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Regal Beloit Corporation Announces Fourth Quarter and Fiscal 2013 Financial Results

- Sales and Adjusted Income from Operations* Grew in the Fourth Quarter

BELOIT, Wis., Feb. 10, 2014 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC) today reported financial results for the fourth quarter and fiscal 2013. Net sales for the fourth quarter 2013 were $727.3 million compared to $715.6 million for the fourth quarter 2012.  Net income (loss) for the fourth quarter 2013 was $(33.2) million compared to $29.9 million for the fourth quarter 2012.  Included in the fourth quarter 2013 results were goodwill and intangible asset impairments and other related items of $81.0 million, or $74.7 million after tax.  Diluted earnings (loss) per share for the fourth quarter 2013 were $(0.74), including the impact of $1.65 per share of the goodwill and intangible asset impairments and other related items and the higher share count, compared to $0.70 for the fourth quarter of 2012.  Adjusted diluted earnings per share of the fourth quarter 2013 were $0.97 compared to $0.76 for the fourth quarter of 2012.

Net sales for fiscal 2013 were $3,095.7 million compared to $3,166.9 million in 2012.  Diluted earnings per share for fiscal 2013 were $2.64 compared to $4.64 in 2012.  Adjusted diluted earnings per share for fiscal 2013 were $4.36 compared to $4.73 in 2012.  

"Regal ended the year with strong performance in the fourth quarter.  We had modest revenue growth and double digit growth in adjusted earnings," stated Mark Gliebe, Chairman and CEO"We experienced revenue growth in our North American residential HVAC, power generation, oil and gas and China based businesses, which offset weaker revenue in our North American commercial & industrial motors and our India and Australia based businesses.  Our operating teams delivered to our expectations and on an adjusted basis we exceeded our overall earnings guidance as a result of a $0.12 per share unanticipated tax benefit."

ADJUSTED DILUTED EARNINGS PER SHARE*


First Quarter


Second Quarter


Third Quarter


Fourth Quarter


Fiscal Year

2013 GAAP Diluted Earnings (Loss) Per Share


$          1.09


$                1.13


$            1.16


$             (0.74)


$        2.64

Asset Impairments and Other, Net of Taxes





1.65


1.65

Purchase Accounting and Transaction Costs





0.02


0.02

Restructuring Costs


0.01


0.02


0.02


0.04


0.09

Tax Benefit Recorded Attributable to Prior Year


(0.02)


(0.02)




(0.04)

2013 Adjusted Diluted Earnings Per Share


$          1.08


$                1.13


$            1.18


$              0.97


$        4.36

2012 Adjusted Diluted Earnings Per Share


$          1.15


$                1.50


$            1.32


$              0.76


$        4.73

*This earnings release includes non-GAAP financial measures.  Schedules that describe why we believe these non-GAAP measures are useful and reconcile these non-GAAP financial measures to the most comparable GAAP figures are included with this earnings release.

NET SALES


(Dollars In Millions)





Three Months Ended


Twelve Months Ended





Dec 28,
2013


Dec 29,
2012


% Change


Dec 28,
2013


Dec 29,
2012


% Change

Net Sales


$        727.3


$ 715.6


1.6 %


$      3,095.7


$ 3,166.9


(2.2)%














Net Sales by Segment:













  Electrical segment


664.9


646.9


2.8 %


2,836.7


2,870.2


(1.2)%

  Mechanical segment


62.4


68.7


(9.2)%


259.0


296.7


(12.7)%

 

Electrical segment net sales in the fourth quarter 2013 included $9.3 million from businesses acquired within the last year (acquired businesses).  North American residential HVAC net sales increased 4.8% for the fourth quarter 2013 compared to the fourth quarter 2012.  North American commercial and industrial motor net sales decreased 3.5%, of which 1.2% was related to the expiration of our supply agreement with the purchaser of our divested pool and spa business.  For the fiscal year, Electrical segment net sales included $27.3 million from the acquired businesses. 

Mechanical segment net sales in North America decreased 6.7% for the fourth quarter 2013 primarily related to lower sales to the natural gas fracturing end market.  In fiscal 2013, Mechanical segment net sales included an incremental $3.4 million over fiscal 2012 from the business acquired in February 2012.

Fourth quarter 2013 net sales to regions outside the United States increased 1.0% compared to fourth quarter 2012 and represented 36.3% of total net sales.  Fiscal 2013 net sales to regions outside the United States represented 34.1% of total net sales.  Foreign currency exchange rates negatively impacted total net sales by 0.9% and international sales by 2.5% for the fourth quarter 2013 compared to the fourth quarter 2012.  For fiscal 2013, foreign currency exchange rates negatively impacted total net sales by 0.9% and international sales by 2.7% compared to fiscal 2012.

In the fourth quarter 2013, sales of high efficiency products represented 22.1% of net sales.  Fiscal 2013 sales of high efficiency products represented 20.6% of net sales. 

GROSS PROFIT


(Dollars in Millions)



Three Months Ended


Twelve Months Ended



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

Gross Profit


$  178.0


$160.7


$ 783.2


$   771.0

    As a percentage of net sales


24.5 %


22.5 %


25.3 %


24.3 %










Gross Profit









  Electrical segment


$   161.5


$142.4


$ 714.4


$    691.7

    As a percentage of net sales


24.3 %


22.0 %


25.2 %


24.1 %

  Mechanical segment


$    16.5


$  18.3


$   68.8


$      79.3

    As a percentage of net sales


26.4 %


26.6 %


26.6 %


26.7 %

 

Electrical segment gross profit for the fourth quarter 2013 included $2.7 million of restructuring expenses, $0.8 million of purchase accounting adjustments as well as LIFO expense of $2.8 million.  Fourth quarter 2012 Electrical segment gross profit included $3.6 million of restructuring expense and a minimal LIFO impact.  Fiscal 2013 Electrical segment gross profit included $5.4 million of restructuring expenses, a $3.6 million charge due to the Venezuelan currency devaluation, $0.8 million of purchase accounting adjustments, and a $2.3 million LIFO benefit.  Fiscal 2012 Electrical segment gross profit included $6.9 million of restructuring charges.  

Mechanical segment gross profit for the fourth quarter 2013 included $0.3 million LIFO expense.   Fiscal 2013 Mechanical segment gross profit included $0.5 million LIFO expense.   Fiscal 2012 Mechanical segment gross profit included $0.7 million purchase accounting adjustments related to the acquired business.

OPERATING EXPENSES


(Dollars in Millions)



Three Months Ended


Twelve Months Ended



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

Operating Expenses


$124.8


$113.6


$ 494.2


$    458.2

    As a percentage of net sales


17.2 %


15.9 %


16.0 %


14.5 %










Operating Expenses by Segment









  Electrical segment


$115.1


$102.8


$ 456.9


$   418.0

    As a percentage of net sales


17.3 %


15.9 %


16.1 %


14.6 %

  Mechanical segment


$    9.7


$  10.8


$   37.3


$      40.2

    As a percentage of net sales


15.5 %


15.7 %


14.4 %


13.5 %

 

For the fourth quarter 2013, Electrical segment operating expenses included $0.9 million incremental expenses from the acquired businesses and $0.8 million of transaction related costs.  Electrical segment operating expenses for the fourth quarter 2012 included $0.3 million of restructuring expense.  Fiscal 2013 Electrical segment operating expenses included $1.8 million incremental expenses from the acquired businesses, $3.9 million of transaction related costs, and $0.8 million of restructuring costs.  Fiscal 2012 Electrical segment operating expenses included $2.7 million of restructuring expense.

Fiscal 2013 Mechanical segment operating expenses included $0.3 million incremental operating expenses from the acquired business.  Fiscal 2012 Mechanical segment operating expenses included a $1.3 million gain from the sale of surplus real estate.

INCOME (LOSS) FROM OPERATIONS


(Dollars in Millions)



Three Months Ended


Twelve Months Ended



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

Income (Loss) from Operations


$    (27.8)


$            47.1


$  208.0


$    312.8

    As a percentage of net sales


(3.8)%


6.6 %


6.7 %


9.9 %










Income (Loss) from Operations by Segment









  Electrical segment


$    (22.5)


$            39.6


$   188.6


$    273.7

    As a percentage of net sales


(3.4)%


6.1 %


6.6 %


9.5 %

  Mechanical segment


$      (5.3)


$             7.5


$    19.4


$      39.1

    As a percentage of net sales


(8.5)%


10.9 %


7.5 %


13.2 %

 

Fourth quarter 2013 and fiscal 2013 income (loss) from operations included an $81.0 million expense for goodwill and intangible asset impairments and other related items of which $68.9 million is attributable to the Electrical segment and $12.1 million is attributable to the Mechanical segment.   The effective tax rate for the fourth quarter 2013 was a tax benefit of 10.1% compared to a 15.6% provision for the fourth quarter of 2012.  The change in the fourth quarter effective tax rate was primarily driven by a $6.4 million tax benefit from asset impairments and other related items.  The fourth quarter earnings also benefited from favorable tax adjustments related to the global distribution of earnings and changes in the Mexican tax code enacted in December 2013 totaling $5.3 million ($0.12 EPS), which were not included in the Company's 18% effective tax rate guidance for the fourth quarter.  The fiscal 2013 effective tax rate was 26.1% compared to 25.8% for fiscal 2012. 

For the fourth quarter 2013, net cash provided by operating activities was $64.7 million. For the fourth quarter 2013, free cash flow represented 118.8% of adjusted net income.   Fiscal 2013 net cash provided by operating activities was $305.0 million and free cash flow represented 115.1% of adjusted net income.

"Our first quarter guidance includes our typical seasonality in residential HVAC, modest growth in our commercial and industrial motors businesses and continued growth in both our China and global power generation businesses.  We expect our markets in India and Australia to remain challenged," stated Mark Gliebe.  "While we anticipate modest overall revenue growth in the first quarter, we project margin headwinds that we expect to moderate by the end of the second quarter.  We expect first quarter diluted earnings per share to be $0.90 to $0.98.  Adding back $0.09 of restructuring charges and purchase accounting, adjusted diluted earnings per share is expected to be $0.99 to $1.07."

Regal management will hold a conference call to discuss the earnings release at 9:00 AM CST (10:00 AM EST) on Tuesday, February 11, 2014.  Individuals who would like to participate by phone should dial 888-317-6003 and enter pin number 6649148 when prompted.  International callers should dial 412-317-6061 and enter pin number 6649148 when prompted.  To view the presentation during the call, please follow this link to Regal's Investors page: http://investors.regalbeloit.com/phoenix.zhtml?c=116222&p=irol-presentations.

To listen to the live audio and view the presentation via the internet, please go to:  http://www.videonewswire.com/event.asp?id=97525.

A telephone replay of the call will be available through May 12, 2014, at 877-344-7529, conference ID 10038737.  International callers should call 412-317-0088 using the same conference ID.  A webcast replay will be available until May 12, 2014, and can be accessed at http://investors.regalbeloit.com/phoenix.zhtml?c=116222&p=irol-calendarPast or at http://www.videonewswire.com/event.asp?id=97525.

Regal Beloit Corporation is a leading manufacturer of electric motors, mechanical and electrical motion controls and power generation products serving markets throughout the world.  Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing, sales and service facilities throughout the United States, Canada, Mexico, Europe and Asia.  Regal Beloit's common stock is a component of the S&P Mid Cap 400 Index and the Russell 2000 Index.

CAUTIONARY STATEMENT

The following is a cautionary statement made under the Private Securities Litigation Reform Act of 1995: With the exception of historical facts, the statements contained in this press release may be forward looking statements.  Forward-looking statements represent our management's judgment regarding future events.  In many cases, you can identify forward-looking statements by terminology such as "may," "will,"  "plan," "expect," "anticipate," "estimate," "believe," or "continue" or the negative of these terms or other similar words.  Actual results and events could differ materially and adversely from those contained in the forward-looking statements due to a number of factors, including: uncertainties regarding our ability to execute our restructuring plans within expected costs and timing; actions taken by our competitors and our ability to effectively compete in the increasingly competitive global electric motor, power generation and mechanical motion control industries; our ability to develop new products based on technological innovation and the marketplace acceptance of new and existing products; fluctuations in commodity prices and raw material costs; our dependence on significant customers; issues and costs arising from the integration of acquired companies and businesses, including the timing and impact of purchase accounting adjustments; unanticipated costs or expenses we may incur related to product warranty issues; our dependence on key suppliers and the potential effects of supply disruptions; infringement of our intellectual property by third parties, challenges to our intellectual property, and claims of infringement by us of third party technologies; increases in our overall debt levels as a result of acquisitions or otherwise and our ability to repay principal and interest on our outstanding debt; product liability and other litigation, or the failure of our products to perform as anticipated, particularly in high volume applications; economic changes in global markets where we do business, such as reduced demand for the products we sell, currency exchange rates, inflation rates, interest rates, recession, foreign government policies and other external factors that we cannot control; unanticipated liabilities of acquired businesses; affect on earnings of any significant impairment of goodwill or intangible assets; cyclical downturns affecting the global market for capital goods; difficulties associated with managing foreign operations; and other risks and uncertainties including but not limited to those described in Item 1A-Risk Factors of the Company's Annual Report on Form 10-K/A filed on March 26, 2013  and from time to time in our reports filed with U.S. Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the applicable cautionary statements.  The forward-looking statements included in this presentation are made only as of their respective dates, and we undertake no obligation to update these statements to reflect subsequent events or circumstances.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Unaudited









(Dollars in Millions, Except per Share Data)


















Three Months Ended


Twelve Months Ended



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

Net Sales


$ 727.3


$ 715.6


$ 3,095.7


$ 3,166.9

Cost of Sales


549.3


554.9


2,312.5


2,395.9

Gross Profit


178.0


160.7


783.2


771.0

Operating Expenses


124.8


113.6


494.2


458.2

Asset Impairments and Other, Net


81.0



81.0


Income (Loss) From Operations


(27.8)


47.1


208.0


312.8

Interest Expense


10.5


10.9


42.4


44.5

Interest Income


1.8


0.4


4.9


1.6

Income (Loss) Before Taxes


(36.5)


36.6


170.5


269.9

Provision for (Benefit from) Income Taxes


(3.7)


5.7


44.5


69.6

Net Income (Loss)


(32.8)


30.9


126.0


200.3

Less: Net Income Attributable to Noncontrolling
   Interests


0.4


1.0


6.0


4.7

Net Income (Loss) Attributable to Regal Beloit Corporation


$  (33.2)


$   29.9


$   120.0


$    195.6

Earnings (Loss) Per Share Attributable to Regal Beloit Corporation:









Basic


$  (0.74)


$   0.71


$     2.66


$      4.68

Assuming Dilution


$  (0.74)


$   0.70


$     2.64


$      4.64

Cash Dividends Declared


$   0.20


$   0.19


$     0.79


$      0.75

Weighted Average Number of Shares Outstanding:









Basic


45.1


42.2


45.0


41.8

Assuming Dilution


45.1


42.5


45.4


42.1

         

SEGMENT INFORMATION







Unaudited









(Dollars In Millions)











Three Months Ended



Electrical Segment


Mechanical Segment



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

Net Sales


$   664.9


$   646.9


$    62.4


$  68.7

Income (Loss) from Operations


(22.5)


39.6


(5.3)


7.5












Twelve Months Ended



Electrical Segment


Mechanical Segment



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

Net Sales


$2,836.7


$2,870.2


$  259.0


$296.7

Income (Loss) from Operations


188.6


273.7


19.4


39.1

 

CONDENSED CONSOLIDATED BALANCE SHEETS

Unaudited





(Dollars in Millions)







Dec 28,
2013


Dec 29,
2012

ASSETS





Current Assets:





Cash and Cash Equivalents


$   466.0


$    375.3

Trade Receivables, less Allowances
   of $11.5 million in 2013 and $10.2 million in 2012


463.8


446.0

Inventories


618.7


557.0

Prepaid Expenses and Other Current Assets


130.6


112.9

Deferred Income Tax Benefits


46.8


48.7

Total Current Assets


1,725.9


1,539.9






Net Property, Plant, Equipment and Noncurrent Assets


1,917.6


2,029.2

Total Assets


$ 3,643.5


$ 3,569.1






LIABILITIES AND  EQUITY





Current Liabilities:





Accounts Payable


$    304.6


$    251.8

Other Accrued Expenses


237.9


218.3

Current Maturities of Debt


158.4


63.8

Total Current Liabilities


700.9


533.9






Long-Term Debt


609.0


754.7

Other Noncurrent Liabilities


231.2


284.0

Equity:





Total Regal Beloit Corporation Shareholders' Equity


2,056.2


1,953.4

Noncontrolling Interests


46.2


43.1

Total Equity


2,102.4


1,996.5

Total Liabilities and Equity


$ 3,643.5


$ 3,569.1

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

Unaudited









(Dollars in Millions)











Three Months Ended


Twelve Months Ended



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

CASH FLOWS FROM OPERATING ACTIVITIES:









Net income (loss)


$   (32.8)


$   30.9


$  126.0


$  200.3

Adjustments to reconcile net income (loss) and changes in assets and liabilities (net of acquisitions) to net cash provided by operating activities:









  Asset impairment and other, net


81.0



81.0


  Depreciation and amortization


33.4


31.0


128.5


126.0

  Excess tax benefits from share-based compensation


(0.1)


(0.5)


(0.8)


(2.2)

  Loss (gain) on disposition of property, net


1.9


(0.7)


2.0


(2.4)

  Share-based compensation expense


3.1


2.3


11.4


9.0

  Change in operating assets and liabilities


(20.0)


12.5


(43.1)


21.0

Net cash provided by operating activities


66.5


75.5


305.0


351.7

CASH FLOWS FROM INVESTING ACTIVITIES:









  Additions to property, plant, and equipment


(17.3)


(24.9)


(82.7)


(91.0)

  Purchases of investment securities


(7.6)


(8.3)


(32.2)


(13.0)

  Sales of investment securities


8.6


3.2


32.9


4.7

  Business acquisitions, net of cash acquired


(32.0)


(7.4)


(38.4)


(110.4)

  Additions of equipment on operating leases


(4.7)



(8.3)


  Grants received for capital expenditures



1.6


1.6


8.7

  Proceeds from sale of assets



0.7


1.7


3.4

Net cash used in investing activities


(53.0)


(35.1)


(125.4)


(197.6)

CASH FLOWS FROM FINANCING ACTIVITIES:









  Net proceeds from sale of Common Stock



202.9



202.9

  Borrowings under revolving credit facility



11.5


20.0


292.5

  Repayments under revolving credit facility



(38.5)


(20.0)


(301.5)

  Net proceeds (repayments) of short-term borrowings


(1.5)


(3.2)


(0.5)


0.3

  Repayments of long-term debt


(0.1)


(15.1)


(55.9)


(90.3)

  Dividends paid to shareholders


(9.0)


(7.9)


(35.1)


(30.8)

  Proceeds from the exercise of stock options


(0.8)


0.7


1.5


4.2

  Excess tax benefits from share-based compensation


0.1


0.5


0.8


2.2

  Distribution to noncontrolling interest



(2.4)



(2.4)

  Purchase of subsidiary shares from noncontrolling interest




(1.7)


Net cash (used in) provided by financing activities


(11.3)


148.5


(90.9)


77.1

EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS


1.1


0.6


2.0


1.5

Net increase in cash and cash equivalents


3.3


189.5


90.7


232.7

Cash and cash equivalents at beginning of period


462.7


185.8


375.3


142.6

Cash and cash equivalents at end of period


$  466.0


$ 375.3


$  466.0


$  375.3

 

NON-GAAP MEASURES

Unaudited
(Dollars in Millions)

We prepare financial statements in accordance with accounting principles generally accepted in the United States (GAAP).  We also disclose adjusted diluted earnings per share (EPS), adjusted gross profit, adjusted gross profit as a percentage of net sales, adjusted income from operations, and free cash flow and free cash flow as a percentage of adjusted net income attributable to Regal Beloit Corporation, (collectively, "non-GAAP financial measures"). We use these measures in our internal performance reporting and for reports to the Board of Directors.  We also periodically disclose certain of these measures in our quarterly earnings releases, on investor conference calls, and in investor presentations and similar events. We believe that these non-GAAP financial measures are useful measures for providing investors with additional insight into our operating performance. This additional information is not meant to be considered in isolation or as a substitute for our results of operations prepared and presented in accordance with GAAP.  Free cash flow is defined as net cash provided by operating activities less additions to property, plant and equipment adjusted for grants received for capital expenditures.



Three Months Ended


Twelve Months Ended



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

GAAP Gross Profit


$         178.0


$           160.7


$    783.2


$   771.0

Purchase Accounting Costs


0.8



0.8


0.7

Restructuring Costs


2.7


3.6


5.4


6.9

Adjusted Gross Profit


$          181.5


$           164.3


$    789.4


$    778.6










Adjusted Gross Profit as a Percentage of Net Sales


25.0 %


23.0 %


25.5 %


24.6 %












Three Months Ended


Twelve Months Ended



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

GAAP Income (Loss) from Operations


$           (27.8)


$             47.1


$   208.0


$    312.8

Asset Impairments and Other, Net


81.0



81.0


Purchase Accounting and Transaction Costs


1.6



1.6


0.7

Restructuring Costs


2.7


3.9


6.2


9.6

Gain on Disposal of Real Estate





(1.3)

Adjusted Income from Operations


$            57.5


$            51.0


$    296.8


$    321.8








Three Months Ended


Twelve Months Ended



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

GAAP Net Income (Loss) Attributable to Regal Beloit Corporation


$           (33.2)


$             29.9


$   120.0


195.6

Asset Impairments and Other, Net


81.0



81.0


Tax Effect from Asset Impairments and Other, Net


(6.4)



(6.4)


Adjusted Net Income Attributable to Regal Beloit Corporation to Exclude the Non-Cash, Net of Tax, Asset Impairments and Other, Net


$            41.4


$             29.9


$    194.6


$    195.6












Three Months Ended


Twelve Months Ended



Dec 28,
2013


Dec 29,
2012


Dec 28,
2013


Dec 29,
2012

GAAP Net Cash Provided by Operating Activities


66.5


$             75.5


305.0


$    351.7

Additions to Property Plant and Equipment


(17.3)


(24.9)


(82.7)


(91.0)

Grants Received for Capital Expenditures



1.6


1.6


8.7

Free Cash Flow


$            49.2


$             52.2


$    223.9


$    269.4

Free Cash Flow as a Percentage of Adjusted Net Income Attributable to Regal Beloit Corporation Adjusted to Exclude the Non-Cash, Net of Tax, Asset Impairments and Other, Net


118.8 %


174.6 %


115.1 %


137.7 %

 

SOURCE Regal Beloit Corporation

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Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great t...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Application transformation and DevOps practices are two sides of the same coin. Enterprises that want to capture value faster, need to deliver value faster – time value of money principle. To do that enterprises need to build cloud-native apps as microservices by empowering teams to build, ship, and run in production. In his session at @DevOpsSummit at 19th Cloud Expo, Neil Gehani, senior product manager at HPE, discussed what every business should plan for how to structure their teams to delive...
"We analyze the video streaming experience. We are gathering the user behavior in real time from the user devices and we analyze how users experience the video streaming," explained Eric Kim, Founder and CEO at Streamlyzer, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
SYS-CON Events announced today that Fusion, a leading provider of cloud services, 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. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
"MathFreeOn.com is a line coding platform for engineers and scientists. When they want to solve an engineering problem and they have to use software - they have to pay a lot of money for licenses - but with MathFreeOn you don't have to pay a lot of money. Just go to our site and write the code and you can check the result right away," explained Simon Lee, CMO of MathFreeOn, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Cla...