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Navistar Reports Third Quarter Results

- Reports net loss of $2 million, or 2-cents per share, on revenues of $2.8 billion

LISLE, Ill., Sept. 3, 2014 /PRNewswire/ -- Navistar International Corporation (NYSE: NAV) today announced a third quarter 2014 net loss of $2 million, or $0.02 per diluted share, compared to a third quarter 2013 net loss of $247 million, or $3.06 per diluted share. Revenues in the quarter were $2.8 billion, essentially flat versus the third quarter of 2013.

Navistar Logo.

"Our third quarter results reflect a number of positive trends including increased production, improvements in warranty charges, cost reductions that further lowered our breakeven point and our continued efforts to manage cash," said Troy A. Clarke, Navistar president and chief executive officer. "While we have work ahead of us to grow the business, improve our market share and further reduce our cost of doing business, we do take some satisfaction in achieving positive income from continuing operations before taxes—an important financial milestone we've not realized in our quarterly performance since 2011."

The company reported $21 million in income from continuing operations before income taxes in the third quarter 2014, compared to a $211 million loss from continuing operations before income taxes for the same period one year ago. Third quarter 2014 EBITDA was $142 million versus an EBITDA loss of $74 million in the same period one year ago. This year's third quarter included a $29 million benefit in pre-existing warranty adjustments, partially offset by $20 million in restructuring and impairment charges. As a result, adjusted third quarter 2014 EBITDA was $133 million, which exceeded the company's third quarter guidance of between $75 million and $125 million, excluding pre-existing warranty and one-time items.

Navistar finished the third quarter 2014 with $1.1 billion in manufacturing cash, cash equivalents and marketable securities. Excluding a $90 million intercompany loan from NFC, Navistar's captive finance company, manufacturing cash ended the quarter at $1.01 billion, at the midpoint of the guidance range, as the loan was not included in the guidance.

The company reduced its year-over-year structural costs in the third quarter by an additional $86 million, including $67 million in savings from selling, general, and administrative (SG&A) expense and $19 million in reduced engineering costs. Year-to-date, Navistar has reduced structural costs by $245 million.

Navistar's warranty spend improved in the third quarter, down 22 percent year-over-year. These results were driven by significant quality performance improvements, lower repair costs and a reduced population of trucks still in the warranty periods.

Third quarter highlights included a 10 percent year-over-year increase in chargeouts for Class 6-8 trucks and buses in the United States and Canada, as well as ending the quarter with a 54 percent increase in order backlog year-over-year. Also, in July, Navistar launched its line of severe service trucks powered by the company's 9/10 SCR engines.

"Regaining market share remains a top priority and while we still have work to do, we are excited by the favorable feedback we receive from those customers who have bought and experienced our new trucks," Clarke added. "With additional offerings for medium-duty and severe service applications, we're very encouraged with our future prospects."

The company provided the following guidance updates:

  • Raised Class 8 industry forecast for FY2014 (U.S./Canada) to 235,000-240,000;
  • Expects to finish FY2014 with $300 million in structural cost savings;
  • Projects Q4 EBITDA of $115 million to $165 million, excluding pre-existing warranty and one-time items; and
  • Projects between $1.0 billion and $1.1 billion in manufacturing cash, cash equivalents and marketable securities at the end of Q4 after repaying the remaining $166 million of the company's 3% senior subordinated convertible notes maturing in October.

Summary of Financial Results:



Third Quarter


First Nine Months

(in millions, except per share data)

2014


2013


2014


2013

Sales and revenues, net

$

2,844


$

2,861


$

7,798


$

8,024

Segment Results:








North America Truck

$

(12)


$

(143)


$

(353)


$

(547)

North America Parts

127


98


357


329

Global Operations

(2)


(22)


(185)


Financial Services

24


23


71


64









Loss from continuing operations, net of tax(A)

$

(3)


$

(237)


$

(550)


$

(704)

Net loss(A)

(2)


(247)


(547)


(744)









Diluted loss per share from continuing operations(A)

$

(0.04)


$

(2.94)


$

(6.77)


$

(8.76)

Diluted loss per share(A)

(0.02)


(3.06)


(6.73)


(9.25)

________________

(A)

Amounts attributable to Navistar International Corporation.

 

North America Truck For the third quarter 2014, the North America Truck segment recorded a loss of $12 million, compared with a year-ago third quarter loss of $143 million. The year-over-year improvement was primarily driven by lower charges for adjustments related to pre-existing warranties and additional structural cost savings. Chargeouts for traditional markets were up 10 percent, reflecting a 24 percent increase of Class 8 heavy-duty trucks and a 6 percent increase in Class 6/7 medium-duty trucks, partially offset by an 18 percent decrease in Class 8 severe service trucks.

North America Parts — For the third quarter 2014, the North America Parts segment recorded a profit of $127 million, compared to a year-ago third quarter profit of $98 million. Parts revenues in the quarter improved by 4 percent due to improvements in commercial markets, partially offset by lower military sales. Profit improved by 30 percent year-over-year driven by stronger performance in commercial markets.

Global Operations — For the third quarter 2014, global operations recorded a loss of $2 million compared to a year-ago third quarter loss of $22 million. The year-over-year improvement was primarily driven by geographic mix from its export truck operations, lower foreign exchange losses and lower SG&A expenses resulting from the company's cost-reduction initiatives, partially offset by a decline in South America engine volumes.

Financial Services — For the third quarter 2014, the financial services segment recorded a profit of $24 million compared to third quarter 2013 profit of $23 million. Financial results improved due to lower structural costs and interest income from an intercompany loan, which more than offset the effects of lower overall retail balances.

About Navistar
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, and IC Bus™ brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Another affiliate offers financing services. The International® ProStar® with Cummins ISX15 and International® TerraStar® 4x4 were named 2014 heavy-duty and medium-duty commercial truck of the year, respectively, by the American Truck Dealers (ATD) association. Additional information is available at www.Navistar.com.

Forward-Looking Statement
Information provided and statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this report and the company assumes no obligation to update the information included in this report. Such forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties, and assumptions. For a further description of these factors, see the risk factors set forth in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the fiscal year ended October 31, 2013 and our quarterly report on Form 10-Q for the quarter ended July 31, 2014. Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. All future written and oral forward-looking statements by us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Except for our ongoing obligations to disclose material information as required by the federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.


Navistar International Corporation and Subsidiaries

Consolidated Statements of Operations

(Unaudited)



Three Months Ended July 31,


Nine Months Ended July 31,

(in millions, except per share data)

2014


2013


2014


2013

Sales and revenues








Sales of manufactured products, net

$2,806


$2,820


$7,683


$7,905

Finance revenues

38


41


115


119

Sales and revenues, net

2,844


2,861


7,798


8,024

Costs and expenses








Costs of products sold

2,417


2,547


6,899


7,196

Restructuring charges

16



6



27



14

Asset impairment charges

4


17


173


17

Selling, general and administrative expenses

241


308


717


905

Engineering and product development costs

80


99


253


310

Interest expense

78


76


234


240

Other expense (income), net

(11)


22


(5)


(35)

Total costs and expenses

2,825


3,075


8,298


8,647

Equity in income of non-consolidated affiliates

2


3


5


6

Income (loss) from continuing operations before income taxes

21


(211)


(495)


(617)

Income tax expense

(14)


(16)


(25)


(53)

Income (loss) from continuing operations

7


(227)


(520)


(670)

Income (loss) from discontinued operations, net of tax

1


(10)


3


(40)

Net Income (loss)

8


(237)


(517)


(710)

Less: Net income attributable to non-controlling interests

10


10


30


34

Net loss attributable to Navistar International Corporation

$

(2)


$

(247)


$

(547)


$

(744)









Amounts attributable to Navistar International Corporation common shareholders:









Loss from continuing operations, net of tax

$

(3)


$

(237)


$

(550)


$

(704)

Income (loss) from discontinued operations, net of tax

1


(10)


3


(40)

Net loss

$

(2)


$

(247)


$

(547)


$

(744)









Earnings (loss) per share:








Basic:








Continuing operations

$

(0.04)


$

(2.94)


$

(6.77)


$

(8.76)

Discontinued operations

0.02


(0.12)


0.04


(0.49)


$

(0.02)


$

(3.06)


$

(6.73)


$

(9.25)

Diluted:








Continuing operations

$

(0.04)


$

(2.94)


$

(6.77)


$

(8.76)

Discontinued operations

0.02


(0.12)


0.04


(0.49)


$

(0.02)


$

(3.06)


$

(6.73)


$

(9.25)









Weighted average shares outstanding:








Basic

81.4


80.6


81.3


80.4

Diluted

81.4


80.6


81.3


80.4

 


Navistar International Corporation and Subsidiaries

Consolidated Balance Sheets



July 31,


October 31,

(in millions)

2014


2013

ASSETS

(Unaudited)



Current assets




Cash and cash equivalents

$

547


$

755

Marketable securities

618


830

Trade and other receivables, net

568


737

Finance receivables, net

1,707


1,597

Inventories

1,462


1,210

Deferred taxes, net

39


72

Other current assets

202


258

Total current assets

5,143


5,459

Restricted cash

121


91

Trade and other receivables, net

26


29

Finance receivables, net

302


338

Investments in non-consolidated affiliates

72


77

Property and equipment (net of accumulated depreciation and amortization of $2,533 and $2,440, respectively)

1,657


1,741

Goodwill

38


184

Intangible assets (net of accumulated amortization of $106 and $97, respectively)

98


138

Deferred taxes, net

153


159

Other noncurrent assets

92


99

Total assets

$

7,702


$

8,315

LIABILITIES and STOCKHOLDERS' DEFICIT




Liabilities




Current liabilities




Notes payable and current maturities of long-term debt

$

1,020


$

1,163

Accounts payable

1,572


1,502

Other current liabilities

1,425


1,596

Total current liabilities

4,017


4,261

Long-term debt

4,184


3,922

Postretirement benefits liabilities

2,450


2,564

Deferred taxes, net

14


33

Other noncurrent liabilities

1,083


1,136

Total liabilities

11,748


11,916

Redeemable equity securities

2


4

Stockholders' deficit




Series D convertible junior preference stock

3


3

Common stock (86.8 shares issued, $0.10 par value per share and 220 shares authorized, all at both dates)

9


9

Additional paid-in capital

2,499


2,477

Accumulated deficit

(4,610)


(4,063)

Accumulated other comprehensive loss

(1,758)


(1,824)

Common stock held in treasury, at cost (5.5 and 6.3 shares, respectively)

(225)


(251)

Total stockholders' deficit attributable to Navistar International Corporation

(4,082)


(3,649)

Stockholders' equity attributable to non-controlling interests

34


44

Total stockholders' deficit

(4,048)


(3,605)

Total liabilities and stockholders' deficit

$

7,702


$

8,315

 


Navistar International Corporation and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited)



Nine Months Ended July 31,

(in millions)

2014


2013

Cash flows from operating activities




Net loss

(517)


(710)

Adjustments to reconcile net loss to net cash used in operating activities:




Depreciation and amortization

177


225

Depreciation of equipment leased to others

79


105

Deferred taxes, including change in valuation allowance

(4)


19

Asset impairment charges

173


25

Gain on sales of investments and businesses, net


(13)

Amortization of debt issuance costs and discount

38


43

Stock-based compensation

12


19

Provision for doubtful accounts, net of recoveries

12


16

Equity in income of non-consolidated affiliates, net of dividends

4


5

Write-off of debt issuance cost and discount

1


6

Other non-cash operating activities

(27)


(60)

Changes in other assets and liabilities, exclusive of the effects of businesses disposed

(292)


354

Net cash provided by (used in) operating activities

(344)


34

Cash flows from investing activities




Purchases of marketable securities

(1,210)


(1,070)

Sales of marketable securities

1,092


664

Maturities of marketable securities

330


164

Net change in restricted cash and cash equivalents

(30)


(9)

Capital expenditures

(57)


(136)

Purchases of equipment leased to others

(157)


(351)

Proceeds from sales of property and equipment

40


22

Investments in non-consolidated affiliates


(25)

Proceeds from sales of affiliates

6


50

Net cash provided by (used in) investing activities

14


(691)

Cash flows from financing activities




Proceeds from issuance of securitized debt

105


279

Principal payments on securitized debt

(32)


(501)

Proceeds from issuance of non-securitized debt

603


390

Principal payments on non-securitized debt

(617)


(438)

Net increase in notes and debt outstanding under revolving credit facilities

87


87

Principal payments under financing arrangements and capital lease obligations

(20)


(55)

Debt issuance costs

(14)


(16)

Proceeds from financed lease obligations

44


276

Issuance of common stock


14

Proceeds from exercise of stock options

18


9

Dividends paid by subsidiaries to non-controlling interest

(40)


(35)

Other financing activities


4

Net cash provided by financing activities

134


14

Effect of exchange rate changes on cash and cash equivalents

(12)


(19)

Decrease in cash and cash equivalents

(208)


(662)

Cash and cash equivalents at beginning of the period

755


1,087

Cash and cash equivalents at end of the period

$

547


$

425







 

Navistar International Corporation and Subsidiaries

Segment Reporting

(Unaudited)


We define segment profit (loss) as net income (loss) from continuing operations attributable to Navistar International Corporation excluding income tax expense. The following tables present selected financial information for our reporting segments:


(in millions)

North America Truck


North America Parts


Global Operations


Financial

Services(A)


Corporate

and

Eliminations


Total

Three Months Ended July 31, 2014












External sales and revenues, net

$

1,801


$

610


$

395


$

38


$


$

2,844

Intersegment sales and revenues

113


11


12


22


(158)


Total sales and revenues, net

$

1,914


$

621


$

407


$

60


$

(158)


$

2,844

Income (loss) from continuing operations attributable to NIC, net of tax

$

(12)


$

127


$

(2)


$

24


$

(140)


$

(3)

Income tax expense





(14)


(14)

Segment profit (loss)

$

(12)


$

127


$

(2)


$

24


$

(126)


$

11

Depreciation and amortization

$

41


$

4


$

8


$

12


$

6


$

71

Interest expense




18


60


78

Equity in income of non-consolidated affiliates

1


1





2

Capital expenditures(B)

4



2



1


7


(in millions)

North America Truck


North America Parts


Global Operations


Financial

Services(A)


Corporate

and

Eliminations


Total

Three Months Ended July 31, 2013












External sales and revenues, net

$

1,761


$

583


$

476


$

41


$


$

2,861

Intersegment sales and revenues

135


13


23


20


(191)


Total sales and revenues, net

$

1,896


$

596


$

499


$

61


$

(191)


$

2,861

Income (loss) from continuing operations attributable to NIC, net of tax

$

(143)


$

98


$

(22)


$

23


$

(193)


$

(237)

Income tax expense





(16)


(16)

Segment profit (loss)

$

(143)


$

98


$

(22)


$

23


$

(177)


$

(221)

Depreciation and amortization

$

59


$

5


$

9


$

10


$

5


$

88

Interest expense




17


59


76

Equity in income of non-consolidated affiliates

2


1





3

Capital expenditures(B)

20


1


4



4


29

 


(in millions)

North America Truck


North America Parts


Global Operations


Financial

Services(A)


Corporate

and

Eliminations


Total

Nine Months Ended July 31, 2014












External sales and revenues, net

$

4,758


$

1,818


$

1,107


$

115


$


$

7,798

Intersegment sales and revenues

330


33


26


57


(446)


Total sales and revenues, net

$

5,088


$

1,851


$

1,133


$

172


$

(446)


$

7,798

Income (loss) from continuing operations attributable to NIC, net of tax

$

(353)


$

357


$

(185)


$

71


$

(440)


$

(550)

Income tax expense





(25)


(25)

Segment profit (loss)

$

(353)


$

357


$

(185)


$

71


$

(415)


$

(525)

Depreciation and amortization

$

168


$

12


$

24


$

33


$

19


$

256

Interest expense




52


182


234

Equity in income (loss) of non-consolidated affiliates

3


3


(1)




5

Capital expenditures(B)

42


5


6


1


3


57


(in millions)

North America Truck


North America Parts


Global Operations


Financial

Services(A)


Corporate

and

Eliminations


Total

Nine Months Ended July 31, 2013












External sales and revenues, net

$

4,694


$

1,873


$

1,338


$

119


$


$

8,024

Intersegment sales and revenues

382


45


60


59


(546)


Total sales and revenues, net

$

5,076


$

1,918


$

1,398


$

178


$

(546)


$

8,024

Income (loss) from continuing operations attributable to NIC, net of tax

$

(547)


$

329


$


$

64


$

(550)


$

(704)

Income tax expense





(53)


(53)

Segment profit (loss)

$

(547)


$

329


$


$

64


$

(497)


$

(651)

Depreciation and amortization

$

244


$

13


$

27


$

29


$

17


$

330

Interest expense




52


188


240

Equity in income (loss) of non-consolidated affiliates

7


4


(5)




6

Capital expenditures(B)

113


2


11


1


9


136


(in millions)

North America Truck


North America Parts


Global Operations


Financial

Services


Corporate

and

Eliminations


Total

Segment assets, as of:












July 31, 2014

$

2,355


$

704


$

816


$

2,504


$

1,323


$

7,702

October 31, 2013

2,250


716


1,162


2,355


1,832


8,315

_________________________

(A)

Total sales and revenues in the Financial Services segment include interest revenues of $44 million and $126 million for the three and nine months ended July 31, 2014, respectively and $47 million and $140 million for the three and nine months ended July 31, 2013, respectively.

(B)

Exclusive of purchases of equipment leased to others.

 

SEC Regulation G Non-GAAP Reconciliation
The financial measures presented below are unaudited and not in accordance with, or an alternative for, financial measures presented in accordance with U.S. generally accepted accounting principles ("GAAP"). The non-GAAP financial information presented herein should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP and are reconciled to the most appropriate GAAP number below.

Earnings (loss) Before Interest, Income Taxes, Depreciation, and Amortization ("EBITDA"):
We define EBITDA as our consolidated net income (loss) from continuing operations attributable to Navistar International Corporation, net of tax, plus manufacturing interest expense, income taxes, and depreciation and amortization. We believe EBITDA provides meaningful information to the performance of our business and therefore we use it to supplement our GAAP reporting. We have chosen to provide this supplemental information to investors, analysts and other interested parties to enable them to perform additional analyses of operating results.

Adjusted EBITDA:
We believe that adjusted EBITDA, which excludes certain identified items that we do not consider to be part of our ongoing business, improves the comparability of year to year results, and is representative of our underlying performance. Management uses this information to assess and measure the performance of our operating segments. We have chosen to provide this supplemental information to investors, analysts and other interested parties to enable them to perform additional analyses of operating results, to illustrate the results of operations giving effect to the non-GAAP adjustments shown in the below reconciliations, and  to provide an additional measure of performance.

Manufacturing Cash, Cash Equivalents, and Marketable Securities:
Manufacturing cash, cash equivalents, and marketable securities represents the Company's consolidated cash, cash equivalents, and marketable securities excluding cash, cash equivalents, and marketable securities of our financial services operations. We include marketable securities with our cash and cash equivalents when assessing our liquidity position as our investments are highly liquid in nature. We have chosen to provide this supplemental information to investors, analysts and other interested parties to enable them to perform additional analyses of our ability to meet our operating requirements, capital expenditures, equity investments, and financial obligations.

Structural costs consists of Selling, general and administrative expenses and Engineering and product development costs.

EBITDA reconciliation:

(in millions)

Three Months Ended
July 31, 2014

Loss from continuing operations attributable to NIC, net of tax

(3)

Plus:


Depreciation and amortization expense

71

Manufacturing interest expense(A)

60

Less:


Income tax benefit (expense)

(14)

EBITDA

$

142




______________________

(A)

Manufacturing interest expense is the net interest expense primarily generated from borrowings that support the manufacturing and corporate operations, adjusted to eliminate intercompany interest expense with our Financial Services segment. The following table reconciles Manufacturing interest expense to the consolidated interest expense:





Three Months Ended
July 31, 2014


(in millions)



Interest expense

$

78


Less:  Financial services interest expense

18


Manufacturing interest expense

$

60

 

Adjusted EBITDA reconciliation:


(in millions)

Three Months Ended
July 31, 2014

EBITDA(reconciled above)

$

142

Less significant items of:


Asset impairments charges

4

Adjustments to pre-existing warranties(A)

(29)

Restructuring charges(B)

16


(9)



Adjusted EBITDA

$

133

______________________

(A)

Adjustments to pre-existing warranties reflect changes in our estimate of warranty costs for products sold in prior periods. Such adjustments typically occur when claims experience deviates from historic and expected trends. Our warranty liability is generally affected by component failure rates, repair costs, and the timing of failures. Future events and circumstances related to these factors could materially change our estimates and require adjustments to our liability. In addition, new product launches require a greater use of judgment in developing estimates until historical experience becomes available. The adjustments primarily impacted the North America Truck segment. In the third quarter of 2014, we recognized a benefit for adjustments to pre-existing warranties of $(29) million, or (0.36) per diluted share. The benefit is comprised of a benefit for changes in estimates of $(59) million, partially offset by a $30 million correction of prior-period errors primarily related to pre-existing warranties.

(B)

In the third quarter of 2014, the Company incurred restructuring charges of $16 million, primarily related to the closure 2011 closure of Chatham, Ontario plant, based on a ruling received from the Financial Services Tribunal in Ontario, Canada.

 

The above items did not have a material impact on taxes due to the valuation allowances on our U.S. deferred tax assets, which was established in the fourth quarter of 2012.

 

Manufacturing segment cash and cash equivalents and marketable securities reconciliation:



As of July 31, 2014

(in millions)

Manufacturing Operations


Financial Services Operations


Consolidated Balance Sheet

Assets






Cash and cash equivalents

$

517


$

30


$

547

Marketable securities

581


37


618

Total Cash and cash equivalents and Marketable securities

$

1,098


$

67


$

1,165



(in millions)

July 31, 2014

Manufacturing Cash and cash equivalents and Marketable securities(reconciled above)

$                      1,098

Less: NFC intercompany loan

90

Adjusted Manufacturing Cash and cash equivalents and Marketable securities

$                      1,008

 

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SOURCE Navistar International Corporation

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Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning 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 busin...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...