Welcome!

News Feed Item

Pall Corporation Reports Second Quarter Results

Pall Corporation (NYSE:PLL) today reported financial results for the second quarter ended January 31, 2014.

Second Quarter and Six Months Continuing Operations Sales and Earnings Overview (1)

Second quarter sales were $677.0 million compared to $662.5 million last year. Sales in local currency (“LC”) were up 4%. Diluted EPS were $0.75 in the quarter, compared to $0.70 last year. Pro forma diluted EPS(1) were $0.82, a 12% increase compared to $0.73 a year earlier, including a negative impact of approximately $0.04 from foreign currency translation.

Sales in the six months were $1.3 billion, an increase of 1% year over year. Sales in LC were up 3%. Diluted EPS were $1.38 in the six months, compared to $1.48 last year. Pro forma diluted EPS(1) were $1.52, an 8% increase compared to $1.41 a year earlier, including a negative impact of approximately $0.06 from foreign currency translation.

Larry Kingsley, Pall Chairman and CEO, said, “We delivered a very solid second quarter, keeping us firmly on track to achieve the plan for the year. Solid execution and better fixed cost management drove the strong incremental margins, which more than offset the significant foreign currency headwinds we faced.”

 

Life Sciences – Second Quarter Highlights

 
(Dollar Amounts in Millions and Discussion of Sales Changes are in Local Currency)
       

Sales:

JAN. 31, 2014 JAN. 31, 2013

%
CHANGE

% CHANGE IN
LC

BioPharmaceuticals $ 218 $ 202 8 9
Food & Beverage 44 45 (3 ) (0 )
Medical   57   53 6 7
Total Consumables 319 300 6 7
Systems   34   29 17 20
Total Life Sciences segment $ 353 $ 329 7 8
 
Gross profit $ 200 $ 192
% of sales 56.6 58.4
Segment profit $ 91 $ 82
% of sales 25.7 25.1
 

BioPharmaceuticals: Consumables sales grew 9% compared to last year, on overall market strength and growth in single-use systems.

Food and Beverage: Consumables sales were flat compared to last year after a strong first quarter.

Medical: Consumables sales grew 7% compared to last year, on OEM medical sales from our recently acquired Medistad division, and strength in water products for hospital critical care applications.

Systems: Sales grew 20% compared to last year, largely due to the timing of Food & Beverage projects.

 

Industrial – Second Quarter Highlights

 
(Dollar Amounts in Millions and Discussion of Sales Changes are in Local Currency)
       

Sales:

JAN. 31, 2014 JAN. 31, 2013

%
CHANGE

% CHANGE IN
LC

Process Technologies $ 140 $ 143 (2 ) (0 )
Aerospace 53 61 (12 ) (12 )
Microelectronics   77   68 13 19
Total Consumables 270 272 (1 ) 2
Systems   54   61 (12 ) (9 )
Total Industrial segment $ 324 $ 333 (3 ) 0
 
Gross profit $ 144 $ 150
% of sales 44.5 45.0
Segment profit $ 47 $ 48
% of sales 14.5 14.4
 

Process Technologies: Consumables sales were flat compared to last year, on strength in Power Generation and Machinery & Equipment offset by weakness in Fuels & Chemicals.

Aerospace: Consumables sales decreased 12% compared to last year, on large aftermarket sales in Q2 of last year that did not repeat.

Microelectronics: Consumables sales grew 19% compared to last year, on continued market strength and new business wins in all regions.

Systems: Sales decreased 9% compared to last year, primarily due to timing of capital spend in Fuels & Chemicals.

Conclusion/Outlook

Kingsley concluded, “Given our solid operating performance and our strong order rates, we are tightening our EPS guidance range while maintaining our original mid-point. We now expect full year pro forma EPS to be between $3.35 and $3.45—which includes the absorption of approximately 10 cents of EPS headwind from the ATMI LifeSciences acquisition and translational foreign currency.” (1)

Conference Call

On Thursday, February 27, 2014, at 8:30 am ET, Pall Corporation will host a conference call to review these results. The call can be accessed at www.pall.com/investor. The webcast will be archived for 30 days.

About Pall Corporation

Pall Corporation (NYSE:PLL) is a filtration, separation and purification leader providing solutions to meet the critical fluid management needs of customers across the broad spectrum of life sciences and industry. Pall works with customers to advance health, safety and environmentally responsible technologies. The Company’s engineered products enable process and product innovation and minimize emissions and waste. Pall Corporation is an S&P 500 company serving customers worldwide. Follow us on Twitter @PallCorporation or visit www.pall.com.

Forward-Looking Statements

The matters discussed in this press release contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Results for the second quarter of fiscal year 2014 are preliminary until our Form 10-Q is filed with the Securities and Exchange Commission on or before March 12, 2014. Forward-looking statements are those that address activities, events or developments that the Company or management intends, expects, projects, believes or anticipates will or may occur in the future. All statements regarding future performance, earnings projections, earnings guidance, management’s expectations about its future cash needs, dilution from the disposition or future allocation of capital and effective tax rate, and other future events or developments are forward-looking statements. Forward-looking statements are those that use terms such as “may,” “will,” “expect,” “believe,” “intend,” “should,” “could,” “anticipate,” “estimate,” “forecast,” “project,” “plan,” “predict,” “potential,” and similar expressions. Forward-looking statements contained in this and other written and oral reports are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors.

The Company’s forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance, and actual results, developments and business decisions may differ materially from those envisaged by the Company’s forward-looking statements. Such risks and uncertainties include, but are not limited to, those discussed in Part I, Item 1A, “Risk Factors” in the 2013 Form 10-K, and other reports the Company files with the Securities and Exchange Commission, including: the impact of disruptions in the supply of raw materials and key components from suppliers, including limited or single source suppliers; the impact of terrorist acts, conflicts and wars or natural disasters; the extent to which special U.S. and foreign government laws and regulations may expose the Company to liability or impair its ability to compete in international markets; the impact of economic, political, social and regulatory instability in emerging markets, and other risks characteristic of doing business in emerging markets; fluctuations in foreign currency exchange rates and interest rates; the impact of a significant disruption in, or breach in security of, the Company’s information technology systems, or the failure to implement, manage or integrate new systems, software or technologies successfully; the Company’s ability to successfully complete or integrate acquisitions; the Company’s ability to develop innovative and competitive new products; the impact of global and regional economic conditions and legislative, regulatory and political developments; the Company’s ability to comply with a broad array of regulatory requirements; the loss of one or more members of the Company’s senior management team and its ability to recruit and retain qualified management personnel; changes in the demand for the Company’s products and the maintenance of business relationships with key customers; changes in product mix and product pricing, particularly with respect to systems products and associated hardware and devices for the Company’s consumable filtration products; product defects and unanticipated use or inadequate disclosure with respect to the Company’s products; the Company’s ability to deliver its backlog on time; increases in manufacturing and operating costs and/or the Company’s ability to achieve the savings anticipated from its structural cost improvement initiatives; the impact of environmental, health and safety laws and regulations and violations; the Company’s ability to enforce patents or protect proprietary products and manufacturing techniques; costs and outcomes of pending or future litigation and the availability of insurance or indemnification rights; changes in the Company’s effective tax rate; the Company’s ability to compete effectively in domestic and global markets; and the effect of the restrictive covenants in the Company’s debt facilities. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company makes these statements as of the date of this disclosure and undertakes no obligation to update them, whether as a result of new information, future developments or otherwise.

Management uses certain non-GAAP measurements to assess the Company’s current and future financial performance. The non-GAAP measurements do not replace the presentation of the Company’s GAAP financial results. These measurements provide supplemental information to assist management in analyzing the Company’s financial position and results of operations. The Company has chosen to provide this information to facilitate meaningful comparisons of past, present and future operating results and as a means to emphasize the results of ongoing operations.

Notes to Release:

 
(1) Pro forma diluted EPS are defined as Reported diluted EPS on a continuing operations basis adjusted for “Discrete Items.” Discrete items are defined as Restructuring & Other Charges (ROTC) and other items that are deemed to be non-recurring in nature and/or not considered by management to be indicative of underlying operating performance. A reconciliation of Reported to Pro forma amounts can be found in the Reconciliation of Pro forma Earnings table accompanying this release.
 
(2) Cash flows in the six months ended January 31, 2013 are inclusive of discontinued operations.
 
         
PALL CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Amounts in Thousands)
 
JAN. 31, 2014 JUL. 31, 2013
 
Assets:
 
Cash and cash equivalents $ 951,834 $ 936,886
Accounts receivable 536,755 566,335
Inventories 394,865 381,047
Other current assets   155,395   165,761
Total current assets   2,038,849   2,050,029
 
Property, plant and equipment 789,342 774,948
Other assets   645,323   647,862
Total assets $ 3,473,514 $ 3,472,839
 
Liabilities and Stockholders' Equity:
 
Short-term debt $ 305,335 $ 170,387
Accounts payable, income taxes and other current liabilities   471,929   558,684
Total current liabilities 777,264 729,071
 
Long-term debt, net of current portion 463,674 467,319
Deferred taxes and other non-current liabilities   485,548   461,493
Total liabilities 1,726,486 1,657,883
 
Stockholders' equity   1,747,028   1,814,956
Total liabilities and stockholders' equity $ 3,473,514 $ 3,472,839
 
                 
PALL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(Amounts in Thousands, Except Per Share Data)
 
 
SECOND QUARTER ENDED SIX MONTHS ENDED
JAN. 31, 2014 JAN. 31, 2013 JAN. 31, 2014 JAN. 31, 2013
 
Net sales $ 676,969 $ 662,455 $ 1,306,748 $ 1,290,055
Cost of sales   332,710     320,492     636,775     621,009  
Gross profit   344,259     341,963     669,973     669,046  
% of sales 50.9 % 51.6 % 51.3 % 51.9 %
Selling, general and administrative expenses 196,299 206,009 391,183 401,974
% of sales 29.0 % 31.1 % 29.9 % 31.2 %
Research and development   24,979     23,399     48,246     45,974  
Operating profit 122,981 112,555 230,544 221,098
% of sales 18.2 % 17.0 % 17.6 % 17.1 %
Restructuring and other charges ("ROTC") (a) 9,170 4,399 18,368 8,673
Interest expense, net (c)   5,195     6,017     11,172     5,449  
Earnings from continuing operations before income taxes 108,616 102,139 201,004 206,976
Provision for income taxes (b)   24,950     21,820     45,825     37,492  
Net earnings from continuing operations $ 83,666 $ 80,319 $ 155,179 $ 169,484
Earnings/(loss) from discontinued operations, net of income taxes   -     (3,549 )   -     246,758  
Net Earnings $ 83,666   $ 76,770   $ 155,179   $ 416,242  
 
Average shares outstanding:
Basic 110,720 112,420 111,263 113,398
Diluted 111,980 113,809 112,532 114,784
 

Earnings/(loss) per share:

From continuing operations:
Basic $ 0.76 $ 0.71 $ 1.39 $ 1.49
Diluted $ 0.75 $ 0.70 $ 1.38 $ 1.48
 
From discontinued operations:
Basic $ - $ (0.03 ) $ - $ 2.18
Diluted $ -   $ (0.03 ) $ -   $ 2.15  
 
Total
Basic $ 0.76 $ 0.68 $ 1.39 $ 3.67
Diluted $ 0.75   $ 0.67   $ 1.38   $ 3.63  
 

Pro forma diluted earnings per share:

From continuing operations $ 0.82   $ 0.73   $ 1.52   $ 1.41  
 
                 
PALL CORPORATION
RECONCILIATION OF PRO FORMA EARNINGS

(Unaudited)

(Amounts in Thousands, Except Per Share Data)
 
 

SECOND QUARTER ENDED

SIX MONTHS ENDED
JAN. 31, 2014 JAN. 31, 2013 JAN. 31, 2014 JAN. 31, 2013
 

Pro forma earnings reconciliation from continuing
operations

Net earnings from continuing operations as reported $ 83,666 $ 80,319 $ 155,179 $ 169,484
Discrete items:
ROTC, after pro forma tax effect (a) 8,265 3,122 15,783 6,962
Tax adjustments (b) - - - (10,193 )

Interest adjustments, after pro forma
tax effect (c)

  -   -   -   (4,268 )
Total discrete items   8,265   3,122   15,783   (7,499 )

Pro forma earnings from continuing operations

$ 91,931 $ 83,441

$

170,962

$

161,985  
 
FISCAL YEAR

SECOND QUARTER ENDED

SIX MONTHS ENDED 2014 (ESTIMATE
JAN. 31, 2014 JAN. 31, 2013 JAN. 31, 2014 JAN. 31, 2013 AT MIDPOINT)
 

Diluted earnings per share from continuing
operations as reported

$ 0.75 $ 0.70 $ 1.38 $ 1.48 $ 3.26
Discrete items:
ROTC, after pro forma tax effect (a) 0.07 0.03 0.14 0.06 0.14
Tax adjustments (b) - - - (0.09 ) -

Interest adjustments, after pro forma
tax effect (c)

  -   -   -   (0.04 )   -
Total discrete items   0.07   0.03   0.14   (0.07 )   0.14

Pro forma diluted earnings per share from
continuing operations

$ 0.82 $ 0.73 $ 1.52 $ 1.41   $ 3.40
 

Pro forma earnings measures exclude the items described below as they are deemed to be non-recurring in nature and/or not considered by management to be indicative of underlying operating performance. The pro forma tax effects disclosed were calculated using applicable entity-specific tax rates.

(a) ROTC in the quarter and six months ended January 31, 2014 of $9,170 ($8,265 after pro forma tax effect of $905) and $18,368 ($15,783 after pro forma tax effect of $2,585), respectively primarily includes severance costs related to the Company's structural cost improvement initiative. The six months ended January 31, 2014 also includes an increase to environmental reserves.

ROTC in the quarter and six months ended January 31, 2013 of $4,399 ($3,122 after pro forma tax effect of $1,277) and $8,673 ($6,962 after pro forma tax effect of $1,711), respectively primarily includes costs related to the Company's structural cost improvement initiative.

(b) Provision for income taxes in the six months ended January 31, 2013 includes a net benefit of $10,193 related to the resolution of a U.S. tax audit partially offset by the tax cost of repatriation of foreign earnings.

(c) Interest expense, net, in the six months ended January 31, 2013 includes the reversal of accrued interest of $6,704 ($4,268 after pro forma tax effect of $2,436) related to the resolution of a U.S. tax audit as described in (b) above.

         
PALL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Amounts in Thousands)
 
 
SIX MONTHS ENDED
JAN. 31, 2014 JAN. 31, 2013

 (2)

 
Net cash provided by operating activities $ 205,595   $ 89,382  
 
Investing activities:
 
Acquisitions of businesses (5,299 ) -
Capital expenditures (34,663 ) (42,403 )
Proceeds from sale of assets 1,953 542,088
Other   2,356     1,062  
Net cash provided/(used) by investing activities   (35,653 )   500,747  
 
Financing activities:
 
Dividends paid (58,408 ) (52,634 )
Notes payable and long-term borrowings/(repayments) 130,661 29,800
Purchase of treasury stock (250,000 ) (250,000 )
Other   16,574     33,049  
Net cash used by financing activities   (161,173 )   (239,785 )
 
Cash flow for period 8,769 350,344
Cash and cash equivalents at beginning of year 936,886 500,274
Effect of exchange rate changes on cash   6,179     19,614  
Cash and cash equivalents at end of period $ 951,834   $ 870,232  
 
 

Free cash flow:

Net cash provided by operating activities $ 205,595 $ 89,382
Less capital expenditures   34,663     42,403  
Free cash flow $ 170,932   $ 46,979  
 
                 
PALL CORPORATION
SUMMARY SEGMENT PROFIT BY SEGMENT FROM CONTINUING OPERATIONS
(Unaudited)
(Dollar Amounts in Thousands)
 
 
SECOND QUARTER ENDED SIX MONTHS ENDED
JAN. 31, 2014 JAN. 31, 2013 JAN. 31, 2014 JAN. 31, 2013
 

Life Sciences

Sales $ 353,230 $ 329,182 $ 672,176 $ 629,133
Cost of sales   153,167     137,046     290,034     261,043  
Gross profit 200,063 192,136 382,142 368,090
% of sales 56.6 % 58.4 % 56.9 % 58.5 %
 
Selling, general and administrative expenses 92,959 94,414 187,050 185,319
% of sales 26.3 % 28.7 % 27.8 % 29.5 %
Research and development   16,248     15,245     31,191     30,452  
Segment profit $ 90,856   $ 82,477   $ 163,901   $ 152,319  
% of sales 25.7 % 25.1 % 24.4 % 24.2 %
 

Industrial

Sales

$

323,739 $ 333,273 $ 634,572 $ 660,922
Cost of sales   179,543     183,446     346,741     359,966  
Gross profit 144,196 149,827 287,831 300,956
% of sales 44.5 % 45.0 % 45.4 % 45.5 %
 
Selling, general and administrative expenses 88,574 93,569 173,403 184,564
% of sales 27.4 % 28.1 % 27.3 % 27.9 %
Research and development   8,731     8,154     17,055     15,522  
Segment profit $ 46,891   $ 48,104   $ 97,373   $ 100,870  
% of sales 14.5 % 14.4 % 15.3 % 15.3 %
 

Consolidated:

Segment profit $ 137,747 $ 130,581 $ 261,274 $ 253,189
Corporate services group   14,766     18,026     30,730     32,091  
Operating profit 122,981 112,555 230,544 221,098
% of sales 18.2 % 17.0 % 17.6 % 17.1 %
ROTC 9,170 4,399 18,368 8,673
Interest expense, net   5,195     6,017     11,172     5,449  

Earnings from continuing operations before
income taxes

$ 108,616   $ 102,139   $ 201,004   $ 206,976  
 
                   
PALL CORPORATION
SUPPLEMENTAL SEGMENT SALES INFORMATION BY PRODUCT/MARKET AND REGION
FROM CONTINUING OPERATIONS
(Unaudited)
 
 
EXCHANGE % CHANGE
RATE IN LOCAL
SECOND QUARTER ENDED JAN. 31, 2014 JAN. 31, 2013 % CHANGE IMPACT CURRENCY
 

Life Sciences

|-------------- Increase/(Decrease) -------------|
By Product/Market:
BioPharmaceuticals $ 218,625 $ 201,657 8.4 $ (1,387 ) 9.1
Food & Beverage 44,054 45,287 (2.7 ) (1,044 ) (0.4 )
Medical   56,660   53,292 6.3   (149 ) 6.6
Total Consumables 319,339 300,236 6.4 (2,580 ) 7.2
Systems   33,891   28,946 17.1   (844 ) 20.0
Total Life Sciences $ 353,230 $ 329,182 7.3 $ (3,424 ) 8.3
 
By Region:
Americas $ 102,313 $ 104,018 (1.6 ) $ (2,458 ) 0.7
Europe 186,825 159,360 17.2 4,915 14.2
Asia   64,092   65,804 (2.6 )   (5,881 ) 6.3
Total Life Sciences $ 353,230 $ 329,182 7.3 $ (3,424 ) 8.3
 
 

Industrial

By Product/Market:
Process Technologies $ 139,664 $ 143,146 (2.4 ) $ (3,070 ) (0.3 )
Aerospace 53,322 60,578 (12.0 ) 177 (12.3 )
Microelectronics   76,976   68,264 12.8   (4,568 ) 19.5
Total Consumables 269,962 271,988 (0.7 ) (7,461 ) 2.0
Systems   53,777   61,285 (12.3 )   (2,285 ) (8.5 )
Total Industrial $ 323,739 $ 333,273 (2.9 ) $ (9,746 ) 0.1
 
By Region:
Americas $ 107,843 $ 105,636 2.1 $ (1,289 ) 3.3
Europe 96,805 105,502 (8.2 ) 1,893 (10.0 )
Asia   119,091   122,135 (2.5 )   (10,350 ) 6.0
Total Industrial $ 323,739 $ 333,273 (2.9 ) $ (9,746 ) 0.1
 
                   

PALL CORPORATION

SUPPLEMENTAL SEGMENT SALES INFORMATION BY PRODUCT/MARKET AND REGION

FROM CONTINUING OPERATIONS

(Unaudited)
(Dollar Amounts in Thousands)
 
EXCHANGE % CHANGE
RATE IN LOCAL
SIX MONTHS ENDED JAN. 31, 2014 JAN. 31, 2013 % CHANGE IMPACT CURRENCY
 

Life Sciences

|-------------- Increase/(Decrease) -------------|
By Product/Market:
BioPharmaceuticals $ 414,743 $ 388,898 6.6 $ (2,376 ) 7.3
Food & Beverage 87,623 86,833 0.9 (1,583 ) 2.7
Medical   112,377   100,874 11.4   150   11.3
Total Consumables 614,743 576,605 6.6 (3,809 ) 7.3
Systems   57,433   52,528 9.3   (600 ) 10.5
Total Life Sciences $ 672,176 $ 629,133 6.8 $ (4,409 ) 7.5
 
By Region:
Americas $ 200,089 $ 201,816 (0.9 ) $ (3,665 ) 1.0
Europe 348,755 303,025 15.1 11,261 11.4
Asia   123,332   124,292 (0.8 )   (12,005 ) 8.9
Total Life Sciences $ 672,176 $ 629,133 6.8 $ (4,409 ) 7.5
 
 

Industrial

By Product/Market:
Process Technologies $ 264,742 $ 293,115 (9.7 ) $ (4,899 ) (8.0 )
Aerospace 112,093 116,488 (3.8 ) 352 (4.1 )
Microelectronics   148,392   138,446 7.2   (9,442 ) 14.0
Total Consumables 525,227 548,049 (4.2 ) (13,989 ) (1.6 )
Systems   109,345   112,873 (3.1 )   (2,437 ) (1.0 )
Total Industrial $ 634,572 $ 660,922 (4.0 ) $ (16,426 ) (1.5 )
 
By Region:
Americas $ 208,418 $ 210,309 (0.9 ) $ (2,171 ) 0.1
Europe 195,501 204,179 (4.3 ) 5,004 (6.7 )
Asia   230,653   246,434 (6.4 )   (19,259 ) 1.4
Total Industrial $ 634,572 $ 660,922 (4.0 ) $ (16,426 ) (1.5 )

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that CA Technologies has been named “Platinum 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, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Auditwerx 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. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
HyperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let’s say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
SYS-CON Events announced today that Loom Systems 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. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
FinTech is the sum of financial and technology, and it’s one of the fastest growing tech industries. Total global investments in FinTech almost reached $50 billion last year, but there is still a great deal of confusion over what it is and what it means – especially as it applies to retirement. Building financial startups is not simple, but with the right team, technology and an innovative approach it can be an extremely interesting domain to disrupt. FinTech heralds a financial revolution that...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Imagine having the ability to leverage all of your current technology and to be able to compose it into one resource pool. Now imagine, as your business grows, not having to deploy a complete new appliance to scale your infrastructure. Also imagine a true multi-cloud capability that allows live migration without any modification between cloud environments regardless of whether that cloud is your private cloud or your public AWS, Azure or Google instance. Now think of a world that is not locked i...
SYS-CON Events announced today that T-Mobile 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. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that Infranics 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. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...