Welcome!

News Feed Item

Conn’s, Inc. Reports Fiscal 2014 Fourth-Quarter And Full-Year Financial Results

Conn’s, Inc. (NASDAQ:CONN), a specialty retailer of home appliances, furniture, mattresses, consumer electronics and provider of consumer credit, today announced financial results for the quarter and fiscal year ended Jan. 31, 2014.

Full-year fiscal 2014 highlights include (on year-over-year basis unless noted):

  • Consolidated revenues increased 38.0% to $1.19 billion;
  • Same store sales grew 26.5%;
  • Opened 14 new locations in six new markets;
  • Retail gross margin expanded 470 basis points to 39.9%;
  • Retail segment adjusted operating income rose 140.5% to $136.1 million;
  • Credit segment adjusted operating income was $27.8 million, a 40.7% decrease;
  • Credit segment provision for bad debts was 11.0% of the average outstanding portfolio balance;
  • Adjusted diluted earnings increased 57.7%, to $2.57 per share, from $1.63 per share; and
  • Diluted earnings grew 62.8%, to $2.54 per share.

Fourth-quarter fiscal 2014 significant items include (on year-over-year basis unless noted):

  • Consolidated revenues increased 44.3% to $361.1 million;
  • Same store sales grew 33.4%, with the pace of expansion decelerating in January to 18.3%;
  • Opened eight new locations in four new markets;
  • Retail gross margin expanded 370 basis points to 40.6%;
  • Selling, general and administrative expense as a percent of revenue improved 220 basis points to 26.9%, as retail sales leverage was realized;
  • Retail segment adjusted operating income rose 147.4% to $49.1 million;
  • Adjusted credit segment operating loss was $1.9 million, declining $15.5 million;
  • The percentage of the customer portfolio balance 60+ days delinquent was 8.8% as of Jan. 31;
  • Credit segment provision for bad debts on an annualized basis was 15.1% of the average outstanding portfolio balance;
  • Adjusted diluted earnings grew 37.0%, to $0.74 per share, from $0.54 per share; and
  • Diluted earnings increased 50.0%, to $0.75 per share.

Theodore M. Wright, Conn’s Chairman and Chief Executive Officer stated, “Total revenues rose 44% in the fourth quarter and adjusted earnings per diluted share increased 37%. Same store sales increased 33%, with growth in each of our categories. Higher-margin furniture and mattress product same store sales increased 60%. Our business model demonstrated its strength and resilience despite the challenges from portfolio growth and weather in our credit operation in the fourth quarter.

“Fiscal 2015 same store sales are expected to increase 5% to 10%, down from 27% in fiscal 2014, as comparisons will become progressively more difficult. Same store sales in the current quarter to date increased about 15%.

“Credit portfolio performance improved since quarter end with delinquency declining. Modifications to underwriting standards implemented in the third quarter are providing benefits to delinquency in the current quarter. Collections execution is improving as well.”

Retail Segment Fourth-Quarter Results (on a year-over-year basis unless otherwise noted)

Net retail revenues were $302.1 million for the quarter ended Jan. 31, 2014, an increase of $93.4 million, or 44.7%. Significant sales growth was reported across all major product categories. On a sequential basis, fourth-quarter retail sales reflect the benefit of the six stores opened prior to Oct. 31 as well as the eight additional stores that were opened during the fourth quarter. The impact of new store openings was partially offset by the closure of one location during the quarter. With new store openings and the remodeling and relocation of existing stores, approximately two-thirds of the stores were operating in the Conn’s HomePlusTM format at Jan. 31.

The following table presents net sales by category and changes in net sales for the current and prior-year quarter:

  Three Months Ended January 31,       Same store
2014   % of Total   2013   % of Total Change % Change % change
(dollars in millions)
Home appliance $ 70,724 23.4 % $ 50,361 24.2 % $ 20,363 40.4 % 29.5 %
Furniture and mattress 72,275 24.0 39,848 19.1 32,427 81.4 59.7
Consumer electronic 88,917 29.5 72,387 34.7 16,530 22.8 13.2
Home office 37,272 12.3 22,626 10.9 14,646 64.7 53.0
Other   6,247 2.1     4,490 2.2     1,757 39.1 25.2
Product sales 275,435 91.3 189,712 91.1 85,723 45.2 31.9
 

Repair service agreement commissions

22,915 7.6 15,718 7.5 7,197 45.8 37.0
Service revenues   3,284 1.1     2,922 1.4     362 12.4
Total net sales $ 301,634 100.0 % $ 208,352 100.0 % $ 93,282 44.8 % 33.4 %

The following provides a summary of items influencing Conn’s major product category performance during the quarter, compared to the prior-year period:

  • Home appliance unit volume increased 31%. Laundry sales were up 46%, refrigeration sales rose 34% and cooking sales increased 35%;
  • Furniture unit sales increased 70% and the average selling price was up 12%;
  • Mattress unit volume rose 29% and average selling price increased 19%;
  • Television sales rose 17% in total and 9% on a same store basis. Home theater sales increased 58% and portable audio sales were up 89%; and
  • Computer sales increased 77% and tablet sales rose 46%.

Retail gross margin improved 370 basis points to 40.6% for the quarter ended Jan. 31. Product margins expanded in all major product categories. Furniture and mattress gross margin expanded 360 basis points to 50.3%. Furniture and mattress sales contributed 26.2% of the total product sales and 37.2% of the total product gross profit in the current period. Selling, general and administrative expense as a percent of revenue improved 300 basis points, to 24.6%.

Credit Segment Fourth-Quarter Results

Credit revenues increased 41.9%, to $59.1 million. The revenue growth was attributable to the increase in the average receivable portfolio balance outstanding. The customer portfolio balance equaled $1.07 billion at Jan. 31, rising 44.1%, or $326.7 million from a year ago. The portfolio interest and fee income yield was 18.2% for the fourth quarter, down 60 basis points from the prior year as a result of increased short-term, no-interest financing. On a sequential basis, interest and fee income yield expanded 40 basis points.

Provision for bad debts increased $25.4 million to $38.1 million for the fourth quarter. The annualized provision rate was 15.1% for the quarter and 11.0% for the full fiscal year. The percentage of the customer portfolio balance greater than 60 days delinquent was 8.8% as of Jan. 31, which compares to 7.1% a year ago and 8.5% as of Oct. 31, 2013.

Additional information on the credit portfolio and its performance may be found in the table included within this press release and in Conn’s Form 10-K for the year ended Jan. 31, 2014, to be filed with the Securities and Exchange Commission.

Fourth-Quarter Net Income Results

For the quarter ended Jan. 31, 2014, Conn’s reported net income of $0.75 per diluted share, which includes a pretax benefit of $0.7 million associated with facility closures and lease terminations, compared to the prior-year quarter when the company reported net income of $0.50 per diluted share including pretax costs of $2.0 million associated with store closures and lease terminations, employee severance, extinguishment of debt and the relocation of the Conn’s corporate office to The Woodlands, Texas.

Capital and Liquidity

As of Jan. 31, 2014, the company had $536.3 million of borrowings outstanding under its asset-based loan facility. The company had $157.9 million of immediately available borrowing capacity, with an additional $155.8 million that could become available upon increases in eligible inventory and customer receivable balances under the borrowing base.

As announced earlier today, the company received an additional $30.0 million of lender commitments under its asset-based loan facility increasing total commitments to $880.0 million.

Outlook and Guidance

Conn’s reaffirmed its fiscal year 2015 earnings guidance of $3.40 to $3.70 per diluted share. The following updated expectations were considered in developing the guidance:

  • Same stores sales up 5% to 10%;
  • New store openings of 15 to 20;
  • Retail gross margin between 39.0% and 40.0%;
  • An increase in the credit portfolio balance;
  • Credit portfolio interest and fee yield of approximately 18.0%;
  • Credit segment provision for bad debts of between 8.0% to 10.0% of the average portfolio balance outstanding based on the same store sales and new store opening expectations presented above;
  • Selling, general and administrative expense of between 28.0% and 29.0% of total revenues; and
  • Diluted shares outstanding of approximately 37.4 million.

Conference Call Information

Conn’s, Inc. will host a conference call and audio webcast on Thursday, March 27, at 11 a.m. ET, to discuss its earnings and operating performance for the 2014 fourth quarter and fiscal year. A link to the live webcast, which will be archived for one year, and slides to be referred to during the call will be available at http://ir.Conns.com. Participants may also join the live call by dialing 877-754-5302 or 678-894-3020.

About Conn’s, Inc.

Conn’s is a specialty retailer operating more than 75 retail locations in Texas, Louisiana, Arizona, Oklahoma and New Mexico. The company’s primary product categories include:

  • Home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges;
  • Furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom, as well as both traditional and specialty mattresses;
  • Consumer electronic, including LCD, LED, 3-D, Ultra HD and plasma televisions, Blu-ray players, home theater and video game products, digital cameras and portable audio equipment; and
  • Home office, including computers, tablets, printers and accessories.

Additionally, Conn’s offers a variety of products on a seasonal basis. Unlike many of its competitors, the company provides flexible in-house credit options for its customers in addition to third-party financing programs and third-party rent-to-own payment plans.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements include information concerning our future financial performance, business strategy, plans, goals and objectives. Statements containing the words "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "project," "should," or the negative of such terms or other similar expressions are generally forward-looking in nature and not historical facts. Although we believe that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, we can give no assurance that such statements will prove to be correct. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by our forward-looking statements including, but not limited to: general economic conditions impacting our customers or potential customers; our ability to continue existing or offer new customer financing programs; changes in the delinquency status of our credit portfolio; increased regulatory oversight; higher than anticipated net charge-offs in the credit portfolio; the success of our planned opening of new stores and the updating of existing stores; technological and market developments and sales trends for our major product offerings; our ability to protect against cyberattacks or data security breaches and protect the integrity and security of individually identifiable data of our customers and our employees, our ability to fund our operations, capital expenditures, debt repayment and expansion from cash flows from operations, borrowings from our revolving credit facility, and proceeds from accessing debt or equity markets; and the other risks detailed in our SEC reports, including but not limited to, our Annual Report on Form 10-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, we are not obligated to publicly release any revisions or update to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

 

CONN'S, INC. AND SUBSIDIARIES

CONDENSED, CONSOLIDATED STATEMENT OF OPERATIONS
(unaudited)
(in thousands, except per share amounts)
       
Three Months Ended Year Ended
January 31, January 31,
2014 2013 2014 2013
Revenues
Total net sales $ 301,634 $ 208,352 $ 991,840 $ 714,267
Finance charges and other   59,507     41,992     201,929   150,765  
Total revenues 361,141

 

250,344

 

1,193,769

 

865,032
Cost and expenses

Cost of goods sold, including warehousing and occupancy costs

177,237 129,641 588,721 454,682

Cost of parts sold, including warehousing and occupancy costs

1,317 1,452 5,327 5,965
Selling, general and administrative expense 97,175 72,942 339,528 253,189
Provision for bad debts 38,175 12,821 96,224 47,659
Charges and credits   (717 )   1,875     2,117   3,025  
Total cost and expenses   313,187  

 

  218,731  

 

  1,031,917

 

  764,520  
Operating income 47,954

 

31,613

 

161,852

 

100,512
Interest expense 4,603 3,888 15,323 17,047
Loss on extinguishment of debt - 79 - 897
Other (income) expense, net   48     (48 )   10   (153 )
Income before income taxes 43,303 27,694 146,519 82,721
Provision for income taxes   15,568     10,029     53,070   30,109  
Net income $ 27,735   $ 17,665   $ 93,449 $ 52,612  
 
Earnings per share:
Basic $ 0.77 $ 0.52 $ 2.61 $ 1.60
Diluted $ 0.75 $ 0.50 $ 2.54 $ 1.56
Average common shares outstanding:
Basic 36,054 34,072 35,779 32,862
Diluted 37,021 35,161 36,861 33,768

 

CONN'S, INC. AND SUBSIDIARIES

CONDENSED RETAIL SEGMENT FINANCIAL INFORMATION
(unaudited)
(in thousands, except per share amounts)
       
Three Months Ended Year Ended
January 31, January 31,
2014 2013 2014 2013
Revenues
Product sales $ 275,435 $ 189,712 $ 903,917 $ 649,516
Repair service agreement commissions 22,915 15,718 75,671 51,648
Service revenues   3,284     2,922     12,252     13,103  
Total net sales   301,634  

 

  208,352  

 

  991,840  

 

  714,267  
Finance charges and other   455     379     1,522     1,236  
Total revenues 302,089

 

208,731

 

993,362

 

715,503
Cost and expenses

Cost of goods sold, including warehousing and occupancy costs

177,237 129,641 588,721 454,682

Cost of parts sold, including warehousing and occupancy costs

1,317 1,452 5,327 5,965
Selling, general and administrative expense 74,362 57,666 262,702 197,498
Provision for bad debts 79 128 468 758
Charges and credits   (717 )   1,348     2,117     2,498  
Total cost and expenses   252,278  

 

  190,235  

 

  859,335  

 

  661,401  
Operating income 49,811

 

18,496

 

134,027

 

54,102
Other (income) expense, net   48     (48 )   10     (153 )
Income before income taxes $ 49,763  

 

$ 18,544  

 

$ 134,017  

 

$ 54,255  
 
Retail gross margin 40.6 % 36.9 % 39.9 % 35.2 %

Selling, general and administrative expense as percent of revenues

24.6 % 27.6 % 26.4 % 27.6 %
Operating margin 16.5 % 8.9 % 13.5 % 7.6 %
 
Number of stores:
Beginning of period 72 65 68 65
Opened 8 4 14 5
Closed   (1 )   (1 )   (3 )   (2 )
End of period   79     68     79     68  

       

CONN'S, INC. AND SUBSIDIARIES

CONDENSED CREDIT SEGMENT FINANCIAL INFORMATION
(unaudited)
(in thousands)
 
Three Months Ended Year Ended
January 31, January 31,
2014 2013 2014 2013
Revenues
Finance charges and other $ 59,052 $ 41,613 $ 200,407 $ 149,529
Cost and expenses
Selling, general and administrative expense 22,813 15,276 76,826 55,691
Provision for bad debts 38,096 12,693 95,756 46,901
Charges and credits   -     527     -     527  
Total cost and expenses   60,909  

 

  28,496  

 

  172,582  

 

  103,119  
Operating income (loss) (1,857 )

 

13,117

 

27,825

 

46,410
Interest expense 4,603 3,888 15,323 17,047
Loss from early extinguishment of debt   -     79     -     897  
Income (loss) before income taxes $ (6,460 ) $ 9,150   $ 12,502   $ 28,466  
 

Selling, general and administrative expense as percent of revenues

38.6 % 36.7 % 38.3 % 37.2 %
Operating margin (3.1 )% 31.5 % 13.9 % 31.0 %

 
CUSTOMER RECEIVABLE PORTFOLIO STATISTICS
(dollars in thousands, except average outstanding balance per account)
   
January 31,
2014 2013
 
Total outstanding balance $ 1,068,270 $ 741,544
Weighted average credit score of outstanding balances 594 600
Average income of credit customer $ 39,700 $ 37,500
Number of active accounts 621,229 483,219
Weighted average months since origination of outstanding balance 8.4 9.3
Average outstanding account balance $ 1,720 $ 1,535
Account balances 60+ days past due $ 94,403 $ 52,839
Percent of balances 60+ days past due to total outstanding balance 8.8 % 7.1 %
Total account balances re-aged $ 120,770 $ 86,428
Percent of re-aged balances to total outstanding balance 11.3 % 11.7 %
Account balances re-aged more than six months $ 21,168 $ 19,071
Percent of total allowance for bad debts to total outstanding customer receivable balance 6.7 % 5.9 %
Percent of total outstanding balance represented by short-term, no interest receivables 35.6 % 27.3 %
  Three Months Ended   Year Ended
January 31, January 31,
2014   2013 2014   2013
Data for the periods ended:
Total applications processed 307,409 209,019 989,862 750,439

Weighted average origination credit score of sales financed

605 611 602 614
Percent of total applications approved 49.9 % 51.4 % 50.3 % 48.6 %
Average down payment 3.1 % 2.6 % 3.5 % 3.2 %
Average total outstanding balance $ 1,011,517 $ 713,108 $ 869,561 $ 669,029
Bad debt charge-offs (net of recoveries) $ 26,777 $ 13,252 $ 69,430 $ 53,276

Percent of bad debt charge-offs (net of recoveries) to average outstanding balance, annualized

10.6 % 7.4 % 8.0 % 8.0 %
Weighted average monthly payment rate 4.8 % 5.1 % 5.3 % 5.4 %
Provision for bad debts $ 38,096 $ 12,693 $ 95,756 $ 46,901

Provision for bad debts as a percentage of average outstanding balance

15.1 %

 

7.1 % 11.0 % 7.0 %
Percent of sales paid for by payment option:
In-house financing, including down payment received 78.1 % 74.6 % 77.3 % 70.9 %
Third-party financing 12.7 % 16.1 % 12.0 % 14.8 %
Third-party rent-to-own options   3.6 %   3.3 %   3.1 %   3.5 %
Total   94.4 %   94.0 %   92.4 %   89.2 %

   

CONN'S, INC. AND SUBSIDIARIES

CONDENSED, CONSOLIDATED BALANCE SHEET
(unaudited)
(in thousands)
 
January 31,
2014 2013
Assets
Current Assets
Cash and cash equivalents $ 5,727 $ 3,849
Customer accounts receivable, net 527,267 378,050
Other accounts receivable, net 51,480

 

45,759
Inventories 120,530 73,685
Deferred income taxes 20,284 15,302
Prepaid expenses and other assets   10,307   11,599
Total current assets 735,595

 

528,244
Long-term customer accounts receivable, net 457,413 313,011
Property and equipment, net 86,842 46,994
Deferred income taxes 7,721 11,579
Other assets, net   10,415   10,029
Total Assets $ 1,297,986

 

$ 909,857
 
Liabilities and Stockholders' Equity
Current Liabilities
Current portion of long-term debt $ 420 $ 32,526
Accounts payable 82,861 69,608
Accrued compensation and related expenses 11,390 8,780
Other current liabilities   47,936   40,249
Total current liabilities 142,607

 

151,163
Long-term debt 535,631 262,531
Other long-term liabilities 30,458 21,713
Stockholders' equity   589,290   474,450
Total liabilities and stockholders' equity $ 1,297,986

 

$ 909,857

     
NON-GAAP RECONCILIATION OF RETAIL SEGMENT
OPERATING INCOME, AS ADJUSTED
(unaudited)
(in thousands, except per share amounts)
 
Three Months Ended Year Ended
January 31, January 31,
2014 2013 2014 2013
Operating income, as reported $ 49,811 $ 18,496 $ 134,027 $ 54,102
Adjustments:
Costs (benefit) related to facility closures (717 ) 1,032 2,117 1,195
Costs related to office relocation - 215 - 1,202
Severance costs   -     101     -     101  
Operating income, as adjusted $ 49,094   $ 19,844   $ 136,144   $ 56,600  
 
Retail segment revenues $ 302,089 $ 208,731 $ 993,362 $ 715,503
 
Operating margin
As reported 16.5 % 8.9 % 13.5 % 7.6 %
As adjusted 16.3 % 9.5 % 13.7 % 7.9 %
     
NON-GAAP RECONCILIATION OF CREDIT SEGMENT
OPERATING INCOME, AS ADJUSTED
(unaudited)
(in thousands, except per share amounts)
 
Three Months Ended Year Ended
January 31, January 31,
2014 2013 2014 2013
Operating income (loss), as reported $ (1,857 ) $ 13,117 $ 27,825 $ 46,410
Adjustments:
Severance costs   -     527     -     527  
Operating income (loss), as adjusted $ (1,857 ) $ 13,644   $ 27,825   $ 46,937  
 
Credit segment revenues $ 59,052 $ 41,613 $ 200,407 $ 149,529
 
Operating margin
As reported (3.1 )% 31.5 % 13.9 % 31.0 %
As adjusted (3.1 )% 32.8 % 13.9 % 31.4 %

     
NON-GAAP RECONCILIATION OF NET INCOME, AS ADJUSTED
AND DILUTED EARNINGS PER SHARE, AS ADJUSTED
(unaudited)
(in thousands, except per share amounts)
 
Three Months Ended Year Ended
January 31, January 31,
2014 2013 2014 2013
Net income, as reported $ 27,735 $ 17,665 $ 93,449 $ 52,612
Adjustments:
Costs (benefit) related to facility closures (717 ) 1,032 2,117 1,195
Costs related to office relocations - 215 - 1,202
Severance costs - 628 - 628
Loss from early extinguishment of debt - 79 - 897
Tax impact of adjustments   253     (688 )   (747 )   (1,381 )
Net income, as adjusted $ 27,271   $ 18,931   $ 94,819   $ 55,153  
 
Average common shares outstanding - Diluted 37,021 35,161 36,861 33,768
 
Earnings per share - Diluted
As reported $ 0.75 $ 0.50 $ 2.54 $ 1.56
As adjusted $ 0.74 $ 0.54 $ 2.57 $ 1.63

Basis for presentation of non-GAAP disclosures:

To supplement the Company’s condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles ("GAAP"), the Company also provides the following information: adjusted net income and adjusted earnings per diluted share; and adjusted retail and credit segment operating income and adjusted operating margin. These non-GAAP financial measures are not meant to be considered as a substitute for comparable GAAP measures but should be considered in addition to results presented in accordance with GAAP, and are intended to provide additional insight into the Company’s operations and the factors and trends affecting the Company’s business. The Company’s management believes these non-GAAP financial measures are useful to financial statement readers because (1) they allow for greater transparency with respect to key metrics the Company uses in its financial and operational decision making and (2) they are used by some of its institutional investors and the analyst community to help them analyze the Company’s operating results.

CONN-G

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
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
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 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...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
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...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...