Welcome!

News Feed Item

Teradyne Reports Strong Sequential Growth in Second Quarter 2014 Orders, Revenues and Earnings

Teradyne, Inc. (NYSE: TER) reported revenue of $526 million for the second quarter of 2014 of which $422 million was in Semiconductor Test, $69 million in Wireless Test and $35 million in System Test. On a non-GAAP basis, Teradyne’s net income in the second quarter was $116.4 million, or $0.54 per diluted share, which excluded acquired intangible asset amortization and discrete income tax adjustments. GAAP net income for the second quarter was $101.2 million or $0.47 per diluted share.

Bookings in the second quarter of 2014 were $627 million of which $535 million were in Semiconductor Test, $52 million in Wireless Test, and $40 million in System Test.

"Company and Semiconductor Test orders in the second quarter were the highest in over ten years," said CEO and President Mark Jagiela. "Semiconductor Test orders were driven by a combination of capacity expansion and new design wins with the strongest demand from applications processor, power management, microcontroller and memory test. Our strong sales and earnings growth reflect both the short time to market requirements of chip makers and our operating model's ability to flex to meet customer demand. After the strongest first half of orders since 2004, our third quarter outlook reflects the industry's normal seasonal patterns."

Guidance for the third quarter of 2014 is revenue of $440 million to $480 million, with diluted non-GAAP net income of $0.34 to $0.43 per share and diluted GAAP net income of $0.27 to $0.36 per share. Non-GAAP guidance includes stock based compensation, but excludes acquired intangible asset amortization and the related tax impact.

Webcast
A conference call to discuss the second quarter 2014 results, along with management's business outlook, will follow at 10 a.m. EDT, Thursday, July 24. The call will be broadcast simultaneously over the Internet. Interested investors should access the webcast at www.teradyne.com and click on "Investors" at least five minutes before the call begins. Presentation materials will be available at www.teradyne.com at 10 a.m. EDT.

A replay will be available approximately two hours after the completion of the call. The replay number in the U.S. & Canada is 855-859-2056. The replay number outside the U.S. & Canada is 404-537-3406. The pass code for both numbers is 72198850. A replay will also be available on the Teradyne website at www.teradyne.com. Click on "Investors" for a link to the replay. The replay will be available via phone and website through August 10, 2014.

Non-GAAP Results
In addition to disclosing results that are determined in accordance with GAAP, Teradyne also discloses non-GAAP results of operations that exclude certain income items and charges. These results are provided as a complement to results provided in accordance with GAAP. Non-GAAP income from operations and non-GAAP net income exclude acquired intangible asset amortization, retired CEO equity charge, non-cash convertible debt interest, discrete income tax adjustments, pension and post retirement actuarial gains and losses, restructuring and other, and a gain from the sale of an equity investment, and, prior to January 1, 2014, included income taxes on a cash basis [cash taxes reflects the usage of prior year favorable tax attributes (e.g. NOLs and credits) against current year tax liability]. GAAP requires that these items be included in determining income from operations and net income. Non-GAAP income from operations, non-GAAP net income, non-GAAP income from operations and non-GAAP net income as a percentage of revenue, and non-GAAP net income per share are non-GAAP measures presented to provide meaningful supplemental information regarding Teradyne's baseline performance before gains, losses or other charges that may not be indicative of Teradyne’s current core business or future outlook. These non-GAAP measures are used to make operational decisions, to determine employee compensation, to forecast future operational results, and for comparison with Teradyne’s business plan, historical operating results and the operating results of Teradyne’s competitors. Non-GAAP gross margin excludes pension and post retirement actuarial gains and losses. GAAP requires that this item be included in determining gross margin. Non-GAAP gross margin dollar amount and percentage are non-GAAP measures that management believes provide useful supplemental information for management and the investor. Management uses non-GAAP gross margin as a performance measure for Teradyne’s current core business and future outlook and for comparison with Teradyne’s business plan, historical gross margin results and the gross margin results of Teradyne’s competitors. Non-GAAP diluted shares include the impact of Teradyne’s call option on its shares. Management believes each of these non-GAAP measures provides useful supplemental information for investors, allowing greater transparency to the information used by management in its operational decision making and in the review of Teradyne’s financial and operational performance, as well as facilitating meaningful comparisons of Teradyne’s results in the current period compared with those in prior and future periods. A reconciliation of each available GAAP to non-GAAP financial measure discussed in this press release is contained in the attached exhibits and on the Teradyne website at www.teradyne.com by clicking on "Investors" and then selecting the "GAAP to Non-GAAP Reconciliation" link. The non-GAAP financial measures discussed in this press release may not be comparable to similarly titled measures used by other companies. The presentation of non-GAAP measures is not meant to be considered in isolation, as a substitute for, or superior to, financial measures or information provided in accordance with GAAP.

About Teradyne
Teradyne (NYSE:TER) is a leading supplier of Automatic Test Equipment used to test semiconductors, wireless products, data storage and complex electronic systems which serve consumer, communications, industrial and government customers. In 2013, Teradyne had sales of $1.43 billion and currently employs approximately 3,800 people worldwide. For more information, visit www.teradyne.com. Teradyne (R) is a registered trademark of Teradyne, Inc. in the U.S. and other countries.

Safe Harbor Statement
This release contains forward-looking statements regarding future business prospects, Teradyne’s results of operations, market conditions and the payment of a quarterly dividend. Such statements are based on the current assumptions and expectations of Teradyne’s management and are neither promises nor guarantees of future performance or future payment of dividends. You can identify these forward-looking statements based on the context of the statements and by the fact that they use words such as “will,” “anticipate,” “expect,” “project,” “intend,” “plan,” “believe,” “target” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. There can be no assurance that management’s estimates of Teradyne’s future results or other forward looking statements will be achieved or that dividends will be declared in the future. Important factors that could cause actual results or dividend payments to differ materially from those presently expected include: conditions affecting the markets in which Teradyne operates; decreased or delayed product demand; increased research and development spending; deterioration of Teradyne’s financial condition, the business judgment of the board of directors that a declaration of a dividend is not in the company’s best interests and other events, factors and risks disclosed in filings with the SEC, including, but not limited to, the “Risk Factors” section of Teradyne’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and Quarterly Report on Form 10-Q for the period ended March 30, 2014. The forward-looking statements provided by Teradyne in this press release represent management’s views as of the date of this release. Teradyne anticipates that subsequent events and developments may cause management's views to change. However, while Teradyne may elect to update these forward-looking statements at some point in the future, Teradyne specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Teradyne's views as of any date subsequent to the date of this release.

 
 
TERADYNE, INC. REPORT FOR SECOND FISCAL QUARTER OF 2014
                                   
CONDENSED CONSOLIDATED OPERATING STATEMENTS
(In thousands, except per share amounts)
                       
Quarter Ended Six Months Ended
June 29, 2014 March 30, 2014 June 30, 2013 June 29, 2014 June 30, 2013
 
Net revenues $ 525,567 $ 321,010 $ 428,889 $ 846,577 $ 709,256
 
Cost of revenues (1) (2)   235,154   153,963     187,656     389,117     314,606  
 
Gross profit 290,413 167,047 241,233 457,460 394,650
 
Operating expenses:
Engineering and development (1) 73,414 67,085 67,773 140,499 130,524
Selling and administrative (1) (3) 77,489 78,003 69,230 155,492 137,120
Acquired intangible asset amortization 18,271 18,271 18,063 36,542 36,099
Restructuring and other (4)   572   -     259     572     591  
Operating expenses 169,746 163,359 155,325 333,105 304,334
 
Income from operations 120,667 3,688 85,908 124,355 90,316
 
Interest and other (5)   725   (5,561 )   (5,551 )   (4,836 )   (11,385 )
 
Income (loss) before income taxes 121,392 (1,873 ) 80,357 119,519 78,931
Income tax provision (benefit)   20,187   (2,802 )   13,801     17,385     5,786  
Net income $ 101,205 $ 929   $ 66,556   $ 102,134   $ 73,145  
 

Net income per common share:

Basic $ 0.52 $ 0.00   $ 0.35   $ 0.53   $ 0.38  
Diluted $ 0.47 $ 0.00   $ 0.28   $ 0.45   $ 0.31  
 
Weighted average common shares - basic   194,408   193,311     190,569     193,860     190,128  
 
Weighted average common shares - diluted (6)   216,568   236,484     234,909     226,526     234,833  
 
 
Cash dividend declared per common share $ - $ 0.06   $ -   $ 0.06   $ -  
 
 
Net orders $ 627,088 $ 449,826   $ 473,815   $ 1,076,914   $ 873,897  
 

(1) In the first quarter of 2012, we changed our accounting method from delayed recognition of actuarial gains and losses for our defined benefit pension plans and other post retirement benefit plans to immediate recognition. We elected to immediately recognize net actuarial gains and losses and the change in the fair value of plan assets in our operating results in the year in which they occur. Below are the pension gains included in our operating results:

               
Quarter Ended Six Months Ended
June 29, 2014     March 30, 2014 June 30, 2013 June 29, 2014     June 30, 2013
Cost of revenues $ - $ - $ (335 ) $ - $ (335 )
Engineering and development - - (659 ) - (659 )
Selling and administrative   -     -     (365 )   -     (365 )
$ -   $ -   $ (1,359 ) $ -   $ (1,359 )
 
 

(2) Cost of revenues includes:

Quarter Ended Six Months Ended
June 29, 2014 March 30, 2014 June 30, 2013 June 29, 2014 June 30, 2013
Provision for excess and obsolete inventory $ 5,032 $ 10,039 $ 1,975 $ 15,071 $ 5,775
Sale of previously written down inventory   (2,014 )   (1,380 )   (3,058 )   (3,394 )   (4,841 )
$ 3,018   $ 8,659   $ (1,083 ) $ 11,677   $ 934  
 

(3) For the quarter ended March 30, 2014, selling and administrative expenses include an equity charge of $6,598 for the modification of Teradyne's retired CEO's outstanding equity awards to allow continued vesting and maintain the original term in connection with his January 31, 2014 retirement.

                       
(4) Restructuring and other consists of: Quarter Ended Six Months Ended
June 29, 2014 March 30, 2014 June 30, 2013 June 29, 2014 June 30, 2013
Employee severance $ 572 $ - $ 259 $ 572 $ 591
 
 
(5) Interest and other includes: Quarter Ended Six Months Ended
June 29, 2014 March 30, 2014 June 30, 2013 June 29, 2014 June 30, 2013
Non-cash convertible debt interest expense $ - $ 4,290 $ 3,884 $ 4,290 $ 7,638
 

(6) Under GAAP, when calculating diluted earnings per share, convertible debt must be assumed to have converted if the effect on EPS would be dilutive. Diluted shares assume the conversion of the convertible debt as the effect would be dilutive. Accordingly, for the quarters ended March 30, 2014 and June 30, 2013, and for the six months ended June 29, 2014 and June 30, 2013, 20.1 million, 23.3 million, 10.0 million and 23.3 million shares, respectively, have been included in diluted shares.

 
 
CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands)
           
June 29, 2014 December 31, 2013
 
Assets
Cash and cash equivalents $ 254,625 $ 341,638
Marketable securities 488,439 586,882
Accounts receivable 300,767 157,642
Inventories 126,874 137,939
Deferred tax assets 68,460 72,478
Prepayments 110,473 136,374
Other current assets   4,989   7,324
Total current assets 1,354,627 1,440,277
 
Net property, plant and equipment 308,521 275,236
Marketable securities 364,077 271,078
Deferred tax assets 5,810 5,217
Other assets 10,927 14,591
Retirement plans assets 9,134 9,342
Intangible assets 215,748 252,291
Goodwill   361,819   361,792
Total assets $ 2,630,663 $ 2,629,824
 
Liabilities
Accounts payable $ 102,214 $ 62,874
Accrued employees' compensation and withholdings 86,765 95,619
Deferred revenue and customer advances 63,968 55,404
Other accrued liabilities 93,103 63,712
Accrued income taxes 15,182 11,360
Current debt   -   186,663
Total current liabilities 361,232 475,632
 
Long-term deferred revenue and customer advances 18,992 13,756
Retirement plans liabilities 92,485 91,517
Deferred tax liabilities 39,616 40,686
Long-term other accrued liabilities   16,865   23,139
Total liabilities 529,190 644,730
 
Shareholders' equity 2,101,473 1,985,094
   
Total liabilities and shareholders' equity $ 2,630,663 $ 2,629,824
 
 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)
                         
Quarter Ended Six Months Ended
June 29, 2014 June 30, 2013 June 29, 2014 June 30, 2013
Cash flows from operating activities:
Net income $ 101,205 $ 66,556 $ 102,134 $ 73,145
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 18,526 13,437 33,785 27,552
Amortization 19,065 23,050 42,990 46,052
Stock-based compensation 8,297 9,054 23,530 18,077
Provision for excess and obsolete inventory 5,032 1,975 15,071 5,775
Deferred taxes (11,261 ) (9,047 ) 1,438 (15,230 )
Tax benefit related to stock options and restricted stock units (1,671 ) (1,584 ) (1,671 ) (1,584 )
Retirment plans actuarial gains - (1,359 ) - (1,359 )
Other 1,306 1,011 1,165 24
Changes in operating assets and liabilities:
Accounts receivable (84,243 ) (61,594 ) (143,125 ) (74,785 )
Inventories 15,834 30,413 18,469 26,373
Prepayments and other assets 27,874 (16,207 ) 27,246 (17,277 )
Accounts payable and accrued expenses 90,902 31,976 45,415 (15,428 )
Deferred revenue and customer advances 4,168 7,189 13,800 (2,811 )
Retirement plans contributions (963 ) (1,448 ) (2,388 ) (2,511 )
Accrued income taxes   15,104     12,049     5,495     2,964  
Net cash provided by operating activities 209,175 105,471 183,354 68,977
 
Cash flows from investing activities:
Purchases of property, plant and equipment (60,192 ) (28,251 ) (91,389 ) (50,798 )
Purchases of marketable securities (266,046 ) (333,556 ) (523,306 ) (458,070 )
Proceeds from maturities of marketable securities 97,114 148,994 377,436 268,546
Proceeds from sales of marketable securities 51,455 28,561 152,818 50,255
Proceeds from life insurance   -     -     4,391     -  
Net cash used for investing activities (177,669 ) (184,252 ) (80,050 ) (190,067 )
 
Cash flows from financing activities:
Issuance of common stock under stock option and stock purchase plans 478 717 10,643 9,638
Tax benefit related to stock options and restricted stock units 1,671 1,584 1,671 1,584
Dividend payments (11,656 ) - (11,656 ) -
Payments of long-term debt - (1,063 ) (190,975 ) (1,063 )
Payments of contingent consideration   -     (75 )   -     (388 )
Net cash (used for) provided by financing activities (9,507 ) 1,163 (190,317 ) 9,771
 
Increase (decrease) in cash and cash equivalents 21,999 (77,618 ) (87,013 ) (111,319 )
Cash and cash equivalents at beginning of period   232,626     305,219     341,638     338,920  
Cash and cash equivalents at end of period $ 254,625   $ 227,601   $ 254,625   $ 227,601  
 
 
GAAP to Non-GAAP Earnings Reconciliation
                                                       
(In millions, except per share amounts)
Quarter Ended
June 29, 2014       % of Net Revenues March 30, 2014     % of Net Revenues June 30, 2013     % of Net Revenues
 
Net revenues $ 525.6 $ 321.0 $ 428.9
 
Gross profit - GAAP $ 290.4 55.3 % $ 167.0 52.0 % $ 241.2 56.2 %
Pension mark-to-market adjustments (1)   -   -     -   -     (0.3 ) -0.1 %
Gross profit - non-GAAP $ 290.4 55.3 % $ 167.0 52.0 % $ 240.9 56.2 %
 
Income from operations - GAAP $ 120.7 23.0 % $ 3.7 1.2 % $ 85.9 20.0 %
Acquired intangible asset amortization 18.3 3.5 % 18.3 5.7 % 18.1 4.2 %
Equity modification charge (2) - - 6.6 2.1 % - -
Restructuring and other (3) 0.6 0.1 % - - 0.3 0.1 %
Pension mark-to-market adjustments (1)   -   -     -   -     (1.4 ) -0.3 %
Income from operations - non-GAAP $ 139.6   26.6 % $ 28.6   8.9 % $ 102.9   24.0 %
 
Net Income

per Common Share

Net Income

per Common Share

Net Income

per Common Share

June 29, 2014       % of Net Revenues     Basic     Diluted March 30, 2014     % of Net Revenues     Basic     Diluted June 30, 2013     % of Net Revenues     Basic     Diluted
Net income - GAAP $ 101.2 19.3 % $ 0.52 $ 0.47 $ 0.9 0.3 % $ 0.00 $ 0.00 $ 66.6 15.5 % $ 0.35 $ 0.28
Acquired intangible asset amortization 18.3 3.5 % 0.09 0.08 18.3 5.7 % 0.09 0.08 18.1 4.2 % 0.09 0.08
Income tax adjustment (4) - - - - - - - - 1.6 0.4 % 0.01 0.01
Interest and other (5) - - - - 4.3 1.3 % 0.02 0.02 3.9 0.9 % 0.02 0.02
Equity modification charge (2) - - - - 6.6 2.1 % 0.03 0.03 - - - -
Exclude discrete tax adjustments (6) (0.5 ) -0.1 % (0.00 ) (0.00 ) (2.4 ) -0.7 % (0.01 ) (0.01 ) - - - -
Tax effect of non-GAAP adjustments (3.2 ) -0.6 % (0.02 ) (0.01 ) (5.3 ) -1.6 % (0.03 ) (0.02 ) - - - -
Restructuring and other (3) 0.6 0.1 % 0.00 0.00 - - - - 0.3 0.1 % 0.00 0.00
Pension mark-to-market adjustments (1) - - - - - - - - (1.4 ) -0.3 % (0.01 ) (0.01 )
Convertible share adjustment (7)   -   -     -     -     -   -     -     0.01     -   -     -     0.05  
Net income - non-GAAP $ 116.4   22.1 % $ 0.60   $ 0.54   $ 22.4   7.0 % $ 0.12   $ 0.11   $ 89.1   20.8 % $ 0.47   $ 0.43  
 
GAAP and non-GAAP weighted average common shares - basic 194.4 193.3 190.6
GAAP weighted average common shares - diluted 216.6 236.5 234.9
Exclude dilutive shares from convertible note   -     (20.1 )   (23.3 )
Non-GAAP weighted average common shares - diluted (7)   216.6     216.4     211.6  
 
 
(1 ) Actuarial (gains) losses recognized under GAAP in accordance with the Company's mark-to-market pension accounting.
 
(2 ) For the quarter ended March 30, 2014, selling and administrative expenses include an equity charge for the modification of Teradyne's retired CEO's outstanding equity awards to allow continued vesting and maintain the original term in connection with his January 31, 2014 retirement.
 
(3 ) Restructuring and other consists of:
Quarter Ended
June 29, 2014 March 30, 2014 June 30, 2013
Employee severance $ 0.6 $ - $ 0.3
 
(4 ) For the quarter ended June 30, 2013, adjustment to record income taxes on a cash basis. Cash taxes reflects the usage of prior year favorable tax attributes (e.g. NOLs and credits) against current year tax liability
 
(5 ) For the quarters ended March 30, 2014 and June 30, 2013, Interest and other included non-cash convertible debt interest expense.
 
(6 ) For the quarters ended June 29, 2014 and March 30, 2014, adjustment to exclude discrete income tax items.
 
(7 ) For the quarters ended March 30, 2014 and June 30, 2013, the calculation of non-GAAP diluted earnings per share gives benefit to the Company's call option on its stock for 34.7 million shares at $5.48. As a result, 20.1 million and 23.3 million shares, respectively, have been excluded from non-GAAP diluted shares. For the quarters ended March 30, 2014 and June 30, 2013, net interest expense of $2.0 million has been added back to non-GAAP net income for the non-GAAP diluted earnings per share calculation.
 
 
 
Six Months Ended
June 29, 2014 % of Net Revenues June 30, 2013 % of Net Revenues
 
Net Revenues $ 846.6 $ 709.3
 
Gross profit - GAAP $ 457.5 54.0 % $ 394.7 55.6 %
Pension mark-to-market adjustments (1)   -   -     (0.3 ) 0.0 %
Gross profit - non-GAAP $ 457.5 54.0 % $ 394.4 55.6 %
 
Income from operations - GAAP $ 124.4 14.7 % $ 90.3 12.7 %
Acquired intangible asset amortization 36.5 4.3 % 36.1 5.1 %
Equity modification charge (2) 6.6 0.8 % - -
Restructuring and other (3) 0.6 0.1 % 0.6 0.1 %
Pension mark-to-market adjustments (1)   -   -     (1.4 ) -0.2 %
Income from operations - non-GAAP $ 168.1   19.9 % $ 125.6   17.7 %
 
Net Income

per Common Share

Net Income

per Common Share

June 29, 2014 % of Net Revenues Basic     Diluted June 30, 2013 % of Net Revenues Basic     Diluted
Net income - GAAP $ 102.1 12.1 % $ 0.53 $ 0.45 $ 73.1 10.3 % $ 0.38 $ 0.31
Acquired intangible asset amortization 36.5 4.3 % 0.19 0.16 36.1 5.1 % 0.19 0.15
Income tax adjustment (4) - - - - (8.8 ) -1.2 % (0.05 ) (0.04 )
Interest and other (5) 4.3 0.5 % 0.02 0.02 7.6 1.1 % 0.04 0.03
Equity modification charge (2) 6.6 0.8 % 0.03 0.03 - - - -
Exclude discrete tax adjustments (6) (2.9 ) -0.3 % (0.01 ) (0.01 ) - - - -
Tax effect of non-GAAP adjustments (8.5 ) -1.0 % (0.04 ) (0.04 ) - - - -
Restructuring and other (3) 0.6 0.1 % 0.00 0.00 0.6 0.1 % 0.00 0.00
Pension mark-to-market adjustments (1) - - - - (1.4 ) -0.2 % (0.01 ) (0.01 )
Convertible share adjustment (7)   -   -     -     0.04     -   -     -     0.09  
Net income - non-GAAP $ 138.7   16.4 % $ 0.72   $ 0.65   $ 107.2   15.1 % $ 0.56   $ 0.53  
 
GAAP and non-GAAP weighted average common shares - basic 193.9 190.1
GAAP weighted average common shares - diluted 226.5 234.8
Exclude dilutive shares from convertible note   (10.0 )   (23.3 )
Non-GAAP weighted average common shares - diluted (7)   216.5     211.5  
 
 
(1 ) Actuarial (gains) losses recognized under GAAP in accordance with the Company's mark-to-market pension accounting.
 
(2 ) For the six months ended June 29, 2014, selling and administrative expenses include an equity charge for the modification of Teradyne's retired CEO's outstanding equity awards to allow continued vesting and maintain the original term in connection with his January 31, 2014 retirement.
 
(3 ) Restructuring and other consists of:
Six Months Ended
June 29, 2014 June 30, 2013
Employee severance $ 0.6 $ 0.6
 
(4 ) For the six months ended June 30, 2013, adjustment to record income taxes on a cash basis. Cash taxes reflects the usage of prior year favorable tax attributes (e.g. NOLs and credits) against current year tax liability.
 
(5 ) For the six months ended June 29, 2014 and June 30, 2013, Interest and other included non-cash convertible debt interest expense.
 
(6 ) For the six months ended June 29, 2014, adjustment to exclude discrete income tax items.
 
(7 ) For the six months ended June 29, 2014 and June 30, 2013, the calculation of non-GAAP diluted earnings per share gives benefit to the Company's call option on its stock for 34.7 million shares at $5.48. As a result 10.0 million and 23.3 million shares, respectively, have been excluded from non-GAAP diluted shares. For the six months ended June 29, 2014 and June 30, 2013, net interest expense of approximately $2.0 million and $4.7 million, respectively, have been added back to non-GAAP net income for the non-GAAP diluted earnings per share calculation.

 
GAAP to Non-GAAP Reconciliation of Third Quarter 2014 guidance:
                 
GAAP and non-GAAP third quarter revenue guidance: $440 million to $480 million
GAAP net income per diluted share $ 0.27 $ 0.36
Exclude acquired intangible asset amortization 0.08 0.08
Tax effect of non-GAAP adjustment   (0.01 )   (0.01 )
Non-GAAP net income per diluted share $ 0.34 $ 0.43
 

For press releases and other information of interest to investors, please visit Teradyne's homepage at http://www.teradyne.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
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...
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...
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.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
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...
Peak 10, Inc., has announced the implementation of IT service management, a business process alignment initiative based on the widely adopted Information Technology Infrastructure Library (ITIL) framework. The implementation of IT service management enhances Peak 10’s current service-minded approach to IT delivery by propelling the company to deliver higher levels of personalized and prompt service. The majority of Peak 10’s operations employees have been trained and certified in the ITIL frame...
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...
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...