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Pall Corporation Reports Third Quarter Results

Pall Corporation (NYSE:PLL) today reported financial results for the third quarter ended April 30, 2014.

  • Sales increased 6%; up 7% in local currency
  • Orders grew 10%; up 10% in local currency
  • Diluted EPS of $0.80 up 23%; pro forma diluted EPS of $0.81 up 9%
  • Maintaining full year pro forma EPS range of $3.35 to $3.45


Third Quarter and Nine Months Continuing Operations Sales and Earnings Overview

Third quarter sales were $682.4 million compared to $641.2 million last year, an increase of over 6% compared to last year. Sales in local currency (“LC”) were up about 7%. Diluted EPS were $0.80 in the quarter, compared to $0.65 last year. Pro forma diluted EPS(1) were $0.81, a 9% increase compared to $0.74 a year earlier, including a negative impact of approximately $0.01 from foreign currency translation.

Sales in the nine months were $1.99 billion, an increase of 3% compared to last year. Sales in LC were up 4%. Diluted EPS were $2.17 in the nine months, compared to $2.13 last year. Pro forma diluted EPS(1) were $2.33, an 8% increase compared to $2.15 a year earlier, including a negative impact of approximately $0.07 from foreign currency translation.

Larry Kingsley, Pall Chairman and CEO, said, “We performed well on the top line − up 7% excluding foreign exchange and including the impact of acquisitions. We also had our second consecutive quarter of double-digit orders growth.”

 

Life Sciences – Third Quarter Highlights

 
(Dollar Amounts in Millions and Discussion of Sales Changes are in Local Currency)
                           

Sales:

APR. 30, 2014   APR. 30, 2013

%

CHANGE

% CHANGE IN

LC

BioPharmaceuticals $ 236 $ 208 13 12
Food & Beverage 46 43 6 8
Medical   56   54 5 3
Total Consumables 338 305 11 10
Systems   31   21 49 48
Total Life Sciences segment $ 369 $ 326 13 12
 
Gross profit $ 202 $ 188
% of sales 54.9 57.5
Segment profit $ 88 $ 81
% of sales 24.0 24.9
 

BioPharmaceuticals: Consumables sales grew 12% compared to last year, on overall strength and the benefit of our recent acquisitions.

Food and Beverage: Consumables sales grew 8% compared to last year, on strength in the Americas and Asia.

Medical: Consumables sales grew 3% compared to last year, on the benefit of OEM sales from another recent acquisition, Medistad.

Systems: Sales grew 48% compared to last year, on timing of both BioPharmaceuticals and Food & Beverage projects.

 

Industrial – Third Quarter Highlights

 
(Dollar Amounts in Millions and Discussion of Sales Changes are in Local Currency)
                           

Sales:

APR. 30, 2014   APR. 30, 2013

%

CHANGE

% CHANGE IN

LC

Process Technologies $ 137 $ 140 (2 ) (0 )
Aerospace 54 61 (12 ) (13 )
Microelectronics   75   65 15 18
Total Consumables 266 266 0 1
Systems   47   49 (3 ) (2 )
Total Industrial segment $ 313 $ 315 (1 ) 1
 
Gross profit $ 146 $ 146
% of sales 46.4 46.5
Segment profit $ 49 $ 46
% of sales 15.7 14.6
 

Process Technologies: Consumables sales were flat compared to last year, on growth in Machinery & Equipment and Power Generation offset by decline in Fuels & Chemicals.

Aerospace: Consumables sales decreased 13% compared to last year, on difficult year-over-year comparisons from large aftermarket sales and helicopter program shipments in Q3 of last year that did not repeat.

Microelectronics: Consumables sales grew 18% compared to last year, on continued market strength as well as new business wins.

Systems: Sales decreased 2% compared to last year, primarily due to a decline in capital spend on Fuels & Chemicals projects.

Conclusion/Outlook

Kingsley concluded, “We remain firmly on track to deliver on our plan for the year of mid-single digit top line growth and pro forma EPS in the range of $3.35 to $3.45, which would represent growth of 10−13% over fiscal 2013.” (1)

Conference Call

On Thursday, May 29, 2014, at 8:30 am ET, Pall Corporation will host a conference call to review these results. The call can be accessed at www.pall.com/investor. The webcast will be archived for 30 days.

About Pall Corporation

Pall Corporation (NYSE:PLL) is a filtration, separation and purification leader providing solutions to meet the critical fluid management needs of customers across the broad spectrum of life sciences and industry. Pall works with customers to advance health, safety and environmentally responsible technologies. The Company’s engineered products enable process and product innovation and minimize emissions and waste. Pall Corporation is an S&P 500 company serving customers worldwide. Follow us on Twitter @PallCorporation or visit www.pall.com.

Forward-Looking Statements

The matters discussed in this press release contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Results for the third quarter of fiscal year 2014 are preliminary until our Form 10-Q is filed with the Securities and Exchange Commission on or before June 9, 2014. Forward-looking statements are those that address activities, events or developments that the Company or management intends, expects, projects, believes or anticipates will or may occur in the future. All statements regarding future performance, earnings projections, earnings guidance, management’s expectations about its future cash needs, dilution from the disposition or future allocation of capital and effective tax rate, and other future events or developments are forward-looking statements. Forward-looking statements are those that use terms such as “may,” “will,” “expect,” “believe,” “intend,” “should,” “could,” “anticipate,” “estimate,” “forecast,” “project,” “plan,” “predict,” “potential,” and similar expressions. Forward-looking statements contained in this and other written and oral reports are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors.

The Company’s forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance, and actual results, developments and business decisions may differ materially from those envisaged by the Company’s forward-looking statements. Such risks and uncertainties include, but are not limited to, those discussed in Part I, Item 1A, “Risk Factors” in the 2013 Form 10-K, and other reports the Company files with the Securities and Exchange Commission, including: the impact of disruptions in the supply of raw materials and key components from suppliers, including limited or single source suppliers; the impact of terrorist acts, conflicts and wars or natural disasters; the extent to which special U.S. and foreign government laws and regulations may expose the Company to liability or impair its ability to compete in international markets; the impact of economic, political, social and regulatory instability in emerging markets, and other risks characteristic of doing business in emerging markets; fluctuations in foreign currency exchange rates and interest rates; the impact of a significant disruption in, or breach in security of, the Company’s information technology systems, or the failure to implement, manage or integrate new systems, software or technologies successfully; the Company’s ability to successfully complete or integrate acquisitions; the Company’s ability to develop innovative and competitive new products; the impact of global and regional economic conditions and legislative, regulatory and political developments; the Company’s ability to comply with a broad array of regulatory requirements; the loss of one or more members of the Company’s senior management team and its ability to recruit and retain qualified management personnel; changes in the demand for the Company’s products and the maintenance of business relationships with key customers; changes in product mix and product pricing, particularly with respect to systems products and associated hardware and devices for the Company’s consumable filtration products; product defects and unanticipated use or inadequate disclosure with respect to the Company’s products; the Company’s ability to deliver its backlog on time; increases in manufacturing and operating costs and/or the Company’s ability to achieve the savings anticipated from its structural cost improvement initiatives; the impact of environmental, health and safety laws and regulations and violations; the Company’s ability to enforce patents or protect proprietary products and manufacturing techniques; costs and outcomes of pending or future litigation and the availability of insurance or indemnification rights; changes in the Company’s effective tax rate; the Company’s ability to compete effectively in domestic and global markets; and the effect of the restrictive covenants in the Company’s debt facilities. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company makes these statements as of the date of this disclosure and undertakes no obligation to update them, whether as a result of new information, future developments or otherwise.

Management uses certain non-GAAP measurements to assess the Company’s current and future financial performance. The non-GAAP measurements do not replace the presentation of the Company’s GAAP financial results. These measurements provide supplemental information to assist management in analyzing the Company’s financial position and results of operations. The Company has chosen to provide this information to facilitate meaningful comparisons of past, present and future operating results and as a means to emphasize the results of ongoing operations.

 
PALL CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Amounts in Thousands)
 
          APR. 30, 2014       JUL. 31, 2013
 
Assets:
 
Cash and cash equivalents $ 870,874 $ 936,886
Accounts receivable 564,782 566,335
Inventories 428,648 381,047
Other current assets   163,044   165,761
Total current assets   2,027,348   2,050,029
 
Property, plant and equipment 799,197 774,948
Other assets   819,720   647,862
Total assets $ 3,646,265 $ 3,472,839
 
Liabilities and Stockholders' Equity:
 
Short-term debt $ 305,365 $ 170,387
Accounts payable, income taxes and other current liabilities   555,147   558,684
Total current liabilities 860,512 729,071
 
Long-term debt, net of current portion 463,666 467,319
Deferred taxes and other non-current liabilities   500,917   461,493
Total liabilities 1,825,095 1,657,883
 
Stockholders' equity   1,821,170   1,814,956
Total liabilities and stockholders' equity $ 3,646,265 $ 3,472,839
 
 
PALL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(Amounts in Thousands, Except Per Share Data)
 
 
          THIRD QUARTER ENDED     NINE MONTHS ENDED
APR. 30, 2014     APR. 30, 2013 APR. 30, 2014     APR. 30, 2013
 
Net sales $ 682,445 $ 641,190 $ 1,989,193 $ 1,931,245

Cost of sales (a)

  334,371     307,111     971,146     928,120  
Gross profit   348,074     334,079     1,018,047     1,003,125  
% of sales 51.0 % 52.1 % 51.2 % 51.9 %
Selling, general and administrative expenses 201,045 199,595 592,228 601,569
% of sales 29.5 % 31.1 % 29.8 % 31.1 %
Research and development   26,644     22,608     74,890     68,582  
Operating profit 120,385 111,876 350,929 332,974
% of sales 17.6 % 17.4 % 17.6 % 17.2 %

Restructuring and other charges ("ROTC") (b)

11,542 12,824 29,910 21,497

Interest expense, net (d)

  4,747     5,298     15,919     10,747  
Earnings from continuing operations before income taxes 104,096 93,754 305,100 300,730

Provision for income taxes (c)

  15,405     19,483     61,230     56,975  
Net earnings from continuing operations $ 88,691 $ 74,271 $ 243,870 $ 243,755
Earnings/(loss) from discontinued operations, net of income taxes   -     (1,206 )   -     245,552  
Net Earnings $ 88,691   $ 73,065   $ 243,870   $ 489,307  
 
Average shares outstanding:
Basic 110,183 111,964 110,946 112,979
Diluted 111,466 113,311 112,215 114,415
 

Earnings/(loss) per share:

From continuing operations:
Basic $ 0.80 $ 0.66 $ 2.20 $ 2.16
Diluted $ 0.80 $ 0.65 $ 2.17 $ 2.13
 
From discontinued operations:
Basic $ - $ (0.01 ) $ - $ 2.17
Diluted $ -   $ (0.01 ) $ -   $ 2.15  
 
Total
Basic $ 0.80 $ 0.65 $ 2.20 $ 4.33
Diluted $ 0.80   $ 0.64   $ 2.17   $ 4.28  
 

Pro forma diluted earnings per share:

From continuing operations $ 0.81   $ 0.74   $ 2.33   $ 2.15  
 
 
PALL CORPORATION
RECONCILIATION OF PRO FORMA EARNINGS
(Unaudited)
(Amounts in Thousands, Except Per Share Data)
 
 
          THIRD QUARTER ENDED     NINE MONTHS ENDED
APR. 30, 2014     APR. 30, 2013 APR. 30, 2014     APR. 30, 2013
 

Pro forma earnings reconciliation from continuing operations

Net earnings from continuing operations as reported $ 88,691 $ 74,271 $ 243,870 $ 243,755
Discrete items:

Cost of sales adjustment, after pro forma tax effect (a)

1,419 - 1,419 -

ROTC, after pro forma tax effect (b)

10,272 9,283 26,055 16,245

Tax adjustments (c)

(9,090 ) - (9,090 ) (10,193 )

Interest adjustments, after pro forma tax effect (d)

  (1,138 )   -   (1,138 )   (4,268 )
Total discrete items   1,463     9,283   17,246     1,784  
Pro forma earnings from continuing operations $ 90,154   $ 83,554 $ 261,116   $ 245,539  
 
                            FISCAL YEAR
THIRD QUARTER ENDED NINE MONTHS ENDED 2014 (ESTIMATE
APR. 30, 2014 APR. 30, 2013 APR. 30, 2014 APR. 30, 2013   AT MIDPOINT)
 

Diluted earnings per share from continuing operations as reported

$ 0.80 $ 0.65 $ 2.17 $ 2.13 $ 3.24
Discrete items:

Cost of sales adjustment, after pro forma tax effect (a)

0.01 0.00 0.01 0.00 0.01

ROTC, after pro forma tax effect (b)

0.09 0.09 0.24 0.15 0.24

Tax adjustments (c)

(0.08 ) - (0.08 ) (0.09 ) (0.08 )

Interest adjustments, after pro forma tax effect (d)

  (0.01 )   -   (0.01 )   (0.04 )   (0.01 )
Total discrete items   0.01     0.09   0.16     0.02     0.16  

Pro forma diluted earnings per share from continuing operations

$ 0.81   $ 0.74 $ 2.33   $ 2.15   $ 3.40  
 

Pro forma earnings measures exclude the items described below as they are deemed to be non-recurring in nature and/or not considered by management to be indicative of underlying operating performance. The pro forma tax effects disclosed were calculated using applicable entity-specific tax rates.

(a) Cost of sales in the quarter and nine months ended April 30, 2014 includes a purchase accounting adjustment of $2,165 ($1,419 after pro forma tax effect of $746) related to the step up of acquired inventory.

(b) ROTC in the quarter and nine months ended April 30, 2014 of $11,542 ($10,272 after pro forma tax effect of $1,270) and $29,910 ($26,055 after pro forma tax effect of $3,855), respectively primarily includes severance costs related to the Company's structural cost improvement initiative. The nine months ended April 30, 2014 also includes an increase to environmental reserves.

ROTC in the quarter and nine months ended April 30, 2013 of $12,824 ($9,283 after pro forma tax effect of $3,541) and $21,497 ($16,245 after pro forma tax effect of $5,252), respectively primarily includes severance costs related to the Company's structural cost improvement initiative, certain employment contract obligations and an increase to environmental reserves.

(c) Provision for income taxes in the quarter and nine months ended April 30, 2014 includes a net benefit of $9,090 related to the resolution of foreign tax audits, partly offset by additional tax costs related to the Blood divestiture.

Provision for income taxes in the nine months ended April 30, 2013 includes a net benefit of $10,193 related to the resolution of a U.S. tax audit partially offset by the tax cost of repatriation of foreign earnings.

(d) Interest expense, net, in the quarter and nine months ended April 30, 2014 includes the reversal of accrued interest of $1,478 ($1,138 after pro forma tax effect of $340) related to the resolution of foreign tax audits as described in (c) above.

Interest expense, net, in the nine months ended April 30, 2013 includes the reversal of accrued interest of $6,704 ($4,268 after pro forma tax effect of $2,436) related to the resolution of a U.S. tax audit as described in (c) above.

 
PALL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Amounts in Thousands)
 
 
          NINE MONTHS ENDED
APR. 30, 2014       APR. 30, 2013

 (2)

 
Net cash provided by operating activities $ 342,164   $ 206,890  
 
Investing activities:
 
Acquisitions of businesses (195,262 ) -
Capital expenditures (50,301 ) (66,387 )
Proceeds from sale of assets 5,618 537,284
Other   (2,665 )   (676 )
Net cash provided/(used) by investing activities   (242,610 )   470,221  
 
Financing activities:
 
Dividends paid (88,596 ) (80,197 )
Notes payable and long-term borrowings/(repayments) 130,520 9,682
Purchase of treasury stock (250,000 ) (250,000 )
Other   25,141     39,785  
Net cash used by financing activities   (182,935 )   (280,730 )
 
Cash flow for period (83,381 ) 396,381
Cash and cash equivalents at beginning of year 936,886 500,274
Effect of exchange rate changes on cash   17,369     7,312  
Cash and cash equivalents at end of period $ 870,874   $ 903,967  
 
 

Free cash flow:

Net cash provided by operating activities $ 342,164 $ 206,890
Less capital expenditures   50,301     66,387  
Free cash flow $ 291,863   $ 140,503  
 
 
PALL CORPORATION
SUMMARY SEGMENT PROFIT BY SEGMENT FROM CONTINUING OPERATIONS
(Unaudited)
(Dollar Amounts in Thousands)
 
          THIRD QUARTER ENDED       NINE MONTHS ENDED
APR. 30, 2014     APR. 30, 2013 APR. 30, 2014     APR. 30, 2013
 

Life Sciences

Sales $ 368,835 $ 326,097 $ 1,041,011 $ 955,230
Cost of sales   166,394     138,473     456,428     399,516  
Gross profit 202,441 187,624 584,583 555,714
% of sales 54.9 % 57.5 % 56.2 % 58.2 %
 
Selling, general and administrative expenses 97,391 91,897 284,441 277,216
% of sales 26.4 % 28.2 % 27.3 % 29.0 %
Research and development   16,711     14,532     47,902     44,984  
Segment profit $ 88,339   $ 81,195   $ 252,240   $ 233,514  
% of sales 24.0 % 24.9 % 24.2 % 24.4 %
 

Industrial

Sales $ 313,610 $ 315,093 $ 948,182 $ 976,015
Cost of sales   167,977     168,638     514,718     528,604  
Gross profit 145,633 146,455 433,464 447,411
% of sales 46.4 % 46.5 % 45.7 % 45.8 %
 
Selling, general and administrative expenses 86,350 92,526 259,753 277,090
% of sales 27.5 % 29.4 % 27.4 % 28.4 %
Research and development   9,933     8,076     26,988     23,598  
Segment profit $ 49,350   $ 45,853   $ 146,723   $ 146,723  
% of sales 15.7 % 14.6 % 15.5 % 15.0 %
 

Consolidated:

Segment profit $ 137,689 $ 127,048 $ 398,963 $ 380,237
Corporate services group   17,304     15,172     48,034     47,263  
Operating profit 120,385 111,876 350,929 332,974
% of sales 17.6 % 17.4 % 17.6 % 17.2 %
ROTC 11,542 12,824 29,910 21,497
Interest expense, net   4,747     5,298     15,919     10,747  

Earnings from continuing operations before income taxes

$ 104,096   $ 93,754   $ 305,100   $ 300,730  
 
 
PALL CORPORATION
SUPPLEMENTAL SEGMENT SALES INFORMATION BY PRODUCT/MARKET AND REGION
FROM CONTINUING OPERATIONS
(Unaudited)
(Dollar Amounts in Thousands)
 
                            EXCHANGE       % CHANGE
RATE IN LOCAL
THIRD QUARTER ENDED APR. 30, 2014 APR. 30, 2013 % CHANGE IMPACT CURRENCY
 

Life Sciences

|-------------- Increase/(Decrease) -------------|
By Product/Market:
BioPharmaceuticals $ 235,724 $ 208,219 13.2 $ 2,503 12.0
Food & Beverage 46,097 43,436 6.1 (975 ) 8.4
Medical   56,212   53,705 4.7   948   2.9
Total Consumables 338,033 305,360 10.7 2,476 9.9
Systems   30,802   20,737 48.5   105     48.0
Total Life Sciences $ 368,835 $ 326,097 13.1 $ 2,581     12.3
 
By Region:
Americas $ 108,612 $ 101,994 6.5 $ (2,831 ) 9.3
Europe 188,073 162,284 15.9 9,449 10.1
Asia   72,150   61,819 16.7   (4,037 ) 23.2
Total Life Sciences $ 368,835 $ 326,097 13.1 $ 2,581   12.3
 
 

Industrial

By Product/Market:
Process Technologies $ 137,348 $ 139,711 (1.7 ) $ (1,872 ) (0.4 )
Aerospace 54,088 61,466 (12.0 ) 848 (13.4 )
Microelectronics   74,403   64,492 15.4   (1,378 ) 17.5
Total Consumables 265,839 265,669 0.1 (2,402 ) 1.0
Systems   47,771   49,424 (3.3 )   (779 ) (1.8 )
Total Industrial $ 313,610 $ 315,093 (0.5 ) $ (3,181 ) 0.5
 
By Region:
Americas $ 107,087 $ 107,390 (0.3 ) $ (2,020 ) 1.6
Europe 88,635 96,764 (8.4 ) 3,912 (12.4 )
Asia   117,888   110,939 6.3   (5,073 ) 10.8
Total Industrial $ 313,610 $ 315,093 (0.5 ) $ (3,181 ) 0.5
 
 
PALL CORPORATION
SUPPLEMENTAL SEGMENT SALES INFORMATION BY PRODUCT/MARKET AND REGION
FROM CONTINUING OPERATIONS
(Unaudited)
(Dollar Amounts in Thousands)
 
                            EXCHANGE       % CHANGE
RATE IN LOCAL
NINE MONTHS ENDED APR. 30, 2014 APR. 30, 2013 % CHANGE IMPACT CURRENCY
 

Life Sciences

|-------------- Increase/(Decrease) -------------|
By Product/Market:
BioPharmaceuticals $ 650,467 $ 597,117 8.9 $ 127 8.9
Food & Beverage 133,720 130,269 2.6 (2,558 ) 4.6
Medical   168,589   154,579 9.1   1,098   8.4
Total Consumables 952,776 881,965 8.0 (1,333 ) 8.2
Systems   88,235   73,265 20.4   (495 )   21.1
Total Life Sciences $ 1,041,011 $ 955,230 9.0 $ (1,828 )   9.2
 
By Region:
Americas $ 308,701 $ 303,810 1.6 $ (6,496 ) 3.7
Europe 536,828 465,309 15.4 20,710 10.9
Asia   195,482   186,111 5.0   (16,042 ) 13.7
Total Life Sciences $ 1,041,011 $ 955,230 9.0 $ (1,828 ) 9.2
 
 

Industrial

By Product/Market:
Process Technologies $ 402,090 $ 432,826 (7.1 ) $ (6,771 ) (5.5 )
Aerospace 166,181 177,954 (6.6 ) 1,200 (7.3 )
Microelectronics   222,795   202,938 9.8   (10,820 ) 15.1
Total Consumables 791,066 813,718 (2.8 ) (16,391 ) (0.8 )
Systems   157,116   162,297 (3.2 )   (3,216 ) (1.2 )
Total Industrial $ 948,182 $ 976,015 (2.9 ) $ (19,607 ) (0.8 )
 
By Region:
Americas $ 315,505 $ 317,699 (0.7 ) $ (4,191 ) 0.6
Europe 284,136 300,943 (5.6 ) 8,916 (8.5 )
Asia   348,541   357,373 (2.5 )   (24,332 ) 4.3
Total Industrial $ 948,182 $ 976,015 (2.9 ) $ (19,607 ) (0.8 )
 
Notes to Release:
(1)     Pro forma diluted EPS are defined as Reported diluted EPS on a continuing operations basis adjusted for “Discrete Items.” Discrete items are defined as Restructuring & Other Charges (ROTC) and other items that are deemed to be non-recurring in nature and/or not considered by management to be indicative of underlying operating performance. A reconciliation of Reported to Pro forma amounts can be found in the Reconciliation of Pro forma Earnings table accompanying this release.
 
(2) Cash flows in the nine months ended April 30, 2013 are inclusive of discontinued operations.
 

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SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...