Welcome!

News Feed Item

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

More Stories By PR Newswire

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

Latest Stories
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that Outscale 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. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze 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. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...
SYS-CON Events announced today that Interoute has been named “Bronze 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. Interoute is the owner operator of Europe's largest network and a global cloud services platform, which encompasses over 70,000 km of lit fiber, 15 data centers, 17 virtual data centers and 33 colocation centers, with connections to 195 additional partner data centers. Our full-service Unifie...
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...
SYS-CON Events announced today that Enzu 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, 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. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, 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. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and valu...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, 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. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.