Welcome!

News Feed Item

IDT Reports Q1 Fiscal Year 2015 Financial Results

Integrated Device Technology, Inc. (IDT®) (NASDAQ: IDTI) today announced results for the fiscal first quarter ended June 29, 2014.

“We are off to a strong start in fiscal 2015 with our first fiscal quarter results demonstrating consistently improving financial performance across all key metrics,” said Greg Waters, president and chief executive officer. “Underpinning these results was strength and market share gains across all of our end markets; revenue from our Communications, Computing, and Consumer end markets all grew sequentially in the quarter. In our Communications end market, strength in the quarter was driven by our RapidIO solution, Timing products, and the continued ramp of our RF solutions, all of which are benefiting from the ongoing global buildout of 4G/LTE. In our Computing end market, we benefitted from the DDR3 to DDR4 transition underway in Memory Interface, where we have market-leading solutions designed in with all key customers. In our Consumer end market, our wireless power business is strong and growing. Our recently announced design win with LG is an industry milestone, where a major Smartphone supplier has embedded Wireless Charging in their flagship models. We remain in the center of this exciting and fast-developing market.”

“Looking ahead we are confident in our ability to continue executing on our growth strategy with all key areas of our business contributing to that growth,” concluded Mr. Waters.

Recent Business Highlights

  • IDT revealed that LG Electronics had built into its flagship G3 smartphone an IDT wireless power receiver. The two companies worked together closely to integrate the chip, which delivers a compact size and simplified application circuit.
  • IDT announced world’s smallest 2-watt wireless power, delivering leading technology in a compact package ideal for wearable applications.
  • IDT’s IDTP9021 wireless power receiver was recognized by China’s Electronic Engineering & Product World (EEPW) magazine with the best power management product award.
  • Focused on wireless communications systems, IDT introduced the F1650 Modulator, its latest RF signal path solution, delivering the industry’s lowest power consumption and highest linearity for today’s wireless products.
  • Building on its leadership in RapidIO, IDT announced its collaboration with eSilicon Corp. to expedite development of next-generation RapidIO® switches for new system architectures.
  • IDT expanded its leading PCIe timing portfolio with the release of the industry’s first 1.5 V PCI Express (PCIe®) timing buffers, enabling designers to reduce system complexity, physical size, and power consumption.
  • The Company won an EDN China Innovation Award for its Universal Frequency Translator, an ultra-high-performance programmable timing device that won an EE Times ACE Award three months earlier.
  • IDT announced that it has shipped over 1 million DDR4 registers, the result of growing demand for the next generation of DRAM modules, including RDIMMs and LRDIMMs.

The following highlights the Company’s financial performance on both a GAAP and supplemental non-GAAP basis. The Company is pursuing the divestiture of its high speed data converter business and is in active discussions with potential buyers. For financial statement purposes, the high speed data converter business is classified as assets held for sale and is treated as discontinued operations for all periods presented. IDT has excluded results from the high speed data converter business from current and historical non-GAAP results. The Company provides supplemental information regarding its operating performance on a non-GAAP basis that excludes certain gains, losses and charges which occur relatively infrequently and which management considers to be outside our core operating results. Non-GAAP results are not in accordance with GAAP and may not be comparable to non-GAAP information provided by other companies. Non-GAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. A complete reconciliation of GAAP to non-GAAP results from continuing operations is attached to this press release.

  • Revenue from continuing operations for the fiscal first quarter of 2015 was $126.3 million, compared with $118.6 million reported last quarter, and $117.5 million reported in the same period one year ago.
  • GAAP net income from continuing operations for the fiscal first quarter of 2015 was $17.1 million, or $0.11 per diluted share, versus GAAP net income from continuing operations of $5.1 million or $0.03 per diluted share last quarter, and a GAAP net income from continuing operations of $1.5 million or $0.01 per share in the same period one year ago. Fiscal first quarter 2015 GAAP results include a $2.6 million loss relating to amortization of intangible assets and other acquisition/divestiture related charges, $5.0 million in stock-based compensation expense, $2.9 million in accelerated depreciation, impairments and other restructuring related charges, and $0.9 million in related tax effects.
  • Non-GAAP net income for the fiscal first quarter of 2015 was $26.7 million or $0.17 per diluted share, compared with non-GAAP net income of $21.7 million or $0.14 per diluted share last quarter, and non-GAAP net income of $10.6 million or $0.07 per diluted share reported in the same period one year ago.
  • GAAP gross profit from continuing operations for the fiscal first quarter of 2015 was $74.0 million, or 58.6 percent, compared with GAAP gross profit of $61.1 million or 51.5 percent last quarter, and $66.1 million, or 56.3 percent, reported in the same period one year ago. Non-GAAP gross profit for the fiscal first quarter of 2015 was $78.1 million, or 61.9 percent, compared with non-GAAP gross profit of $72.4 million, or 61.1 percent last quarter, and $68.8 million, or 58.6 percent, reported in the same period one year ago.
  • GAAP R&D expense for the fiscal first quarter of 2015 was $32.1 million, compared with GAAP R&D expense of $32.9 million last quarter, and $37.9 million reported in the same period one year ago. Non-GAAP R&D expense for the fiscal first quarter of 2015 was $28.7 million, compared with non-GAAP R&D of $28.6 million last quarter, and $34.6 million in the same period one year ago.
  • GAAP SG&A expense for the fiscal first quarter of 2015 was $25.5 million, compared with GAAP SG&A expense of $ 23.3 million last quarter, and $26.8 million in the same period one year ago. Non-GAAP SG&A expense for the fiscal first quarter of 2015 was $22.1 million, compared with non-GAAP SG&A expense of $21.0 million last quarter, and $23.2 million in the same period one year ago.

Webcast and Conference Call Information

Investors may listen to a live or replay webcast of the Company’s quarterly financial conference call at http://ir.idt.com/. The live webcast will begin at 1:30 p.m. Pacific time on July 28, 2014. The webcast replay will be available after 5 p.m. Pacific time on July 28, 2014.

Investors may also listen to the live call at 1:30 p.m. Pacific time on July 28, 2014 by calling (888) 461-2024 or (719) 457-2645. The access code is 9736805. The conference call replay will be available for one week after the event at (888) 203-1112 or (719) 457-0820. The access code is 9736805.

About IDT

Integrated Device Technology, Inc. develops system-level solutions that optimize its customers’ applications. IDT uses its market leadership in timing, serial switching and interfaces, and adds analog and system expertise to provide complete application-optimized, mixed-signal solutions for the communications, computing and consumer segments. Headquartered in San Jose, Calif., IDT has design, manufacturing, sales facilities and distribution partners throughout the world. IDT stock is traded on the NASDAQ Global Select Stock Market® under the symbol “IDTI.” Additional information about IDT is accessible at www.IDT.com. Follow IDT on Facebook, LinkedIn, Twitter, and YouTube.

Forward Looking Statements

Investors are cautioned that forward-looking statements in this release, including but not limited to statements regarding demand for Company products, anticipated trends in Company sales, expenses and profits, involve a number of risks and uncertainties that could cause actual results to differ materially from current expectations. Risks include, but are not limited to, global business and economic conditions, fluctuations in product demand, manufacturing capacity and costs, inventory management, competition, pricing, patent and other intellectual property rights of third parties, timely development and introduction of new products and manufacturing processes, dependence on one or more customers for a significant portion of sales, successful integration of acquired businesses and technology, availability of capital, cash flow and other risk factors detailed in the Company’s Securities and Exchange Commission filings. The Company urges investors to review in detail the risks and uncertainties in the Company’s Securities and Exchange Commission filings, including but not limited to the Annual Report on Form 10-K for the fiscal year ended March 30, 2014. All forward-looking statements are made as of the date of this release and the Company disclaims any duty to update such statements.

Non-GAAP Reporting

To supplement its consolidated financial results presented in accordance with GAAP, IDT uses non-GAAP financial measures which are adjusted from the most directly comparable GAAP financial measures to exclude certain items, as described in detail below. Management believes that these non-GAAP financial measures reflect an additional and useful way of viewing aspects of the Company’s operations that, when viewed in conjunction with IDT’s GAAP results, provide a more comprehensive understanding of the various factors and trends affecting the Company’s business and operations. It should also be noted that IDT's non-GAAP information may be different from the non-GAAP information provided by other companies. Non-GAAP financial measures used by IDT include:

• Cost of revenues;

• Gross profit;

• Research and development expenses;

• Selling, general and administrative expenses;

• Interest income and other;

• Provision (benefit) for income taxes, continuing operations

• Operating income;

• Net income from continuing operations;

• Diluted net income per share, continuing operations; and

• Weighted average shares outstanding - diluted

The Company presents non-GAAP financial measures because the investor community uses non-GAAP results in its analysis and comparison of historical results and projections of the Company's future operating results. These non-GAAP results exclude acquisition related expense, restructuring and divestiture related costs (gain), share-based compensation expense, results from discontinued operations, stockholder expenses and certain other expenses and benefits. Management uses these non-GAAP measures to manage and assess the profitability of the business. These non-GAAP results are also consistent with the way management internally analyzes IDT's financial results.

There are limitations in using non-GAAP financial measures because they are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP financial measures. The non-GAAP financial measures supplement, and should be viewed in conjunction with, GAAP financial measures. Investors should review the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the accompanying press release.

As presented in the “Reconciliation of GAAP to Non-GAAP” tables in the accompanying press release, each of the non-GAAP financial measures excludes one or more of the following items:

Acquisition related. Acquisition-related charges are not factored into management’s evaluation of potential acquisitions or IDT’s performance after completion of acquisitions, because they are not related to the Company’s core operating performance. Adjustments of these items provide investors with a basis to compare IDT’s performance to other companies without the variability caused by purchase accounting. Acquisition-related expenses primarily include:

  • Amortization of acquisition related intangibles, which include acquired intangibles such as purchased technology, patents, customer relationships, trademarks, backlog and non-compete agreements.
  • Acquisition related costs such as legal, accounting and other professional or consulting fees directly related to an acquisition.
  • Fair market value adjustment to acquired inventory sold.

Restructuring related. Restructuring charges primarily relate to changes in IDT’s infrastructure in efforts to reduce costs and expenses (gains) associated with strategic divestitures and restructuring in force actions. Restructuring charges (gains) are excluded from non-GAAP financial measures because they are not considered core operating activities. Although IDT has engaged in various restructuring activities in the past, each has been a discrete event based on a unique set of business objectives. As such, management believes that it is appropriate to exclude restructuring charges (gains) from IDT’s non-GAAP financial measures as it enhances the ability of investors to compare the Company’s period-over-period operating results from continuing operations. Restructuring-related charges (gains) primarily include:

  • Severance and retention costs directly related to a restructuring action.
  • Facility closure costs consist of ongoing costs associated with the exit of our leased and owned facilities.
  • Gain on divestiture consists of gains recognized upon the strategic sale of business units.
  • Assets impairments including accelerated depreciation of certain assets no longer in use and impairment charge related to a note receivable and subsequent recoveries.

Other adjustments. These items are excluded from non-GAAP financial measures because they are not related to the core operating activities and on-going future operating performance of IDT. Excluding this data allows investors to better compare IDT’s period-over-period performance without such expense, which IDT believes may be useful to the investor community. Other adjustments primarily include:

  • Stock based compensation expense.
  • Compensation expense (benefit) – deferred compensation, consists of gains and losses on marketable equity securities related to our deferred compensation arrangements.
  • Loss (gain) on deferred compensation plan securities represents the changes in the fair value of the assets in a separate trust that is invested in corporate owned life insurance under our deferred compensation plan.
  • Life insurance proceeds received, represents proceeds received under corporate owned life insurance under our deferred compensation plan.
  • Tax effects of non-GAAP adjustments. Effective first quarter of fiscal 2015 the Company used a projected long-term non-GAAP tax rate of 4%. When projecting this long-term rate, the Company evaluated its current long-term projections, current tax structure and other factors such as the Company’s existing tax positions in various jurisdictions and key legislations in major jurisdictions where the company operates. The Company intends to re-evaluate this long-term rate only on an annual basis. This long-term non-GAAP tax rate eliminates the effects of non-recurring and period specific items which can vary in size and frequency, and will provide better consistency within the interim reporting periods. This long-term rate could be subject to change for a variety of reasons, for example, significant structural changes in the geographic earnings mix including acquisition activity, or fundamental tax law changes in major jurisdictions where the Company operates.
  • Diluted weighted average shares non-GAAP adjustment, for purposes of calculating non-GAAP diluted net income per share, the GAAP diluted weighted average shares outstanding is adjusted to exclude the benefits of stock compensation expense attributable to future services not yet recognized in the financial statements that are treated as proceeds assumed to be used to repurchase shares under the GAAP treasury method.

IDT and the IDT logo are trademarks or registered trademarks of Integrated Device Technology, Inc. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

                       
 
INTEGRATED DEVICE TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share data)
Three Months Ended
June 29, Mar. 30, June 30,
  2014     2014     2013  
Revenues $ 126,302 $ 118,640 $ 117,464
Cost of revenues   52,293     57,560     51,342  
Gross profit 74,009 61,080 66,122
Operating expenses:
Research and development 32,050 32,860 37,939
Selling, general and administrative   25,459     23,322     26,838  
Total operating expenses   57,509     56,182     64,777  
 
Operating income   16,500     4,898     1,345  
 
Loss from divestiture - (302 ) -
Other income, net   862     786     57  
Income from continuing operations before income taxes 17,362 5,382 1,402
Provision for (benefit from) income taxes   251     320     (99 )
 
Net income from continuing operations 17,111 5,062 1,501
 
Discontinued operations:
Gain from divestiture 16,840 - -
Loss from discontinued operations (12,153 ) (5,016 ) (3,864 )
Provision for (benefit from) for income taxes   (45 )   17     (99 )
Net income (loss) from discontinued operations 4,732 (5,033 ) (3,765 )
 
Net income (loss) $ 21,843   $ 29   $ (2,264 )
 
Basic net income per share - continuing operations $ 0.11 $ 0.03 $ 0.01
Basic net income (loss) per share - discontinued operations   0.04     (0.03 )   (0.03 )
Basic net income (loss) per share $ 0.15   $ -   $ (0.02 )
 
Diluted net income per share - continuing operations $ 0.11 $ 0.03 $ 0.01
Diluted net income (loss) per share - discontinued operations   0.03     (0.03 )   (0.03 )
Diluted net income (loss) per share $ 0.14   $ -   $ (0.02 )
 
Weighted average shares:
Basic   149,283     150,033     147,056  
Diluted   153,741     154,390     150,241  
                   
 
INTEGRATED DEVICE TECHNOLOGY, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (a)
(Unaudited)
(In thousands, except per share data)
Three Months Ended
June 29, Mar. 30, June 30,
  2014     2014     2013  
 

GAAP net income from continuing operations

$ 17,111  

 

    $ 5,062       $ 1,501  
GAAP diluted net income per share continuing operations $ 0.11  

 

    $ 0.03       $ 0.01  
Acquisition related:
Amortization of acquisition related intangibles 2,549

 

11,999 3,321
Impairment of in-process research and development - 2,433 -
Acquisition related legal and consulting fees -

 

73 468
Restructuring related:
Severance and retention costs 526

 

383 1,174
Facility closure costs 47

 

107 8
Loss on divestiture -

 

302 -
Assets impairment and other 2,302

 

334 (36 )
Other:
Stock-based compensation expense 4,962

 

2,368 4,820
Compensation expense (benefit) - deferred compensation plan 494

 

185 (100 )
(Gain) loss on deferred compensation plan securities (480 )

 

(171 ) 101
Tax effects of Non-GAAP adjustments   (859 )

 

      (1,331 )       (662 )
Non-GAAP net income from continuing operations $ 26,652

 

$ 21,744 $ 10,595
GAAP weighted average shares - diluted 153,741

 

154,390 150,241
Non-GAAP adjustment   1,867  

 

      1,492         2,699  
Non-GAAP weighted average shares - diluted   155,608  

 

      155,882         152,940  
Non-GAAP diluted net income per share continuing operations $ 0.17  

 

    $ 0.14       $ 0.07  
 
GAAP gross profit   74,009  

 

      61,080         66,122  
Acquisition and divestiture related:
Amortization of acquisition related intangibles 1,686

 

11,016 2,435
 
Restructuring related:
Severance and retention costs 23

 

117 1
Facility closure costs -

 

- 2
Assets impairment and other 1,935

 

105 (36 )
Other:
Compensation expense (benefit) - deferred compensation plan 147

 

55 (31 )
Stock-based compensation expense   319  

 

      61         333  
Non-GAAP gross profit   78,119  

 

      72,434         68,826  
 
GAAP R&D expenses:   32,050  

 

      32,860         37,939  
Restructuring related:
Impairment of acquired in-process R&D - (2,433 ) -
Severance and retention costs (240 )

 

(264 ) (1,092 )
Facility closure costs -

 

- (2 )
Assets impairment and other (367 ) (63 ) -
Other:
Compensation expense (benefit) - deferred compensation plan (240 )

 

(90 ) 52
Stock-based compensation expense   (2,521 )

 

      (1,389 )       (2,315 )
Non-GAAP R&D expenses   28,682  

 

      28,621         34,582  
 
GAAP SG&A expenses:   25,459  

 

      23,322         26,838  
Acquisition and divestiture related:
Amortization of acquisition related intangibles (863 )

 

(983 ) (886 )
Acquisition related legal and consulting fees -

 

(73 ) (468 )
Restructuring related:
Severance and retention costs (263 )

 

(2 ) (81 )
Facility closure costs (47 )

 

(107 ) (4 )
Assets impairment and other -

 

(166 ) -
Other:
Compensation expense (benefit) - deferred compensation plan (107 )

 

(40 ) 17
Stock-based compensation expense   (2,122 )

 

      (918 )       (2,172 )
Non-GAAP SG&A expenses   22,057  

 

      21,033         23,244  
 
GAAP interest income and other, net 862

 

786 57
(Gain) loss on deferred compensation plan securities   (480 )

 

      (171 )       101  
Non-GAAP interest income and other, net   382  

 

      615         158  
 
GAAP provision from (benefit from) income taxes - continuing operations 251

 

320 (99 )
Tax effects of Non-GAAP adjustments   859  

 

      1,331         662  
Non-GAAP provision for income taxes continuing operations   1,110  

 

      1,651         563  
 
(a) Refer to the accompanying “Notes to Non-GAAP Financial Measures” for a detailed discussion of management’s use of non-GAAP financial measures.
               
 
INTEGRATED DEVICE TECHNOLOGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
 
June 29, March 30,
(In thousands)   2014   2014
 
ASSETS
Current assets:
Cash and cash equivalents $ 104,384 $ 91,211
Short-term investments 359,819 362,604
Accounts receivable, net 72,058 68,904
Inventories 45,749 49,622
Prepaid and other current assets   10,547   13,034
Total current assets 592,557 585,375
 
Property, plant and equipment, net 65,941 69,827
Goodwill 135,644 135,644
Acquisition-related intangibles 9,558 18,741
Other assets   24,078   21,373
TOTAL ASSETS $ 827,778 $ 830,960
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 23,230 $ 25,442
Accrued compensation and related expenses 23,252 24,343
Deferred income on shipments to distributors 14,126 14,006
Deferred taxes liabilities 1,393 1,346
Other accrued liabilities   7,745   11,525
Total current liabilities 69,746 76,662
 
Deferred tax liabilities 1,494 1,494
Long term income taxes payable 270 266
Other long term obligations   19,254   18,683
Total liabilities 90,764 97,105
 
Stockholders' equity   737,014   733,855
 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 827,778 $ 830,960

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
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
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 & ...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...