Welcome!

News Feed Item

Finning reports Q4 and annual 2016 results

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/16/17 -- Finning International Inc. (TSX: FTT) ("Finning" or the "Company") reported fourth quarter and annual 2016 results today. All monetary amounts are in Canadian dollars unless otherwise stated.

HIGHLIGHTS


--  Q4 basic EPS(1) was $0.05 per share; Adjusted EPS(2)(3) was $0.28 per
    share.
--  Q4 revenue was up 12% from Q3 2016, driven by higher new equipment sales
    in Canada and South America, and stronger product support in Canada.
--  Canada's annual fixed SG&A(1) costs were down 22% from 2014, excluding
    significant items and the Saskatchewan operations acquired in 2015. Q4
    2016 total SG&A, excluding severance and restructuring costs, was down
    7% from Q4 2015 on flat revenues.
--  New equipment inventory was down $155 million from December 2015,
    excluding the impact of foreign exchange, driven by $175 million
    reduction in Canada.
--  Strong annual free cash flow(3) of $370 million, including $113 million
    in Q4, reflects improved working capital(3) management.

"Our fourth quarter results provide a solid end to a year marked by continued progress towards reshaping Finning into a stronger, more agile company. We enter 2017 with a significantly reduced cost structure, optimized facility footprint, efficient parts supply chain, and improved service profitability. Our resilient business model and capital discipline have enabled us to generate strong free cash flow, which has contributed to strengthening our financial position despite challenging market conditions," said Scott Thomson, president and CEO, Finning International.

"The changes we have made to our business position us well for the year ahead. We expect a modest increase in product support to be offset by ongoing weakness in equipment demand due to prevalent uncertain market conditions in our territories. Going forward, we have clear plans in place to build on the significant operational improvements made with continued focus on safety and people. We will also increase our emphasis on leveraging technology to improve performance and deliver greater customer value. Importantly, our business has been repositioned to support our objective of delivering improved profitability in a capital efficient fashion," concluded Mr. Thomson.

Q4 2016 FINANCIAL SUMMARY


                                        ------------------------------------
                                                         Q4 2015
$ millions, except per share amounts      Q4 2016  (restated)(4)   % change
----------------------------------------------------------------------------
Revenue                                     1,491          1,537         (3)
----------------------------------------------------------------------------
EBIT(1)                                        18           (349)       105
----------------------------------------------------------------------------
EBIT margin                                   1.3%         (22.7)%
----------------------------------------------------------------------------
EBITDA(1)(3)                                   65           (282)       123
EBITDA margin(3)                              4.3%         (18.4)%
----------------------------------------------------------------------------
Net income                                      9           (309)       103
Basic EPS                                    0.05          (1.82)       103
----------------------------------------------------------------------------
Free cash flow                                113            347        (67)
----------------------------------------------------------------------------

Included in Q4 2016 and Q4 2015 results are the following significant items that management does not consider indicative of operational and financial trends either by nature or amount. These significant items are summarized below and described in more detail on page 18 of the Company's Management's Discussion and Analysis ("MD&A").


----------------------------------------------------------------------------
Q4 2016 EBIT and
 EBITDA by Operation
$ millions, except               South     UK &  Corporate  Finning
 per share amounts    Canada   America  Ireland    & Other    Total     EPS
----------------------------------------------------------------------------
EBIT / EPS                (3)       27        8        (14)      18    0.05
Severance costs           15         -        -          -       15    0.06
Facility closures and
 restructuring costs      32         -        -          -       32    0.15
Estimated loss on
 alleged fraud by a
 customer                  -        10        -          -       10    0.04
Gain on investment         -         -        -         (5)      (5)  (0.02)
----------------------------------------------------------------------------
Adjusted EBIT(2)(3) /
 Adjusted EPS             44        37        8        (19)      70    0.28
----------------------------------------------------------------------------
Adjusted EBITDA(2)(3)     68        53       15        (19)     117
--------------------------------------------------------------------
EBIT margin             (0.3)%     5.0%     3.3%         -      1.3%
--------------------------------------------------------------------
Adjusted EBIT
 margin(2)(3)            6.2%      7.0%     3.3%         -      4.8%
--------------------------------------------------------------------
Adjusted EBITDA
 margin(2)(3)            9.5%      9.9%     6.1%         -      7.9%
--------------------------------------------------------------------

----------------------------------------------------------------------------
Q4 2015 EBIT and
 EBITDA by Operation
$ millions, except               South     UK &  Corporate  Finning
 per share amounts    Canada   America  Ireland    & Other    Total     EPS
----------------------------------------------------------------------------
EBIT / EPS               (17)     (303)     (31)         2     (349)  (1.82)
Distribution network
 and goodwill
 impairment                -       324       14          -      338    1.56
Facility closure and
 restructuring costs      40         3        2          -       45    0.19
Inventory and other
 asset impairments        16        10       16          -       42    0.19
FX & tax impact on
 Argentine peso
 devaluation               -        12        -          -       12    0.14
Severance costs            -         -        2          -        2    0.01
Gain on sale of
 Uruguay business          -         -        -         (8)      (8)  (0.04)
----------------------------------------------------------------------------
Adjusted EBIT /
 Adjusted EPS             39        46        3         (6)      82    0.23
----------------------------------------------------------------------------
Adjusted EBITDA           70        65       10         (6)     139
---------------------------------------------------------------------
EBIT margin             (2.4)%   (57.3)%  (10.6)%        -    (22.7)%
---------------------------------------------------------------------
Adjusted EBIT margin     5.5%      9.0%     0.8%         -      5.3%
---------------------------------------------------------------------
Adjusted EBITDA
 margin                  9.8%     12.4%     3.2%         -      9.0%
---------------------------------------------------------------------


--  Revenues were down 3% in Q4 2016 due to lower revenues in the UK &
    Ireland as a result of an unfavourable translation impact from a
    stronger Canadian dollar relative to the British Pound compared to Q4
    2015. Product support revenues declined by 3%, reflecting lower product
    support in South America which offset an increase in product support
    revenues in Canada. New equipment sales were down 2%, with higher sales
    in South America being more than offset by lower new equipment sales in
    the UK & Ireland when translated into Canadian dollars.
--  Gross profit was up 3% compared to Q4 2015 due to higher margins.
    However, excluding the impairment of inventory and other assets recorded
    in Q4 2015, gross profit margin of 25.4% was 100 basis points below Q4
    2015, reflecting increased competitive pressures in all markets and
    lower margins on certain equipment sales in Canada and South America.
--  Adjusted EBIT improved in Canada (up $5 million) and the UK & Ireland
    (up $5 million) from Q4 2015, reflecting lower SG&A costs. However,
    consolidated Adjusted EBIT was down $12 million mostly as a result of:
    --  the negative performance of a specific mining contract in South
        America, which reduced Adjusted EBIT by $7 million ($0.03 per
        share);
    --  higher costs for the Company's long-term incentive plan, which were
        $8 million ($0.04 per share) in the quarter, an increase of $10
        million ($0.04 per share) over Q4 2015; and
    --  $4 million ($0.02 per share) higher corporate costs related to
        strategic digital initiatives in Q4 2016.

--  Adjusted EPS of $0.28 per share for the quarter benefited from a tax
    recovery of which approximately $0.05 per share offset higher tax
    expenses in the prior quarters of 2016. This tax recovery is the outcome
    of qualifying for an adjustment to reduce taxable income in Argentina to
    compensate for inflation.
--  Q4 free cash flow was $113 million, with strong cash flow generated by
    all operations. For the full year 2016, free cash flow of $370 million
    was above $325 million in 2015, reflecting improved working capital
    management.
--  The Company has a strong balance sheet: net debt to Adjusted EBITDA
    ratio(2)(3) was 1.9 and net debt to invested capital ratio(3) was 32.0%
    at the end of Q4 2016.

Q4 2016 INVESTED CAPITAL


                                           ---------------------------------
                                               Q4 2016    Q3 2016    Q4 2015
----------------------------------------------------------------------------
Invested capital(3)($ millions)
Consolidated                                     2,797      2,917      3,240
  Canada                                         1,595      1,650      1,760
  South America (U.S. dollars)                     741        778        811
  UK & Ireland (U.K. pound sterling)               130        148        157
----------------------------------------------------------------------------
Invested capital turnover(3)(4)(times)            1.90       1.85       1.78
----------------------------------------------------------------------------
Adjusted ROIC(1)(2)(3)(%)
Consolidated                                       9.3        9.2       10.9
  Canada                                           9.3        8.7       10.6
  South America                                   15.0       15.6       14.0
  UK & Ireland                                     5.9        3.4        9.0
----------------------------------------------------------------------------


--  Excluding the impact of foreign currency translation, invested capital
    decreased by nearly $365 million from December 2015, driven by improved
    management of working capital across the organization, including a $175
    million reduction in new equipment inventory in Canada which was partly
    offset by investment in Argentina to support increased sales activity.
    Lower rental and capital assets in Canada also contributed to a decrease
    in invested capital from December 2015.
--  Despite reduced invested capital levels, consolidated Adjusted ROIC of
    9.3% was below Q4 2015 as difficult market conditions impacted earnings
    in all operations.

Q4 2016 HIGHLIGHTS BY OPERATION

Canada


--  Revenue was comparable to Q4 2015, with higher product support (up 5%)
    offsetting lower new equipment sales (down 4%) and rental revenues (down
    24%). Compared to Q3 2016, new equipment sales increased by 26% and
    included a shovel delivery in the oil sands, while product support was
    up 11% with the oil sands volumes returning to the pre-wildfire levels.
    For the full year 2016, the 3% decline in product support was
    attributable to the impact of Alberta wildfires, as well as lower demand
    from construction and power systems customers, primarily in Alberta's
    resource sectors. Mining product support in 2016 was flat compared to
    2015 despite the impact of Alberta wildfires in Q2 and Q3 2016.
--  Adjusted EBIT of $44 million was the highest in 2016 and up 13% from Q4
    2015. The Canadian cost structure was reduced substantially over the
    last two years. Excluding significant items and the Saskatchewan
    operations acquired in 2015, fixed annual SG&A costs were down 22% from
    2014. Q4 2016 total SG&A, excluding severance and restructuring costs,
    was down 7% from Q4 2015 on flat revenues. Despite increased pressure on
    gross profit from a competitive pricing environment, the Canadian
    operations exited 2016 with an Adjusted EBIT margin of 6.2%, up from
    5.5% in Q4 2015 and 5.9% in Q3 2016.

South America


--  Revenues were up slightly compared to Q4 2015, both in Canadian dollars
    and functional currency (US dollars), as stronger new equipment sales
    (up 25%) offset lower product support revenues (down 8%). New equipment
    sales were the highest over the last two years, driven by improved
    construction activity in Argentina where the Company is successfully
    building market share. While product support revenues were below 2015,
    mining product support activity has stabilized and quarterly revenues
    remained relatively flat throughout the year.
--  Adjusted EBIT of $37 million and Adjusted EBIT margin of 7.0% were below
    Q4 2015 primarily due to the negative performance of a specific mining
    contract. SG&A costs were down 2% from Q4 2015, excluding significant
    items in both quarters. The recent recovery in the price of copper
    strengthened the Chilean peso relative to the US dollar, which has
    increased the Company's labour costs without an immediate corresponding
    benefit to revenues.

United Kingdom & Ireland


--  In functional currency (UK Pound Sterling), revenues were similar to Q4
    2015. However, due to the negative translation impact of a weaker UK
    Pound Sterling to Canadian dollar, reported revenues decreased by 19%.
    Product support revenues continued to be impacted by lower activity in
    mining, marine and oil & gas sectors, and were down 5% in functional
    currency. This was offset by higher rental revenues and used equipment
    sales.
--  EBIT of $8 million and EBIT margin of 3.3% improved significantly from
    reported and Adjusted EBIT results in Q4 2015, driven by a lower cost
    structure and a successful execution of the turnaround plan. Management
    continues to transform the UK's business model to deliver sustainable
    results in an extremely competitive environment and with a lower
    proportion of product support in the revenue mix.

CORPORATE AND BUSINESS DEVELOPMENTS

Dividend

The Board of Directors has approved a quarterly dividend of $0.1825 per share, payable on March 16, 2017 to shareholders of record on March 2, 2017. This dividend will be considered an eligible dividend for Canadian income tax purposes.

SELECTED CONSOLIDATED FINANCIAL INFORMATION


                  ----------------------------------------------------------
                  ----------------------------------------------------------
$ millions, except
 per share amounts  Three months ended Dec 31   Twelve months ended Dec 31
                  ----------------------------------------------------------
                  ----------------------------------------------------------
                                 2015                         2015
                           (restated)        %          (restated)        %
                     2016         (4)   change    2016         (4)   change
                  ----------------------------------------------------------
  New equipment       519         531       (2)  1,838       2,190      (16)
  Used equipment       96          91        4     367         341        7
  Equipment rental     56          70      (20)    226         294      (23)
  Product support     816         841       (3)  3,182       3,434       (7)
  Other                 4           4        -      15          16        -
----------------------------------------------------------------------------
    Total revenue   1,491       1,537       (3)  5,628       6,275      (10)
----------------------------------------------------------------------------
Gross profit          380         370        3   1,473       1,641      (10)
Gross profit
 margin              25.4%       24.0%            26.2%       26.1%
SG&A                 (333)       (347)       4  (1,280)     (1,369)       7
SG&A as a
 percentage of
 revenue            (22.3)%     (22.6)%          (22.7)%     (21.8)%
Equity earnings
 (loss) of joint
 venture and
 associate             (1)          1                5           5
Other expenses        (28)       (373)             (33)       (382)
----------------------------------------------------------------------------
EBIT                   18        (349)     105     165        (105)     257
EBIT margin           1.3%      (22.7)%            2.9%       (1.7)%
Adjusted EBIT          70          82      (13)    273         383      (28)
Adjusted EBIT
 margin               4.8%        5.3%             4.9%        6.1%
----------------------------------------------------------------------------
Net income              9        (309)     103      65        (161)     140
Basic EPS            0.05       (1.82)     103    0.38       (0.94)     141
Adjusted basic EPS   0.28        0.23       20    0.88        1.29      (32)
----------------------------------------------------------------------------
EBITDA                 65        (282)     123     357         126      184
EBITDA margin         4.3%      (18.4)%            6.3%        2.0%
Adjusted EBITDA       117         139      (15)    465         604      (23)
Adjusted EBITDA
 margin               7.9%        9.0%             8.3%        9.6%
Free cash flow        113         347      (67)    370         325       14
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                  Dec 31, 2016 Dec 31, 2015
                  ---------------------------
Invested capital         2,797        3,240
Invested capital
 turnover (times)         1.90         1.78
Net debt to
 invested capital         32.0%        36.7%
ROIC                       5.6%        (3.0)%
Adjusted ROIC              9.3%        10.9%
---------------------------------------------
---------------------------------------------

To download Finning's complete Q4 and annual 2016 results in PDF, please open the following link: http://media3.marketwire.com/docs/FinningQ416results.pdf

Q4 2016 INVESTOR CALL

The Company will hold an investor call on February 16 at 11:00 am Eastern Time. Dial-in numbers: 1-800-319-4610 (Canada and US), 1-416-915-3239 (Toronto area), 1-604-638-5340 (international). The call will be webcast live and subsequently archived at www.finning.com. Playback recording will be available at 1-855-669-9658 (access code 1112) until February 23, 2017.

ABOUT FINNING

Finning International Inc. (TSX: FTT) is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers for over 80 years. Finning sells, rents, and provides parts and services for equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, the United Kingdom and Ireland.

FOOTNOTES


(1)  Earnings Before Finance Costs and Income Taxes (EBIT); Earnings per
     Share (EPS); Earnings Before Finance Costs, Income Taxes, Depreciation
     and Amortization (EBITDA); Selling, General & Administrative Expenses
     (SG&A); Return on Invested Capital (ROIC).
(2)  Certain 2016 and 2015 financial metrics were impacted by significant
     items management does not consider indicative of operational and
     financial trends either by nature or amount; these significant items
     are summarized on page 2 of this news release and described on pages 3,
     4, and 18 of the Company's MD&A, and the financial metrics that have
     been adjusted to take these items into account are referred to as
     "Adjusted" metrics.
(3)  These financial metrics, referred to as "non-GAAP financial measures"
     do not have a standardized meaning under International Financial
     Reporting Standards (IFRS), which are also referred to herein as
     Generally Accepted Accounting Principles (GAAP), and therefore may not
     be comparable to similar measures presented by other issuers. For
     additional information regarding these financial metrics, including
     definitions and reconciliations from each of these non-GAAP financial
     measures to their most directly comparable measure under GAAP, see the
     heading "Description of Non-GAAP Financial Measures and
     Reconciliations" in the Company's MD&A. Management believes that
     providing certain non-GAAP financial measures provides users of the
     Company's consolidated financial statements with important information
     regarding the operational performance and related trends of the
     Company's business. By considering these measures in combination with
     the comparable IFRS measures set out in this MD&A, management believes
     that users are provided a better overall understanding of the Company's
     business and its financial performance during the relevant period than
     if they simply considered the IFRS measures alone.
(4)  As previously disclosed, management has voluntarily changed its
     presentation of certain expenses to provide reliable and more relevant
     information to users of the financial statements and better align with
     industry comparable companies. In addition and as previously disclosed,
     management has concluded that certain cost recoveries are better
     reflected as revenues. Certain line items have been restated in the
     comparative 2015 periods but the impact of restatement is not
     significant. For more information on the impact to financial
     statements, please refer to note 2 of the Company's annual consolidated
     financial statements.

FORWARD-LOOKING DISCLAIMER

This report contains statements about the Company's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts. A statement Finning makes is forward-looking when it uses what the Company knows and expects today to make a statement about the future. Forward-looking statements may include words such as aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target, and will. Forward-looking statements in this report include, but are not limited to, statements with respect to: expectations about the economy, market conditions and the competitive environment and the associated impact on the Company's financial results; expected revenue; expected free cash flow; expectations of a modest increase in product support that is expected to be offset by ongoing weakness in equipment demand due to prevalent uncertain market conditions; plans to build on operational improvements and focus on safety and people; leveraging technology to improve performance and deliver greater customer value; repositioning of Finning's business; delivering improved profitability in a capital efficient fashion; market share growth; stabilization of mining product support activity in South America; execution of the turnaround plan in the UK and Ireland and transformation of the UK's business model to deliver sustainable results with a lower proportion of product support in the revenue mix. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.

Unless otherwise indicated by us, forward-looking statements in this report reflect Finning's expectations as at the date of this report. Except as may be required by Canadian securities laws, Finning does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking statements and that Finning's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts may not be achieved. As a result, Finning cannot guarantee that any forward-looking statement will materialize. Factors that could cause actual results or events to differ materially from those expressed in or implied by these forward-looking statements include: general economic and market conditions; foreign exchange rates; commodity prices; the level of customer confidence and spending, and the demand for, and prices of, Finning's products and services; Finning's ability to maintain its relationship with Caterpillar Inc.; Finning's dependence on the continued market acceptance of its products, including Caterpillar products, and the timely supply of parts and equipment; Finning's ability to continue to improve productivity and operational efficiencies while continuing to maintain customer service; Finning's ability to manage cost pressures as growth in revenue occurs; Finning's ability to reduce costs in response to slowing activity levels; Finning's ability to attract sufficient skilled labour resources as market conditions, business strategy or technologies change; Finning's ability to negotiate and renew collective bargaining agreements with satisfactory terms for Finning's employees and the Company; the intensity of competitive activity; Finning's ability to raise the capital needed to implement its business plan; regulatory initiatives or proceedings, litigation and changes in laws or regulations; stock market volatility; changes in political and economic environments for operations; the integrity, reliability and availability of, and benefits from information technology and the data processed by that technology; and Finning's ability to protect itself from cybersecurity threats or incidents. Forward-looking statements are provided in this report for the purpose of giving information about management's current expectations and plans and allowing investors and others to get a better understanding of Finning's operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking statements for any other purpose.

Forward-looking statements made in this report are based on a number of assumptions that Finning believed were reasonable on the day the Company made the forward-looking statements. Refer in particular to the Outlook section of the MD&A for forward-looking statements. Some of the assumptions, risks, and other factors which could cause results to differ materially from those expressed in the forward-looking statements contained in this report are discussed in Section 4 of the Company's current AIF and in the annual MD&A for the financial risks.

Finning cautions readers that the risks described in the MD&A and the AIF are not the only ones that could impact the Company. Additional risks and uncertainties not currently known to the Company or that are currently deemed to be immaterial may also have a material adverse effect on Finning's business, financial condition, or results of operations.

Except as otherwise indicated, forward-looking statements do not reflect the potential impact of any non-recurring or other unusual items or of any dispositions, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date of this report. The financial impact of these transactions and non-recurring and other unusual items can be complex and depends on the facts particular to each of them. Finning therefore cannot describe the expected impact in a meaningful way or in the same way Finning presents known risks affecting its business.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which i...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
In his session at 20th Cloud Expo, Brad Winett, Senior Technologist for DDN Storage, will present several current, end-user environments that are using object storage at scale for cloud deployments including private cloud and cloud providers. Details on the top considerations of features and functions for selecting object storage will be included. Brad will also touch on recent developments in tiering technologies that deliver single solution and an end-user view of data across files and objects...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.