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AutoNation Reports Record First Quarter EPS from Continuing Operations

- Adjusted EPS from continuing operations was $0.75, a record for first quarter results and an increase of 10% compared to the year-ago period

FORT LAUDERDALE, Fla., April 17, 2014 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN), America's largest automotive retailer, today reported 2014 first quarter adjusted net income from continuing operations of $91 million, or $0.75 per share, compared to net income from continuing operations of $83 million, or $0.68 per share, for the same period in the prior year, a 10% improvement on a per-share basis. On a GAAP basis, first quarter 2014 net income from continuing operations was $96 million, or $0.79 per share. Reconciliations of non-GAAP financial measures are included in the attached financial tables.

2014 first quarter revenue totaled $4.4 billion, compared to $4.1 billion in the year-ago period, an increase of 7%, driven by stronger performance in all business sectors – new vehicles, used vehicles, parts and service, and finance and insurance.  In the first quarter of 2014, AutoNation's retail new vehicle unit sales increased 4% on a same store basis and 6% overall. 

Mike Jackson, Chairman and Chief Executive Officer, said, "AutoNation delivered solid growth in EPS and operating income in the first quarter of 2014 compared to the prior year, driven by gross profit growth in all of our business sectors. We continue to expect U.S. industry new vehicle unit sales to increase 3% to 5%, bringing U.S. industry new vehicle sales above 16 million units in 2014."

During the first quarter of 2014, AutoNation repurchased 2.4 million shares of common stock for an aggregate purchase price of $115.7 million. As of April 16, 2014, AutoNation has approximately $400 million remaining Board authorization for share repurchase and 119 million shares outstanding. 

Segment results(1) for the first quarter of 2014 were as follows:

  • Domestic - Domestic segment income(2) was $64 million compared to year-ago segment income of $59 million, an increase of 9%.
  • Import - Import segment income(2) was $65 million compared to year-ago segment income of $71 million, a decrease of 8%.
  • Premium Luxury - Premium Luxury segment income(2) was $83 million compared to year-ago segment income of $69 million, an increase of 21%.

The first quarter conference call may be accessed by telephone at (888) 769-8515 (password: AutoNation) at 11:00 a.m. Eastern Time or on AutoNation's investor relations website at investors.autonation.com.

The webcast will also be available on our website under "Events & Presentations" following the call. A playback of the conference call will be available after 1:00 p.m. Eastern Time on April 17, 2014, through April 24, 2014 by calling (800) 839-2314 (password 75300).

(1)

AutoNation has three operating segments: Domestic, Import, and Premium Luxury. The Domestic segment is comprised of stores that sell vehicles manufactured by General Motors, Ford, and Chrysler; the Import segment is comprised of stores that sell vehicles manufactured primarily by Toyota, Honda, Nissan, and Hyundai; and the Premium Luxury segment is comprised of stores that sell vehicles manufactured primarily by Mercedes-Benz, BMW, Lexus, and Audi.



(2)

Segment income for each of our segments is defined as operating income less floorplan interest expense.

 

About AutoNation, Inc.
AutoNation is transforming the automotive retail industry through bold leadership.  We deliver a superior automotive retail experience through our customer-focused sales and service processes.   Owning and operating 270 new vehicle franchises, which sell 33 new vehicle brands across 15 states, AutoNation is America's largest automotive retailer, with state-of-the-art operations and the ability to leverage economies of scale that benefit the customer.  As an indication of our leadership position in our industry, AutoNation is a component of the S&P 500 Index. 

Please visit investors.autonation.com, www.autonation.com, www.twitter.com/autonation, www.twitter.com/CEOMikeJackson, www.facebook.com/autonation, and www.facebook.com/CEOMikeJackson, where AutoNation discloses additional information about the Company, its business, and its results of operations.

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "intends," "goals," "plans," "believes," "continues," "may," "will," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding our expectations for the future performance of our franchises and the automotive retail industry, as well as statements that describe our objectives, goals, or plans, are forward-looking statements. Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties and other factors that are difficult to predict and may cause our actual results, performance or achievements to be materially different from any future results, performance and achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: our ability to integrate successfully acquired and awarded franchises and to attain planned sales volumes within our expected time frames; economic conditions generally; conditions in the credit markets and changes in interest rates; the success and financial viability of vehicle manufacturers and distributors with which we hold franchises; factors affecting our goodwill and other intangible asset impairment testing; natural disasters and other adverse weather events; restrictions imposed by vehicle manufacturers; the resolution of legal and administrative proceedings; regulatory factors affecting our business; and other factors described in our news releases and filings made under the securities laws, including, among others, our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K.  Forward-looking statements contained in this news release speak only as of the date of this news release, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

NON-GAAP FINANCIAL MEASURES
This press release and the attached financial tables contain certain non-GAAP financial measures as defined under SEC rules, such as adjusted net income and earnings per share from continuing operations, which exclude certain items disclosed in the attached financial tables. As required by SEC rules, the Company provides reconciliations of these measures to the most directly comparable GAAP measures. The Company believes that these non-GAAP financial measures improve the transparency of the Company's disclosure, provide a meaningful presentation of the Company's results from its core business operations excluding the impact of items not related to the Company's ongoing core business operations, and improve the period-to-period comparability of the Company's results from its core business operations.

AUTONATION, INC. 

UNAUDITED CONDENSED CONSOLIDATED INCOME STATEMENTS

(In millions, except per share data)











Three Months Ended March 31,





2014


2013









Revenue:







New vehicle


$               2,428.6


$               2,257.7



Used vehicle


1,049.7


1,009.7



Parts and service


671.0


636.6



Finance and insurance, net


172.4


155.6



Other


41.8


36.8


Total revenue


4,363.5


4,096.4









Cost of sales:







New vehicle


2,282.7


2,116.0



Used vehicle


955.4


923.7



Parts and service


384.3


364.3



Other


33.7


28.4


Total cost of sales


3,656.1


3,432.4









Gross profit


707.4


664.0









Selling, general and administrative expenses


500.7


473.3


Depreciation and amortization


25.6


22.7


Other income, net


(8.0)


(1.4)









Operating income


189.1


169.4









Non-operating income (expense) items:







Floorplan interest expense


(13.2)


(12.9)



Other interest expense


(21.6)


(22.3)



Interest income


-


0.1



Other income, net


1.5


1.6









Income from continuing operations before income taxes


155.8


135.9









Income tax provision


60.3


52.7









Net income from continuing operations


95.5


83.2









Loss from discontinued operations, net of income taxes


(0.4)


(0.2)
















Net income


$                     95.1


$                     83.0
















Diluted earnings (loss) per share*:







Continuing operations


$                     0.79


$                     0.68



Discontinued operations


$                           -


$                           -










Net income


$                     0.78


$                     0.67
















Weighted average common shares outstanding


121.3


123.0









Common shares outstanding, net of treasury stock, at period end


119.4


121.3
















* Earnings per share amounts are calculated discretely and therefore may not add up to the total.


 

 AUTONATION, INC. 

 UNAUDITED SUPPLEMENTARY DATA 

 ($ in millions, except per vehicle data) 



























Operating Highlights


Three Months Ended March 31,






2014


2013


$ Variance


% Variance


Revenue:












New vehicle


$          2,428.6


$          2,257.7


$             170.9


7.6




  Retail used vehicle


945.8


899.2


46.6


5.2




  Wholesale


103.9


110.5


(6.6)


(6.0)




Used vehicle


1,049.7


1,009.7


40.0


4.0




Finance and insurance, net


172.4


155.6


16.8


10.8



Total variable operations


3,650.7


3,423.0


227.7


6.7



Parts and service


671.0


636.6


34.4


5.4



Other


41.8


36.8


5.0




Total revenue


$          4,363.5


$          4,096.4


$             267.1


6.5


























Gross profit:












New vehicle


$             145.9


$             141.7


$                 4.2


3.0




  Retail used vehicle


92.8


83.4


9.4


11.3




  Wholesale


1.5


2.6


(1.1)






Used vehicle


94.3


86.0


8.3


9.7




Finance and insurance


172.4


155.6


16.8


10.8



Total variable operations


412.6


383.3


29.3


7.6



Parts and service


286.7


272.3


14.4


5.3



Other


8.1


8.4


(0.3)




Total gross profit


707.4


664.0


43.4


6.5














Selling, general and administrative expenses


500.7


473.3


(27.4)


(5.8)














Depreciation and amortization


25.6


22.7


(2.9)




Other income, net


(8.0)


(1.4)


6.6




 Operating income 


189.1


169.4


19.7


11.6














Non-operating income (expense) items:












Floorplan interest expense


(13.2)


(12.9)


(0.3)






Other interest expense


(21.6)


(22.3)


0.7






Interest income


-


0.1


(0.1)






Other income, net


1.5


1.6


(0.1)




Income from continuing operations before income taxes


$             155.8


$             135.9


$               19.9


14.6














Retail vehicle unit sales:












New 


71,223


67,159


4,064


6.1




Used


52,136


50,505


1,631


3.2






123,359


117,664


5,695


4.8














Revenue per vehicle retailed:












New 


$           34,099


$           33,617


$                482


1.4




Used


$           18,141


$           17,804


$                337


1.9














Gross profit per vehicle retailed:












New 


$             2,048


$             2,110


$                 (62)


(2.9)




Used


$             1,780


$             1,651


$                129


7.8




Finance and insurance


$             1,398


$             1,322


$                  76


5.7




Total variable operations(1)


$             3,333


$             3,235


$                  98


3.0




























Operating Percentages


 Three Months Ended March 31, 










2014 (%)


2013 (%)


















Revenue mix percentages:












New vehicle


55.7


55.1








Used vehicle


24.1


24.6








Parts and service


15.4


15.5








Finance and insurance, net


4.0


3.8








Other


0.8


1.0










100.0


100.0


















Gross profit mix percentages:












New vehicle


20.6


21.3








Used vehicle


13.3


13.0








Parts and service


40.5


41.0








Finance and insurance


24.4


23.4








Other


1.2


1.3










100.0


100.0


















Operating items as a percentage of revenue:












Gross profit:












   New vehicle


6.0


6.3








   Used vehicle - retail


9.8


9.3








   Parts and service


42.7


42.8








   Total


16.2


16.2








Selling, general and administrative expenses


11.5


11.6








Operating income


4.3


4.1


















Operating items as a percentage of total gross profit:












Selling, general and administrative expenses


70.8


71.3








Operating income


26.7


25.5






























(1)

Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit sales.


 

 AUTONATION, INC. 

 UNAUDITED SUPPLEMENTARY DATA 

 ($ in millions) 
























Segment Operating Highlights


Three Months Ended March 31,





2014


2013


$ Variance


% Variance
























Revenue:











Domestic


$            1,473.0


$            1,378.0


$                 95.0


6.9



Import


1,549.4


1,503.7


45.7


3.0



Premium luxury


1,306.4


1,172.9


133.5


11.4



    Total segment revenue


4,328.8


4,054.6


274.2


6.8



Corporate and other


34.7


41.8


(7.1)


(17.0)



    Total consolidated revenue


$            4,363.5


$            4,096.4


$               267.1


6.5
























Segment income*











Domestic


$                 63.8


$                 58.6


$                  5.2


8.9



Import


65.4


71.0


(5.6)


(7.9)



Premium luxury


83.3


68.8


14.5


21.1



    Total segment income


212.5


198.4


14.1


7.1













Corporate and other


(36.6)


(41.9)


5.3




Add:  Floorplan interest expense


13.2


12.9


0.3




Operating income


$               189.1


$               169.4


$                 19.7


11.6













* Segment income for each of our segments is defined as operating income less floorplan interest expense















Retail new vehicle unit sales:











Domestic


23,815


22,544


1,271


5.6



Import


34,925


33,032


1,893


5.7



Premium luxury


12,483


11,583


900


7.8





71,223


67,159


4,064


6.1

























Brand Mix - New Vehicle Retail Units Sold













 Three Months Ended March 31, 









2014 (%)


2013 (%)


















Domestic:











   Ford, Lincoln


17.7


18.3







   Chevrolet, Buick, Cadillac, GMC


10.0


10.3







   Chrysler, Jeep, Dodge


5.7


5.0







     Domestic total


33.4


33.6


















Import:











   Honda


11.4


11.1







   Toyota


19.0


20.1







   Nissan


11.6


11.0







   Other imports


7.1


7.0







     Import total


49.1


49.2


















Premium Luxury:











   Mercedes-Benz


7.5


7.4







   BMW


4.6


4.7







   Lexus


2.6


2.2







   Audi


1.0


1.2







   Other premium luxury (Land Rover, Porsche)


1.8


1.7







     Premium Luxury total


17.5


17.2




















100.0


100.0






 

 AUTONATION, INC. 

 UNAUDITED SUPPLEMENTARY DATA, Continued 

 ($ in millions) 










































Capital Expenditures / Stock Repurchases


 Three Months Ended March 31, 








2014


2013















Capital expenditures(1)


$                   34.9


$                  23.1





Cash paid for acquisitions


$                        -


$                    2.8





Proceeds from exercises of stock options


$                   15.3


$                    7.9





Stock repurchases:









          Aggregate purchase price


$                 115.7


$                    2.2





          Shares repurchased (in millions)


2.4


0.1

























Floorplan Assistance and Expense


 Three Months Ended March 31, 






2014


2013


 Variance 























Floorplan assistance earned (included in cost of sales)


$                   24.0


$                   18.6


$                    5.4



New vehicle floorplan interest expense


(12.7)


(12.3)


(0.4)













          Net new vehicle inventory carrying benefit


$                   11.3


$                    6.3


$                    5.0























Balance Sheet and Other Highlights






















March 31, 2014


December 31, 2013


March 31, 2013













Cash and cash equivalents


$                   69.2


$                   69.2


$                   46.3



Inventory


$              2,712.0


$              2,827.2


$              2,499.8



Total floorplan notes payable


$              2,844.2


$              3,029.0


$              2,541.0



Non-vehicle debt


$              1,803.9


$              1,839.9


$              1,957.3



Equity


$              2,068.9


$              2,061.7


$              1,786.6



New days supply (industry standard of selling days)(2)


 61 days 


 62 days 


 62 days 



Used days supply (trailing calendar month days) 


 31 days 


 35 days 


 29 days 

































Key Credit Agreement Covenant Compliance Calculations



















Ratio of funded indebtedness/









Adjusted EBITDA




 2.16x 





Covenant

less than or equal to


 3.75x 















Ratio of funded indebtedness including floorplan/









Total capitalization including floorplan




56.4%





Covenant


less than or equal to


65.0%

























(1) Includes accrued construction in progress and excludes property acquired under capital leases





(2) As of December 31, 2013, we have revised our method of calculating new vehicle days supply to exclude fleet sales and in-transit inventory. We have revised prior periods to conform to our revised method of calculation




 

 AUTONATION, INC. 

 UNAUDITED SUPPLEMENTARY DATA, Continued 

 ($ in millions, except per share data) 













































Comparable Basis Reconciliations*














Three Months Ended March 31,





 Net Income 


 Diluted Earnings Per Share** 
















2014


2013


2014


2013












As reported



$                    95.1


$                    83.0


$                    0.78


$                    0.67













Discontinued operations, net of income taxes



0.4


0.2


$                         -


$                         -











From continuing operations, as reported



95.5


83.2


$                    0.79


$                    0.68













Net gain related to business/property dispositions



(5.0)


-


$                   (0.04)


$                         -












Adjusted 



$                    90.5


$                    83.2


$                    0.75


$                    0.68























*

Please refer to the "Non-GAAP Financial Measures" section of the Press Release.



**

Diluted earnings per share amounts are calculated discretely and therefore may not add up to the total.



 

 AUTONATION, INC. 

 UNAUDITED SAME STORE DATA 

 ($ in millions, except per vehicle data) 



























Operating Highlights


Three Months Ended March 31,






2014


2013


$ Variance


% Variance


Revenue:












New vehicle


$           2,388.2


$           2,257.7


$              130.5


5.8




  Retail used vehicle


931.5


899.2


32.3


3.6




  Wholesale


102.0


110.5


(8.5)


(7.7)




Used vehicle


1,033.5


1,009.7


23.8


2.4




Finance and insurance, net


170.0


155.6


14.4


9.3



Total variable operations


3,591.7


3,423.0


168.7


4.9



Parts and service


660.5


636.6


23.9


3.8



Other


40.6


36.8


3.8




Total revenue


$           4,292.8


$           4,096.4


$              196.4


4.8


























Gross profit:












New vehicle


$              143.6


$              141.7


$                 1.9


1.3




  Retail used vehicle


91.4


83.4


8.0


9.6




  Wholesale


1.4


2.6


(1.2)






Used vehicle


92.8


86.0


6.8


7.9




Finance and insurance


170.0


155.6


14.4


9.3



Total variable operations


406.4


383.3


23.1


6.0



Parts and service


282.3


272.3


10.0


3.7



Other


8.0


8.4


(0.4)




Total gross profit


$              696.7


$              664.0


$               32.7


4.9


























Retail vehicle unit sales:












New 


69,724


67,159


2,565


3.8




Used


51,111


50,505


606


1.2






120,835


117,664


3,171


2.7














Revenue per vehicle retailed:












New 


$            34,252


$            33,617


$                635


1.9




Used


$            18,225


$            17,804


$                421


2.4














Gross profit per vehicle retailed:












New 


$              2,060


$              2,110


$                 (50)


(2.4)




Used


$              1,788


$              1,651


$                137


8.3




Finance and insurance


$              1,407


$              1,322


$                  85


6.4




Total variable operations(1)


$              3,352


$              3,235


$                117


3.6




























Operating Percentages


 Three Months Ended March 31, 










2014 (%)


2013 (%)


















Revenue mix percentages:












New vehicle


55.6


55.1








Used vehicle


24.1


24.6








Parts and service


15.4


15.5








Finance and insurance, net


4.0


3.8








Other


0.9


1.0










100.0


100.0


















Gross profit mix percentages:












New vehicle


20.6


21.3








Used vehicle


13.3


13.0








Parts and service


40.5


41.0








Finance and insurance


24.4


23.4








Other


1.2


1.3










100.0


100.0


















Operating items as a percentage of revenue:












Gross profit:












   New vehicle


6.0


6.3








   Used vehicle - retail


9.8


9.3








   Parts and service


42.7


42.8








   Total


16.2


16.2






























(1)


Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit sales.


 

SOURCE AutoNation, Inc.

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Cloud-based NCLC (No-code/low code) application builder platforms empower everyone in the organization to quickly build applications and executable processes that broaden access, deepen collaboration, and enhance transparency for all team members. Line of business owners (LOBO) and operations managers know best their part of the business and their processes. IT departments are beginning to leverage NCLC platforms to empower and enable LOBOs to lead the innovation, transform the organization, an...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT's direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Buildi...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, 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 inter...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...