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Owens Corning Reports Fourth-Quarter and Full-Year 2013 Results

Full-Year Adjusted EBIT Grew by More Than 40 Percent; Company Initiates Quarterly Dividend

TOLEDO, Ohio, Feb. 12, 2014 /PRNewswire/ -- Owens Corning (NYSE: OC) today reported consolidated net sales of $5.3 billion in 2013, up from net sales of $5.2 billion in 2012.

Full-year 2013 adjusted earnings were $221 million, or $1.86 per diluted share compared to adjusted earnings of $131 million, or $1.10 per diluted share, in 2012. Net earnings in 2013 were $204 million, or $1.71 per share, compared to net loss of $19 million, or $0.16 per diluted share last year.

Fourth-quarter 2013 adjusted earnings were $52 million, or $0.44 per diluted share, compared with $13 million, or $0.11 per diluted share, during the same period one year ago.  The company reported net earnings of $82 million, or $0.69 per diluted share, in the fourth quarter of 2013, compared with a net loss of $56 million, or $0.47 per diluted share, in 2012.  (See Table 6 for a discussion and reconciliation of these items.)

"In 2013, our insulation business returned to profitability. This was an important achievement for our company," said Chairman and Chief Executive Officer Mike Thaman. "We are pleased to establish a quarterly dividend as an additional mechanism to return value to our shareholders.

"All three businesses improved in 2013, benefitting from a stable and growing global economy and a recovering U.S. housing market," Thaman added.  "We expect similar growth in 2014 and we are working to maintain the momentum we established last year."

The decision to declare a dividend conveys the confidence of the Board of Directors in the company's long-term financial outlook and cash flow generation. The company will make an initial quarterly payment of 16 cents per common share on April 3, 2014, to shareholders of record as of March 14, 2014.

Consolidated Fourth-Quarter and Full-Year 2013 Results

  • Owens Corning maintained a very high level of safety performance in 2013.  The company had 88 percent fewer injuries than the average manufacturing company when measured against the rates published by the U.S. Department of Labor.
  • Adjusted earnings before interest and taxes (EBIT) in the fourth quarter of 2013 was $96 million, compared with $52 million in 2012.  EBIT for the fourth quarter was $104 million, compared with $16 million during the same period in 2012 (see Table 2). 
  • Full-year adjusted EBIT was $416 million in 2013, compared with adjusted EBIT of $293 million in 2012.  Full-year EBIT in 2013 was $385 million, compared to $148 million in 2012.  (See Table 2 for a reconciliation of these items).

Outlook

In 2014, the company expects to deliver $500 million in adjusted EBIT based on our current outlook for an improving U.S. housing market and moderate global growth.

We expect the Roofing business to deliver another strong year in 2014 and anticipate that the market will grow on new construction with flat to potentially improving re-roofing demand.

Insulation should continue to benefit from growth in U.S. residential new construction, improved pricing and operating leverage.

In Composites, the company expects recovering market conditions to drive price improvement of $20 million to $30 million. Pricing is expected to be the primary driver of EBIT growth in 2014.

The company estimates a long-term effective tax rate of 28 percent to 30 percent, and a long-term effective cash tax rate of 10 percent to 12 percent on adjusted pre-tax earnings, due to the company's $2.2 billion U.S. tax net operating loss carryforward.  The effective book tax rate for 2014 on adjusted earnings is expected to be within the long-term range.

The company expects general corporate expenses to be $120 million to $130 million in 2014. Capital expenditures in 2014 are expected to total approximately $400 million, including an estimated $65 million for the start of construction of a non-woven facility.

The cash dividend to be paid in April will mark the company's first such payment since 2000. Future dividend declarations will be made at the discretion of the Board of Directors and will be based on such factors as the company's earnings, financial condition, cash requirements, future prospects and other factors.

Next Earnings Announcement

First-quarter 2014 results will be announced on Wednesday, April 23, 2014.

Conference Call and Presentation

Wednesday, February 12, 2014
11 a.m. Eastern Time

All Callers
Live dial-in telephone number: U.S. and Canada 1.877.201.0168 or international +1.647.788.4901. 
Entry number: 354-170-30 (Please dial in 10-15 minutes before conference call start time)

Live webcast: http://investor.owenscorning.com/investor-relations/

Telephone replay available through Feb. 19, 2014. For U.S. and Canada, call 1.855.859.2056
or international +1.404.537.3406. Conference replay number: 354-170-30

Replay of webcast also available until Feb. 12, 2015 at: http://investor.owenscorning.com/investor-relations/  

Presentation
To view the slide presentation during the conference call, please log on to the live webcast at:
http://investor.owenscorning.com/investor-relations/

About Owens Corning

Owens Corning (NYSE: OC) is a leading global producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. A Fortune® 500 company for 59 consecutive years, Owens Corning is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives. In business for more than 75 years, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $5.3 billion in 2013 and about 15,000 employees in 27 countries. Additional information is available at www.owenscorning.com.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  These forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those projected in these statements.  Such factors include, without limitation: economic and political conditions, including; levels of residential and commercial construction activity; competitive factors; levels of global industrial production; relationships with key customers; difficulties in managing production capacity; industry and economic conditions that affect the market and operating conditions of our customers, suppliers or lenders; availability and cost of credit; our level of indebtedness; weather conditions;  pricing factors; availability and cost of energy and raw materials; issues involving implementation of new business systems; new legislation or other governmental actions; our ability to use our net operating loss carry-forwards; research and development activities; foreign exchange fluctuations; interest rate movements; labor disputes; issues related to acquisitions, divestitures and joint ventures; uninsured losses; achievement of expected synergies, cost reductions and/or productivity improvements; defined benefit plan funding obligations; and, factors detailed from time to time in the company's Securities and Exchange Commission filings.  The information in this news release speaks as of February 12, 2014, and is subject to change.  The company does not undertake any duty to update or revise forward-looking statements.  Any distribution of this news release after that date is not intended and should not be construed as updating or confirming such information.

Owens Corning Investor Relations News

Table 1

Owens Corning and Subsidiaries

Consolidated Statements of Earnings (Loss)

(unaudited)

(in millions, except per share amounts)






Three Months Ended


Twelve Months Ended




Dec. 31,


Dec. 31,






2013



2012



2013



2012

NET SALES


$

1,278


$

1,159


$

5,295


$

5,172

COST OF SALES



1,045



989



4,329



4,375

            Gross margin



233



170



966



797

OPERATING EXPENSES













      Marketing and administrative expenses



135



129



530



509

      Science and technology expenses



20



19



77



79

      Charges related to cost reduction actions



-



15



8



51

      Other expenses (income), net



(26)



(9)



(34)



10

            Total operating expenses



129



154



581



649

EARNINGS BEFORE INTEREST AND TAXES



104



16



385



148

Interest expense, net



25



29



112



114

Loss on extinguishment of debt



-



74



-



74

EARNINGS (LOSS) BEFORE TAXES



79



(87)



273



(40)

Less: Income tax expense (benefit)



(3)



(36)



68



(28)

Equity in net earnings of affiliates



-



(4)



-



(4)

NET EARNINGS (LOSS)



82



(55)



205



(16)

Less: Net earnings attributable to noncontrolling interests



-



1



1



3

NET EARNINGS (LOSS) ATTRIBUTABLE TO OWENS

CORNING


$

82


$

(56)


$

204


$

(19)

BASIC EARNINGS (LOSS) PER COMMON SHARE













      ATTRIBUTABLE TO OWENS CORNING COMMON

      STOCKHOLDERS


$

0.70


$

(0.47)


$

1.73


$

(0.16)
















DILUTED EARNINGS (LOSS) PER COMMON SHARE













      ATTRIBUTABLE TO OWENS CORNING COMMON













      STOCKHOLDERS


$

0.69


$

(0.47)


$

1.71


$

(0.16)
















WEIGHTED AVERAGE COMMON SHARES













            Basic



117.6



118.0



118.2



119.4

            Diluted



118.5



118.0



119.1



119.4


Owens Corning follows the authoritative guidance referring to "Noncontrolling Interest in Consolidated Financial Statements," effective January 1, 2009, which, among other things, changed the presentation format and certain captions of the Consolidated Statements of Earnings (Loss) and Consolidated Balance Sheets. Owens Corning uses the captions recommended by this standard in its Consolidated Financial Statements such as net earnings attributable to Owens Corning and diluted earnings per common share attributable to Owens Corning common stockholders. However, in the preceding release Owens Corning has shortened this language to net earnings and earnings per share (or a slight variation thereof), respectively.

 


Table 2

Owens Corning and Subsidiaries

EBIT Reconciliation Schedules

(unaudited)


For purposes of internal review of Owens Corning's year-over-year operational performance, management excludes from net earnings attributable to Owens Corning certain items it believes are not the result of current operations. The adjusted financial measure resulting from these adjustments is used internally by Owens Corning for various purposes, including reporting results of operations to the Board of Directors, analysis of performance, and related employee compensation measures. Although management believes that these adjustments result in a measure that provides it a useful representation of its operational performance, the adjusted measure should not be considered in isolation or as a substitute for net earnings attributable to Owens Corning as prepared in accordance with accounting principles generally accepted in the United States.


Adjusting items are shown in the table below (in millions):


























Three Months Ended


Twelve Months Ended




Dec. 31,


Dec. 31,





2013


2012


2013


2012

Charges related to cost reduction actions and related items

$

(3)


$

(27)


$

(26)


$

(136)

Net gain (loss) related to Hurricane Sandy insurance activity


31



(9)



15



(9)

Accelerated depreciation related to a change in the useful life












      of assets in Cordele, Georgia facility


(20)



-



(20)



-

      Total adjusting items

$

8


$

(36)


$

(31)


$

(145)































The reconciliation from net earnings attributable to Owens Corning to Adjusted EBIT is shown in the table below (in millions):




















Three Months Ended


Twelve Months Ended




Dec. 31,


Dec. 31,





2013


2012


2013


2012

NET EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING

$

82


$

(56)


$

204


$

(19)

      Less: Net earnings attributable to noncontrolling interests


-



1



1



3

NET EARNINGS (LOSS)


82



(55)



205



(16)

      Equity in net earnings of affiliates


-



(4)



-



(4)

      Income tax expense (benefit)


(3)



(36)



68



(28)

EARNINGS (LOSS) BEFORE TAXES


79



(87)



273



(40)

      Interest expense, net


25



29



112



114

      Loss on extinguishment of debt


-



74



-



74

EARNINGS BEFORE INTEREST AND TAXES


104



16



385



148

      Less: adjusting items from above


8



(36)



(31)



(145)

ADJUSTED EBIT

$

96


$

52


$

416


$

293

 

Table 3

Owens Corning and Subsidiaries

Consolidated Statements of Cash Flows

(unaudited)

(in millions)







Twelve Months Ended






Dec. 31,






2013



2012



2011

NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES










Net earnings (loss)

$

205


$

(16)


$

281


Adjustments to reconcile net earnings (loss) to cash provided by











operating activities:












Depreciation and amortization


332



349



318




Gain on sale of assets or affiliates


(6)



(17)



(30)




Proceeds from Hurricane Sandy insurance claims


(58)



(20)



-




Deferred income taxes


54



(59)



55




Provision for pension and other employee benefits liabilities


23



36



36




Stock-based compensation expense


28



24



21




Other non-cash


(18)



(14)



(22)




Loss on extinguishment of debt


-



74



-


Change in working capital accounts:












Changes in receivables, net


(77)



24



(48)




Changes in inventories


(27)



(4)



(179)




Changes in accounts payable and accrued liabilities


46



23



(41)




Changes in other current assets


4



(39)



(35)




Other


-



2



41


Pension fund contribution


(39)



(50)



(117)


Payments for other employee benefits liabilities


(22)



(22)



(24)


Other


(27)



39



33




Net cash flow provided by operating activities


418



330



289

NET CASH FLOW USED FOR INVESTING ACTIVITIES










Additions to plant and equipment (including alloy)


(353)



(332)



(442)


Proceeds from the sale of assets (including alloy) or affiliates


16



59



81


Investment in subsidiaries and affiliates, net of cash acquired


(62)



-



(84)


Proceeds from Hurricane Sandy insurance claims


58



20



-


Deposit related to sale of Hangzhou, China plant


34



-



-




Net cash flow used for investing activities


(307)



(253)



(445)

NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES










Proceeds from senior revolving credit and receivables securitization facilities


1,063



1,877



1,912


Payments on senior revolving credit and receivables securitization facilities


(1,103)



(1,957)



(1,630)


Proceeds from long-term debt


-



599



6


Payments on long-term debt


(2)



(441)



(10)


Purchase of noncontrolling interest


-



(22)



-


Net increase (decrease) in short-term debt


(4)



(23)



26


Purchases of treasury stock


(63)



(113)



(138)


Other


2



4



8




Net cash flow provided by (used for) financing activities


(107)



(76)



174

Effect of exchange rate changes on cash


(2)



2



(18)

Net increase in cash and cash equivalents


2



3



-

Cash and cash equivalents at beginning of period


55



52



52

 

CASH AND CASH EQUIVALENTS AT END OF PERIOD

$

57


$

55


$

52

DISCLOSURE OF CASH FLOW INFORMATION










Cash paid during the year for income taxes

$

29


$

30


$

24


Cash paid during the year for interest

$

126


$

122


$

111

 

Table 4

Owens Corning and Subsidiaries

Consolidated Balance Sheets

(unaudited)

(in millions)




Dec. 31,


Dec. 31,

ASSETS


2013


2012

CURRENT ASSETS








Cash and cash equivalents


$

57


$

55


Receivables, less allowances of $14 at Dec. 31, 2013 and $17 at Dec. 31, 2012



683



600


Inventories



810



786


Assets held for sale - current



29



-


Other current assets



269



176



Total current assets



1,848



1,617

Property, plant and equipment, net



2,932



2,903

Goodwill



1,166



1,143

Intangible assets



1,040



1,045

Deferred income taxes



436



604

Other non-current assets



225



256

TOTAL ASSETS


$

7,647


$

7,568










LIABILITIES AND EQUITY







CURRENT LIABILITIES








Accounts payable and accrued liabilities


$

988


$

907


Short-term debt



1



5


Long-term debt – current portion



3



4



Total current liabilities



992



916

Long-term debt, net of current portion



2,024



2,076

Pension plan liability



336



480

Other employee benefits liability



242



274

Deferred income taxes



23



38

Other liabilities



200



209

OWENS CORNING STOCKHOLDERS' EQUITY








Preferred stock, par value $0.01 per share (a)



-



-


Common stock, par value $0.01 per share (b)



1



1


Additional paid in capital



3,938



3,925


Accumulated earnings



655



451


Accumulated other comprehensive deficit



(297)



(364)


Cost of common stock in treasury (c)



(504)



(475)



Total Owens Corning stockholders' equity



3,793



3,538


Noncontrolling interests



37



37

Total equity



3,830



3,575

TOTAL LIABILITIES AND EQUITY


$

7,647


$

7,568










(a)

10 shares authorized; none issued or outstanding at Dec. 31, 2013 and Dec. 31, 2012

(b)

400 shares authorized; 135.5 issued and 117.8 outstanding at Dec. 31, 2013; 135.6 issued and 118.3 outstanding at Dec. 31, 2012

(c)

17.7 shares at Dec. 31, 2013 and 17.3 shares at Dec. 31, 2012

 


Table 5

Owens Corning and Subsidiaries

Segment and Business Information

(unaudited)


Composites




















The table below provides a summary of net sales, EBIT and depreciation and amortization expense for our Composites segment (in millions):
















Three Months Ended


Twelve Months Ended



Dec. 31,


Dec. 31,



2013


2012


2013


2012

Net sales

$

461


$

426


$

1,845


$

1,859

            % change from prior year


8%



-7%



-1%



-6%














EBIT

$

36


$

23


$

98


$

91

            EBIT as a % of net sales


8%



5%



5%



5%














Depreciation and amortization expense

$

31


$

32


$

130


$

123


Building Materials


The table below provides a summary of net sales, EBIT and depreciation and amortization expense (in millions) for the Building Materials segment and our businesses within this segment.




Three Months Ended


Twelve Months Ended



Dec. 31,


Dec. 31,



2013


2012


2013


2012

Net sales












      Insulation

$

466


$

413


$

1,642


$

1,468

      Roofing


381



350



1,967



2,014

Total Building Materials

$

847


$

763


$

3,609


$

3,482

            % change from prior year

11%


-1%


4%


-2%














EBIT












      Insulation

$

39


$

9


$

40


$

(38)

      Roofing


55



42



386



331

Total Building Materials

$

94


$

51


$

426


$

293

            EBIT as a % of net sales

11%


7%


12%


8%














Depreciation and amortization expense












      Insulation

$

25


$

25


$

104


$

105

      Roofing


10



10



38



38

Total Building Materials

$

35


$

35


$

142


$

143







Corporate, Other and Eliminations



















The table below provides a summary of EBIT and depreciation and amortization expense for the Corporate, Other and Eliminations category (in millions):
















Three Months Ended


Twelve Months Ended



Dec. 31,


Dec. 31,



2013


2012


2013


2012

Charges related to cost reduction actions and related items

$

(3)


$

(27)


$

(26)


$

(136)

Net gain (loss) related to Hurricane Sandy insurance activity


31



(9)



15



(9)

Accelerated depreciation related to a change in the useful life












      of assets in Cordele, Georgia facility


(20)



-



(20)



-

General corporate expense


(34)



(22)



(108)



(91)

EBIT

$

(26)


$

(58)


$

(139)


$

(236)














Depreciation and amortization

$

31


$

13


$

60


$

83

 

Table 6

Owens Corning and Subsidiaries

EPS Reconciliation Schedules

(unaudited)

(in millions, except per share data)


For purposes of internal review of Owens Corning's year-over-year operational performance, management excludes from net earnings attributable to Owens Corning certain items it believes are not the result of current operations. The adjusted financial measures resulting from these adjustments are used internally by Owens Corning for various purposes, including reporting results of operations to the Board of Directors, analysis of performance and related employee compensation measures. Although management believes that these adjustments result in measures that provide it a useful representation of its operational performance, the adjusted measures should not be considered in isolation or as a substitute for net earnings attributable to Owens Corning as prepared in accordance with accounting principles generally accepted in the United States.


A reconciliation from net earnings (loss) attributable to Owens Corning to Adjusted Earnings and a reconciliation from diluted earnings (loss) per share to adjusted diluted earnings per share are shown in the tables below:





































Three Months Ended


Three Months Ended

Three Months Ended


Three Months Ended


Twelve  Months Ended





March 31, 


June 30, 

September 30, 


December 31, 


December 31, 






2013



2012



2013



2012


2013



2012



2013



2012



2013



2012

RECONCILIATION TO ADJUSTED EARNINGS





























Net earnings (loss) attributable to Owens Corning

$

22


$

(46)


$

49


$

39

$

51


$

44


$

82


$

(56)


$

204


$

(19)

            Adjustment to remove adjusting items net of tax


15



43



4



23


9



16



(11)



68



17



150

            Adjustment to tax expense to reflect pro forma tax rate*


(2)



14



15



5


6



(20)



(19)



1



-



-

ADJUSTED EARNINGS

$

35


$

11


$

68


$

67

$

66


$

40


$

52


$

13


$

221


$

131

































RECONCILIATION TO ADJUSTED DILUTED


















      EARNINGS PER SHARE ATTRIBUTABLE TO


















      OWENS CORNING COMMON STOCKHOLDERS


















DILUTED EARNINGS PER COMMON SHARE   





























      ATTRIBUTABLE TO OWENS CORNING





























      COMMON STOCKHOLDERS

$

0.18


$

(0.38)


$

0.41


$

0.32

$

0.43


$

0.37


$

0.69


$

(0.47)


$

1.71


$

(0.16)

            Adjustment to remove adjusting items net of tax


0.13



0.36



0.03



0.19


0.08



0.13



(0.09)



0.58



0.15



1.26

            Adjustment to tax expense to reflect pro forma tax rate*


(0.02)



0.11



0.13



0.04


0.05



(0.16)



(0.16)



-



-



-

ADJUSTED DILUTED EARNINGS PER SHARE ATTRIBUTABLE





























      TO OWENS CORNING COMMON STOCKHOLDERS

$

0.29


$

0.09


$

0.56


$

0.55

$

0.56


$

0.34


$

0.44


$

0.11


$

1.86


$

1.10

































RECONCILIATION TO DILUTED SHARES OUTSTANDING


















Weighted-average shares outstanding used





























       for basic earnings per share


118.5



121.1



119.1



120.8


118.0



117.9



117.6



118.0



118.2



119.4

            Non-vested restricted shares


0.6



-



0.7



0.4


0.4



0.6



0.5



-



0.4



-

            Options to purchase common stock


0.5



-



0.6



0.3


0.4



0.3



0.4



-



0.5



-

Diluted shares outstanding


119.6



121.1



120.4



121.5


118.8



118.8



118.5



118.0



119.1



119.4


































*In 2013 and 2012, the quarterly tax expense was adjusted to reflect the actual full year adjusted effective tax rate of 27 percent and 23 percent, respectively.

 

 

SOURCE Owens Corning

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SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
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SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and 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.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...