Welcome!

News Feed Item

HNI Corporation Increases Net Income 29% For Fourth Quarter And 30% For Full Year Fiscal 2013

MUSCATINE, Iowa, Feb. 4, 2014 /PRNewswire/ -- HNI Corporation (NYSE: HNI) today announced sales for the fourth quarter ended December 28, 2013, of $541.3 million, a 3 percent increase from the prior year quarter and net income of $22.8 million, a 29 percent increase from the prior year quarter.  Net income per diluted share for the quarter was $0.50.  For fiscal year 2013, the Corporation reported sales of $2.1 billion, a 3 percent increase from prior year, and net income of $63.7 million, a 30 percent increase from prior year.  Net income per diluted share for the year was $1.39 or $1.43 on a non-GAAP basis when excluding restructuring and transition costs and a loss on the sale of a small non-core office furniture business.

"We are pleased with our strong execution and profit improvement for the fourth quarter and full year 2013.  Our growth investments delivered top-line improvement in the quarter despite a slow economy.  Outstanding working capital management drove significant cash generation.  Office furniture sales increased in our supplies-driven business despite continued reductions in federal government spending.  Continued strong profit growth in our hearth business was led by substantial growth in both the new construction and remodel/retrofit channels and outstanding operational execution.  We enter 2014 financially strong, competitively well positioned, and focused on delivering profitable growth," said Stan Askren, HNI Corporation Chairman, President and Chief Executive Officer.

 

Fourth Quarter – GAAP Financial Measures

 

Dollars in millions

except per share data

Three Months Ended

Percent

Change

12/28/2013

12/29/2012





Net sales

$541.3

$527.5

2.6%

Gross profit

$193.0

$186.0

3.8%

Gross profit %

35.7%

35.2%


SG&A

$155.3

$155.6

-0.2%

SG&A %

28.7%

29.5%


Operating income

$37.6

$30.3

24.2%

Operating income %

7.0%

5.7%


Net income attributable to HNI Corporation

$22.8

$17.6

29.4%





Earnings per share attributable to HNI Corporation – diluted

$0.50

$0.39

28.2%

  • Consolidated net sales increased $13.7 million or 2.6 percent to $541.3 million. Compared to prior year quarter, divestitures reduced sales $8.2 million. On an organic basis sales increased 4.1 percent.
  • Gross margin was 0.5 percentage points higher than prior year quarter primarily due to higher volume and increased price realization partially offset by new product ramp-up and operation reconfiguration costs to meet changing market demands.
  • Total selling and administrative expenses as a percent of net sales, including restructuring charges, decreased 0.8 percentage points from the prior year quarter due to higher volume, network distribution realignment savings and lower restructuring charges partially offset by investment in growth initiatives and higher incentive-based compensation.
  • The Corporation's fourth quarter results included $0.1 million of restructuring charges associated with previously announced shutdown and consolidation of office furniture manufacturing locations. Included in the fourth quarter of 2012 was $1.1 million of restructuring and transition costs of which $0.3 million was included in cost of sales.

 

Fourth Quarter – Non-GAAP Financial Measures

(Reconciled with most comparable GAAP financial measures)

Dollars in millions

except per share data

Three Months Ended 12/28/2013


Three Months Ended 12/29/2012

Gross

Profit

 

SG&A

Operating

Income

Diluted

EPS


Gross

Profit

 

SG&A

Operating

Income

Diluted

EPS











As reported (GAAP)

$193.0

$155.3

$37.6

$0.50


$186.0

$155.6

$30.3

$0.39

  % of net sales

35.7%

28.7%

7.0%



35.2%

29.5%

5.7%












Restructuring and impairment

-

$(0.1)

$0.1

$0.00


-

$(0.6)

$0.6

$0.01

Transition costs

-

-

-

-


$0.3

$(0.2)

$0.5

$0.00











Results (non-GAAP)

$193.0

$155.2

$37.7

$0.50


$186.3

$154.8

$31.4

$0.40

  % of net sales

35.7%

28.7%

7.0%



35.3%

29.3%

6.0%


 

Full Year – GAAP Financial Measures

 

Dollars in millions

except per share data

Twelve Months Ended

Percent

Change

12/28/2013

12/29/2012





Net sales

$2,060.0

$2,004.0

2.8%

Gross profit

$715.3

$689.2

3.8%

Gross profit %

34.7%

34.4%


SG&A

$609.3

$601.6

1.3%

SG&A %

29.6%

30.0%


Operating income

$106.0

$87.6

21.0%

Operating income %

5.1%

4.4%


Net income attributable to HNI Corporation

$63.7

$49.0

30.1%





Earnings per share attributable to HNI Corporation – diluted

$1.39

$1.07

29.9%

 

  • Consolidated net sales increased $56.0 million or 2.8 percent to $2.1 billion. Compared to prior year, divestitures, partially offset by the acquisition of BP Ergo, reduced sales $27.5 million. On an organic basis sales increased 4.2 percent.
  • Gross margin was 0.3 percentage points higher than prior year due to increased volume, better price realization and lower material costs offset partially by unfavorable mix, new product ramp-up and operation reconfiguration costs to meet changing market demands.
  • Total selling and administrative expenses as a percent of net sales, including restructuring charges, improved 0.4 percentage points due to higher volume, network distribution realignment savings and lower restructuring charges partially offset by investment in growth initiatives, higher incentive-based compensation and a loss on the sale of a small non-core office furniture business. Included in 2013 were $0.3 million of restructuring and transition charges compared to $3.0 million in 2012.
  • The provision for income taxes for 2013 reflects an effective tax rate of 34.5 percent compared to 37.7 percent in 2012. The decrease is due to the research tax credit for 2012 being applied in fiscal 2013.

Cash flow from operations for the year was $165.0 million compared to $144.8 million in 2012.   Capital expenditures were $78.9 million in 2013 compared to $60.3 million in 2012.    

Full Year – Non-GAAP Financial Measures

(Reconciled with most comparable GAAP financial measures)

Dollars in millions

except per share data

Twelve Months Ended 12/28/2013


Twelve Months Ended 12/29/2012

Gross

Profit

 

SG&A

Operating

Income

Diluted

EPS


Gross

Profit

 

SG&A

Operating

Income

Diluted

EPS











As reported (GAAP)

$715.3

$609.3

$106.0

$1.39


$689.2

$601.6

$87.6

$1.07

  % of net sales

34.7%

29.6%

5.1%



34.4%

30.0%

4.4%












Restructuring and impairment

-

$(0.3)

$0.3

$0.01


$0.4

$(1.9)

$2.3

$0.03

Transition costs

-

-

-

-


$0.7

$(1.1)

$1.8

$0.03

Loss on sale

-

$(2.5)

$2.5

$0.03
















Results (non-GAAP)

$715.3

$606.5

$108.8

$1.43


$690.3

$598.6

$91.8

$1.13

  % of net sales

34.7%

29.4%

5.3%



34.4%

29.9%

4.6%


 

Office Furniture – GAAP Financial Measures






Dollars in millions

Three Months Ended

Percent
Change

Twelve Months Ended

Percent
Change

12/28/2013

12/29/2012

12/28/2013

12/29/2012








Sales

$417.0

$422.3

-1.3%

$1,685.2

$1,687.3

-0.1%

Operating profit

$25.8

$23.5

9.8%

$97.3

$91.8

6.0%

Operating profit %

6.2%

5.6%


5.8%

5.4%










Non-GAAP Financial Measures

(Reconciled with most comparable GAAP measures)






Dollars in millions

Three Months Ended

Percent
Change

Twelve Months Ended

Percent
Change

12/28/2013

12/29/2012

12/28/2013

12/29/2012








Operating profit

as reported (GAAP)

$25.8

$23.5

9.8%

$97.3

$91.8

6.0%

% of net sales

6.2%

5.6%


5.8%

5.4%









Restructuring and impairment

$0.1

$0.6


$0.3

$2.3


Transition costs

-

$0.5


-

$1.8


Loss on sale

-

-


$2.5

-









Operating profit (non-GAAP)

$25.9

$24.6

5.2%

$100.1

$96.0

4.3%

% of net sales

6.2%

5.8%


5.9%

5.7%


 

  • Fourth quarter sales for the office furniture segment were $417.0 million which was $5.4 million or 1.3 percent less than the same quarter last year. Compared to prior year quarter, divestitures reduced sales by $8.2 million. On an organic basis, sales increased 0.7 percent driven by growth in the supplies-driven channel partially offset by a decrease in the contract and international businesses. Federal government sales declined over 40 percent compared to the same quarter last year. Full year sales for the office furniture segment were $1.69 billion which was $2.1 million or 0.1 percent less than prior year. Compared to prior year, divestitures partially offset by the acquisition of BP Ergo, reduced sales by $27.5 million. On an organic basis, sales increased 1.5 percent driven mainly by growth in the supplies-driven channel. Full year sales to the federal government declined over 27 percent compared to the prior year.
  • Fourth quarter and full year operating profit increased $2.3 million and $5.5 million, respectively. Operating profit margin was positively impacted by increased price realization, network realignment savings and lower restructuring charges. These were partially offset by lower volume, new product ramp-up, operation reconfiguration to meet changing market demands and a loss on the sale of a small non-core office furniture business.

Hearth Products – GAAP Financial Measures








Dollars in millions

Three Months Ended

Percent
Change

Twelve Months Ended

Percent
Change

12/28/2013

12/29/2012

12/28/2013

12/29/2012








Sales

$124.3

$105.2

18.1%

$374.8

$316.7

18.3%

Operating profit

$23.0

$15.4

49.0%

$46.7

$26.5

76.2%

Operating profit %

18.5%

14.7%


12.5%

8.4%


 

  • Fourth quarter and full year sales for the hearth products segment increased $19.1 million and $58.1 million, respectively. These increases were driven by increases in both the new construction and the remodel/retrofit channels.
  • Fourth quarter and full year operating profit increased $7.6 million and $20.2 million, respectively. Operating profit was positively impacted by higher volume, better price realization and lower material costs partially offset by investments in growth initiatives and incentive-based compensation.

Outlook
"I remain positive about our markets and our ability to grow sales and increase profits in 2014.  We continue to aggressively invest for long-term profitable growth, and I remain confident our investments are delivering shareholder value.  Our businesses are strong, competitive, and well-positioned in their markets, and the prospects for our businesses are encouraging," said Mr. Askren.

The Corporation estimates sales growth between 1 and 5 percent in the first quarter over the same period in the prior year.  Non-GAAP earnings per diluted share are anticipated in the range of $0.07 to $0.12 for the first quarter.  For the full year, the Corporation is updating its estimate of non-GAAP earnings per diluted share to be in the range of $1.60 to $1.80, which excludes restructuring charges and transition costs.

The Corporation remains focused on delivering long-term shareholder value through its core strategic framework:  Member/Owner Culture, Rapid Continuous Improvement (RCI), Core Plus and Split-and-Focus with Leverage.

Conference Call
HNI Corporation will host a conference call on Wednesday, February 5, 2014 at 10:00 a.m. (Central) to discuss fourth quarter and year-end 2013 results.  To participate, call 1-877-512-9166 – conference ID number 36780244.  A live webcast of the call will be available on HNI Corporation's website at http://www.hnicorp.com (under Investor Information – Webcasts).  A replay of the webcast will be made available at the same website address.  An audio replay of the call will be available until Wednesday, February 12, 2014, 11:59 p.m. (Central) by dialing 1-855-859-2056 or 1-404-537-3406 – Conference ID number 36780244. 

About HNI Corporation

HNI Corporation is a NYSE traded company (ticker symbol:  HNI) providing products and solutions for the home and workplace environments.  HNI Corporation is the second largest office furniture manufacturer in the world and is also the nation's leading manufacturer and marketer of gas- and wood-burning fireplaces.  The Corporation's strong brands, including HON®, Allsteel®, Gunlocke®, Paoli®, Maxon®, Lamex®, HBF® , artcobellTM, Midwest Folding ProductsTM, ERGO®, Heatilator®, Heat & Glo®, Quadra-Fire® and Harman StoveTM have leading positions in their markets.  HNI Corporation is committed to maintaining its long-standing corporate values of integrity, financial soundness and a culture of service and responsiveness.  More information can be found on the Corporation's website at www.hnicorp.com.

Non-GAAP Financial Measures

This earnings release contains certain non-GAAP financial measures.  A "non-GAAP financial measure" is a numerical measure of a company's financial performance that excludes or includes amounts different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets or statements of cash flow of the company.  We have provided a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measure.

The non-GAAP financial measures used within this earnings release are:  gross profit, selling and administrative expense, operating income, operating profit and net income per diluted share (i.e., EPS), excluding restructuring and impairment charges, transition costs and loss on sale of a business.  Non-GAAP EPS is calculated using the Corporation's overall effective tax rate for the period.  We present these measures because management uses this information to monitor and evaluate financial results and trends.  Management believes this information is also useful for investors.  This earnings release also contains a forward-looking estimate of non-GAAP earnings per diluted share for the first quarter and full fiscal year 2014.  We provide such non-GAAP measures to investors on a prospective basis for the same reasons we provide them to investors on a historical basis.  We are unable to provide a reconciliation of our forward-looking estimate of non-GAAP earnings per diluted share to a forward-looking estimate of GAAP earnings per diluted share because certain information needed to make a reasonable forward-looking estimate of GAAP earnings per diluted share for the full fiscal year is difficult to predict and estimate and is often dependent on future events which may be uncertain or outside of our control.  These may include unanticipated charges related to asset impairments (fixed assets, intangibles or goodwill), unanticipated acquisition related costs and other unanticipated non-recurring items not reflective of ongoing operations. 

Forward-looking Statements

This release contains "forward-looking" statements that refer to future events and expectations.  These statements address future plans, outlook, objectives and financial performance including expectations for future sales growth and earnings per diluted share (GAAP and non-GAAP) for the first quarter and full year fiscal 2014.  In addition, forward-looking statements may be identified by words such as "anticipate," "believe," "could," "confident," "estimate," "expect," "forecast," "hope," "intend," "likely," "may," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and variations of such words and similar expressions.  Forward-looking statements involve known and unknown risks, which may cause the Corporation's actual future results to differ materially from expected results.  These risks include, without limitation:  the Corporation's ability to realize financial benefits from its (a) price increases, (b) cost containment and business simplification initiatives, (c) investments in strategic acquisitions, new products and brand building, (d) investments in distribution and rapid continuous improvement, (e) ability to maintain its effective tax rate, (f) repurchases of common stock and (g) consolidation and logistical realignment initiatives; uncertainty related to the availability of cash and credit, and the terms and interest rates on which credit would be available, to fund operations and future growth; lower than expected demand for the Corporation's products due to uncertain political and economic conditions; slow or negative growth rates in global and domestic economies and the protracted decline in the domestic housing market; lower industry growth than expected; major disruptions at key facilities or in the supply of any key raw materials, components or finished goods; competitive pricing pressure from foreign and domestic competitors; higher than expected costs and lower than expected supplies of materials; higher costs for energy and fuel; changes in the mix of products sold and of customers purchasing; relationships with distribution channel partners, including the financial viability of distributors and dealers; restrictions imposed by the terms of the Corporation's revolving credit facility and note purchase agreement; currency fluctuations and other factors described in the Corporation's annual and quarterly reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q.  The Corporation undertakes no obligation to update, amend or clarify forward-looking statements.

 

HNI CORPORATION




Unaudited Condensed Consolidated Statement of Operations




 

(Dollars in thousands, except per share data)

Three Months Ended

Twelve Months Ended

Dec. 28,
2013

Dec. 29,
2012

Dec. 28,
2013

Dec. 29,
2012

Net Sales

$ 541,263

$  527,536

$2,059,964

$2,004,003

Cost of products sold

348,282

341,585

1,344,672

1,314,776

Gross profit

192,981

185,951

715,292

689,227

Selling and administrative expenses

155,237

155,046

608,972

599,656

Restructuring and impairment charges

97

583

333

1,944

Operating income

37,647

30,322

105,987

87,627

Interest income

158

232

626

842

Interest expense

1,687

2,684

9,906

10,865

Income before taxes

36,118

27,870

96,707

77,604

Income taxes

13,376

10,493

33,338

29,278

Net income

22,742

17,377

63,369

48,326

Less:  Net income (loss) attributable to the noncontrolling interest

(18)

(216)

(314)

(641)

Net income attributable to HNI Corporation

$22,760

$   17,593

$63,683

$   48,967

Net income attributable to HNI Corporation common shareholders – basic

$0.50

$0.39

$1.41

$1.08

Average number of common shares outstanding – basic

45,117,315

45,050,346

45,250,665

45,211,385

Net income attributable to HNI Corporation common shareholders – diluted

$0.50

$0.39

$1.39

$1.07

Average number of common shares outstanding – diluted 

45,964,128

45,691,600

45,956,280

45,819,979

 


Unaudited Condensed Consolidated Balance Sheet



Assets

     Liabilities and Shareholders' Equity


As of


As of

(Dollars in thousands)

Dec. 28,

2013

Dec. 29,
2012


Dec. 28,

2013

Dec. 29,
2012

Cash and cash equivalents

$ 65,030

$  41,782

     Accounts payable and



Short-term investments

7,251

7,250

        accrued expenses

$ 407,799

$  384,244

Receivables

228,715

213,490

     Note payable and current



Inventories

89,516

93,515

       maturities of long-term debt

484

4,554

Deferred income taxes

16,051

19,412

     Current maturities of other



Prepaid expenses and



       long-term obligations

3,301

373

  other current assets

26,665

26,926




      Current assets

433,228

402,375

          Current liabilities

411,584

389,171










     Long-term debt

150,091

150,146




     Capital lease obligations

106

226

Property and equipment  - net

267,401

240,490

     Other long-term liabilities

67,543

63,995

Goodwill

286,655

288,348

     Deferred income taxes

68,964

52,868

Other assets

147,421

145,853







     Parent Company shareholders'

        equity

436,328

420,359




     Noncontrolling interest

89

301




     Shareholders' equity

436,417

420,660




          Total liabilities and



     Total assets

$1,134,705

$1,077,066

            shareholders' equity

$1,134,705

$1,077,066


 

Unaudited Condensed Consolidated Statement of Cash Flows



(Dollars in thousands)

Twelve Months Ended

Dec. 28, 2013

Dec. 29, 2012

Net cash flows from (to) operating activities

$ 165,002

$ 144,777

Net cash flows from (to) investing activities:



     Capital expenditures

(78,895)

(60,270)

     Acquisition spending

0

(26,894)

     Other

3,476

1,351

Net cash flows from (to) financing activities

(66,335)

(89,994)

Net increase (decrease) in cash and cash equivalents

23,248

(31,030)

Cash and cash equivalents at beginning of period

41,782

72,812

Cash and cash equivalents at end of period

$ 65,030

$  41,782

 

Business Segment Data




(Dollars in thousands)

Three Months Ended

Twelve Months Ended

Dec. 28, 2013

Dec. 29, 2012

Dec. 28, 2013

Dec. 29, 2012

Net sales:





  Office furniture

$ 416,991

$ 422,349

$ 1,685,205

$ 1,687,302

  Hearth products

124,272

105,187

374,759

316,701


$ 541,263

$ 527,536

$ 2,059,964

$2,004,003






Operating profit:





  Office furniture





     Operations before restructuring and impairment charges

$ 25,913

$ 24,086

$97,672

$ 93,793

     Restructuring and impairment charges

(97)

(583)

(333)

(1,944)

        Office furniture  - net

25,816

23,503

97,339

91,849

  Hearth products

22,963

15,411

46,662

26,477

  Total operating profit

48,779

38,914

144,001

118,326

      Unallocated corporate expense

(12,661)

(11,044)

(47,294)

(40,722)

  Income before income taxes

$36,118

$ 27,870

$ 96,707

$ 77,604






Depreciation and amortization expense:





  Office furniture

$9,608

$ 9,068

$ 36,992

$ 34,491

  Hearth products

1,249

1,438

5,288

5,957

  General corporate

1,194

749

4,341

2,911


$12,051

$11,255

$46,621

$ 43,359






Capital expenditures (including capitalized software)





  Office furniture

$ 12,552

$ 10,874

$ 51,954

$ 36,080

  Hearth products

652

536

4,220

2,008

  General corporate

6,102

4,201

22,721

22,182


$19,306

$ 15,611

$78,895

$ 60,270









As of

As of




Dec. 28, 2013

Dec. 29, 2012

Identifiable assets:





  Office furniture



$ 722,697

$ 700,665

  Hearth products



255,978

254,835

  General corporate



156,030

121,566




$ 1,134,705

$ 1,077,066

 

 

For Information Contact:
Matthew D. McGough, Vice President, Corporate Finance (563) 272-7563
Kurt A. Tjaden, Vice President and Chief Financial Officer (563) 272-7400

 

SOURCE HNI Corporation

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.

Latest Stories
As pervasive as cloud technology is -- and as persuasive as the arguments are for using it -- the cloud has its limits. Some companies will always have security concerns about storing data in the cloud and certain high-transaction applications will always be better suited for on-premises storage. Those statements were among the bottom-line takeaways delivered at Cloud Expo this week, a three day, bi-annual event focused on cloud technologies, adoption and associated challenges.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
“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.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...