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Affinia Reports Financial Results For The Second Quarter 2014

Record second quarter sales for the Filtration segment of $251 million

GASTONIA, N.C., Aug. 7, 2014 /PRNewswire/ -- Affinia Group Intermediate Holdings Inc. ("Affinia"), an innovative global leader in the design, manufacture, distribution and marketing of industrial grade products and services, today reported net sales of $365 million for the second quarter of 2014 compared to $346 million in the second quarter of 2013, an increase of $19 million or 5.5 percent.  Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") improved to $52 million in the second quarter of 2014 compared to $47 million in the same period in the prior year, an increase of 10.6 percent.

Affinia Group, Inc. - logo.

Keith Wilson, president and chief executive officer of Affinia, commented, "We are extremely pleased to report strong second quarter sales growth compared to the prior year.  On a currency adjusted basis, both our Filtration and Affinia South America segments achieved double digit year over year sales growth.  Overall, the trends in our industry are very positive, with our customer base performing well and continuously improving economic factors that support future growth in the markets we serve.  The ongoing success of our business is driven by the dedication of our global team, and we remain committed to delivering superior quality and innovation, while driving value for our customers in the markets we serve."

Filtration segment net sales were $251 million, which is a record for the second quarter, resulting in a 9.6 percent improvement over the second quarter of 2013.  Adjusted EBITDA for the Filtration segment was $48 million in the second quarter of 2014, an increase of $7 million or 17.1 percent compared to the corresponding period in the prior year.  Affinia South America net sales were $114 million, which is $3 million or 2.6 percent lower than the second quarter of 2013.  On a currency adjusted basis, Affinia South America net sales were $130 million, a $13 million or 11.1 percent increase over the second quarter of 2013.  

Improved results in the second quarter of 2014 compared to the same period in the prior year were largely driven by the Filtration segment, which generated record second quarter net sales and Adjusted EBITDA.  While net sales were lower than the prior year in the Affinia South America segment due to unfavorable currency impacts, Adjusted EBITDA improved in the second quarter of 2014 compared to the same period in the prior year. 

"Our focus on cost savings initiatives resulted in strong adjusted EBITDA growth in the second quarter of 2014," stated Steven Klueg, Affinia senior vice president and chief financial officer.  Cash from operations coupled with the proceeds from the sale of our Chassis business have reduced our debt levels and improved our leverage ratios.  As we move into the second half of 2014, we have ample liquidity to execute our strategic plan and remain focused on further strengthening our balance sheet."

Net Sales

Net sales were $365 million for the second quarter of 2014 compared with $346 million for the same period last year. On a currency adjusted basis, net sales for the second quarter of 2014 improved by 13.3 percent or $46 million over the same period in 2013. The Filtration segment achieved record second quarter net sales of $251 million in 2014, a 9.6 percent increase over the prior year, driven by higher volumes, introduction of new products and higher pricing in the North America and European operations.  Net sales in the Affinia South America segment were $114 million in the second quarter of 2014, a 2.6 percent decrease compared to the same period in the prior year, due to the decline in value of the Brazilian Real and Argentine Peso.  On a currency adjusted basis, net sales for the second quarter of 2014 improved by 11.1 percent over the same period in 2013 as a result of increases in our Brazilian and Argentine distribution companies.

Operating Profit

Operating profit for the second quarter of 2014 was $43 million, a $2 million increase over the prior year.  Operating profit in the Filtration segment was $44 million in the second quarter of 2014, a $4 million increase over the prior year, primarily due to higher gross profit in both North America and Europe as a result of higher sales and execution of cost savings initiatives.  Operating profit in the Affinia South America segment was $9 million in both the second quarter of 2014 and 2013 due largely to unfavorable currency impacts in 2014. On a currency adjusted basis, operating profit in the Affinia South America segment was up 26.2 percent in the second quarter of 2014 compared to the prior year largely due to price increases and higher volumes. 

Adjusted EBITDA

Adjusted EBITDA was $52 million in the second quarter of 2014, a $5 million increase over the corresponding period in the prior year, with Adjusted EBITDA margin improving to 14.2% in the second quarter of 2014 from 13.6 percent in the second quarter of 2013.  Adjusted EBITDA for the Filtration segment was $48 million in the second quarter of 2014, a $7 million improvement over the same period in the prior year, while Adjusted EBITDA for the Affinia South America segment was $11 million in second quarter of 2014, a $1 million increase over the same period in the prior year.

Net Income (Loss)

Net income was $35 million in the second quarter of 2014 compared to a net loss of $1 million in the second quarter of 2013.  Higher net income was driven by the gain on the sale of the Chassis group in the second quarter of 2014, improved sales and operating profit in the second quarter of 2014 and expenses incurred in the second quarter of 2013 associated with a debt refinancing.

Balance Sheet

Affinia ended the second quarter of 2014 with $104 million of cash on hand and a total debt balance of $850 million.  Net debt as of June 30, 2014 declined to 4.6 times the trailing twelve months Adjusted EBITDA from 5.2 times trailing twelve months Adjusted EBITDA as of December 31, 2013.  During the second quarter, Affinia paid down $78 million of outstanding Term Loans and made a distribution to shareholders of $45 million to further reduce the seller financing note.

Non-GAAP Financial Information

In addition to the results reported in accordance with accounting principles generally accepted in the United States of America (GAAP) included within this press release, Affinia has provided certain information which is considered non-GAAP financial measures. Such information is reconciled to its closest GAAP measure in accordance with Securities and Exchange Commission rules and is included in the attached supplemental data.

EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA are non-GAAP financial measures.  EBITDA is earnings before interest, taxes, depreciation and amortization.  Affinia's EBITDA is calculated by adding back depreciation and amortization and interest expense to income from continuing operations before income tax provision.   Adjusted EBITDA and Adjusted Segment EBITDA are defined as EBITDA adjusted for certain items that management believes hinder comparison of the performance of Affinia's business either period-over-period or with other businesses.  Items are excluded from Adjusted EBITDA and Adjusted Segment EBITDA because they are individually or collectively material items and management does not consider them to be representative of the performance of the business during the periods presented.  Management believes that these non-GAAP financial measures are useful to both management and the Company's stakeholders in their analysis of the Company's business and operating performance. Management also uses this information for operational planning and decision-making purposes.

Currency adjusted net sales excludes the impact of currency on current period results by applying the same exchange rates to net sales in both periods.  To calculate currency adjusted net sales, the exchange rates used in the prior year are applied to the current year results.  By excluding the impacts of currency, management believes the comparability of financial results between reporting periods is enhanced. 

Net debt represents total debt outstanding less cash on hand at period end.  

Non-GAAP financial measures are not and should not be considered a substitute for any GAAP measure. Additionally, non-GAAP financial measures as presented by Affinia may not be comparable to similarly titled measures reported by other companies.

In accordance with Securities and Exchange Commission rules, each of Segment EBITDA, Adjusted Segment EBITDA and Adjusted EBITDA are reconciled to their closest GAAP measure, which is income from continuing operations before income tax provision and noncontrolling interest and is included in the attached supplemental data.  Currency adjusted net sales are reconciled to their most closely correlated GAAP measure, which is net sales.

 

 


Affinia Group Intermediate Holdings Inc.
Condensed Consolidated Statements of Operations (Unaudited)









Three Months Ended
June 30,


Six Months Ended
June 30,





(Dollars in millions)

 

2014

 


2013

 


2014

 


2013

 

Net sales               

$           365


$           346


$       696


$       672

Cost of sales        

(271)


(261)


(526)


(515)









Gross profit          

94


85


170


157

Selling, general and administrative expenses

(51)


(44)


(102)


(86)









Operating profit  

43


41


68


71

Loss on extinguishment of debt      


(15)



(15)

Other income and expense, net       

(2)


(1)


(10)


(2)

Interest expense  

(15)


(28)


(30)


(43)









Income (loss) from continuing operations before income tax provision and noncontrolling interest

26


(3)


28


11

Income tax provision        

(12 )



(16)


(6)









Net income (loss) from continuing operations              

14


(3)


12


5

Income from discontinued operations, net of tax       

21


2


22










Net income (loss)

35


(1)


34


5

Less: net income attributable to noncontrolling interest, net of tax












Net income (loss) attributable to the Company           

$              35


$              (1)


$         34


$            5









 

 

Affinia Group Intermediate Holdings Inc.
Condensed Consolidated Balance Sheets (Unaudited)







(Dollars in millions)


June 30,
2014

 


December 31,
2013

 

Assets





Current assets:





Cash and cash equivalents


$            104


$                 101

Trade accounts receivable, less allowances of $5 million at June 30, 2014 and $2 million at December 31, 2013


152


141

Inventories, net


244


221

Current deferred taxes


32


39

Prepaid taxes


29


29

Other current assets


23


32

Current assets of discontinued operations



141






Total current assets


584


704

Property, plant, and equipment, net


124


123

Goodwill


3


3

Other intangible assets, net


57


60

Deferred financing costs


16


18

Deferred income taxes


100


80

Investments and other assets


20


21






Total assets


$            904


$              1,009






Liabilities and shareholder's equity (deficit)





Current liabilities:





Accounts payable


$            150


$                 121

Notes payable


14


23

Current maturities of long-term debt



7

Other accrued expenses


76


78

Accrued payroll and employee benefits


20


19

Current liabilities of discontinued operations



31






Total current liabilities


260


279

Long-term debt


836


907

Deferred employee benefits and other noncurrent liabilities


20


24






Total liabilities


1,116


1,210






Contingencies and commitments





Shareholder's equity:





Common stock, $.01 par value, 1,000 shares authorized, issued and outstanding



Additional paid-in capital


454


456

Accumulated deficit


(649)


(638)

Accumulated other comprehensive loss


(18)


(20)






Total shareholder's deficit of the Company


(213)


(202)

Noncontrolling interest in consolidated subsidiaries


1


1






Total shareholder's deficit


(212)


(201)






Total liabilities and shareholder's equity (deficit)


$            904


$              1,009






 

 

Affinia Group Intermediate Holdings Inc.
Condensed Consolidated Statements of Cash Flows (Unaudited)







Six Months Ended
June 30,



(Dollars in millions)

2014


2013

Operating activities




Net income

$          34


$            5

Adjustments to reconcile net income to net cash provided by operating activities:




Depreciation and amortization

10


12

Currency devaluation

7


2

Gain on the sale of Chassis group

(21)


Stock-based compensation


1

Loss on extinguishment of debt


15

Write-off of unamortized deferred financing costs

1


8

Write-off of original issue discount on Subordinated Notes


1

Provision for deferred income taxes

(21)


13

Change in trade accounts receivable

(29)


(37)

Change in inventories

(21)


(1)

Change in other current operating assets

19


(34)

Change in other current operating liabilities

33


33

Change in other

(6)


8





Net cash provided by operating activities

6


26

Investing activities




Proceeds from the sale of Chassis group

140


Proceeds from the sale of an equity method investment

4


Additions to property, plant and equipment

(11)


(10)





Net cash provided by (used in) investing activities

133


(10)

Financing activities




Payment of deferred financing costs


(15)

Repayments of debt

(9)


Repayments of Secured Notes


(195)

Repayments of Subordinated Notes


(367)

Repayment of Term Loans

(78)


Proceeds from Senior Notes


250

Proceeds from Term Loans


667

Distribution to our shareholders

(45)


(351)





Net cash used in financing activities

(132)


(11)

Effect of exchange rates on cash

(4)


(1)

Increase in cash and cash equivalents

3


4

Cash and cash equivalents at beginning of the period

101


51





Cash and cash equivalents at end of the period

$        104


$          55





 

 

Affinia Group Intermediate Holdings Inc.
Segment Information

 

 

The following tables provide the components of operating profit and Adjusted EBITDA by segment, as well as for corporate,
eliminations and other, and Affinia Group Intermediate Holdings Inc. on a consolidated basis:

 


(Dollars in millions)







Three Months Ended




June 30, 2014


June 30, 2013


Filtration


Affinia South America


Corporate/ Elims/Other


Consolidated


Filtration


Affinia South America


Corporate/ Elims/Other


Consolidated

Net sales

$             251


$             114


$                   -


$                   365


$             229


$             117


$                   -


$                 346

Cost of sales

(181)


(90)


-


(271)


(167)


(92)


(2)


(261)

Gross profit

70


24


-


94


62


25


(2)


85

Selling, general and administrative expenses

(26)


(15)


(10)


(51)


(22)


(16)


(6)


(44)

Operating Profit

44


9


(10)


43


40


9


(8)


41

     Operating Profit %

17.5%


7.9%


-


11.8%


17.5%


7.7%


-


11.8%

Other income and expense, net

(2)


-


-


(2)


(3)


-


(13)


(16)

Depreciation and amortization

4


1


-


5


4


1


-


5

Loss on extinguishment of debt

-


-


-


-


-


-


15


15

Bad debt expense

2


-


-


2


-


-


-


-

Restructuring and other

-


1


3


4


-


-


2


2

Adjusted EBITDA

$              48


$              11


$                (7)


$                    52


$              41


$              10


$                (4)


$                  47

     Adjusted EBITDA % to net sales

19.1%


9.6%


-


14.2%


17.9%


8.5%


-


13.6%


































Six Months Ended




June 30, 2014


June 30, 2013


Filtration


Affinia South America


Corporate/ Elims/Other


Consolidated


Filtration


Affinia South America


Corporate/ Elims/Other


Consolidated

Net sales

$             484


$             212


$                   -


$                   696


$             444


$             228


$                   -


$                 672

Cost of sales

(358)


(168)


-


(526)


(330)


(183)


(2)


(515)

Gross profit

126


44


-


170


114


45


(2)


157

Selling, general and administrative expenses

(52)


(27)


(23)


(102)


(45)


(29)


(12)


(86)

Operating Profit

74


17


(23)


68


69


16


(14)


71

     Operating Profit %

15.3%


8.0%


-


9.8%


15.5%


7.0%


-


10.6%

Other income and expense, net

(8)


(3)


1


(10)


(4)


-


(13)


(17)

Depreciation and amortization

8


2


-


10


8


2


1


11

Loss on extinguishment of debt

-


-


-


-


-


-


15


15

Currency devaluation

5


2


-


7


2


-


-


2

Bad debt expense

2


-


-


2


-


-


-


-

Restructuring and other

-


1


9


10


-


-


2


2

Adjusted EBITDA

$              81


$              19


$              (13)


$                    87


$              75


$              18


$                (9)


$                  84

     Adjusted EBITDA % to net sales

16.7%


9.0%


-


12.5%


16.9%


7.9%


-


12.5%

 

 

Affinia Group Intermediate Holdings Inc.
Reconciliation of Non-GAAP Measures

 

The supplemental data presented below is a reconciliation of certain financial measures which are intended to facilitate analysis of Affinia Group Intermediate Holdings Inc.'s business and operating performance.

 

Reconciliation of Adjusted EBITDA and Currency Adjusted Net Sales

(Dollars in millions)






                               Three Months Ended




June 30, 2014


June 30, 2013


Filtration


Affinia South America


Corporate/ Elims/Other


Affinia Group Intermediate Holdings Inc.


Filtration


Affinia South America


Corporate/ Elims/Other


Affinia Group Intermediate Holdings Inc.

Income from continuing operations
before income tax provision and noncontrolling interest

$               42


$                 9


$               (25)


$                     26


$               36


$                 9


$              (48)


$                    (3)

Add back:
















Depreciation and amortization

4


1


-


5


4


1


-


5

Interest expense

-


-


15


15


1


-


27


28

EBITDA

46


10


(10)


46


41


10


(21)


30

Loss on extinguishment of debt

-


-


-


-


-


-


15


15

Bad debt expense

2


-


-


2


-


-


-


-

Restructuring and other

-


1


3


4


-


-


2


2

Adjusted EBITDA

$               48


$               11


$                 (7)


$                     52


$               41


$               10


$                (4)


$                   47


































Six Months Ended


June 30, 2014


June 30, 2013


Filtration


Affinia South America


Corporate/ Elims/Other


Affinia Group Intermediate Holdings Inc.


Filtration


Affinia South America


Corporate/ Elims/Other


Affinia Group Intermediate Holdings Inc.

















Income from continuing operations before income tax provision and noncontrolling interest

$               66


$               14


$               (52)


$                     28


$               64


$               16


$              (69)


$                   11

Depreciation and amortization

8


2


-


10


8


2


1


11

Interest expense

-


-


30


30


1


-


42


43

EBITDA

74


16


(22)


68


73


18


(26)


65

Loss on extinguishment of debt

-


-


-


-


-


-


15


15

Currency devaluation

5


2


-


7


2


-


-


2

Bad debt expense

2


-


-


2


-


-


-


-

Restructuring and other

-


1


9


10


-


-


2


2

Adjusted EBITDA

$               81


$               19


$               (13)


$                     87


$               75


$               18


$                (9)


$                   84


































Three Months Ended


Six Months Ended


June 30,


June 30,


2014


2013


Variance


% Change


2014


2013


Variance


% Change

Currency adjusted net sales

$             392


$             346


$                46


13%


$             745


$             672


$                73


11%

Impact of currency adjustment

(27)


-


(27)


-


(49)


-


(49)


-

Net sales

$             365


$             346


$                19


5%


$             696


$             672


$                24


4%

















 

Affinia Group Intermediate Holdings Inc.
Reconciliation of Non-GAAP Measures (continued)


The supplemental data presented below is a reconciliation of certain financial measures which are intended to facilitate analysis of Affinia Group Intermediate Holdings Inc.'s business and operating performance.


Reconciliation of Net Debt and Leverage Ratio
(Dollars in millions)


June 30, 2014


December 31, 2013

Total Debt Outstanding

$ 850


$ 937

Cash on Hand

104


101

Net Debt

$ 746


$ 836





Trailing Twelve Months Adjusted EBITDA

$ 163


$ 162





Leverage Ratio (a)

4.6X


5.2X





(a) Leverage ratio represents net debt divided by trailing twelve months Adjusted EBITDA.

                        

Conference Call 
Affinia Group will hold a conference call and webcast to discuss its results on Friday, August 8, 2014 at 11:00 a.m. Eastern Time.

To participate in the webcast, visit Affinia's web site, www.affiniagroup.com, and click on the webcast link. To participate in the conference call, dial (800) 708-4540 within the United States and Canada or (847) 619-6397 for international callers and enter participant code 37609498. A replay of the call will be available shortly after the live conference ends.

Affinia Group Intermediate Holdings Inc. is an innovative global leader in the design, manufacture, distribution and marketing of industrial grade products and services, including extensive offerings of aftermarket parts for automotive and heavy-duty vehicles. With approximately $1.4 billion in annual revenue, Affinia has operations in North and South America, Europe, and Asia. For more information, visit www.affiniagroup.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements may include comments concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, business trends and other information that is not historical. When used in this release, the words "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," or future or conditional verbs, such as "could," "may," "should," or "will," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, management's examination of historical operating trends and data are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there is no assurance that these expectations, beliefs and projections will be achieved. For a more detailed discussion of these risks and uncertainties, see Part I, "Item 1A. Risk Factors" in our Annual Report on form 10-K for the year ended December 31, 2013. With respect to all forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in this release. Such risks, uncertainties and other important factors include, among others, domestic and global economic conditions and the resulting impact on the availability and cost of credit; financial viability of key customers and key suppliers; our dependence on our largest customers; increased crude oil and gasoline prices and resulting reductions in global demand for the use of automobiles; the shift in demand from premium to economy products; pricing and pressures from imports; increasing costs for manufactured components, raw materials and energy; the expansion of return policies or the extension of payment terms; risks associated with our non-U.S. operations; risks related to our receivables factoring arrangements; product liability and warranty and recall claims brought against us; reduced inventory levels by our distributors resulting from consolidation and increased efficiency; environmental and automotive safety regulations; the availability of raw materials, manufactured components or equipment from our suppliers; challenges to our intellectual property portfolio; our ability to develop improved products; the introduction of improved products and services that extend replacement cycles otherwise reduce demand for our products; our ability to achieve cost savings from our restructuring plans; our ability to successfully effect dispositions of existing lines of business; our ability to successfully combine our operations with any businesses we have acquired or may acquire; risk of impairment charges to our long-lived assets; risk of impairment to intangibles and goodwill; the risk of business disruptions related to a variety of events or conditions including natural and man-made disasters; risks associated with foreign exchange rate fluctuations; risks associated with our expansion into new markets; the impact on our tax rate resulting from the mix of our profits and losses in various jurisdictions; reductions in the value of our deferred tax assets; difficulties in developing, maintaining or upgrading information technology systems; risks associated with doing business in corrupting environments; and our substantial leverage and limitations on flexibility in operating our business contained in our debt agreements. Additionally, there may be other factors that could cause our actual results to differ materially from the forward-looking statements. Our forward–looking statements apply only as of the date of this release or as of the date they were made. We undertake no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

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SOURCE Affinia Group Intermediate Holdings Inc.

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"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU's GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes. In...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
"Coalfire is a cyber-risk, security and compliance assessment and advisory services firm. We do a lot of work with the cloud service provider community," explained Ryan McGowan, Vice President, Sales (West) at Coalfire Systems, Inc., in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...