Welcome!

News Feed Item

Mohawk Industries, Inc. Announces Fourth Quarter Earnings

- Net sales up 34% over PY

- Adjusted EPS increased 77%

CALHOUN, Georgia, Feb. 20, 2014 /PRNewswire/ -- Mohawk Industries, Inc. (NYSE: MHK) today announced 2013 fourth quarter net earnings of $95 million and diluted earnings per share (EPS) of $1.29. Excluding unusual charges and discontinued operations, net earnings for the quarter were $131 million and EPS was $1.79, a 77% increase over last year's fourth quarter adjusted EPS. Net sales for the fourth quarter of 2013 were approximately $1.9 billion, an increase of 34% versus the prior year's fourth quarter or 33% on a constant exchange basis. For the fourth quarter of 2012, net sales were approximately $1.4 billion, net earnings were $66 million and EPS was $0.95; excluding unusual charges, net earnings were $70 million and EPS was $1.01.

For the twelve months ending December 31, 2013, net sales were approximately $7.3 billion, an increase of approximately 27% versus the prior year or 26% on a constant exchange basis. Net earnings and EPS for the twelve month period were $349 million and $4.82, respectively. Excluding unusual charges and discontinued operations, net earnings were $473 million and EPS was $6.55, an increase of 73% over the twelve month adjusted EPS results in 2012. For the twelve months ending December 31, 2012, net sales were approximately $5.8 billion, net earnings were $250 million and EPS was $3.61. Excluding unusual charges, net earnings and EPS were $262 million and $3.78, respectively.

Commenting on Mohawk Industries' fourth quarter performance, Jeffrey S. Lorberbaum, Chairman and CEO, stated, "Our fourth quarter results were better than projected primarily as a result of higher top-line growth in our U.S. ceramic business, a strong performance from our Pergo acquisition and lower interest expense due to an upgrade in our credit rating. Our legacy net sales increased approximately 6% as reported, with additional revenue growth from our recent acquisitions. As a result of improved product mix, increased productivity and SG&A management, our adjusted operating income for the quarter rose 260 basis points from last year to approximately 10% of net sales and for the year improved by 250 basis points to 9.4% of net sales. We believe we are well positioned for both revenue and earnings growth in 2014."

Carpet segment net sales for the quarter were $747 million, up 3% over last year, primarily due to strong performances of the Company's ultra-soft residential products and expansion of the polyester product line. Adjusted SG&A decreased both as a percentage of net sales as well as total expenses from cost reductions and improved execution. The segment's operating margins, excluding unusual charges, for the quarter were approximately 9% of net sales, an increase of 160 basis points from increased volumes, productivity gains, cost reduction and improved product mix. In residential, increased premium carpet sales improved our product mix, and polyester product sales rose substantially as our Continuum introductions gained traction across all channels. In commercial, margins expanded due to new product introductions and the use of performance fibers that enhance our value proposition. Productivity gains are positively impacting our margins, and we lowered costs through reduced changeover costs and waste, enhanced manufacturing alignment, quality improvements and material optimization.

Ceramic segment net sales for the quarter were $738 million, up 84% compared to the prior year, with strong growth from the Dal-Tile business and the Marazzi acquisition. During the period, operating margins, excluding unusual charges, grew 320 basis points to 10% of net sales as a result of higher volumes, efficiency gains and improved product mix. In the U.S., the integration of Dal-Tile and Marazzi has been completed, resulting in new collections with enhanced style and design as well as improved technologies across the business. In Mexico, the Company's ceramic business is increasing distribution, enhancing product mix and improving margins. In Russia, sales benefited from expanded participation in the new construction and home center channels, supported with unique products and dedicated sales teams. Restructuring the Company's ceramic business in Europe reduced cost structures, improved the sales organization through a geographic realignment and decreased manufacturing complexities.

Laminate and wood segment net sales for the quarter were $466 million, up 41% over last year, with most of that increase from growth in the U.S. and the acquisitions of Pergo and Spano. Operating margins, excluding unusual charges, were approximately 12% of net sales, up 260 basis points over the prior year due to lower SG&A, higher volume in North America and reduced amortization. The Unilin and Pergo laminate businesses have been fully integrated, reducing SG&A and improving operational efficiencies. The segment's U.S. wood business grew significantly during the quarter along with new home sales. Legacy European sales were about flat with the prior year on a local basis. Laminate flooring was down slightly in Europe, offset by growth in luxury vinyl tile (LVT). Construction of the Company's new LVT facility in Europe is underway, with production scheduled to commence by the end of 2014. All of Spano and Unilin's administrative and sales functions have now been consolidated. A Spano manufacturing facility was closed during the quarter and production was shifted into other operations.

"Through investments in acquisitions and capital expenditures, productivity improvements and product innovation, we have positioned Mohawk for growth and improved profitability in all segments during 2014," said Lorberbaum. "We have made excellent progress with integrating our acquisitions to maximize their market positions and improve their cost structures. In the U.S., Mohawk is the largest flooring provider with significant shares of the carpet, ceramic, laminate, wood, stone, rug and carpet underlay markets. We are well positioned to improve our results as new construction and remodeling expand in both the residential and commercial categories. In Europe, we continue to lower our cost structure, enhance productivity and improve our product offerings to position the Company for future growth as the industry improves from its cyclical bottom. This year, we anticipate growing both our sales and margins in our legacy businesses and recent acquisitions. We continue to assess additional acquisition opportunities in flooring products around the world to further expand the business. With these factors, our guidance for first quarter earnings is $1.13 to $1.19 per share, excluding any restructuring charges. Our first quarter results are seasonally our lowest and in the past four years represented about 1/7th of our total annual earnings. While the weather in the first half of this quarter has impacted the timing of some of our U.S. orders and shipments, our first quarter results are expected to be in line with normal seasonal patterns. We anticipate orders improving and our backlog declining, limiting the impact on the quarter.

"We are optimistic about the future of the flooring industry and our participation in it. This year, we anticipate increasing capital investments in our businesses to support additional growth, expand our product offerings and reduce costs. We will continue driving all aspects of our business to improve profits and increase shareholder value."

Mohawk Industries is the leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world. Mohawk's vertically integrated manufacturing and distribution processes provide competitive advantages in the production of carpet, rugs, ceramic tile, laminate, wood, stone and vinyl flooring. Our industry-leading innovation has yielded products and technologies that differentiate our brands in the marketplace and satisfy all remodeling and new construction requirements. Our brands are among the most recognized in the industry and include American Olean, Bigelow, Daltile, Durkan, Karastan, Lees, Marazzi, Kerama Marazzi, Mohawk, Pergo, Unilin and Quick-Step. During the past decade, Mohawk has transformed its business from an American carpet manufacturer into the world's largest flooring company with operations in Australia, Brazil, Canada, China, Europe, India, Malaysia, Mexico, Russia and the United States.

Certain of the statements in the immediately preceding paragraphs, particularly anticipating future performance, business prospects, growth and operating strategies and similar matters and those that include the words "could," "should," "believes," "anticipates," "expects," and "estimates," or similar expressions constitute "forward-looking statements." For those statements, Mohawk claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. There can be no assurance that the forward-looking statements will be accurate because they are based on many assumptions, which involve risks and uncertainties. The following important factors could cause future results to differ: changes in economic or industry conditions; competition; inflation in raw material prices and other input costs; energy costs and supply; timing and level of capital expenditures; timing and implementation of price increases for the Company's products; impairment charges; integration of acquisitions; international operations; introduction of new products; rationalization of operations; tax, product and other claims; litigation; and other risks identified in Mohawk's SEC reports and public announcements.

Conference call Friday, February 21, 2014 at 11:00 AM Eastern Time
The telephone number is 1-800-603-9255 for US/Canada and 1-706-634-2294 for International/Local.
Conference ID # 31815143. A replay will be available until Wednesday, March 5, 2014 by dialing 1-855-859-2056 for US/local calls and 1-404-537-3406 for International/Local calls and entering Conference ID # 31815143.


MOHAWK INDUSTRIES, INC. AND SUBSIDIARIES










Consolidated Statement of Operations


Three Months Ended


Twelve Months Ended

(Amounts in thousands, except per share data)


December 31, 2013


December 31, 2012


December 31, 2013


December 31, 2012










Net sales


$          1,924,104


1,435,659


7,348,754


5,787,980

Cost of sales


1,411,307


1,066,328


5,427,945


4,297,922

Gross profit


512,797


369,331


1,920,809


1,490,058

Selling, general and administrative expenses


361,809


273,471


1,373,878


1,110,550

Operating income


150,988


95,860


546,931


379,508

Interest expense


22,148


15,402


92,246


74,713

Other expense, net


2,656


1,366


9,114


303

Earnings from continuing operations before income taxes


126,184


79,092


445,571


304,492

Income tax expense


15,420


12,703


78,385


53,599

Earnings from continuing operations


110,764


66,389


367,186


250,893

Loss from discontinued operations, net of income tax benefit of $268 and $1,050


(15,981)


-


(17,895)


-

Net earnings including noncontrolling interest


94,783


66,389


349,291


250,893

Net earnings attributable to noncontrolling interest


132


-


505


635

Net earnings attributable to Mohawk Industries, Inc.


$              94,651


66,389


348,786


250,258










Basic earnings per share attributable to Mohawk Industries, Inc.









  Income from continuing operations 


$                1.52


0.96


5.11


3.63

  Loss from discontinued operations, net of income taxes


(0.22)


-


(0.25)


-

Basic earnings per share attributable to Mohawk Industries, Inc.


$                1.30


0.96


4.86


3.63

Weighted-average common shares outstanding - basic


72,654


69,095


71,773


68,988










Diluted earnings per share attributable to Mohawk Industries, Inc.









  Income from continuing operations 


$                1.51


0.95


5.07


3.61

  Loss from discontinued operations, net of income taxes


(0.22)


-


(0.25)


-

Diluted earnings per share attributable to Mohawk Industries, Inc.


$                1.29


0.95


4.82


3.61

Weighted-average common shares outstanding - diluted


73,214


69,536


72,301


69,306




























Other Financial Information









(Amounts in thousands)









Net cash provided by  operating activities


$            198,190


289,043


525,163


587,590

Depreciation and amortization


$             86,329


63,878


308,871


280,293

Capital expenditures


$            111,027


73,296


366,550


208,294












Consolidated Balance Sheet Data









(Amounts in thousands)















December 31, 2013


December 31, 2012

ASSETS









Current assets:









    Cash and cash equivalents






$             54,066


477,672

    Receivables, net






1,062,875


679,473

    Inventories






1,572,325


1,133,736

    Prepaid expenses and other current assets






248,918


147,580

    Deferred income taxes 






147,534


111,585

        Total current assets






3,085,718


2,550,046

Property, plant and equipment, net






2,701,743


1,692,852

Goodwill






1,736,092


1,385,771

Intangible assets, net






811,602


553,799

Deferred income taxes and other non-current assets






159,022


121,216

    Total assets






$          8,494,177


6,303,684

LIABILITIES AND STOCKHOLDERS' EQUITY









Current liabilities:









Current portion of long-term debt






$            127,218


55,213

Accounts payable and accrued expenses






1,193,593


773,436

        Total current liabilities






1,320,811


828,649

Long-term debt, less current portion






2,132,790


1,327,729

Deferred income taxes and other long-term liabilities






570,270


427,689

        Total liabilities






4,023,871


2,584,067

Total stockholders' equity






4,470,306


3,719,617

    Total liabilities and stockholders' equity






$          8,494,177


6,303,684












Segment Information


Three Months Ended


As of or for the Twelve Months Ended


(Amounts in thousands)


December 31, 2013


December 31, 2012


December 31, 2013


December 31, 2012












Net sales:










    Carpet


$            747,143


725,895


2,986,096


2,912,055


    Ceramic


738,004


401,637


2,677,058


1,616,383


    Laminate and Wood


466,082


329,969


1,792,260


1,350,349


    Intersegment sales


(27,125)


(21,842)


(106,660)


(90,807)


        Consolidated net sales


$          1,924,104


1,435,659


7,348,754


5,787,980












Operating income (loss):










    Carpet


$             60,087


51,968


209,023


158,196


    Ceramic


57,637


21,039


209,825


120,951


    Laminate and Wood


40,290


29,796


159,365


126,409


    Corporate and eliminations


(7,026)


(6,943)


(31,282)


(26,048)


        Consolidated operating income


$            150,988


95,860


546,931


379,508












Assets:










    Carpet






$          1,786,085


1,721,214


    Ceramic






3,787,785


1,731,258


    Laminate and Wood






2,716,759


2,672,389


    Corporate and eliminations






203,548


178,823


        Consolidated assets






$          8,494,177


6,303,684


























Reconciliation of Net Earnings Attributable to Mohawk Industries, Inc. to Adjusted Net Earnings Attributable to Mohawk Industries, Inc. and Adjusted Diluted Earnings Per Share Attributable to Mohawk Industries, Inc.

(Amounts in thousands, except per share data)


Three Months Ended


Twelve Months Ended


December 31, 2013


December 31, 2012


December 31, 2013


December 31, 2012

Net earnings attributable to Mohawk Industries, Inc.

$              94,651


66,389


348,786


250,258

Adjusting items:








Restructuring, acquisition and integration-related costs

37,812


6,109


113,420


18,564

Acquisitions purchase accounting (inventory step-up)

-


-


31,041


-

Discontinued operations

16,249


-


18,945


-

Deferred loan costs

-


-


490


-

Interest on 3.85% senior notes

-


-


3,559


-

Income taxes

(17,621)


(2,111)


(42,841)


(7,003)

Adjusted net earnings attributable to Mohawk Industries, Inc.

$            131,091


70,387


473,400


261,819









Adjusted diluted earnings per share attributable to Mohawk Industries, Inc. 

1.79


1.01


6.55


3.78

Weighted-average common shares outstanding - diluted

73,214


69,536


72,301


69,306











Reconciliation of Operating Cash Flow to Free Cash Flow

(Amounts in thousands)






Three Months Ended




December 31, 2013

Net cash provided by operating activities

$             198,190

Less:  Capital expenditures

111,027

  Free cash flow


$              87,163







Reconciliation of Total Debt to Net Debt



(Amounts in thousands)







December 31, 2013

Current portion of long-term debt


$             127,218

Long-term debt, less current portion


2,132,790

Less: Cash and cash equivalents


54,066

Net Debt


$           2,205,942



Reconciliation of Operating Income to Proforma Adjusted EBITDA









(Amounts in thousands)













Three Months Ended


Trailing Twelve
Months Ended

March 30, 2013


June 29, 2013


September 28, 2013


December 31, 2013


December 31, 2013

Operating income

$              86,842


133,198


175,903


150,988


546,931

Other (expense) income

(6,387)


1,097


(1,168)


(2,656)


(9,114)

    Net (earnings) loss attributable to noncontrolling interest

(72)


190


(491)


(132)


(505)

Depreciation and amortization

60,349


80,643


81,550


86,329


308,871

EBITDA

140,732


215,128


255,794


234,529


846,183

Restructuring, acquisition and integration-related costs

9,856


41,321


24,431


37,812


113,420

Acquisitions purchase accounting (inventory step-up)

-


18,744


12,297


-


31,041

 Acquisitions EBITDA

43,072


-


-


-


43,072

 Proforma Adjusted EBITDA 

$             193,660


275,193


292,522


272,341


1,033,716











Net Debt to Proforma Adjusted EBITDA









2.1















Reconciliation of Net Sales to Net Sales on a Constant Exchange Rate







(Amounts in thousands)












Three Months Ended


Twelve Months Ended





December 31, 2013


December 31, 2012


December 31, 2013


December 31, 2012

Net sales

$           1,924,104


1,435,659


7,348,754


5,787,980

Adjustment to net sales on a constant exchange rate

(12,250)


-


(34,536)


-

Net sales on a constant exchange rate

$           1,911,854


1,435,659


7,314,218


5,787,980















Reconciliation of Gross Profit to Adjusted Gross Profit 

(Amounts in thousands)







Three Months Ended




December 31, 2013


December 31, 2012

Gross Profit

$             512,797


369,331

Adjustments to gross profit:




Restructuring and integration-related costs

16,707


5,197

  Adjusted gross profit

$             529,504


374,528

   Adjusted gross profit as a percent of net sales

27.5%


26.1%



Reconciliation of Selling, General and Administrative Expenses to Adjusted Selling, General and Administrative Expenses

(Amounts in thousands)








Three Months Ended





December 31, 2013


December 31, 2012

Selling, general and administrative expenses

$             361,809


273,471

Adjustments to selling, general and administrative expenses:




Restructuring, acquisition and integration-related costs

(19,644)


(912)

  Adjusted selling, general and administrative expenses

$             342,165


272,559

Adjusted selling, general and administrative expenses as a percent of net sales

17.8%


19.0%










Reconciliation of Segment Selling, General and Administrative Expenses to Adjusted Segment Selling, General and Administrative Expenses

(Amounts in thousands)





Three Months Ended

Carpet




December 31, 2013


December 31, 2012

Selling, general and administrative expenses


$             120,808


118,417

Adjustments to selling, general and administrative expenses:





Restructuring, acquisition and integration-related costs


(3,487)


-

  Adjusted selling, general and administrative expenses


$             117,321


118,417

Adjusted selling, general and administrative expenses as a percent of net sales

15.7%


16.3%











Reconciliation of Operating Income to Adjusted Operating Income 

(Amounts in thousands)


Three Months Ended


Twelve Months Ended


December 31, 2013


December 31, 2012


December 31, 2013


December 31, 2012

Operating income


$             150,988


95,860


546,931


379,508

Adjustment to operating income:









Restructuring, acquisition and integration-related costs


36,351


6,109


111,939


18,564

Acquisitions purchase accounting (inventory step-up)


-


-


31,041


-

  Adjusted operating income


$             187,339


101,969


689,911


398,072

   Adjusted operating margin as a percent of net sales


9.7%


7.1%


9.4%


6.9%












Reconciliation of Segment Operating Income to Adjusted Segment Operating Income 

(Amounts in thousands)


Three Months Ended


Twelve Months Ended

Carpet

December 31, 2013


December 31, 2012


December 31, 2013


December 31, 2012

Operating income

$              60,087


51,968


209,023


158,196

Adjustment to segment operating income:








Restructuring, acquisition and integration-related costs

6,005


-


13,603


10,504

  Adjusted segment operating income

$              66,092


51,968


222,626


168,700

   Adjusted operating margin as a percent of net sales

8.8%


7.2%


7.5%


5.8%











Reconciliation of Segment Operating Income to Adjusted Segment Operating Income 

(Amounts in thousands)


Three Months Ended


Twelve Months Ended

Ceramic

December 31, 2013


December 31, 2012


December 31, 2013


December 31, 2012

Operating income

$              57,637


21,039


209,825


120,951

Adjustment to segment operating income:








Restructuring, acquisition and integration-related costs

15,982


6,109


42,876


6,109

Acquisitions purchase accounting (inventory step-up)

-


-


31,041


-

  Adjusted segment operating income

$              73,619


27,148


283,742


127,060

   Adjusted operating margin as a percent of net sales

10.0%


6.8%


10.6%


7.9%




Reconciliation of Segment Operating Income to Adjusted Segment Operating Income 

(Amounts in thousands)


Three Months Ended


Twelve Months Ended

Laminate and Wood

December 31, 2013


December 31, 2012


December 31, 2013


December 31, 2012

Operating income

$              40,290


29,796


159,365


126,409

Adjustment to segment operating income:








Restructuring, acquisition and integration-related costs

13,852


-


54,235


1,951

  Adjusted segment operating income

$              54,142


29,796


213,600


128,360

   Adjusted operating margin as a percent of net sales

11.6%


9.0%


11.9%


9.5%












Reconciliation of Earnings from Continuing Operations Before Income Taxes to Adjusted Earnings from Continuing Operations Before Income Taxes

(Amounts in thousands)


Three Months Ended


December 31, 2013


December 31, 2012

Earnings from continuing operations before income taxes

$             126,184


79,092

Adjustment to earnings from continuing operations before income taxes:




Restructuring, acquisition and integration-related costs

37,812


6,109

  Adjusted earnings before income taxes

$             163,996


85,201





Reconciliation of Income Tax Expense to Adjusted Income Tax Expense 

(Amounts in thousands)


Three Months Ended


December 31, 2013


December 31, 2012

Income tax expense 

$              15,420


12,703

Income tax effect of adjusting items

17,353


2,111

  Adjusted income tax expense

$              32,773


14,814





Adjusted income tax rate

20%


17%





The Company believes it is useful for itself and investors to review, as applicable, both GAAP and the

above non-GAAP measures in order to assess the performance of the Company's business for 

planning and forecasting in subsequent periods.

In particular, the Company believes excluding the impact of Restructuring, acquisition and integration-related costs is useful because it allows investors to evaluate our performance for different periods on a more comparable basis.





More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
Recognizing the need to identify and validate information security professionals’ competency in securing cloud services, the two leading membership organizations focused on cloud and information security, the Cloud Security Alliance (CSA) and (ISC)^2, joined together to develop an international cloud security credential that reflects the most current and comprehensive best practices for securing and optimizing cloud computing environments.
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...