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Century Casinos, Inc. Announces Fourth Quarter and Year Ended 2013 Results

COLORADO SPRINGS, Colorado, March 31, 2014 /PRNewswire/ -- Century Casinos, Inc. (NASDAQ Capital Market® and Vienna Stock Exchange: CNTY) today announced its financial results for the three months and year ended December 31, 2013.

2013 Highlights*

  • Net operating revenue was $104.6 million, a 46% increase from the year ended December 31, 2012.
  • Adjusted EBITDA** was $12.6 million, a 20% increase from the year ended December 31, 2012.
  • Net earnings attributable to Century Casinos, Inc. shareholders were $6.2 million, a 51% increase from the year ended December 31, 2012.
  • Earnings per share were $0.26.
  • Book value per share *** at December 31, 2013 was $5.00.

Fourth Quarter 2013 Highlights*

  • Net operating revenue was $29.4 million, a 66% increase from the three months ended December 31, 2012.
  • Adjusted EBITDA** was $2.2 million, a 3% increase from the three months ended December 31, 2012.
  • Net losses attributable to Century Casinos, Inc. shareholders were $0.2 million, a 134% decrease from the three months ended December 31, 2012.
  • Losses per share were $0.01.  

The period over period increases in net operating revenue and Adjusted EBITDA relate to the inclusion of operating results from Casinos Poland Ltd. (CPL) beginning in the second quarter of 2013. In April 2013, the Company completed the purchase of an additional 33.3% ownership interest in CPL. The Company owns a 66.6% ownership interest in CPL and consolidates CPL financial information as a majority-owned subsidiary for which the Company has a controlling financial interest. Prior to the acquisition of this additional interest in CPL, the Company owned 33.3% of CPL and accounted for the CPL ownership interest as an equity investment.

On November 29, 2013, our subsidiary Century Casinos Europe GmbH finalized credit and management agreements with United Horsemen of Alberta, Inc. (UHA) in connection with the development of a Racing Entertainment Center (REC) project in the north metropolitan area of Calgary, Alberta, Canada. The project will include a horse race track and other gaming, restaurant and entertainment facilities. Under the agreements, we acquired 15% of UHA, control the UHA board of directors and will manage the development and operation of the REC project. As of November 29, 2013, we began consolidating UHA as a minority owned subsidiary for which we have a controlling financial interest. While unaffiliated shareholders currently own the remaining 85% of UHA, we have the right to convert $11 million (that we will provide out of a total of $24 million for the development of the REC project) into a 60% ownership stake in UHA, bringing our total to 75%. We account for and report the current 85% UHA ownership interest that we do not own as a non-controlling financial interest.










For the Three Months

For the Year

Amounts in thousands, except per share data

Ended December 31,

Ended December 31,

Consolidated Results:

2013

2012

% Change

2013

2012

% Change

Net operating revenue

$29,424

$17,745

66%

$104,588

$71,828

46%

(Loss) earnings from operations

(16)

894

(102%)

5,483

5,776

(5%)

Net (loss) earnings

(211)

624

(134%)

6,181

4,091

51%








Adjusted EBITDA**

$2,189

$2,123

3%

$12,636

$10,563

20%








Earnings per share:







Basic

($0.01)

$0.03

(133%)

$0.26

$0.17

53%

Diluted

($0.01)

$0.03

(133%)

$0.26

$0.17

53%

Weighted average common shares: 







Basic 

24,378

24,127


24,052

24,004


Diluted

24,365

24,145


24,213

24,105





Said Erwin Haitzmann and Peter Hoetzinger, Co Chief Executive Officers of Century Casinos: "Since the end of the third quarter of 2013, it has been quite challenging for casino operators in many regional North American gaming markets, and we were certainly no exception to that trend. Our business performed behind expectations, mostly because of unusual external challenges such as the devastating floods in Colorado and Calgary in the summer and the strong storms in the winter.

During 2013, against a backdrop of ongoing uncertainty in the macroeconomic picture and consumer weakness in most of the markets that we operate in, we made significant progress with the implementation of our strategy to increase shareholder value. From an operational perspective, we diligently focused on refining and adjusting our product, our marketing and our amenities. We've also improved our operational and financial flexibility, which will allow us to consider a variety of potential growth opportunities that we believe will create significant value for our business and our investors in the years to come. We are particularly excited about the development progress and potential of the Century Downs racetrack and casino in Calgary."

Three Months and Year Ended December 31, 2013 Results*

Net operating revenue increased by $11.7 million, or 66%, and increased by $32.8 million, or 46%, for the three months and year ended December 31, 2013 compared to the three months and year ended December 31, 2012. Following is a summary of the changes in net operating revenue by property or category for the three months and year ended December 31, 2013 compared to the three months and year ended December 31, 2012:




Net Operating Revenue


For the Three Months

For the Year


Ended December 31,

Ended December 31,


2013/2012

2013/2012

Amounts in millions

Change

% Change

Change

% Change

Century Casino & Hotel, Edmonton

$0.0

(1%)

$0.7

3%

Century Casino, Calgary

(0.4)

(19%)

(1.4)

(14%)

Century Casino & Hotel, Central City

(0.4)

(9%)

(1.1)

(6%)

Century Casino & Hotel, Cripple Creek

(0.1)

(3%)

(0.1)

(1%)

Casinos Poland

12.8

100%

34.8

100%

Cruise Ships & Other

(0.2)

(10%)

(0.1)

(1%)

United Horsemen of Alberta

0.0

100%

0.0

100%

Total

$11.7

66%

$32.8

46%




Earnings from operations decreased by ($0.9) million, or (102%), and decreased by ($0.3) million, or (5%) for the three months and year ended December 31, 2013 compared to the three months and year ended December 31, 2012. Following is a summary of the changes in earnings from operations by property or category for the three months and year ended December 31, 2013 compared to the three months and year ended December 31, 2012:








Earnings from Operations


For the Three Months

For the Year


 Ended December 31,

Ended December 31,


2013/2012

2013/2012

Amounts in millions

Change

% Change

Change

% Change

Century Casino & Hotel, Edmonton

$0.0

2%

$0.9

14%

Century Casino, Calgary

(0.1)

(77%)

0.4

66%

Century Casino & Hotel, Central City

(0.1)

(27%)

(0.5)

(22%)

Century Casino & Hotel, Cripple Creek

0.0

(175%)

0.2

18%

Casinos Poland

(0.2)

(100%)

0.3

100%

Cruise Ships & Other

0.1

109%

0.1

14%

United Horsemen of Alberta

0.1

100%

0.1

100%

Corporate Other

(0.7)

(53%)

(1.8)

(37%)

Total

($0.9)

(102%)

($0.3)

(5%)




Net earnings (loss) decreased by ($0.8) million, or (134%), and increased by $2.1 million, or 51% for the three months and year ended December 31, 2013 compared to the three months and year ended December 31, 2012. Following is a summary of the changes in net earnings (loss) by property or category for the three months and year ended December 31, 2013 compared to the three months and year ended December 31, 2012:








Net Earnings (Loss)


For the Three Months

For the Year


 Ended December 31,

Ended December 31,


2013/2012

2013/2012

Amounts in millions

Change

% Change

Change

% Change

Century Casino & Hotel, Edmonton

$0.0

(2%)

$1.0

22%

Century Casino, Calgary

0.0

36%

$0.5

94%

Century Casino & Hotel, Central City

(0.1)

(27%)

(0.3)

(22%)

Century Casino & Hotel, Cripple Creek

0.0

(171%)

0.1

18%

Casinos Poland

(0.4)

(100%)

0.0

100%

Cruise Ships & Other

0.1

137%

0.1

12%

United Horsemen of Alberta

0.0

(100%)

0.0

(100%)

Corporate Other

(0.4)

(40%)

0.7

24%

Total

($0.8)

(134%)

$2.1

51%




Items deducted from or added to earnings from operations to arrive at net earnings include gain on business combination related to the acquisition of the additional ownership interests in CPL and UHA, interest income, interest expense, gains on foreign currency transactions, income tax expense and non-controlling interest.

Property and Category Results (in thousands)

The following are property and category results for net operating revenue and Adjusted EBITDA.




Net Operating Revenue



Adjusted

EBITDA**



Net Operating

Revenue



Adjusted

EBITDA**




For the Three

Months

%

For the Three 

Months

%

For the Year

%

For the Year

%


Ended

December 31,


Change


Ended

December 31,


Change


Ended

December 31,


Change


Ended

December 31,


Change


2013

2012


2013

2012


2013

2012


2013

2012















Century Casino & Hotel, Edmonton

$6,462

$6,499

(1%)

$2,161

$2,141

1%

$25,217

$24,536

3%

$8,926

$7,959

12%

Century Casino, Calgary

2,115

2,594

(19%)

96

159

(40%)

8,507

9,929

(14%)

706

228

210%

Century Casino & Hotel, Central City

3,957

4,354

(9%)

571

714

(20%)

17,374

18,501

(6%)

3,239

3,875

(16%)

Century Casino & Hotel, Cripple Creek

2,446

2,524

(3%)

260

261

(0%)

11,819

11,931

(1%)

2,604

2,385

9%

Casinos Poland

12,831

0

100%

872

0

100%

34,817

0

100%

2,749

0

100%

Cruise Ships & Other

1,587

1,766

(10%)

200

157

27%

6,827

6,923

(1%)

997

929

7%

United Horsemen of Alberta

25

0

100%

6

0

100%

25

0

100%

6

0

100%

Corporate

1

8

(88%)

(1,977)

(1,309)

(51%)

2

8

(75%)

(6,591)

(4,813)

(37%)

Consolidated

$29,424

$17,745

66%

$2,189

$2,123

3%

$104,588

$71,828

46%

$12,636

$10,563

20%




Balance Sheet and Liquidity

As of December 31, 2013, the Company had $27.4 million in cash and cash equivalents and $34.1 million in outstanding debt on its balance sheet compared to $24.8 million in cash and cash equivalents and $3.6 million in debt obligations at December 31, 2012. The $34.1 million in outstanding debt includes $6.5 million in outstanding debt related to CPL, $18.3 million in outstanding debt related to a long-term land lease of UHA and $9.3 million in outstanding debt related to our Bank of Montreal credit agreement as of December 31, 2013. On February 21, 2013, the Company borrowed $7.2 million from its Bank of Montreal credit agreement to pay for the additional 33.3% investment in CPL, which closed on April 8, 2013. The Bank of Montreal credit agreement has a term of five years and is guaranteed by the Company. Once repaid, amounts cannot be reborrowed. As of December 31, 2013, the Company had approximately $16.0 million available for borrowing under the Bank of Montreal credit agreement.

Conference Call Information

Today the Company will post a copy of the annual report on Form 10-K filed with the SEC for the year ended December 31, 2013 on its website at http://corporate.cnty.com/investor-relations/sec-filings.

Century Casinos will host its fourth quarter 2013 earnings conference call today at 8:00 am MDT; 4:00 pm CET, respectively. U.S. domestic participants should dial 1-888-299-7212. For all other international participants, please use +1-719-234-0008 to dial-in. Participants may also listen to the call live or obtain a recording of the call on the Company's website until April 11, 2014 at http://corporate.cnty.com/investor-relations/sec-filings.

*Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.

**Adjusted EBITDA is a Non-GAAP financial measure. See discussion and reconciliation of Non-GAAP financial measures in Supplemental Information below.

*** The Company defines book value per share as total Century Casinos shareholders' equity divided by outstanding common shares.


(continued)

CENTURY CASINOS, INC. AND SUBSIDIARIES

FINANCIAL INFORMATION – US GAAP BASIS



For the Three Months

Ended December 31,

For the Year

Ended December 31,




Amounts in thousands, except for per share information

2013

2012

2013

2012

Operating revenue:





Net operating revenue

29,424

17,745

104,588

71,828

Operating costs and expenses:





Total operating costs and expenses

29,433

16,896

98,970

66,478

Earnings from equity investment

(7)

45

(135)

426

Earnings from operations

(16)

894

5,483

5,776

Non-operating income (expense):





Gain on business combination

404

0

2,478

0

  Interest income

55

1

73

37

  Interest expense

(433)

(70)

(983)

(670)

  Gains on foreign currency transactions and other

84

(5)

318

(24)

Non-operating income (expense), net

110

(74)

1,886

(657)

Earnings before income taxes and non-controlling interest

94

820

7,369

5,119

Income tax provision

609

196

1,294

1,028

Net (loss) earnings

(515)

624

6,075

4,091

Less: Net (earnings) loss attributable to non-controlling interest

(304)

0

106

0

Net earnings attributable to Century Casinos, Inc. shareholders

($211)

$624

$6,181

$4,091






Earnings per share attributable to Century Casinos, Inc.:





  Basic

($0.01)

$0.03

$0.26

$0.17

  Diluted

($0.01)

$0.03

$0.26

$0.17





CENTURY CASINOS, INC. AND SUBSIDIARIES

FINANCIAL INFORMATION – US GAAP BASIS




Century Casinos, Inc.



Condensed Consolidated Balance Sheets



(Amounts in thousands)




December 31,

December 31,


2013

2012

Assets



Current assets

$32,360

$26,535

Property and equipment, net

132,639

99,526

Other assets

25,625

11,275

Total assets

$190,624

$137,336




Liabilities and Shareholders' Equity



Current liabilities

$26,801

$13,071

Non-current liabilities

34,373

6,109

Shareholders' equity

129,450

118,156

Total liabilities and shareholders' equity

$190,624

$137,336





CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION


Century Casinos, Inc.

Adjusted EBITDA Margins ** by Property or Category



For the Three Months

For the Year



Ended December 31,

Ended December 31,


2013

2012

2013

2012

Century Casino & Hotel, Edmonton

33%

33%

35%

32%

Century Casino, Calgary

5%

6%

8%

2%

Century Casino & Hotel, Central City

14%

16%

19%

21%

Century Casino & Hotel, Cripple Creek

11%

10%

22%

20%

Casinos Poland

7%

0%

8%

0%

Cruise Ships & Other

13%

9%

15%

13%

United Horsemen of Alberta

24%

0%

24%

0%

Consolidated Adjusted EBITDA Margin

7%

12%

12%

15%





Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category

For the three months ended December 31, 2013


Amounts in thousands



Three Months Ended December 31, 2013


Edmonton

Calgary

Central City

Cripple Creek

Casinos Poland

Cruise

Ships &

Other

United Horsemen of Alberta

Corporate

Total

Net earnings (loss)

$1,385

($29)

$173

($5)

($386)

$71

($2)

($1,418)

($211)

Interest income

(16)

0

0

0

(8)

0

0

(31)

(55)

Interest expense

104

0

0

(1)

158

0

171

1

433

Income taxes (benefit)

445

(98)

106

(3)

332

23

6

(202)

609

Depreciation and amortization

253

229

292

240

784

100

0

30

1,928

Non-controlling interest

0

0

0

0

(192)

0

(112)

0

(304)

Non-cash stock based compensation

0

0

0

0

0

0

0

22

22

Foreign currency losses (gains)

(13)

(6)

0

0

(66)

0

0

1

(84)

(Gain) loss on disposition of fixed assets

3

0

0

29

242

6

0

24

304

(Gain) on business combination

0

0

0

0

0

0

0

(404)

(404)

Impairments and other write-offs

0

0

0

0

8

0

(57)

0

(49)

Adjusted EBITDA*

$2,161

$96

$571

$260

$872

$200

$6

($1,977)

$2,189





CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION


Century Casinos, Inc.

Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category

For the three months ended December 31, 2012


Amounts in thousands



Three Months Ended December 31, 2012


Edmonton

Calgary

Central City

Cripple Creek

Cruise Ships & Other

Corporate

Total

Net earnings (loss)

$1,407

($45)

$236

$7

$30

($1,011)

$624

Interest income

0

0

0

0

0

(1)

(1)

Interest expense

57

0

0

0

11

2

70

Income taxes (benefit)

417

(35)

145

5

5

(341)

196

Depreciation and amortization

264

230

329

247

113

38

1,221

Non-cash stock based compensation

0

0

0

0

0

(4)

(4)

Foreign currency losses (gains)

(4)

5

0

0

(1)

5

5

(Gain) loss on disposition of fixed assets

0

4

4

2

(1)

1

10

Other write-offs

0

0

0

0

0

2

2

Adjusted EBITDA*

$2,141

$159

$714

$261

$157

($1,309)

$2,123


Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category

For the year ended December 31, 2013





Amounts in thousands



Year Ended December 31, 2013


Edmonton

Calgary

Central City

Cripple Creek

Casinos Poland

Cruise

Ships &

Other

United Horsemen of Alberta

Corporate

Total

Net earnings (loss)

$5,703

($31)

$1,225

$1,004

$12

$504

($2)

($2,234)

$6,181

Interest income

(16)

0

0

0

(10)

0

0

(47)

(73)

Interest expense

429

0

0

0

384

(3)

171

2

983

Income taxes (benefit)

1,809

(172)

750

615

145

81

6

(1,940)

1,294

Depreciation and amortization

1,028

920

1,269

956

1,903

402

0

121

6,599

Non-controlling interest

0

0

0

0

6

0

(112)

0

(106)

Non-cash stock based compensation

0

0

0

0

0

0

0

33

33

Foreign currency losses (gains)

(30)

(11)

0

0

(204)

(1)

0

(72)

(318)

(Gain) loss on disposition of fixed assets

3

0

(5)

29

505

14

0

24

570

(Gain) on business combination

0

0

0

0

0

0

0

(2,478)

(2,478)

Impairments and other write-offs

0

0

0

0

8

0

(57)

0

(49)

Adjusted EBITDA*

$8,926

$706

$3,239

$2,604

$2,749

$997

$6

($6,591)

$12,636





CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION


Century Casinos, Inc.

Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or Category

For the year ended December 31, 2012


Amounts in thousands




Year Ended December 31, 2012


Edmonton

Calgary

Central City

Cripple Creek

Cruise Ships & Other

Corporate

Total

Net earnings (loss)

$4,688

($527)

$1,561

$854

$450

($2,935)

$4,091

Interest income

(12)

(1)

0

0

0

(24)

(37)

Interest expense

656

0

0

0

11

3

670

Income taxes (benefit)

1,595

(117)

956

522

49

(1,977)

1,028

Depreciation and amortization

1,010

860

1,350

1,007

404

126

4,757

Non-cash stock based compensation

0

0

0

0

0

(4)

(4)

Foreign currency losses (gains)

20

9

0

0

0

(5)

24

(Gain) loss on disposition of fixed assets

2

4

8

2

15

1

32

Other write-offs

0

0

0

0

0

2

2

Adjusted EBITDA*

$7,959

$228

$3,875

$2,385

$929

($4,813)

$10,563




* The Company defines Adjusted EBITDA as net earnings (loss) before interest, income taxes (benefit), depreciation, amortization, pre-opening expenses, non-cash stock based compensation charges, asset impairment costs, (gains) losses on disposition of fixed assets, discontinued operations, realized foreign currency (gains) losses, gain on business combination and certain other one-time items. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings and Adjusted EBITDA reported for each property. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under accounting principles generally accepted in the United States of America ("US GAAP"). Adjusted EBITDA is not considered a measure of performance recognized under US GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management uses Adjusted EBITDA to compare the relative operating performance of separate operating units by eliminating the above mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue, and the often high cost of acquiring existing operations. EBITDA (Earnings before interest, taxes, depreciation and amortization) is used by the Company's lending institution to gauge operating performance. The Company's computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) above.


CENTURY CASINOS, INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION




** The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Management uses this margin as one of several measures to evaluate the efficiency of the Company's casino operations.

About Century Casinos, Inc.:

Century Casinos, Inc. is an international casino entertainment company that owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary, Alberta, Canada. The Company also operates casinos aboard twelve luxury cruise vessels (Regatta, Nautica, Marina, Riviera, Mein Schiff 1, Mein Schiff 2, Wind Surf, Wind Star, Wind Spirit, Seven Seas Voyager, Seven Seas Mariner and Seven Seas Navigator). Through its Austrian subsidiary, Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of nine casinos in Poland. The Company also manages the operations of the casino at the Radisson Aruba Resort, Casino & Spa in Aruba, Caribbean. The Company is currently developing a project in the north metropolitan area of Calgary, Alberta, Canada that will include a horse race track and other gaming, restaurant and entertainment facilities. Century Casinos, Inc. continues to pursue other international projects in various stages of development.

For more information about Century Casinos, visit our website at www.centurycasinos.com. Century Casinos' common stock trades on The NASDAQ Capital Market® and the Vienna Stock Exchange under the symbol CNTY.

This release may contain "forward-looking statements" within the meaning of Section 27A of the Security Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations (including results for Casinos Poland, Ltd.), operating efficiencies, synergies and operational performance, development of and the prospects for the REC project, debt repayment and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2013. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

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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, panelists will look at the protocols that communicate data and the emerging data analy...
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...