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Brink's To Report Venezuela Results at SICAD II Exchange Rate

RICHMOND, Va., April 14, 2014 /PRNewswire/ -- The Brink's Company (NYSE: BCO) announced today that it will no longer use Venezuela's official exchange rate of 6.3 bolivars per U.S. dollar and has adopted the government's SICAD II floating rate of approximately 50 bolivars per U.S. dollar, which took effect on March 24.  

As a result of the devaluation, Brink's expects to incur a first-quarter remeasurement charge related to the write down of substantially all of its bolivar-denominated net monetary assets.  At December 31, 2013, bolivar-denominated net monetary assets totaled $120 million.

Tom Schievelbein, chairman, president and chief executive officer, said: "Brink's has been operating in Venezuela for more than 40 years, through numerous economic cycles.  We remain committed to this business, which is extremely well-managed by our local team and has demonstrated strong operational and financial performance."          

For comparative purposes, Brink's provided hypothetical 2013 quarterly and full-year non-GAAP results, adjusted to reflect the devaluation (pages 4-7).  Applying the current SICAD II rate, the $447 million of 2013 revenue from Venezuela operations would have declined 88% to approximately $56 million, which is consistent with the company's disclosure in its 2013 annual report on Form 10-K that a substantial devaluation could reduce revenue by $400 million.  In 2013, non-GAAP net income from continuing operations would have been $1.55 per share, a decrease of $.82 from reported earnings of $2.37 per share ($1.47 on a GAAP basis), which is consistent with previous disclosure that Venezuela operations represented a significant component of the company's operating profit.  Brink's also indicated in previous disclosures that a devaluation would put at risk the company's bolivar-denominated cash and cash equivalents, which totaled $94 million on December 31, 2013.  Applying the current SICAD II rate, these assets would have been valued at $12 million as of December 31, 2013.    

1

Brink's is scheduled to report its first-quarter 2014 earnings on April 24.  First-quarter GAAP and non-GAAP earnings will include results from Venezuela for January 1 through March 23 at the official rate (6.3), with the balance of March results reported at the SICAD II rate (approximately 50).  For comparative purposes, the company also will provide first-quarter results with Venezuela results translated at the SICAD II rate for the entire period and additional information, including an update to its full-year guidance.     

Brink's had been reporting its Venezuela results at the official exchange rate (6.3) but, as disclosed in its 2013 annual report on Form 10-K, was unable to convert bolivars at this rate.  In 2013, the Venezuelan government introduced a new exchange rate mechanism, known as SICAD, which enables some companies to convert currency for certain transactions at a rate of approximately 11 bolivars per U.S. dollar.  On March 24, the newly created SICAD II exchange mechanism became available and is the only rate at which Brink's has been able to successfully exchange its bolivars for U.S. dollars.  Since Brink's is eligible and has been able to obtain U.S. dollars at the SICAD II rate (approximately 50), and is not eligible to apply for exchange at the official rate (6.3), and does not expect to be able to access the SICAD rate (11), it is adopting the SICAD II rate for reporting Venezuela results. 

Non-GAAP and Adjusted Non-GAAP Results
Non-GAAP and Adjusted Non-GAAP results described in this press release are financial measures that are not required by or presented in accordance with U.S. generally accepted accounting principles ("GAAP").  The purpose of the Non-GAAP results is to report financial information without certain income and expense items and adjust the quarterly Non-GAAP tax rates so that the Non-GAAP tax rate in each of the quarters is equal to the full-year non-GAAP tax rate.  The full year Non-GAAP tax rate in both years excludes certain pretax and tax income and expense amounts.  The purpose of Adjusted Non-GAAP results is to report historical Non-GAAP financial information assuming that our Venezuelan operations had been remeasured using a rate of 50 bolivars to the U.S. dollar.

The Non-GAAP and Adjusted Non-GAAP information provides information to assist comparability and estimates of future performance.  Brink's believes these measures are helpful in assessing operations and estimating future results and enable period-to-period comparability of financial performance.  In addition, Brink's believes the measures will help investors assess the ongoing operations.  Non-GAAP and Adjusted Non-GAAP results should not be considered as an alternative to revenue, income or earnings per share amounts determined in accordance with GAAP and should be read in conjunction with their GAAP counterparts.

Forward-Looking Statements
This release contains both historical and forward-looking information. Words such as "anticipates," "assumes," "estimates," "expects," "projects," "predicts," "intends," "plans," "believes," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in this release includes, but is not limited to an expected first quarter charge related to a devaluation in Venezuela and future access to exchange mechanisms in Venezuela. Forward-looking information in this document is subject to known and unknown risks, uncertainties and contingencies, which are difficult to predict or quantify, and which could cause actual results, performance or achievements to differ materially from those that are anticipated.

These risks, uncertainties and contingencies, many of which are beyond our control, include, but are not limited to:

  • risks customarily associated with operating in foreign countries including changing labor and economic conditions, currency devaluations, safety and security issues, political instability, restrictions on repatriation of earnings and capital, nationalization, expropriation and other forms of restrictive government actions,
  • the strength of the U.S. dollar relative to foreign currencies and foreign currency exchange rates,
  • the stability of the Venezuelan economy, changes in Venezuelan policy regarding foreign-owned businesses,
  • changes in currency restrictions and in foreign exchange rates,
  • fluctuations in value of the Venezuelan bolivar,
  • changes in estimates and assumptions underlying our critical accounting policies, and
  • the promulgation and adoption of new accounting standards and interpretations, new government regulations and interpretations of existing regulations.

This list of risks, uncertainties and contingencies is not intended to be exhaustive. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the period ended December 31, 2013, and in our other public filings with the Securities and Exchange Commission. The forward-looking information included in this document is representative only as of the date of this document and The Brink's Company undertakes no obligation to update any information contained in this document.

2



The Brink's Company and subsidiaries
GAAP and Non-GAAP Results as Previously Reported (Unaudited)
(In millions, except for per share amounts)






2013



1Q


2Q


3Q


4Q


Full Year

















GAAP Basis

Revenues:












Latin America

$

412.9


413.6


423.8


470.4


1,720.7


EMEA


277.8


293.4


301.2


305.9


1,178.3


North America


223.2


226.3


222.5


226.4


898.4


Asia Pacific


36.6


36.6


34.9


36.7


144.8



Revenues

$

950.5


969.9


982.4


1,039.4


3,942.2














Operating profit:












Latin America

$

23.4


24.4


42.8


59.3


149.9


EMEA


8.6


18.7


32.1


22.1


81.5


North America


(2.0)


6.3


0.2


0.2


4.7


Asia Pacific


4.3


5.0


4.8


2.6


16.7



Segment operating profit


34.3


54.4


79.9


84.2


252.8


Non-segment


(17.0)


(21.6)


(20.7)


(21.8)


(81.1)



Operating profit

$

17.3


32.8


59.2


62.4


171.7














Amounts attributable to Brink's:











Income from continuing operations

$

2.9


13.2


29.8


26.0


71.9

Diluted EPS – continuing operations


0.06


0.27


0.61


0.53


1.47

















Non-GAAP Basis

Revenues:












Latin America

$

412.9


413.6


423.8


470.4


1,720.7


EMEA


277.8


293.4


301.2


305.9


1,178.3


North America


223.2


226.3


222.5


226.4


898.4


Asia Pacific


36.6


36.6


34.9


36.7


144.8



Revenues

$

950.5


969.9


982.4


1,039.4


3,942.2














Operating profit:












Latin America

$

37.1


24.9


43.6


62.4


168.0


EMEA


8.6


18.7


32.1


22.1


81.5


North America


0.9


9.2


3.1


3.1


16.3


Asia Pacific


4.3


5.0


4.8


3.5


17.6



Segment operating profit


50.9


57.8


83.6


91.1


283.4


Non-segment


(7.6)


(11.4)


(11.3)


(12.3)


(42.6)



Operating profit

$

43.3


46.4


72.3


78.8


240.8














Amounts attributable to Brink's:











Income from continuing operations

$

18.7


22.8


35.4


39.0


115.9

Diluted EPS – continuing operations


0.38


0.47


0.72


0.79


2.37


Amounts may not add due to rounding.  Non-GAAP results are reconciled to applicable GAAP results on pages 5-7.


The Brink's Company and subsidiaries
Non-GAAP Results Adjusted for Venezuelan Results at 50 Bolivars per U.S. Dollar (Unaudited)
(In millions, except for per share amounts)






2013



1Q


2Q


3Q


4Q


Full Year

















Non-GAAP Results Adjusted for Venezuelan Results at 50 Bolivars per U.S. Dollar

Revenues:












Latin America

$

328.4


329.7


323.7


347.4


1,329.2


EMEA


277.8


293.4


301.2


305.9


1,178.3


North America


223.2


226.3


222.5


226.4


898.4


Asia Pacific


36.6


36.6


34.9


36.7


144.8



Revenues

$

866.0


886.0


882.3


916.4


3,550.7














Operating profit:












Latin America

$

17.6


14.8


21.7


39.1


93.2


EMEA


8.6


18.7


32.1


22.1


81.5


North America


0.9


9.2


3.1


3.1


16.3


Asia Pacific


4.3


5.0


4.8


3.5


17.6



Segment operating profit


31.4


47.7


61.7


67.8


208.6


Non-segment


(7.6)


(11.4)


(11.3)


(12.3)


(42.6)



Operating profit

$

23.8


36.3


50.4


55.5


166.0














Amounts attributable to Brink's:











Income from continuing operations

$

9.2


16.1


22.8


27.8


75.9

Diluted EPS – continuing operations


0.19


0.33


0.46


0.57


1.55


Amounts may not add due to rounding.  Non-GAAP Results Adjusted for Venezuelan Results at 50 bolivars per U.S. dollar are reconciled to applicable GAAP results on pages 5 – 7.


The Brink's Company and subsidiaries
Non-GAAP and Adjusted Non-GAAP(g) Results Reconciled to GAAP (Unaudited)
(In millions, except for per share amounts)




GAAP
Basis


Gains and
Losses on
Acquisitions
and
Dispositions

(a)


Net Monetary
Asset Re-
measurement
Losses in
Venezuela

(b)


Employee
Benefit
Settlement
Losses

 (c)


U.S.
Retirement
Plans

(d)


Adjust
Income
Tax Rate

(e)


Non-
GAAP
Basis


Adjust
Venezuela
to 50
Bolivars to the U.S.
Dollar

(f)


Adjusted
Non-
GAAP
Basis

(g)

























First Quarter 2013

Revenues:




















Latin America

$

412.9


-


-


-


-


-


412.9


(84.5)


328.4


EMEA


277.8


-


-


-


-


-


277.8


-


277.8


North America


223.2


-


-


-


-


-


223.2


-


223.2


Asia Pacific


36.6


-


-


-


-


-


36.6


-


36.6



Revenues

$

950.5


-


-


-


-


-


950.5


(84.5)


866.0






















Operating profit:




















Latin America

$

23.4


-


13.4


0.3


-


-


37.1


(19.5)


17.6


EMEA


8.6


-


-


-


-


-


8.6


-


8.6


North America


(2.0)


-


-


-


2.9


-


0.9


-


0.9


Asia Pacific


4.3


-


-


-


-


-


4.3


-


4.3



Segment operating profit


34.3


-


13.4


0.3


2.9


-


50.9


(19.5)


31.4


Non-segment


(17.0)


(1.1)


-


-


10.5


-


(7.6)


-


(7.6)



Operating profit

$

17.3


(1.1)


13.4


0.3


13.4


-


43.3


(19.5)


23.8






















Amounts attributable to Brink's:



















Income from continuing operations

$

2.9


(1.1)


8.4


0.2


8.2


0.1


18.7


(9.5)


9.2

Diluted EPS – continuing operations


0.06


(0.02)


0.17


-


0.17


-


0.38


(0.19)


0.19










Second Quarter 2013

Revenues:




















Latin America

$

413.6


-


-


-


-


-


413.6


(83.9)


329.7


EMEA


293.4


-


-


-


-


-


293.4


-


293.4


North America


226.3


-


-


-


-


-


226.3


-


226.3


Asia Pacific


36.6


-


-


-


-


-


36.6


-


36.6



Revenues

$

969.9


-


-


-


-


-


969.9


(83.9)


886.0






















Operating profit:




















Latin America

$

24.4


-


-


0.5


-


-


24.9


(10.1)


14.8


EMEA


18.7


-


-


-


-


-


18.7


-


18.7


North America


6.3


-


-


-


2.9


-


9.2


-


9.2


Asia Pacific


5.0


-


-


-


-


-


5.0


-


5.0



Segment operating profit


54.4


-


-


0.5


2.9


-


57.8


(10.1)


47.7


Non-segment


(21.6)


-


-


-


10.2


-


(11.4)


-


(11.4)



Operating profit

$

32.8


-


-


0.5


13.1


-


46.4


(10.1)


36.3






















Amounts attributable to Brink's:



















Income from continuing operations

$

13.2


-


-


0.4


7.7


1.5


22.8


(6.7)


16.1

Diluted EPS – continuing operations


0.27


-


-


0.01


0.16


0.03


0.47


(0.14)


0.33


See page 7 for notes.

5


The Brink's Company and subsidiaries
Non-GAAP and Adjusted Non-GAAP(g) Results Reconciled to GAAP (Unaudited)
(In millions, except for per share amounts)




GAAP
Basis


Gains and
Losses on
Acquisitions
and
Dispositions

(a)


Net Monetary
Asset Re-
measurement
Losses in
Venezuela

(b)


Employee
Benefit
Settlement
Losses

 (c)


U.S.
Retirement
Plans

(d)


Adjust
Income
Tax
Rate

(e)


Non-
GAAP
Basis


Adjust
Venezuela
to 50
Bolivars to
the U.S.
Dollar

(f)


Adjusted
Non-
GAAP
Basis

(g)



























Third Quarter 2013


Revenues:





















Latin America

$

423.8


-


-


-


-


-


423.8


(100.1)


323.7



EMEA


301.2


-


-


-


-


-


301.2


-


301.2



North America


222.5


-


-


-


-


-


222.5


-


222.5



Asia Pacific


34.9


-


-


-


-


-


34.9


-


34.9




Revenues

$

982.4


-


-


-


-


-


982.4


(100.1)


882.3
























Operating profit:





















Latin America

$

42.8


-


-


0.8


-


-


43.6


(21.9)


21.7



EMEA


32.1


-


-


-


-


-


32.1


-


32.1



North America


0.2


-


-


-


2.9


-


3.1


-


3.1



Asia Pacific


4.8


-


-


-


-


-


4.8


-


4.8




Segment operating profit


79.9


-


-


0.8


2.9


-


83.6


(21.9)


61.7



Non-segment


(20.7)


(0.9)


-


-


10.3


-


(11.3)


-


(11.3)




Operating profit

$

59.2


(0.9)


-


0.8


13.2


-


72.3


(21.9)


50.4
























Amounts attributable to Brink's:




















Income from continuing operations

$

29.8


(0.9)


-


0.6


7.7


(1.8)


35.4


(12.6)


22.8


Diluted EPS – continuing operations


0.61


(0.02)


-


0.01


0.16


(0.04)


0.72


(0.26)


0.46

















































Fourth Quarter 2013


Revenues:





















Latin America

$

470.4


-


-


-


-


-


470.4


(123.0)


347.4



EMEA


305.9


-


-


-


-


-


305.9


-


305.9



North America


226.4


-


-


-


-


-


226.4


-


226.4



Asia Pacific


36.7


-


-


-


-


-


36.7


-


36.7




Revenues

$

1,039.4


-


-


-


-


-


1,039.4


(123.0)


916.4
























Operating profit:





















Latin America

$

59.3


2.2


-


0.9


-


-


62.4


(23.3)


39.1



EMEA


22.1


-


-


-


-


-


22.1


-


22.1



North America


0.2


-


-


-


2.9


-


3.1


-


3.1



Asia Pacific


2.6


0.9


-


-


-


-


3.5


-


3.5




Segment operating profit


84.2


3.1


-


0.9


2.9


-


91.1


(23.3)


67.8



Non-segment


(21.8)


(0.8)


-


-


10.3


-


(12.3)


-


(12.3)




Operating profit

$

62.4


2.3


-


0.9


13.2


-


78.8


(23.3)


55.5
























Amounts attributable to Brink's:




















Income from continuing operations

$

26.0


4.0


-


0.6


8.2


0.2


39.0


(11.2)


27.8


Diluted EPS – continuing operations


0.53


0.08


-


0.01


0.17


-


0.79


(0.23)


0.57



See page 7 for notes.

The Brink's Company and subsidiaries
Non-GAAP and Adjusted Non-GAAP(g) Results Reconciled to GAAP (Unaudited)
(In millions, except for per share amounts)




GAAP
Basis


Gains and
Losses on
Acquisitions
and
Dispositions

(a)


Net Monetary
Asset Re-
measurement
Losses in
Venezuela

(b)


Employee
Benefit
Settlement
Losses

(c)


U.S.
Retirement
Plans

(d)


Adjust
Income
Tax
Rate

(e)


Non-
GAAP
Basis


Adjust
Venezuela
to 50
Bolivars to
the U.S.
Dollar

(f)


Adjusted
Non-
GAAP
Basis

(g)

























Full Year 2013

Revenues:




















Latin America

$

1,720.7


-


-


-


-


-


1,720.7


(391.5)


1,329.2


EMEA


1,178.3


-


-


-


-


-


1,178.3


-


1,178.3


North America


898.4


-


-


-


-


-


898.4


-


898.4


Asia Pacific


144.8


-


-


-


-


-


144.8


-


144.8



Revenues

$

3,942.2


-


-


-


-


-


3,942.2


(391.5)


3,550.7






















Operating profit:




















Latin America

$

149.9


2.2


13.4


2.5


-


-


168.0


(74.8)


93.2


EMEA


81.5


-


-


-


-


-


81.5


-


81.5


North America


4.7


-


-


-


11.6


-


16.3


-


16.3


Asia Pacific


16.7


0.9


-


-


-


-


17.6


-


17.6



Segment operating profit


252.8


3.1


13.4


2.5


11.6


-


283.4


(74.8)


208.6


Non-segment


(81.1)


(2.8)


-


-


41.3


-


(42.6)


-


(42.6)



Operating profit

$

171.7


0.3


13.4


2.5


52.9


-


240.8


(74.8)


166.0






















Amounts attributable to Brink's:



















Income from continuing operations

$

71.9


2.0


8.4


1.8


31.8


-


115.9


(40.0)


75.9

Diluted EPS – continuing operations


1.47


0.04


0.17


0.04


0.65


-


2.37


(0.82)


1.55



(a)   

To eliminate:


  • a $1.1 million adjustment in the first quarter of 2013 to the amount of gain recognized on a 2010 business acquisition in Mexico as a result of a favorable adjustment to the purchase price received in the first quarter of 2013.
  •  $1.7 million of adjustments in the third and fourth quarters of 2013 primarily related to the January 2013 acquisition of Rede Trel in Brazil.
  • $3.1 million in adjustments in the fourth quarter of 2013 related to the increase in a loss contingency assumed in the 2010 Mexico acquisition and the impairment of an intangible asset acquired in the 2009 India acquisition.
  • a $2.6 million tax adjustment related to the Belgium disposition.



(b)   

To eliminate currency exchange losses related to a 16% devaluation of the official exchange rate in Venezuela from 5.3 to 6.3 bolivars to the U.S. dollar in February 2013.

(c)  

To eliminate employee benefit settlement losses in Mexico. 

(d)  

To eliminate expenses related to U.S. retirement plans.

(e)  

To adjust effective income tax rate in the interim period to be equal to the full-year non-GAAP effective income tax rate.  The full-year non-GAAP effective tax rate for 2013 is 33.3%.

(f)  

Effective March 24, 2014, Brink's began remeasuring its Venezuelan operating results using currency exchange rates reported under a newly established currency exchange process in Venezuela (the "SICAD II process").  The rate published for this process averaged 51 for the last 7 days in March 2014 and 50 at March 31, 2014. This adjustment reflects a hypothetical remeasurement of Brink's Venezuela's 2013 revenue and operating results using a rate of 50 bolivars to the U.S. dollar, which approximates the rate observed in the new SICAD II currency exchange process in March 2014.  Losses that would have been recognized in 2013 had Brink's used a rate of 50 bolivars to the U.S. dollar to remeasure its net monetary assets have been excluded from this adjustment and the Adjusted Non-GAAP results.

(g)  

Non-GAAP results adjusted for Venezuelan results at 50 bolivars per U.S. dollar.


Amounts may not add due to rounding.

 

7

Contact:
Investor Relations
804.289.9709

SOURCE The Brink's Company

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As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Organizations do not need a Big Data strategy; they need a business strategy that incorporates Big Data. Most organizations lack a road map for using Big Data to optimize key business processes, deliver a differentiated customer experience, or uncover new business opportunities. They do not understand what’s possible with respect to integrating Big Data into the business model.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...