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Macerich Announces Adjusted Funds From Operations Per Share Increases 11% For 2013

SANTA MONICA, Calif., Feb. 4, 2014 /PRNewswire/ -- The Macerich Company (NYSE Symbol: MAC) today announced results of operations for the quarter ended December 31, 2013 which included adjusted funds from operations ("AFFO")  diluted of $140.6 million or $.94 per share-diluted compared to $132.6 million or $.90 per share-diluted for the quarter ended December 31, 2012.   Net income attributable to the Company was $144.9 million or $1.03 per share-diluted for the quarter ended December 31, 2013 compared to net income attributable to the Company for the quarter ended December 31, 2012 of $174.3 million or $1.27 per share-diluted.  AFFO diluted for the year ended December 31, 2013 was $527.6 million or $3.53 per share-diluted compared to $460.9 million or $3.18 per share-diluted for the year ended December 31, 2012.   Net income attributable to the Company was $420.1 million or $3.00 per share-diluted for the year ended December 31, 2013 compared to net income attributable to the Company for the year ended December 31, 2012 of $337.4 million or $2.51 per share-diluted.  A description and reconciliation of funds from operations ("FFO") per share-diluted and AFFO per share-diluted to EPS-diluted is included in the financial tables accompanying this press release.

Recent Highlights

  • Mall portfolio tenant annual sales per square foot were $562 for 2013 compared to $517 for 2012.
  • The releasing spreads for the year were up 17.2%.
  • Mall portfolio occupancy was 94.6% at December 31, 2013 compared to 93.8% at December 31, 2012.
  • AFFO per share-diluted for the year was $3.53, up 11% compared to the year ended December 31, 2012.
  • The Company recently sold four non-core malls with its pro rata share of the gross sales proceeds totaling $332 million

Commenting on the quarter and recent activity, Arthur Coppola chairman and chief executive officer of Macerich stated, "It was another strong quarter and year for us.  Our fundamentals were very good as evidenced by an occupancy level over 94%, solid releasing spreads and strong year over year same center net operating income growth.  In addition, we continued to execute our strategy of refining and improving the quality of our portfolio with the sale of four additional non-core assets."

Disposition Activity:

The Company continued the refinement of its portfolio with the sale of four non-core assets.  Ridgmar Mall in Fort Worth, Texas was sold on October 8, 2013. On December 11, 2013, Chesterfield Towne Center in Richmond, Virginia and Salisbury Centre in Salisbury, Maryland were sold.  Rotterdam Square in Schenectady, New York was sold on January 15, 2014.  The average annual sales per-square-foot for these malls was $317.  The Company's pro rata share of the total gross sales proceeds from the sale of these assets was $332 million.  The Company's pro rata share of proceeds from non-core assets sold since the beginning of 2013 totals $864 million.  The FFO per share dilution in 2013 from the 2013 asset sales was $.12.

2014 Earnings Guidance:

Management is providing fully diluted EPS and FFO per share guidance for 2014.

A reconciliation of estimated EPS to FFO per share-diluted follows:




2014 range

Fully diluted EPS

$ .98  -  $1.08

Plus: real estate depreciation and amortization 

2.62  -    2.62

Less: gain on sale of dispositions 

( .10)  -   ( .10)

Fully diluted FFO per share 

$3.50  -  $3.60

This guidance assumes asset sales in the range of $225 million to $275 million during the first half of 2014.  The 2014 guidance includes FFO per share dilution of $.08 from those asset sales plus $.16 of dilution from the assets sold in 2013.   The above guidance range reflects same center EBITDA growth of 3.75% to 4.25% for 2014.  There have been no acquisitions factored into the guidance and there has not been any gain or loss on early extinguishment of debt included in the guidance estimate.

Macerich, an S&P 500 company, currently celebrating 20 years of trading on the NYSE, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.

Macerich currently owns 56 million square feet of real estate consisting primarily of interests in 54 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in California, Arizona, Chicago and the Greater New York Metro area. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.

Investor Conference Call

The Company will provide an online Web simulcast and rebroadcast of its quarterly earnings conference call.  The call will be available on The Macerich Company's website at www.macerich.com (Investing Section) and through CCBN at www.earnings.com.  The call begins Wednesday, February 5, 2014 at 10:30 Pacific Time. To listen to the call, please go to any of these websites at least 15 minutes prior to the call in order to register and download audio software if needed. An online replay at www.macerich.com (Investing Section) will be available for one year after the call. 

The Company will publish a supplemental financial information package which will be available at www.macerich.com in the Investing Section.  It will also be furnished to the SEC as part of a Current Report on Form 8-K.

Note:  This release contains statements that constitute forward-looking statements which can be identified by the use of words, such as  "expects," "anticipates," "assumes," "projects," "estimated" and "scheduled" and similar expressions that do not relate to historical matters. Stockholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to vary materially from those anticipated, expected or projected.  Such factors include, among others, general industry, as well as national, regional and local economic and business conditions, which will, among other things, affect demand for retail space or retail goods, availability and creditworthiness of current and prospective tenants, anchor or tenant bankruptcies, closures, mergers or consolidations, lease rates, terms and payments, interest rate fluctuations, availability, terms and cost of financing and operating expenses; adverse changes in the real estate markets including, among other things, competition from other companies, retail formats and technology, risks of real estate development and redevelopment, acquisitions and dispositions; the liquidity of real estate investments, governmental actions and initiatives (including legislative and regulatory changes); environmental and safety requirements; and terrorist activities or other acts of violence which could adversely affect all of the above factors.  The reader is directed to the Company's various filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2012, for a discussion of such risks and uncertainties, which discussion is incorporated herein by reference. The Company does not intend, and undertakes no obligation, to update any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events unless required by law to do so.

 (See attached tables)






THE MACERICH COMPANY

FINANCIAL HIGHLIGHTS

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)















Results of Operations:








Results before 

Impact of 

Results after 


Discontinued Operations (a)

Discontinued Operations (a)

Discontinued Operations (a)


For the Three Months

For the Three Months

For the Three Months


Ended December 31,

Ended December 31,

Ended December 31,


Unaudited

Unaudited

Unaudited


2013

2012

2013

2012

2013

2012

Minimum rents 

$159,967

$140,157

($4,349)

($13,139)

$155,618

$127,018

Percentage rents   

13,107

12,451

(561)

(1,357)

12,546

11,094

Tenant recoveries

92,138

75,518

(2,223)

(6,507)

89,915

69,011

Management Companies' revenues

9,001

10,505

-

-

9,001

10,505

Other income

15,249

12,534

(192)

(955)

15,057

11,579

     Total revenues

289,462

251,165

(7,325)

(21,958)

282,137

229,207








Shopping center and operating  expenses 

91,643

82,275

(2,482)

(7,519)

89,161

74,756

Management Companies' operating  expenses 

24,459

18,657

-

-

24,459

18,657

REIT general and administrative expenses 

9,099

5,187

-

-

9,099

5,187

Depreciation and amortization 

95,061

85,004

(1,929)

(6,414)

93,132

78,590

Interest expense  

49,941

48,335

(2,353)

(4,081)

47,588

44,254

Loss on extinguishment of debt, net

655

32

(149)

(32)

506

-

     Total expenses

270,858

239,490

(6,913)

(18,046)

263,945

221,444

Equity in income of unconsolidated joint ventures 

22,103

10,657

-

-

22,103

10,657

Co-venture expense (b)

(2,633)

(2,061)

-

-

(2,633)

(2,061)

Income tax (expense) benefit 

(572)

1,999

-

-

(572)

1,999

Gain (loss) on remeasurement, sale or write down of assets, net

113,287

164,025

(152,418)

24,626

(39,131)

188,651

     Income (loss) from continuing operations

150,789

186,295

(152,830)

20,714

(2,041)

207,009








Discontinued operations:







     Gain (loss) on sale, disposition or write down of assets, net

-

-

152,269

(24,658)

152,269

(24,658)

     Income from discontinued operations

-

-

561

3,944

561

3,944

     Total income (loss) from discontinued operations

-

-

152,830

(20,714)

152,830

(20,714)








Net income 

150,789

186,295

-

-

150,789

186,295

Less net income attributable to noncontrolling interests

5,911

12,048

-

-

5,911

12,048

Net income attributable to the Company

$144,878

$174,247

$0

$0

$144,878

$174,247








Average number of shares outstanding - basic

140,724

136,975



140,724

136,975

Average shares outstanding, assuming full conversion of OP Units  (c)

150,348

147,254



150,348

147,254

Average shares outstanding - Funds From Operations ("FFO") - diluted (c) 

150,375

147,254



150,375

147,254








Per share income - diluted before discontinued operations

-

-



$0.01

$1.41

Net income per share-basic 

$1.03

$1.27



$1.03

$1.27

Net income per share - diluted  

$1.03

$1.27



$1.03

$1.27

Dividend declared per share 

$0.62

$0.58



$0.62

$0.58

FFO - basic  (c) (d)

$140,624

$132,577



$140,624

$132,577

FFO - diluted (c) (d)

$140,624

$132,577



$140,624

$132,577

FFO per share- basic   (c) (d)

$0.94

$0.90



$0.94

$0.90

FFO per share- diluted  (c) (d)

$0.94

$0.90



$0.94

$0.90

Adjusted FFO ("AFFO") per share- diluted  (c)(d)

$0.94

$0.90



$0.94

$0.90










THE MACERICH COMPANY

FINANCIAL HIGHLIGHTS

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)















Results of Operations:








Results before 

Impact of 

Results after 


Discontinued Operations (a)

Discontinued Operations (a)

Discontinued Operations (a)


For the Twelve Months

For the Twelve Months 

For the Twelve Months 


Ended December 31,

Ended December 31,

Ended December 31,


Unaudited

Unaudited

Unaudited


2013

2012

2013

2012

2013

2012

Minimum rents 

$611,888

$503,130

($33,775)

($55,809)

$578,113

$447,321

Percentage rents   

24,594

24,731

(1,438)

(3,343)

23,156

21,388

Tenant recoveries

355,625

276,827

(17,853)

(29,234)

337,772

247,593

Management Companies' revenues

40,192

41,235

-

-

40,192

41,235

Other income

51,928

46,000

(1,686)

(6,020)

50,242

39,980

     Total revenues

1,084,227

891,923

(54,752)

(94,406)

1,029,475

797,517








Shopping center and operating  expenses 

349,225

285,589

(19,430)

(33,666)

329,795

251,923

Management Companies' operating  expenses 

93,461

85,610

-

-

93,461

85,610

REIT general and administrative expenses 

27,772

20,412

-

-

27,772

20,412

Depreciation and amortization 

374,425

307,193

(17,260)

(29,572)

357,165

277,621

Interest expense  

211,787

183,148

(14,540)

(18,756)

197,247

164,392

Gain on extinguishment of debt, net

(2,684)

(119,926)

1,252

119,926

(1,432)

-

     Total expenses

1,053,986

762,026

(49,978)

37,932

1,004,008

799,958

Equity in income of unconsolidated joint ventures 

167,580

79,281

-

-

167,580

79,281

Co-venture expense (b)

(8,864)

(6,523)

-

-

(8,864)

(6,523)

Income tax benefit 

1,692

4,159

-

-

1,692

4,159

Gain (loss) on remeasurement, sale or write down of assets, net

258,310

159,575

(285,162)

69,115

(26,852)

228,690

     Income from continuing operations

448,959

366,389

(289,936)

(63,223)

159,023

303,166








Discontinued operations:







     Gain on sale, disposition or write down of assets, net

-

-

286,414

50,811

286,414

50,811

     Income from discontinued operations

-

-

3,522

12,412

3,522

12,412

     Total income from discontinued operations

-

-

289,936

63,223

289,936

63,223








Net income 

448,959

366,389

-

-

448,959

366,389

Less net income attributable to noncontrolling interests

28,869

28,963

-

-

28,869

28,963

Net income attributable to the Company

$420,090

$337,426

$0

$0

$420,090

$337,426








Average number of shares outstanding - basic

139,598

134,067



139,598

134,067

Average shares outstanding, assuming full conversion of OP Units  (c)

149,444

144,937



149,444

144,937

Average shares outstanding - Funds From Operations ("FFO") - diluted (c) 

149,526

144,937



149,526

144,937








Per share income - diluted before discontinued operations

-

-



$1.06

$2.07

Net income per share-basic 

$3.01

$2.51



$3.01

$2.51

Net income per share - diluted  

$3.00

$2.51



$3.00

$2.51

Dividend declared per share 

$2.36

$2.23



$2.36

$2.23

FFO - basic  (c) (d)

$527,574

$577,862



$527,574

$577,862

FFO - diluted (c) (d)

$527,574

$577,862



$527,574

$577,862

FFO per share- basic   (c) (d)

$3.53

$3.99



$3.53

$3.99

FFO per share- diluted  (c) (d)

$3.53

$3.99



$3.53

$3.99

Adjusted FFO ("AFFO") per share- diluted  (c)(d)

$3.53

$3.18



$3.53

$3.18















THE MACERICH COMPANY


FINANCIAL HIGHLIGHTS


(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

















 (a)

The Company has classified the results of operations on dispositions as discontinued operations for the three and twelve months ended December 31, 2013 and 2012.









 (b)

This represents the outside partners' allocation of net income in the Chandler Fashion Center/Freehold Raceway Mall joint venture.









 (c)

The Macerich Partnership, L.P. (the "Operating Partnership" or the "OP") has operating partnership units ("OP units"). OP units can be converted into shares of Company common stock. Conversion of the OP units not owned by the Company has been assumed for purposes of calculating FFO per share and the weighted average number of shares outstanding. The computation of average shares for FFO - diluted includes the effect of share and unit-based compensation plans, stock warrants and convertible senior notes using the treasury stock method. It also assumes conversion of MACWH, LP preferred and common units to the extent they are dilutive to the calculation.









 (d)

The Company uses FFO in addition to net income to report its operating and financial results and considers FFO and FFO-diluted as supplemental measures for the real estate industry and a supplement to Generally Accepted Accounting Principles ("GAAP") measures. The National Association of Real Estate Investment Trusts ("NAREIT") defines FFO as net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from extraordinary items and sales of depreciated operating properties, plus real estate related depreciation and amortization, impairment write-downs of real estate and write-downs of investments in an affiliate where the write-downs have been driven by a decrease in the value of real estate held by the affiliate and after adjustments for unconsolidated joint ventures. Adjustments for unconsolidated joint ventures are calculated to reflect FFO on the same basis.






Adjusted FFO ("AFFO") excludes the FFO impact of Shoppingtown Mall and Valley View Center for the three and twelve months ended December 31, 2012. In December 2011, the Company conveyed Shoppingtown Mall to the lender by a deed-in-lieu of foreclosure. In July 2010, a court-appointed receiver assumed operational control of Valley View Center and responsibility for managing all aspects of the property. Valley View Center was sold by the receiver on April 23, 2012, and the related non-recourse mortgage loan obligation was fully extinguished on that date. On May 31, 2012, the Company conveyed Prescott Gateway to the lender by a deed-in-lieu of foreclosure and the debt was forgiven resulting in a gain on extinguishment of debt of $16.3 million. AFFO also excludes the gain on extinguishment of debt on Prescott Gateway for the twelve months ended December 31, 2012.






FFO and FFO on a diluted basis are useful to investors in comparing operating and financial results between periods. This is especially true since FFO excludes real estate depreciation and amortization, as the Company believes real estate values fluctuate based on market conditions rather than depreciating in value ratably on a straight-line basis over time. The Company believes that AFFO and AFFO on a diluted basis provide useful supplemental information regarding the Company's performance as they show a more meaningful and consistent comparison of the Company's operating performance and allow investors to more easily compare the Company's results without taking into account non-cash credits and charges on properties controlled by either a receiver or loan servicer. FFO and AFFO on a diluted basis are measures investors find most useful in measuring the dilutive impact of outstanding convertible securities. FFO and AFFO do not represent cash flow from operations as defined by GAAP, should not be considered as an alternative to net income (loss) as defined by GAAP, and are not indicative of cash available to fund all cash flow needs. The Company also cautions that FFO and AFFO as presented, may not be comparable to similarly titled measures reported by other real estate investment trusts.








THE MACERICH COMPANY


FINANCIAL HIGHLIGHTS


(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)


















Reconciliation of Net income attributable to the Company to FFO and AFFO (d):










 For the Three
Months 

 For the Twelve
Months





Ended December 31,

Ended December 31,





 Unaudited 

 Unaudited 





2013

2012

2013

2012



Net income attributable to the Company


$144,878

$174,247

$420,090

$337,426











Adjustments to reconcile net income attributable to the Company to FFO - basic and diluted:







   Noncontrolling interests in OP


10,033

13,784

29,637

27,359



   Gain on remeasurement, sale or write down of consolidated assets, net


(113,287)

(164,025)

(258,310)

(159,575)



        plus gain (loss) on undepreciated asset sales - consolidated assets


308

(390)

2,546

(390)



        plus non-controlling interests share of (loss) gain on remeasurement, sale or write down of consolidated joint ventures, net


(5,245)

(1,636)

(2,082)

1,899



   (Gain) loss on remeasurement, sale or write down of assets from unconsolidated entities (pro rata), net


(3,295)

9,273

(94,372)

(2,019)



        plus gain on undepreciated asset sales - unconsolidated entities (pro rata)


169

1,163

602

1,163



   Depreciation and amortization on consolidated assets 


95,061

85,004

374,425

307,193



   Less depreciation and amortization allocable to noncontrolling interests on consolidated joint ventures


(5,514)

(4,609)

(19,928)

(18,561)



   Depreciation and amortization on joint ventures (pro rata) 


20,396

22,991

86,866

96,228



   Less: depreciation on personal property 


(2,880)

(3,225)

(11,900)

(12,861)



Total FFO - basic and diluted


$140,624

$132,577

$527,574

$577,862











Additional adjustments to arrive at AFFO - diluted (d):








    Shoppingtown Mall


-

25

-

422



    Valley View Center


-

11

-

(101,105)



    Prescott Gateway


-

-

-

(16,296)



Total AFFO- diluted


$140,624

$132,613

$527,574

$460,883



















Reconciliation of EPS to FFO and AFFO per diluted share (d):










 For the Three
Months

 For the Twelve
Months





Ended December 31,

Ended December 31,





 Unaudited 

 Unaudited 





2013

2012

2013

2012



Earnings per share - diluted


$1.03

$1.27

$3.00

$2.51



   Per share impact of depreciation and amortization of real estate


0.72

0.68

2.88

2.57



   Per share impact of gain on remeasurement, sale or write down of assets


(0.81)

(1.05)

(2.35)

(1.09)



FFO per share - diluted


$0.94

$0.90

$3.53

$3.99



   Per share impact - Shoppingtown Mall, Valley View Center and Prescott Gateway 

0.00

0.00

0.00

(0.81)



AFFO per share - diluted


$0.94

$0.90

$3.53

$3.18











THE MACERICH COMPANY


FINANCIAL HIGHLIGHTS


(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)




















 For the Three
Months

 For the Twelve
Months



Reconciliation of Net income attributable to the Company to EBITDA:


Ended December 31,

Ended December 31,





 Unaudited 

 Unaudited 





2013

2012

2013

2012











Net income attributable to the Company


$144,878

$174,247

$420,090

$337,426











   Interest expense - consolidated assets


49,941

48,335

211,787

183,148



   Interest expense - unconsolidated entities (pro rata)


17,330

21,419

69,224

97,978



   Depreciation and amortization - consolidated assets


95,061

85,004

374,425

307,193



   Depreciation and amortization - unconsolidated entities (pro rata)


20,396

22,991

86,866

96,228



   Noncontrolling interests in OP


10,033

13,784

29,637

27,359



   Less: Interest expense and depreciation and amortization allocable to noncontrolling interests on consolidated joint ventures


(8,387)

(7,408)

(31,397)

(30,019)



   Loss (gain) on extinguishment of debt - consolidated entities


655

32

(2,684)

(119,926)



   Gain on extinguishment of debt - unconsolidated entities (pro rata)


-

-

(352)

-



   Gain on remeasurement, sale or write down of assets - consolidated assets, net


(113,287)

(164,025)

(258,310)

(159,575)



   (Gain) loss on remeasurement, sale or write down of assets - unconsolidated entities (pro rata), net

(3,295)

9,273

(94,372)

(2,019)



   Add: Non-controlling interests share of  (loss) gain on sale of consolidated assets, net

(5,245)

(1,636)

(2,082)

1,899



   Income tax expense (benefit)


572

(1,999)

(1,692)

(4,159)



   Distributions on preferred units


184

184

735

783











EBITDA (e)


$208,836

$200,201

$801,875

$736,316



























Reconciliation of EBITDA to Same Centers - Net Operating Income ("NOI"):


















 For the Three
Months 

 For the Twelve
Months





Ended December 31,

Ended December 31,





 Unaudited 

 Unaudited 





2013

2012

2013

2012



EBITDA (e)


$208,836

$200,201

$801,875

$736,316











Add: REIT general and administrative expenses


9,099

5,187

27,772

20,412



        Management Companies' revenues


(9,001)

(10,505)

(40,192)

(41,235)



        Management Companies' operating  expenses 


24,459

18,657

93,461

85,610



        Lease termination income, straight-line and above/below market adjustments 








          to minimum rents of comparable centers


(1,823)

(3,753)

(10,979)

(17,178)



        EBITDA of non-comparable centers


(40,119)

(27,311)

(142,310)

(83,121)











Same Centers - NOI (f)


$191,451

$182,476

$729,627

$700,804


















(e)

EBITDA represents earnings before interest, income taxes, depreciation, amortization, noncontrolling interests, extraordinary items, gain (loss) on remeasurement, sale or write down of assets and preferred dividends and includes joint ventures at their pro rata share. Management considers EBITDA to be an appropriate supplemental measure to net income because it helps investors understand the ability of the Company to incur and service debt and make capital expenditures. EBITDA should not be construed as an alternative to operating income as an indicator of the Company's operating performance, or to cash flows from operating activities (as determined in accordance with GAAP) or as a measure of liquidity. EBITDA, as presented, may not be comparable to similarly titled measurements reported by other companies.









(f)

The Company presents same center NOI because the Company believes it is useful for investors to evaluate the operating performance of comparable centers. Same center NOI is calculated using total EBITDA and subtracting out EBITDA from non-comparable centers and eliminating the management companies and the Company's general and administrative expenses. Same center NOI excludes the impact of lease termination income and straight-line and above/below market adjustments to minimum rents.

 

 

 

SOURCE The Macerich Company

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@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International 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 wait for long developm...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, discussed the best practices that will ensure a successful smart city journey.
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, discussed how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He also discussed how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors an...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet and...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of D...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...