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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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WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
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...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
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...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
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).