax rate calculations are performed based on whole dollar amounts, and therefore may not equal the calculations based on amounts rounded in millions presented in the table above.



CAREFUSION CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(in millions, except per share data)


December 31,

2013


June 30,

2013

ASSETS

Current Assets:





    Cash and Cash Equivalents


$

1,309



$

1,798


    Trade Receivables, Net


451



429


    Current Portion of Net Investment in Sales-Type Leases


326



351


    Inventories, Net


433



384


    Prepaid Expenses


32



30


    Other Current Assets


278



141


        Total Current Assets


2,829



3,133


Property and Equipment, Net


446



409


Net Investment in Sales-Type Leases, Less Current Portion


966



1,001


Goodwill


3,256



3,081


Intangible Assets, Net


1,066



793


Other Assets


68



136


        Total Assets


$

8,631



$

8,553


LIABILITIES AND EQUITY

Current Liabilities:





    Current Portion of Long-Term Obligations and Other Short-Term Borrowings


$

456



$

2


    Accounts Payable


148



147


    Deferred Revenue


55



51


    Accrued Compensation and Benefits


140



150


    Other Accrued Liabilities


273



242


        Total Current Liabilities


1,072



592


Long-Term Obligations, Less Current Portion


999



1,444


Deferred Income Taxes


710



638


Other Liabilities


492



493


        Total Liabilities


3,273



3,167


Commitments and Contingencies





Stockholders' Equity:





    Preferred Stock (50.0 Authorized Shares; $.01 Par Value) Issued – None





    Common Stock (1,200.0 Authorized Shares; $.01 Par Value) Issued – 232.0 and 229.4 shares at December 31, 2013 and June 30, 2013, respectively


2



2


    Treasury Stock, at cost, 23.6 and 15.5 shares at December 31, 2013 and June 30, 2013, respectively


(812)



(505)


    Additional Paid-In Capital


4,960



4,886


    Retained Earnings


1,223



1,048


    Accumulated Other Comprehensive Loss


(15)



(45)


    Total Stockholders' Equity


5,358



5,386




$

8,631



$

8,553




CAREFUSION CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)



Six Months Ended

December 31,

(in millions)


2013


2012

Cash and Cash Equivalents at July 1, Attributable to Continuing Operations


$

1,798



$

1,648


Cash and Cash Equivalents at July 1, Attributable to Discontinued Operations


$



$

(1)


Cash Flows from Operating Activities:





Net Income


175



192


Loss from Discontinued Operations




(3)


Income from Continuing Operations


175



195


Adjustments to Reconcile Income from Continuing Operations to Net Cash Provided by Operating Activities:





    Depreciation and Amortization


93



91


    Other Non-Cash Items


56



47


    Change in Operating Assets and Liabilities, Excluding Impact of Acquired Assets and Assumed Liabilities:





        Trade Receivables


15



3


        Inventories


(9)



(9)


        Net Investment in Sales-Type Leases


59



(13)


        Accounts Payable


(13)




        Other Accrued Liabilities and Operating Items, Net


(79)



(57)


Net Cash Provided by Operating Activities – Continuing Operations


297



257


Net Cash Provided by Operating Activities – Discontinued Operations




1


Net Cash Provided by Operating Activities


297



258


Cash Flows from Investing Activities:





Cash Paid for Acquisitions, Net of Cash Received


(501)



(62)


Additions to Property and Equipment


(37)



(40)


Other Investing Activities


(1)



(1)


Net Cash Used in Investing Activities – Continuing Operations


(539)



(103)


Net Cash Used in Investing Activities


(539)



(103)


Cash Flows from Financing Activities:





Repayment of Long-Term Obligations


(1)



(250)


Share Repurchase Programs


(301)




Proceeds from Stock Option Exercises


51




Other Financing Activities


(8)



(9)


Net Cash Used in Financing Activities – Continuing Operations


(259)



(259)


Net Cash Used in Financing Activities


(259)



(259)


Effect of Exchange Rate Changes on Cash


12



15


Net Decrease in Cash and Cash Equivalents – Continuing Operations


(489)



(90)


Net Increase in Cash and Cash Equivalents – Discontinued Operations




1


Net Decrease in Cash and Cash Equivalents


(489)



(89)


Cash and Cash Equivalents at December 31, Attributable to Continuing Operations


$

1,309



$

1,558


Cash and Cash Equivalents at December 31, Attributable to Discontinued Operations


$



$


Non-Cash Investing and Financing Activities:





Asset Acquired by Entering into Capital Lease


$

4



$


(Logo: http://photos.prnewswire.com/prnh/20100706/CAREFUSIONLOGO)

SOURCE CareFusion Corp.

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Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
With Cloud Foundry you can easily deploy and use apps utilizing websocket technology, but not everybody realizes that scaling them out is not that trivial. In his session at 21st Cloud Expo, Roman Swoszowski, CTO and VP, Cloud Foundry Services, at Grape Up, will show you an example of how to deal with this issue. He will demonstrate a cloud-native Spring Boot app running in Cloud Foundry and communicating with clients over websocket protocol that can be easily scaled horizontally and coordinate...
IT organizations are moving to the cloud in hopes to approve efficiency, increase agility and save money. Migrating workloads might seem like a simple task, but what many businesses don’t realize is that application migration criteria differs across organizations, making it difficult for architects to arrive at an accurate TCO number. In his session at 21st Cloud Expo, Joe Kinsella, CTO of CloudHealth Technologies, will offer a systematic approach to understanding the TCO of a cloud application...
In his session at 20th Cloud Expo, Chris Carter, CEO of Approyo, discussed the basic set up and solution for an SAP solution in the cloud and what it means to the viability of your company. Chris Carter is CEO of Approyo. He works with business around the globe, to assist them in their journey to the usage of Big Data in the forms of Hadoop (Cloudera and Hortonwork's) and SAP HANA. At Approyo, we support firms who are looking for knowledge to grow through current business process, where even 1%...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Secure Channels, a cybersecurity firm, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Secure Channels, Inc. offers several products and solutions to its many clients, helping them protect critical data from being compromised and access to computer networks from the unauthorized. The company develops comprehensive data encryption security strategie...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, discussed how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees learned how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He also looked at what good leadership must entail in order to accomplish this, and how IT managers can be the ...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. 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 w...
Vulnerability management is vital for large companies that need to secure containers across thousands of hosts, but many struggle to understand how exposed they are when they discover a new high security vulnerability. In his session at 21st Cloud Expo, John Morello, CTO of Twistlock, will address this pressing concern by introducing the concept of the “Vulnerability Risk Tree API,” which brings all the data together in a simple REST endpoint, allowing companies to easily grasp the severity of t...
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyer belt between the Software Factory and production stages. Artifacts are m...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
There is only one world-class Cloud event on earth, and that is Cloud Expo – which returns to Silicon Valley for the 21st Cloud Expo at the Santa Clara Convention Center, October 31 - November 2, 2017. Every Global 2000 enterprise in the world is now integrating cloud computing in some form into its IT development and operations. Midsize and small businesses are also migrating to the cloud in increasing numbers. Companies are each developing their unique mix of cloud technologies and service...