Welcome!

News Feed Item

NVIDIA Reports Financial Results for Fourth Quarter and Fiscal 2014

GPU Business Delivers Across Gaming, Workstation, High-Performance Computing

SANTA CLARA, CA -- (Marketwired) -- 02/12/14 -- NVIDIA (NASDAQ: NVDA)

  • Fiscal fourth quarter revenue of $1.14 billion.

  • Quarterly GAAP diluted EPS of $0.25, up from $0.20 in Q3; non-GAAP diluted EPS of $0.32, up from $0.26 in Q3.

  • Quarterly GAAP gross margin of 54.1 percent; non-GAAP gross margin of 53.8 percent.

NVIDIA (NASDAQ: NVDA) today reported revenue for the fourth quarter of fiscal 2014, ended Jan. 26, 2014, of $1.14 billion, up 8.6 percent from $1.05 billion in the previous quarter.

GAAP earnings per diluted share for the quarter were $0.25, up 25 percent from $0.20 in the previous quarter. Non-GAAP earnings per diluted share for the quarter were $0.32, up 23 percent from $0.26 in the previous quarter.

"Quarterly revenue came in well above our outlook, driven by PC gaming, capping an outstanding year for our GPU business," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "Tesla and Quadro both achieved record annual revenue. GRID cloud technology is being evaluated at hundreds of large enterprises worldwide. And Tegra K1 is disrupting the auto industry, paving the way to self-piloted cars. The groundbreaking work we are doing in visual computing is expanding the opportunities for our GPUs."

During the quarter, NVIDIA repurchased $37 million of stock and paid a dividend of $0.085 per share, equivalent to $48 million. During the year, NVIDIA returned $1.07 billion to shareholders -- $887 million towards the repurchase of 62 million shares and dividend payments totaling $181 million. NVIDIA will pay its next quarterly cash dividend of $0.085 per share on Mar. 20, 2014, to all shareholders of record on Feb. 27, 2014.

Revenue for the full year was $4.13 billion. GAAP earnings per diluted share for the year were $0.74 and non-GAAP earnings per diluted share for the year were $0.99.

----------------------------------------------------------------------------
                     GAAP Quarterly Financial Comparison
----------------------------------------------------------------------------
(in millions except
 earnings per share)    Q4 FY14  Q3 FY14  Q4 FY13       Q/Q          Y/Y
----------------------------------------------------------------------------
Revenue                  $1,144   $1,054   $1,107         up 9%        up 3%
----------------------------------------------------------------------------
Gross margin              54.1%    55.4%    52.9%  down 130 bps   up 120 bps
----------------------------------------------------------------------------
Operating expenses         $452     $443     $402         up 2%       up 13%
----------------------------------------------------------------------------
Net income                 $147     $119     $174        up 24%     down 16%
----------------------------------------------------------------------------
Earnings per share        $0.25    $0.20    $0.28        up 25%     down 11%
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                   Non-GAAP Quarterly Financial Comparison
----------------------------------------------------------------------------
(in millions except
 earnings per share)    Q4 FY14  Q3 FY14  Q4 FY13       Q/Q          Y/Y
----------------------------------------------------------------------------
Revenue                  $1,144   $1,054   $1,107         up 9%        up 3%
----------------------------------------------------------------------------
Gross margin              53.8%    55.7%    53.2%  down 190 bps    up 60 bps
----------------------------------------------------------------------------
Operating expenses         $408     $405     $360         up 1%       up 13%
----------------------------------------------------------------------------
Net income                 $187     $154     $215        up 22%     down 13%
----------------------------------------------------------------------------
Earnings per share        $0.32    $0.26    $0.35        up 23%      down 9%
----------------------------------------------------------------------------

Among highlights of the fourth quarter of fiscal 2014, NVIDIA:

  • Grew GeForce® GTX™ GPU revenue nearly 50 percent over the fourth quarter of fiscal 2013.

  • Launched Tegra®K1, NVIDIA's next-generation mobile system-on-a-chip, extending the Kepler™ architecture across the company's entire line of processors.

  • Demonstrated Denver, NVIDIA's custom 64-bit ARM core inside Tegra K1. This was the first time Android had been shown running on 64-bit ARM.

  • Announced Audi is introducing a new Tegra-powered infotainment system, smart display and digital cockpit. Audi also announced it will use Tegra K1 to power its future piloted-driving initiatives.

  • Launched Tesla® K40, the world's fastest accelerator for supercomputing and big data analytics.

  • Partnered with IBM to build supercomputers for the HPC community and accelerate enterprise data analytics applications with GPUs.

NVIDIA's outlook for the first quarter of fiscal 2015 is as follows:

  • Revenue is expected to be $1.05 billion, plus or minus two percent.

  • GAAP and non-GAAP gross margins are expected to be approximately 54.2 percent and 54.5 percent, respectively.

  • GAAP operating expenses are expected to be approximately $454 million; non-GAAP operating expenses are expected to be approximately $413 million.

  • GAAP and non-GAAP tax rates for the first quarter and annual fiscal 2015 are both expected to be 20 percent, plus or minus one percent. If the U.S. R&D tax credit is renewed, the tax rate is expected to be 16 percent.

  • Capital expenditures are expected to be approximately $45 million for the first quarter of fiscal 2015.

CFO Commentary
Commentary on the quarter by Colette Kress, NVIDIA chief financial officer, is available at www.nvidia.com/ir.

Conference Call and Webcast Information
NVIDIA will conduct a conference call with analysts and investors to discuss its fourth quarter fiscal 2014 financial results and financial outlook today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). To listen to the call, please dial (212) 231-2922. A live webcast (listen-only mode) of the conference call will be accessible at the NVIDIA investor relations web site www.nvidia.com/ir and at www.streetevents.com. The webcast will be recorded and available for replay until the company's conference call to discuss its financial results for its first quarter fiscal 2015.

Non-GAAP Measures
To supplement NVIDIA's Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP interest and other income/expense, non-GAAP income tax expense, non-GAAP net income, non-GAAP net income, or earnings, per share, and free cash flow. In order for NVIDIA's investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation, legal settlements, a credit related to a weak die/packaging material set, acquisition-related costs, a contribution expense, other expenses, a gain on sale of a non-affiliated investment, interest expense related to amortization of debt discount, and the associated tax impact of these items, where applicable. Free cash flow is calculated as GAAP net cash provided by operating activities less purchases of property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user's overall understanding of the company's historical financial performance. The presentation of the company's non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company's financial results prepared in accordance with GAAP, and our non-GAAP measures may be different from non-GAAP measures used by other companies.

To Keep Current on NVIDIA:

  • Like NVIDIA on Facebook.
  • Connect with NVIDIA on LinkedIn.
  • Follow @NVIDIA on Twitter.
  • View NVIDIA videos on YouTube.
  • Keep up with the NVIDIA Blog.
  • Use the Pulse news reader to subscribe to the NVIDIA Daily News feed.



                             NVIDIA CORPORATION
                CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                   (In thousands, except per share data)
                                (Unaudited)

                            Three Months Ended        Twelve Months Ended
                         ------------------------  ------------------------
                         January 26,  January 27,  January 26,  January 27,
                             2014         2013         2014         2013
                         -----------  -----------  -----------  -----------

Revenue                  $ 1,144,218  $ 1,106,902  $ 4,130,162  $ 4,280,159
Cost of revenue              524,976      521,300    1,862,399    2,053,816
                         -----------  -----------  -----------  -----------
Gross profit                 619,242      585,602    2,267,763    2,226,343
Operating expenses
  Research and
   development               336,641      298,007    1,335,834    1,147,282
  Sales, general and
   administrative            115,677      104,022      435,702      430,822
                         -----------  -----------  -----------  -----------
    Total operating
     expenses                452,318      402,029    1,771,536    1,578,104
                         -----------  -----------  -----------  -----------
Operating income             166,924      183,573      496,227      648,239
  Interest income              4,156        4,693       17,119       19,908
  Interest expense            (7,935)        (880)     (10,443)      (3,294)
  Other income
   (expense), net              5,743       (1,278)       7,351       (2,814)
                         -----------  -----------  -----------  -----------
Income before income tax
 expense                     168,888      186,108      510,254      662,039
Income tax expense            21,971       12,135       70,264       99,503
                         -----------  -----------  -----------  -----------
Net income               $   146,917  $   173,973  $   439,990  $   562,536
                         ===========  ===========  ===========  ===========

Basic net income per
 share                   $      0.26  $      0.28  $      0.75  $      0.91
                         ===========  ===========  ===========  ===========
Diluted net income per
 share                   $      0.25  $      0.28  $      0.74  $      0.90
                         ===========  ===========  ===========  ===========

Shares used in basic per
 share computation           568,483      620,169      587,893      619,324
Shares used in diluted
 per share computation       577,356      622,018      594,517      624,957



                             NVIDIA CORPORATION
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                               (In thousands)
                                 (Unaudited)

                                                  January 26,   January 27,
                                                      2014          2013
                                                 ------------- -------------
ASSETS

Current assets:
  Cash, cash equivalents and marketable
   securities                                    $   4,671,810 $   3,727,883
  Accounts receivable, net                             426,357       454,252
  Inventories                                          387,765       412,467
  Prepaid expenses and other current assets            138,779       180,656
                                                 ------------- -------------
    Total current assets                             5,624,711     4,775,258

Property and equipment, net                            582,740       576,144
Goodwill                                               643,179       641,030
Intangible assets, net                                 296,012       312,332
Other assets                                           104,252       107,481
                                                 ------------- -------------
    Total assets                                 $   7,250,894 $   6,412,245
                                                 ============= =============

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Accounts payable                               $     324,391 $     356,428
  Accrued liabilities and other current
   liabilities                                         621,105       619,795
                                                 ------------- -------------
    Total current liabilities                          945,496       976,223

Long-term debt                                       1,356,375             -
Other long-term liabilities                            475,125       589,321
Capital lease obligations, long-term                    17,500        18,998

Stockholders' equity                                 4,456,398     4,827,703
                                                 ------------- -------------

    Total liabilities and stockholders' equity   $   7,250,894 $   6,412,245
                                                 ============= =============



                             NVIDIA CORPORATION
           RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
                   (In thousands, except per share data)
                                (Unaudited)

                           Three Months Ended          Twelve Months Ended
                    -------------------------------  ----------------------
                     January    October    January     January     January
                     26, 2014   27, 2013   27, 2013   26, 2014    27, 2013
                    ---------  ---------  ---------  ----------  ----------

GAAP gross profit   $ 619,242  $ 584,415  $ 585,602  $2,267,763  $2,226,343
  GAAP gross margin      54.1%      55.4%      52.9%       54.9%       52.0%
    Stock-based
     compensation
     expense
     included in
     cost of
     revenue (A)        2,777      3,090      2,826      10,688      10,490
    Legal
     settlement         1,450          -          -       3,740           -
    Credit from a
     weak
     die/packaging
     material set
     (B)               (7,782)         -          -      (7,782)          -
                    ---------  ---------  ---------  ----------  ----------
Non-GAAP gross
 profit             $ 615,687  $ 587,505  $ 588,428  $2,274,409  $2,236,833
                    =========  =========  =========  ==========  ==========
  Non-GAAP gross
   margin                53.8%      55.7%      53.2%       55.1%       52.3%

GAAP operating
 expenses           $ 452,318  $ 443,427  $ 402,029  $1,771,536  $1,578,104
    Stock-based
     compensation
     expense
     included in
     operating
     expense (A)      (33,427)   (31,209)   (32,943)   (125,607)   (126,172)
    Acquisition-
     related costs
     (C)               (9,250)    (4,577)    (8,698)    (31,652)    (36,138)
    Contribution
     expense (D)            -          -          -           -     (20,127)
    Other expense
     (E)               (1,845)    (2,235)         -      (4,080)          -
                    ---------  ---------  ---------  ----------  ----------
Non-GAAP operating
 expenses           $ 407,796  $ 405,406  $ 360,388  $1,610,197  $1,395,667
                    =========  =========  =========  ==========  ==========

GAAP interest and
 other
 income/expense,
 net                $   1,964  $     496  $   2,535  $   14,027  $   13,800
    Gain on sale of
     a non-
     affiliated
     investment        (3,074)         -          -      (3,074)          -
    Interest
     expense
     related to
     amortization
     of debt
     discount           4,600          -          -       4,600           -
                    ---------  ---------  ---------  ----------  ----------
Non-GAAP interest
 and other
 income/expense,
 net                $   3,490  $     496  $   2,535  $   15,553  $   13,800
                    =========  =========  =========  ==========  ==========

GAAP net income     $ 146,917  $ 118,734  $ 173,973  $  439,990  $  562,536
    Total pre-tax
     impact of non-
     GAAP
     adjustments       42,493     41,111     44,467     169,511     192,927
    Income tax
     impact of non-
     GAAP
     adjustments       (1,924)    (6,055)    (3,507)    (21,094)    (27,090)
                    ---------  ---------  ---------  ----------  ----------
Non-GAAP net income $ 187,486  $ 153,790  $ 214,933  $  588,407  $  728,373
                    =========  =========  =========  ==========  ==========

Diluted net income
 per share
    GAAP            $    0.25  $    0.20  $    0.28  $     0.74  $     0.90
                    =========  =========  =========  ==========  ==========
    Non-GAAP        $    0.32  $    0.26  $    0.35  $     0.99  $     1.17
                    =========  =========  =========  ==========  ==========

Shares used in
 diluted net income
 per share
 computation          577,356    588,752    622,018     594,517     624,957

Metrics:
    GAAP net cash
     flow provided
     by operating
     activities     $ 400,712  $ 162,315  $ 451,009  $  835,146  $  824,172
    Purchase of
     property and
     equipment and
     intangible
     assets           (66,374)   (38,159)   (47,758)   (255,186)   (183,309)
                    ---------  ---------  ---------  ----------  ----------
    Free cash flow  $ 334,338  $ 124,156  $ 403,251  $  579,960  $  640,863
                    =========  =========  =========  ==========  ==========

----------------------------------------------------------------------------

(A) Excludes stock-
 based compensation
 as follows:               Three Months Ended          Twelve Months Ended
                    -------------------------------  ----------------------
                     January    October    January    January     January
                     26, 2014   27, 2013   27, 2013   26, 2014    27, 2013
                    ---------  ---------  ---------  ----------  ----------
    Cost of revenue $   2,777  $   3,090  $   2,826  $   10,688  $   10,490
    Research and
     development    $  21,548  $  20,902  $  22,009  $   82,940  $   82,157
    Sales, general
     and
     administrative $  11,879  $  10,307  $  10,934  $   42,667  $   44,015

(B) Release of the remaining warranty reserve related to a weak
 die/packaging material set, as of January 26, 2014.

(C) Consists of amortization of acquisition-related intangible assets,
 transaction costs, compensation charges, and other credits related to
 acquisitions.

(D) Net present value of a $25 million charitable contribution pledged on
 June 12, 2012 to Stanford Hospital and Clinic, payable over ten years.

(E) Includes intangible asset write-off, restructuring charge, and legal
 settlement costs, net of credits.

----------------------------------------------------------------------------


                             NVIDIA CORPORATION
                 RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK

                                                                Q1 FY2015
                                                                 Outlook
                                                              -------------

GAAP gross margin                                                      54.2%
  Impact of stock-based compensation                                    0.3%
                                                              -------------
Non-GAAP gross margin                                                  54.5%
                                                              =============

                                                                Q1 FY2015
                                                                 Outlook
                                                              -------------
                                                              (In millions)

GAAP operating expenses                                       $         454
  Stock-based compensation expense and acquisition-related
   costs                                                                (41)
                                                              -------------
Non-GAAP operating expenses                                   $         413
                                                              =============


About NVIDIA
Since 1993, NVIDIA (NASDAQ: NVDA) has pioneered the art and science of visual computing. The company's technologies are transforming a world of displays into a world of interactive discovery -- for everyone from gamers to scientists, and consumers to enterprise customers. More information at http://nvidianews.nvidia.com and http://blogs.nvidia.com.

Certain statements in this press release including, but not limited to statements as to: the evaluation of GRID cloud technology; the effects of Tegra K1; the expansion of opportunities for the company's GPUs; the company's financial outlook for the first quarter of fiscal 2015; and the company's tax rate for the first quarter and fiscal 2015 are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners' products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the reports NVIDIA files with the Securities and Exchange Commission, or SEC, including its Form 10-Q for the fiscal period ended October 27, 2013. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2014 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, GeForce GTX, Tegra, Tesla, NVIDIA GRID and Kepler are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability, and specifications are subject to change without notice.

Add to Digg Bookmark with del.icio.us Add to Newsvine

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
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 cloud...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
@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...
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.
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 @...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
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.
"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...
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of 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. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
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.
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal...
Infrastructure is widely available, but who’s managing inbound/outbound traffic? Data is created, stored, and managed online – who is protecting it and how? In his session at 19th Cloud Expo, Jaeson Yoo, SVP of Business Development at Penta Security Systems Inc., discussed how to keep any and all infrastructure clean, safe, and efficient by monitoring and filtering all malicious HTTP/HTTPS traffic at the OSI Layer 7. Stop attacks and web intruders before they can enter your network.