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Universal Health Services, Inc. Reports 2014 First Quarter Financial Results And Acquisition Of Behavioral Health Care Facility In Washington, D.C.

Consolidated Results of Operations, As Reported - Three-month periods ended March 31, 2014 and 2013:

KING OF PRUSSIA, Pa., April 24, 2014 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS was $138.1 million, or $1.38 per diluted share, during the first quarter of 2014 as compared to $119.8 million, or $1.21 per diluted share, during the comparable quarter of 2013.  Net revenues increased 4.8% to $1.92 billion during the first quarter of 2014 as compared to $1.83 billion during the first quarter of 2013. 

Consolidated Results of Operations, As Adjusted – Three-month periods ended March 31, 2014 and 2013:

For the three-month period ended March 31, 2014, our adjusted net income attributable to UHS, as calculated on the attached Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule"), increased 13.8% to $136.7 million, or $1.36 per diluted share, as compared to $120.1 million, or $1.22 per diluted share, during the first quarter of 2013.     

As reflected on the Supplemental Schedule, included in our reported results during the first quarter of 2014 was an aggregate net favorable after-tax impact of approximately $1.4 million, or $.02 per diluted share, consisting of: (i) a favorable after-tax impact of $6.3 million, or $.07 per diluted share, resulting from a gain realized on the sale of a non-operating investment, and; (ii) a net unfavorable after-tax impact of approximately $4.9 million, or $.05 per diluted share, related to the incentive income and depreciation and amortization expense recorded in connection with the implementation of electronic health records ("EHR") applications at our acute care hospitals.   

As reflected on the Supplemental Schedule, included in our reported results during the first quarter of 2013, was a net unfavorable after-tax impact of $327,000, or $.01 per diluted share, related to the incentive income and expenses recorded in connection with EHR applications at our acute care hospitals.  

Acute Care Services – Three-month periods ended March 31, 2014 and 2013:

During the first quarter of 2014, at our acute care hospitals owned during both periods ("same facility basis"), adjusted admissions (adjusted for outpatient activity) decreased 0.5% and adjusted patient days increased 4.6%, as compared to the first quarter of 2013. Net revenues at these facilities increased 5.8% during the first quarter of 2014 as compared to the comparable quarter of the prior year. At these facilities, net revenue per adjusted admission increased 6.3% while net revenue per adjusted patient day increased 1.1% during the first quarter of 2014 as compared to the comparable quarter of 2013. On a same facility basis, the operating margin at our acute care hospitals was 19.8% during the first quarter of 2014 as compared to 16.0% during the first quarter of 2013. We define operating margin as net revenues less salaries, wages and benefits, other operating expenses and supplies expense (excluding the EHR impact, as indicated on the Supplemental Schedule).

We provide care to patients who meet certain financial or economic criteria without charge or at amounts substantially less than our established rates. Because we do not pursue collection of amounts determined to qualify as charity care, they are not reported in net revenues or in accounts receivable, net. Our acute care hospitals provided charity care and uninsured discounts, based on gross charges, amounting to approximately $320 million and $230 million during the three-month periods ended March 31, 2014 and 2013, respectively. The increase in charity care and uninsured discounts during the first quarter of 2014 was offset by a decrease in the provision for doubtful accounts which amounted to approximately $182 million during the first quarter of 2014 as compared to approximately $218 million during the first quarter of 2013.  As a percentage of gross charges for our acute care hospitals, charity care, uninsured discounts and provision for doubtful accounts decreased slightly during the first quarter of 2014 as compared to the first quarter of 2013. 

Behavioral Health Care Services – Three-month periods ended March 31, 2014 and 2013:

During the first quarter of 2014, at our behavioral health care facilities on a same facility basis, adjusted admissions increased 2.3% while adjusted patient days remained relatively unchanged as compared to the first quarter of 2013. At these facilities, net revenue per adjusted admission remained relatively unchanged while net revenue per adjusted patient day increased 2.1% during the first quarter of 2014 over the comparable quarter in 2013. On a same facility basis, our behavioral health services' net revenues increased 3.7% during the first quarter of 2014, as compared to the comparable quarter in 2013, and the operating margins were 27.9% and 28.5% during the three-month periods ended March 31, 2014 and 2013, respectively.   

Behavioral Health Care Acquisition

We have completed the acquisition of the Psychiatric Institute of Washington ("PIW"), a 124-bed behavioral health care facility and outpatient treatment center located in the District of Columbia.  As part of this transaction, we also acquired the Arbor Group, L.L.C., which operates three management contracts covering 66 beds in the Washington, D.C. and Maryland market. "We are pleased to have been selected to continue PIW's forty-five year tradition of providing high quality behavioral health services to the region," said Alan B. Miller, Chief Executive Officer.  "The acquisition of PIW complements our 371-bed George Washington University Hospital and further strengthens our presence and commitment to this very important market."

Conference call information:

We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on April 25, 2014. The dial-in number is 1-877-648-7971. 

A live broadcast of the conference call will be available on our website at www.uhsinc.com.  A replay of the call will be available following the conclusion of the live call and will be available for one full year.

General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:

Universal Health Services, Inc. ("UHS") is one of the nation's largest hospital companies, operating acute care and behavioral health hospitals and ambulatory centers nationwide and in Puerto Rico and the U.S. Virgin Islands.  It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE: UHT).  For additional information on the Company, visit our web site: http://www.uhsinc.com.

This press release contains forward-looking statements based on current management expectations.  Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 1A-Risk Factors and in Item 7-Forward-Looking Statements and Risk Factors in our Form 10-K for the year ended December 31, 2013), may cause the results to differ materially from those anticipated in the forward-looking statements.  The operating pressures that we continue to experience in many of our acute care markets has increased the volatility of our financial results making estimation of future results more challenging.  Many of the factors that will determine our future results are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially.  Readers should not place undue reliance on such forward-looking statements which reflect management's view only as of the date hereof.  We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Our acute care hospitals are eligible for Medicare and Medicaid EHR incentive payments upon implementation of the EHR application, once they have demonstrated meaningful use of certified EHR technology for the applicable stage or have completed attestations to their adoption or implementation of certified EHR technology.  However, there may be timing differences in the recognition of the incentive income and expenses recorded in connection with the implementation of the EHR application which may cause material period-to-period changes in our future results of operations. Hospitals that do not qualify as a meaningful user of EHR by 2015 are subject to a reduced market basket update to the inpatient prospective payment system standardized amount in 2015 and each subsequent fiscal year. Although we believe that our acute care hospitals will be in compliance with the EHR standards by 2015, there can be no assurance that all of our facilities will be in compliance and therefore not subject to the penalty provision of the HITECH Act. 

We believe that operating income, operating margin, adjusted net income attributable to UHS, adjusted net income attributable to UHS per diluted share and earnings before interest, taxes, depreciation and amortization ("EBITDA"), which are non-GAAP financial measures ("GAAP" is Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that, when applicable, comparing and discussing our financial results based on these measures, as calculated, is helpful to our investors since it neutralizes the effect in each year of material items that are nonrecurring or non-operational in nature including items such as, but not limited to, costs related to extinguishment of debt, gains on sales of assets and businesses, reserves for settlements, legal judgments and lawsuits and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods.  To obtain a complete understanding of our financial performance these measures should be examined in connection with net income, determined in accordance with GAAP, as presented in the condensed consolidated financial statements and notes thereto in this report or in our other filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2013. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability.  Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies.  Investors are encouraged to use GAAP measures when evaluating our financial performance.

(more)

 

Universal Health Services, Inc.

Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)






Three months


ended March 31,


2014


2013





Net revenues before provision for doubtful accounts

$2,128,350


$2,078,348

  Less: Provision for doubtful accounts

208,184


246,716

Net revenues

1,920,166


1,831,632





Operating charges:




   Salaries, wages and benefits

935,365


902,296

   Other operating expenses

381,760


381,007

   Supplies expense

215,798


204,642

   Depreciation and amortization

93,359


79,812

   Lease and rental expense

23,338


24,665

   Electronic health records incentive income

(430)


(4,712)


1,649,190


1,587,710





Income from operations

270,976


243,922





Interest expense, net

35,193


39,938





Income before income taxes

235,783


203,984





Provision for income taxes

83,931


74,049





Net income

151,852


129,935





Less:  Income attributable to




noncontrolling interests

13,774


10,151





Net income attributable to UHS

$138,078


$119,784

























Basic earnings per share attributable to UHS (a)

$1.40


$1.23





Diluted earnings per share attributable to UHS (a)

$1.38


$1.21





 

 

Universal Health Services, Inc.

Footnotes to Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)






Three months


ended March 31,


2014


2013





(a) Earnings per share calculation:








Basic and diluted:




Net income attributable to UHS

$138,078


$119,784

Less: Net income attributable to unvested restricted share grants

(70)


(69)

Net income attributable to UHS - basic and diluted

$138,008


$119,715





Weighted average number of common shares - basic

98,572


97,711





Basic earnings per share attributable to UHS:

$1.40


$1.23





Weighted average number of common shares

98,572


97,711

Add: Other share equivalents

1,585


860

Weighted average number of common shares and equiv. - diluted

100,157


98,571





Diluted earnings per share attributable to UHS:

$1.38


$1.21





 

 

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule")

For the three months ended March 31, 2014 and 2013

(in thousands, except per share amounts)

(unaudited)

























Calculation of "EBITDA"










Three months ended


Three months ended


March 31, 2014


March 31, 2013

















Net revenues before provision for doubtful accounts

$2,128,350




$2,078,348



  Less: Provision for doubtful accounts

208,184




246,716



Net revenues

1,920,166


100.0%


1,831,632


100.0%









Operating charges:








   Salaries, wages and benefits

935,365


48.7%


902,296


49.3%

   Other operating expenses

381,760


19.9%


381,007


20.8%

   Supplies expense

215,798


11.2%


204,642


11.2%

   EHR incentive income

(430)


0.0%


(4,712)


-0.3%


1,532,493


79.8%


1,483,233


81.0%









Operating income/margin ("EBITDAR")

387,673


20.2%


348,399


19.0%









   Lease and rental expense

23,338




24,665



   Income attributable to noncontrolling interests

13,774




10,151











Earnings before, depreciation and amortization, interest expense, and income taxes ("EBITDA")

350,561


18.3%


313,583


17.1%









   Depreciation and amortization

93,359




79,812



   Interest expense, net

35,193




39,938











Income before income taxes 

222,009




193,833











Provision for income taxes

83,931




74,049



Net income attributable to UHS

$138,078




$119,784



















Calculation of Adjusted Net Income Attributable to UHS










Three months ended


Three months ended


March 31, 2014


March 31, 2013




Per




Per


Amount


Diluted Share


Amount


Diluted Share

Calculation of Adjusted Net Income Attributable to UHS - including and excluding EHR impact:








Net income attributable to UHS

$138,078


$1.38


$119,784


$1.21

Plus/minus adjustments:








  Gain on sale of investment, net of income taxes

(6,330)


(0.07)


-


-

Adjusted net income attributable to UHS - including Electronic Health Records ("EHR") impact

$131,748


$1.31


$119,784


$1.21









Plus/minus impact of EHR implementation: 








EHR-related incentive income, pre-tax

(430)




(4,712)



EHR-related salaries, wages and benefits, pre-tax

-




326



EHR-related other operating costs, pre-tax

-




(35)



EHR-related depreciation & amortization, pre-tax

9,290




5,486



EHR-related minority interest in earnings of consolidated entities, pre-tax

(966)




(541)



Income tax provision on EHR-related items 

(2,948)




(197)



After-tax impact of EHR-related items

4,946


0.05


327


0.01

Adjusted net income attributable to UHS

$136,694


$1.36


$120,111


$1.22









 

 

Universal Health Services, Inc.

Consolidated Statements of Comprehensive Income

(in thousands)

(unaudited)






Three months


ended March 31,


2014


2013





Net income

$151,852


$129,935

Other comprehensive income (loss):




   Unrealized derivative gains (loss) on cash flow hedges

3,745


4,535

   Amortization of terminated hedge

(84)


(84)

Other comprehensive income before tax

3,661


4,451

Income tax expense related to items of other comprehensive income

1,354


1,678

Total other comprehensive income, net of tax

2,307


2,773





Comprehensive income

154,159


132,708

Less: Comprehensive income attributable to noncontrolling interests

13,774


10,151

Comprehensive income attributable to UHS

$140,385


$122,557





 

 

Universal Health Services, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)











March 31,



December 31,




2014



2013

Assets







Current assets:







    Cash and cash equivalents


$

16,261


$

17,238

    Accounts receivable, net



1,212,594



1,116,961

    Supplies



102,276



101,781

    Deferred income taxes



114,297



119,903

    Other current assets



97,685



76,446

          Total current assets



1,543,113



1,432,329








Property and equipment



5,789,393



5,691,902

Less: accumulated depreciation



(2,321,221)



(2,249,733)




3,468,172



3,442,169








Other assets:







    Goodwill



3,053,666



3,049,016

    Deferred charges



53,521



57,881

    Other



312,913



330,328



$

8,431,385


$

8,311,723








Liabilities and Stockholders' Equity







Current liabilities:







    Current maturities of long-term debt


$

103,641


$

99,312

    Accounts payable and accrued liabilities



954,902



953,449

    Federal and state taxes



51,905



7,127

          Total current liabilities



1,110,448



1,059,888








Other noncurrent liabilities



282,173



284,589

Long-term debt



3,109,158



3,209,762

Deferred income taxes



257,344



239,148








Redeemable noncontrolling interest



228,107



218,107








UHS common stockholders' equity



3,392,119



3,249,979

Noncontrolling interest



52,036



50,250

          Total equity



3,444,155



3,300,229










$

8,431,385


$

8,311,723








 

 

Universal Health Services, Inc.

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)


Three months


ended March 31,


2014


2013





Cash Flows from Operating Activities:




  Net income

$151,852


$129,935

  Adjustments to reconcile net income to net 




cash provided by operating activities:




Depreciation & amortization

93,359


79,923

Gains on sales of assets and businesses, net of losses

(10,134)


(2,092)

Stock-based compensation expense

7,152


7,111

  Changes in assets & liabilities, net of effects from




acquisitions and dispositions:




   Accounts receivable

(95,633)


(81,859)

   Accrued interest

11,063


11,497

   Accrued and deferred income taxes 

65,321


59,624

   Other working capital accounts 

(34,999)


(39,785)

   Other assets and deferred charges

9,982


6,662

   Other 

(3,833)


1,604

   Accrued insurance expense, net of commercial premiums paid

21,302


22,962

   Payments made in settlement of self-insurance claims

(20,793)


(17,085)

          Net cash provided by operating activities

194,639


178,497





Cash Flows from Investing Activities:




   Property and equipment additions, net of disposals

(92,387)


(95,919)

   Proceeds received from sale of assets and businesses

11,450


6,657

   Acquisition of property and businesses

(3,301)


0

   Costs incurred for purchase and implementation of electronic health records application

(6,504)


(16,412)

          Net cash used in investing activities

(90,742)


(105,674)





Cash Flows from Financing Activities:




   Reduction of long-term debt

(109,054)


(69,926)

   Additional borrowings

11,900


9,500

   Repurchase of common shares

(13,993)


(14,027)

   Dividends paid

(4,933)


(4,870)

   Issuance of common stock

1,445


1,232

   Excess income tax benefits related to stock-based compensation

11,750


9,266

   Profit distributions to noncontrolling interests

(1,989)


(10,074)

          Net cash used in financing activities

(104,874)


(78,899)





Decrease in cash and cash equivalents

(977)


(6,076)

Cash and cash equivalents, beginning of period

17,238


23,471

Cash and cash equivalents, end of period

$16,261


$17,395





Supplemental Disclosures of Cash Flow Information:




  Interest paid

$18,893


$22,982





  Income taxes paid, net of refunds

$6,764


$4,908





 

 

Universal Health Services, Inc.

Supplemental Statistical Information

(unaudited)


















 % Change 






Quarter Ended

Same Facility:





3/31/2014







Acute Care 






Revenues





5.8%

Adjusted Admissions





-0.5%

Adjusted Patient Days





4.6%

Revenue Per Adjusted Admission





6.3%

Revenue Per Adjusted Patient Day





1.1%













Behavioral Health 












Revenues





3.7%

Adjusted Admissions





2.3%

Adjusted Patient Days





0.1%

Revenue Per Adjusted Admission





-0.1%

Revenue Per Adjusted Patient Day





2.1%

























UHS Consolidated



First Quarter Ended




3/31/2014


3/31/2013







Revenues



$1,920,166


$1,831,632

EBITDA   (1)



$350,561


$313,583

EBITDA Margin (1)



18.3%


17.1%







Cash Flow From Operations



$194,639


$178,497

Days Sales Outstanding



57


56

Capital Expenditures



$92,387


$95,919







Debt 



3,212,799


3,670,474

Shareholders Equity



3,392,119


2,834,907

Debt / Total Capitalization



48.6%


56.4%

Debt / EBITDA (2)



2.39


3.02

Debt / Cash From Operations (2)



3.57


4.24













Acute Care EBITDAR Margin (3)



19.8%


16.0%

Behavioral Health EBITDAR Margin(3)



27.9%


28.5%













(1)  Net of Minority Interest






(2)  Latest 4 quarters






(3)  Same facility basis before Corporate overhead allocation and minority interest. 







 

 

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE THREE MONTHS ENDED

MARCH 31, 2014 AND 2013



















AS REPORTED:




















Acute 



Behavioral Health




03/31/14

03/31/13

%


03/31/14

03/31/13

%










Hospitals owned and leased


24

23

4.3%


181

184

-1.6%

Average licensed beds


5,757

5,617

2.5%


19,761

20,024

-1.3%

Patient days


299,874

290,700

3.2%


1,334,777

1,355,054

-1.5%

Average daily census


3,331.9

3,230.0

3.2%


14,830.9

15,056.2

-1.5%

Occupancy-licensed beds


57.9%

57.5%

0.6%


75.1%

75.2%

-0.2%

Admissions


62,700

63,739

-1.6%


103,895

101,396

2.5%

Length of stay


4.8

4.6

4.9%


12.8

13.4

-3.9%










Inpatient revenue


$3,876,364

$3,507,040

10.5%


$1,608,899

$1,576,148

2.1%

Outpatient revenue


1,957,491

1,651,575

18.5%


184,115

185,802

-0.9%

Total patient revenue


5,833,855

5,158,615

13.1%


1,793,014

1,761,950

1.8%

Other revenue


34,549

31,125

11.0%


43,622

31,100

40.3%

Gross hospital revenue


5,868,404

5,189,740

13.1%


1,836,636

1,793,050

2.4%










Total deductions


4,714,663

4,062,963

16.0%


865,314

854,899

1.2%










Net hospital revenue before









provision for doubtful accounts


$1,153,741

$1,126,777

2.4%


$971,322

$938,151

3.5%










Provision for doubtful accounts


$182,350

$218,043

-16.4%


25,865

28,607

-9.6%










Net hospital revenue 


$971,391

$908,734

6.9%


$945,457

$909,544

3.9%



















SAME FACILITY:











Acute  (1)



Behavioral Health (2)




03/31/14

03/31/13

%


03/31/14

03/31/13

%










Hospitals owned and leased


23

23

0.0%


178

178

0.0%

Average licensed beds


5,617

5,617

0.0%


19,472

19,339

0.7%

Patient days


297,486

290,700

2.3%


1,320,210

1,314,603

0.4%

Average daily census


3,305.4

3,230.0

2.3%


14,669.0

14,606.7

0.4%

Occupancy-licensed beds


58.8%

57.5%

2.3%


75.3%

75.5%

-0.3%

Admissions


62,014

63,739

-2.7%


103,300

100,663

2.6%

Length of stay


4.8

4.6

5.2%


12.8

13.1

-2.1%




























(1) Temecula is excluded in both current and prior years











(2) Austin Oaks, Bristol Youth Academy, Community BH, Gulph Coast Treatment Center, John Costigan Ctr, Okaloosa Youth Academy, Palo Verde and The Peaks are excluded in both current and prior years. Garfield Park is excluded in both current and prior years in January only.













 

SOURCE Universal Health Services, Inc.

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SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, 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. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
SYS-CON Events announced today that VAI, a leading ERP software 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. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, 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. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...