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Velan Inc. Reports Its Year-End and Fourth Quarter 2016/17 Financial Results

MONTREAL, QUEBEC -- (Marketwired) -- 05/18/17 -- Velan Inc. (TSX: VLN) (the "Company"), a world-leading manufacturer of industrial valves, announced today its financial results for its fiscal year and fourth quarter ended February 28, 2017.

Highlights


--  Sales of US$102.8 million for the quarter
--  Adjusted net earnings1of US$3.7 million for the quarter
--  Order backlog of US$438.2 million at the end of the quarter
--  Net new orders received ("Bookings") of US$125.9 million for the quarter
--  Net cash1of US$72.5 million at the end of the quarter
--  Returned US$2.2 million to shareholders in the quarter and US$7.5
    million in the fiscal year by way of dividends and share repurchases

(millions of U.S.
 dollars,                           Three-month
 excluding                        periods ended          Fiscal years ended
 per share amounts)  February 28,  February 29,  February 28,  February 29,
                             2017          2016          2017          2016
                    --------------------------------------------------------
Sales                 $     102.8   $     108.2   $     331.8   $     426.9
Gross profit                 28.9          28.1          88.5         104.3
Gross profit %               28.1%         26.0%         26.7%         24.4%
Adjusted net
 earnings1                    3.7           4.2           7.7          17.3
Adjusted net
 earnings1per share
 - basic and diluted         0.17          0.20          0.36          0.79
Net earnings (loss)2          3.7          (7.8)          7.7           3.6
Net earnings
 (loss)2per share -
 basic and diluted           0.17         (0.35)         0.36          0.17

Fourth Quarter Fiscal 2017 (unless otherwise noted, all amounts are in U.S. dollars and all comparisons are to the fourth quarter of fiscal 2016):


--  Net earnings2amounted to $3.7 million or $0.17 per share compared to a
    net loss2of $7.8 million or $0.35 per share last year. Adjusted net
    earnings1, which excludes from net earnings2a goodwill impairment charge
    as well as the after-tax impact of the restructuring costs incurred in
    the prior year quarter, amounted to $3.7 million or $0.17 per share
    compared to $4.2 million or $0.20 per share last year. The $0.5 million
    decrease in adjusted net earnings1is primarily attributable to a lower
    sales volume which was partially offset by gross margin improvements and
    decreased administration costs.

--  Bookings amounted to $125.9 million, an increase of $39.2 million or
    45.2% compared to the prior year. This increase in bookings is
    principally attributable to new project orders won by the Company's
    French operations to supply valves towards the construction of a nuclear
    power plant in the U.K., which were partially offset by decreased
    bookings in the Company's North American operations where the current
    highly competitive environment in its various markets continues to put
    downward pressure on pricing and lead times.

--  Sales amounted to $102.8 million, a decrease of $5.4 million or 5.0%
    from the prior year. While sales were lower in the current quarter when
    compared to the comparative period in the prior year, they were stronger
    when compared to the previous three quarters of the current fiscal year.
    Sales for the quarter were improved in the Company's French operations,
    while its North American and Italian operations realized lower sales due
    to the effects of the lower bookings and backlog from the prior year.

--  Gross profit percentage increased by 210 basis points from 26.0% to
    28.1%. Despite the lower sales volume, both the gross profit and the
    gross profit percentage increased due to a product mix with a greater
    proportion of higher margin product sales such as spare parts, material
    cost savings, as well as labour and overhead savings stemming from the
    restructuring initiatives implemented in the prior fiscal year

Year Ended Fiscal 2017 (unless otherwise noted, all amounts are in U.S. dollars and all comparisons are to the prior fiscal year):


--  Net earnings2amounted to $7.7 million or $0.36 per share compared to
    $3.6 million or $0.17 per share last year. Adjusted net earnings1, which
    excludes from net earnings2a goodwill impairment charge as well as the
    after-tax impact of restructuring costs incurred in the prior year,
    amounted to $7.7 million or $0.36 per share compared to $17.3 million or
    $0.79 per share last year. The $9.6 million decrease in adjusted net
    earnings1is primarily attributable to a lower sales volume which was
    partially offset by gross margin improvements and decreased
    administration costs.

--  Bookings amounted to $448.2 million, an increase of $118.7 million or
    36.0% compared to last year. Excluding the effect of an order
    cancellation of $23.6 million in the prior year, bookings would have
    increased by $95.1 million or 26.9%. This increase is due primarily to
    new large project orders booked by the Company's French, German and
    Italian operations, which was partially offset by a decrease in orders
    booked in the Company's North American operations.

--  Sales amounted to $331.8 million, a decrease of $95.1 million or 22.3%.
    Despite an improved performance in the last quarter of the year, sales
    were negatively impacted, particularly in the Company's Italian and
    North American operations, by the decreased bookings received over the
    last fiscal year. Delays in shipments of certain large project orders
    caused by various customer-related, supply chain and internal
    operational issues, particularly in our North American operations, also
    had a negative impact on sales for the year.

--  As a result of bookings outpacing sales in the year, the Company ended
    the year with a backlog of $438.2 million, an increase of $107.0 million
    or 32.3% since the beginning of the current fiscal year. This increase
    in backlog occurred despite the negative impact related to the weakening
    of the euro spot rate against the U.S. dollar over the course of the
    year.

--  Gross profit percentage increased by 230 basis points from 24.4% to
    26.7%. Despite the lower sales volume, the increase in the gross profit
    percentage was mainly attributable to a product mix with a greater
    proportion of higher margin product sales, material cost savings, as
    well as labour and overhead savings stemming from the restructuring
    initiatives implemented in the prior fiscal year.

--  Administration costs amounted to $75.9 million, a decrease of $2.1
    million or 2.7%. This decrease was achieved despite a $1.2 million
    increase in costs recognized in connection with the Company's ongoing
    asbestos litigation. The fluctuation in asbestos costs for the year is
    due more to the timing of settlement payments in these two periods
    rather than to changes in long-term trends.

--  The Company ended the year with net cash1of $72.5 million, a decrease of
    $9.5 million or 11.6% since the beginning of the year. This decrease is
    primarily attributable to negative working capital movements and
    distributions to shareholders via dividends and share repurchases.

--  Foreign currency fluctuations did not have a significant impact on the
    Company's net earnings2in the current fiscal year. Based on average
    exchange rates, the euro remained relatively constant against the U.S.
    dollar, while the Canadian dollar weakened by only 0.3% against the U.S.
    dollar when compared to the same period last year.

"This was a year of challenges, particularly on the sales front. Our various efficiency initiatives that we commenced last year helped protect our margin and bottom line this year. In addition, we have conserved cash and maintained a strong balance sheet," said John Ball, CFO of Velan Inc. "While we are encouraged by the steady increase in our backlog, we note that it is concentrated in some of our overseas markets. Our focus for the coming year will be to maintain and broaden our order buildup as well as to ensure timely delivery of project orders."

Yves Leduc, President and CEO of Velan Inc., said, "Although the year's results were disappointing, we are encouraged by signs that the outlook may be improving as both bookings and backlog increased in the second half of the fiscal year. With these recent orders, we should see performance improve in the latter part of the next fiscal year. While market conditions slowly improve, we continue to implement several improvement initiatives under our strategic plan Velocity 2020 in order to position the Company, not just to ride the wave of a recovering market, but to outperform it. The goal is to transform our Company into an organization that is more agile and customer-centric, by delivering greater value to our customers through front-loaded application engineering and design solutions, fast lead times and disciplined market development."

Dividend

The Board declared an eligible quarterly dividend of CDN$0.10 per share, payable on June 30, 2017, to all shareholders of record as at June 15, 2017.

Conference call

Financial analysts, shareholders, and other interested individuals are invited to attend the fourth quarter conference call to be held on Thursday, May 18, 2017, at 4:30 p.m. (EDT). The toll free call-in number is 1-800-672-3665, access code 21852130. A recording of this conference call will be available for seven days at 1-416-626-4100 or 1-800-558-5253, access code 21852130.

About Velan

Founded in Montreal in 1950, Velan Inc. (www.velan.com) is one of the world's leading manufacturers of industrial valves, with sales of US$331.8 million in its last reported fiscal year. The Company employs over 1,800 people and has manufacturing plants in 9 countries. Velan Inc. is a public company with its shares listed on the Toronto Stock Exchange under the symbol VLN.

Safe harbour statement

This news release may include forward-looking statements, which generally contain words like "should", "believe", "anticipate", "plan", "may", "will", "expect", "intend", "continue" or "estimate" or the negatives of these terms or variations of them or similar expressions, all of which are subject to risks and uncertainties, which are disclosed in

the Company's filings with the appropriate securities commissions. While these statements are based on management's assumptions regarding historical trends, current conditions and expected future developments, as well as other factors that it believes are reasonable and appropriate in the circumstances, no forward-looking statement can be guaranteed and actual future results may differ materially from those expressed herein. The Company disclaims any intention or obligation to update or revise any forward-looking statements contained herein whether as a result of new information, future events or otherwise, except as required by the applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Non-IFRS measures

In this press release, the Company presented measures of performance and financial condition that are not defined under International Financial Reporting Standards ("non-IFRS measures") and are therefore unlikely to be comparable to similar measures presented by other companies. These measures are used by management in assessing the operating results and financial condition of the Company. In addition, they provide readers of the Company's consolidated financial statements with enhanced understanding of its results and financial condition, and increase transparency and clarity into the operating results of its core business.

The term "adjusted net earnings" is defined as net income or loss attributable to Subordinate and Multiple Voting Shares plus goodwill impairment loss, plus restructuring costs less the income tax effect of the restructuring costs. Refer to the "Reconciliations of Non-IFRS Measures" section in the Company's Management Discussion and Analysis included in its Annual Report for the fiscal year ended February 28, 2017 for a detailed calculation of this measure.

The term "net cash" is defined as cash and cash equivalents plus short-term investments less bank indebtedness, short-term bank loans, and current portion of long-term bank borrowings. Refer to the "Reconciliations of Non-IFRS Measures" section in the Company's Management Discussion and Analysis included in its Annual Report for the fiscal year ended February 28, 2017 for a detailed calculation of this measure.


1     Non-IFRS measures - see explanation above.
2     Net earnings or loss refer to net income or loss attributable to
      Subordinate and Multiple Voting Shares.



Velan Inc.
Condensed Interim Consolidated Statements of Financial Position
(Unaudited)
(in thousands of U.S. dollars)
------------------------------------------------------------------------
------------------------------------------------------------------------

As At                                      February 28,    February 29,
                                                   2017            2016
                                                      $               $
Assets
Current assets
Cash and cash equivalents                        84,019          89,368
Short-term investments                              974           3,225
Accounts receivable                             125,512         119,569
Income taxes recoverable                          7,145           5,674
Inventories                                     173,089         162,523
Deposits and prepaid expenses                     3,391           3,586
Derivative assets                                 1,202           1,598
                                        --------------------------------
                                                395,332         385,543
Non-current assets
Property, plant and equipment                    91,535          95,257
Intangible assets and goodwill                   19,023          20,352
Deferred income taxes                            12,951          13,537
Other assets                                        456             938
                                        --------------------------------

                                                123,965         130,084
                                        --------------------------------

Total assets                                    519,297         515,627
                                        --------------------------------
                                        --------------------------------

Liabilities
Current liabilities
Bank indebtedness                                 7,792           5,028
Short-term bank loans                             1,650           1,319
Accounts payable and accrued liabilities         60,641          62,943
Income taxes payable                                946           5,746
Dividend payable                                  1,631           1,606
Customer deposits                                43,953          28,123
Provisions                                       10,600           9,333
Accrual for performance guarantees               26,943          30,563
Derivative liabilities                              799           2,945
Current portion of long-term debt                 7,115           7,978
                                        --------------------------------
                                                162,070         155,584
Non-current liabilities
Long-term debt                                   15,318          14,471
Deferred income taxes                             2,784           3,408
Other liabilities                                 7,214           9,045
                                        --------------------------------

                                                 25,316          26,924
                                        --------------------------------
Total liabilities                               187,386         182,508
                                        --------------------------------

Equity

Equity attributable to the Subordinate
 and Multiple Voting shareholders
Share capital                                    73,584          74,345
Contributed surplus                               6,017           5,941
Retained earnings                               281,343         280,380
Accumulated other comprehensive income
 (loss)                                         (35,550)        (33,089)
                                        --------------------------------
                                                325,394         327,577

Non-controlling interest                          6,517           5,542
                                        --------------------------------
Total equity                                    331,911         333,119
                                        --------------------------------


Total liabilities and equity                    519,297         515,627
                                        --------------------------------
                                        --------------------------------



Velan Inc.
Condensed Interim Consolidated Statements of Income (Loss)
(Unaudited)
(in thousands of U.S. dollars, excluding number of shares and per share
amounts)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                        Three-month periods ended        Fiscal years ended
                        February 28, February 29, February 28, February 29,
                                2017         2016         2017         2016
                                   $            $            $            $

Sales                        102,835      108,156      331,777      426,895

Cost of sales                 73,944       80,085      243,249      322,612
                        ----------------------------------------------------

Gross profit                  28,891       28,071       88,528      104,283

Administration costs          18,950       20,325       75,868       77,974
Goodwill impairment loss           -       11,510            -       11,510
Restructuring costs                -          609            -        2,759
Other expense (income)           579         (519)        (408)        (348)
                        ----------------------------------------------------

Operating profit (loss)        9,362       (3,854)      13,068       12,388

Finance income                   328          583          992        1,296
Finance costs                    623          357        1,066        1,097
                        ----------------------------------------------------

Finance income (costs) -
 net                            (295)         226          (74)         199
                        ----------------------------------------------------
Income (Loss) before
 income taxes                  9,067       (3,628)      12,994       12,587
Provision for (Recovery
 of) income taxes              4,981        4,282        4,680        8,302
                        ----------------------------------------------------

Net income (loss) for
 the period                    4,086       (7,910)       8,314        4,285
                        ----------------------------------------------------

Net income (loss)
 attributable to:
Subordinate Voting
 Shares and Multiple
 Voting Shares                 3,707       (7,823)       7,737        3,641
Non-controlling interest         379          (87)         577          644
                        ----------------------------------------------------
                               4,086       (7,910)       8,314        4,285
                        ----------------------------------------------------

Net income (loss) per
 Subordinate and
 Multiple Voting Share
Basic                           0.17        (0.35)        0.36         0.17
Diluted                         0.17        (0.35)        0.36         0.17
                        ----------------------------------------------------

Dividends declared per
 Subordinate and
 Multiple                       0.08         0.08         0.31         0.31
Voting Share                (CA$0.10)    (CA$0.10)    (CA$0.40)    (CA$0.40)
                        ----------------------------------------------------

Total weighted average
 number of Subordinate
 and Multiple Voting
 Shares
Basic                     21,698,670   21,758,224   21,722,089   21,861,230
Diluted                   21,703,812   21,759,862   21,727,697   21,868,242
                        ----------------------------------------------------



Velan Inc.
Condensed Interim Consolidated Statements of Comprehensive Income (Loss)
(Unaudited)
(in thousands of U.S. dollars)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                        Three-month periods ended        Fiscal years ended
                        February 28, February 29, February 28, February 29,
                                2017         2016         2017         2016
                                   $            $            $            $

Comprehensive income
 (loss)

Net income (loss) for
 the period                    4,086       (7,910)       8,314        4,285

Other comprehensive
 income (loss)
Foreign currency
 translation adjustment
 on foreign operations
 whose functional
 currency is other than
 the reporting currency
 (U.S. dollar)                   208        1,606       (2,014)      (5,992)
                        ----------------------------------------------------

Comprehensive income
 (loss)                        4,294       (6,304)       6,300       (1,707)
                        ----------------------------------------------------
                        ----------------------------------------------------

Comprehensive income
 (loss) attributable to:
Subordinate Voting
 Shares and Multiple
 Voting Shares                 3,723       (5,901)       5,276       (1,796)
Non-controlling interest         571         (403)       1,024           89
                        ----------------------------------------------------

                               4,294       (6,304)       6,300       (1,707)
                        ----------------------------------------------------
                        ----------------------------------------------------



Velan Inc.
Condensed Interim Consolidated Statements of Changes in Equity
(Unaudited)
(in thousands of U.S. dollars, excluding number of shares)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                         Equity attributable to the Subordinate and Multiple
                                                         Voting shareholders
                         ---------------------------------------------------
                                                                Accumulated
                                                                      other
                           Number of       Share Contributed  comprehensive
                              shares     capital     surplus  income (loss)
                         ---------------------------------------------------

Balance - February 29,
 2016                     21,737,135      74,345       5,941        (33,089)

Net income (loss) for the
 period                            -           -           -              -
Other comprehensive
 income (loss)                     -           -           -         (2,461)
                         ---------------------------------------------------

                          21,737,135      74,345       5,941        (35,550)

Effect of share-based
 compensation                      -           -          76              -
Share repurchase             (69,900)       (761)          -              -
Dividends
 Multiple Voting Shares            -           -           -              -
 Subordinate Voting
  Shares                           -           -           -              -
 Non-controlling interest          -           -           -              -
                         ---------------------------------------------------

Balance - February 28,
 2017                     21,667,235      73,584       6,017        (35,550)
                         ---------------------------------------------------
                         ---------------------------------------------------


Balance - February 28,
 2015                     21,939,168      76,475       6,064        (27,652)

Net income (loss) for the
 period                            -           -           -              -
Other comprehensive
 income (loss)                     -           -           -         (5,437)
                         ---------------------------------------------------

                          21,939,168      76,475       6,064        (33,089)

Effect of share-based
 compensation                      -           -         104              -
Shares issued under Share
 Option Plan                  14,267         227        (227)             -
Share repurchase            (216,300)     (2,357)          -              -
Acquisition of non-
 controlling interest              -           -           -              -
Dividends
 Multiple Voting Shares            -           -           -              -
 Subordinate Voting
  Shares                           -           -           -              -
 Non-controlling interest          -           -           -              -
                         ---------------------------------------------------

Balance - February 29,
 2016                     21,737,135      74,345       5,941        (33,089)
                         ---------------------------------------------------
                         ---------------------------------------------------




Velan Inc.
Condensed Interim Consolidated Statements of Changes in Equity
(Unaudited)
(in thousands of U.S. dollars, excluding number of shares)
-------------------------------------------------------------------------
-------------------------------------------------------------------------

                          Equity attributable to
                             the Subordinate and
                                 Multiple Voting
                                    shareholders
                         ------------------------

                                                        Non-
                            Retained             controlling       Total
                            earnings       Total    interest      equity
                         ------------------------------------------------

Balance - February 29,
 2016                        280,380     327,577       5,542     333,119

Net income (loss) for the
 period                        7,737       7,737         577       8,314
Other comprehensive
 income (loss)                     -      (2,461)        447      (2,014)
                         ------------------------------------------------

                             288,117     332,853       6,566     339,419

Effect of share-based
 compensation                      -          76           -          76
Share repurchase                (165)       (926)          -        (926)
Dividends
 Multiple Voting Shares       (4,745)     (4,745)          -      (4,745)
 Subordinate Voting
  Shares                      (1,864)     (1,864)          -      (1,864)
 Non-controlling interest          -           -         (49)        (49)
                         ------------------------------------------------

Balance - February 28,
 2017                        281,343     325,394       6,517     331,911
                         ------------------------------------------------
                         ------------------------------------------------


Balance - February 28,
 2015                        283,724     338,611       6,482     345,093

Net income (loss) for the
 period                        3,641       3,641         644       4,285
Other comprehensive
 income (loss)                     -      (5,437)       (555)     (5,992)
                         ------------------------------------------------

                             287,365     336,815       6,571     343,386

Effect of share-based
 compensation                      -         104           -         104
Shares issued under Share
 Option Plan                       -           -           -           -
Share repurchase                (381)     (2,738)          -      (2,738)
Acquisition of non-
 controlling interest              -           -        (890)       (890)
Dividends
 Multiple Voting Shares       (4,801)     (4,801)          -      (4,801)
 Subordinate Voting
  Shares                      (1,803)     (1,803)          -      (1,803)
 Non-controlling interest          -           -        (139)       (139)
                         ------------------------------------------------

Balance - February 29,
 2016                        280,380     327,577       5,542     333,119
                         ------------------------------------------------
                         ------------------------------------------------



Velan Inc.
Condensed Interim Consolidated Statements of Cash Flow
(Unaudited)
(in thousands of U.S. dollars)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                        Three-month periods ended        Fiscal years ended
                        February 28, February 29, February 28, February 29,
                                2017         2016         2017         2016
                                   $            $            $            $

Cash flows from

Operating activities
Net income for the
 period                        4,086       (7,910)       8,314        4,285
Adjustments to reconcile
 net income to cash
 provided by operating
 activities                    3,265        8,738       10,267       17,080
Changes in non-cash
 working capital items        (7,059)      15,448      (11,434)       7,519
                        ----------------------------------------------------
Cash provided (used) by
 operating activities            292       16,276        7,147       28,884
                        ----------------------------------------------------

Investing activities
Short-term investments          (825)        (592)       2,251       (2,378)
Additions to property,
 plant and equipment          (1,730)     (12,077)      (7,721)     (19,791)
Additions to intangible
 assets                         (831)      (1,149)        (910)      (1,329)
Proceeds on disposal of
 property, plant and
 equipment, and
 intangible assets               220          122          399          272
Acquisition of non-
 controlling interest              -            -            -         (890)
Net change in other
 assets                          134        1,625          482          177
                        ----------------------------------------------------
Cash provided (used) by
 investing activities         (3,032)     (12,071)      (5,499)     (23,939)
                        ----------------------------------------------------

Financing activities
Dividends paid to
 Subordinate and
 Multiple Voting
 shareholders                 (1,632)      (1,583)      (6,584)      (6,753)
Dividends paid to non-
 controlling interest              -            -          (49)        (139)
Repurchase of shares            (572)        (367)        (926)      (2,738)
Short-term bank loans            337          115          331         (815)
Increase in long-term
 debt                          5,079       10,365        5,079       17,499
Repayment of long-term
 debt                           (581)      (3,206)      (5,904)      (9,122)
                        ----------------------------------------------------
Cash provided (used) by
 financing activities          2,631        5,324       (8,053)      (2,068)
                        ----------------------------------------------------

Effect of exchange rate
 differences on cash              (7)       1,127       (1,708)      (2,499)
                        ----------------------------------------------------

Net change in cash
 during the period              (116)      10,656       (8,113)         378

Net cash - Beginning of
 the period                   76,343       73,684       84,340       83,962
                        ----------------------------------------------------

Net cash - End of the
 period                       76,227       84,340       76,227       84,340
                        ----------------------------------------------------
                        ----------------------------------------------------

Net cash is composed of:
  Cash and cash
   equivalents                84,019       89,368       84,019       89,368
  Bank indebtedness           (7,792)      (5,028)      (7,792)      (5,028)
                        ----------------------------------------------------

                              76,227       84,340       76,227       84,340
                        ----------------------------------------------------
                        ----------------------------------------------------

Supplementary
 information
Interest received (paid)         353          432          641          532
Income taxes reimbursed
 (paid)                       (2,447)      (4,695)      (7,722)     (10,742)



Contacts:
VELAN Inc.
Yves Leduc
President and Chief Executive Officer
(514) 748-7743
(514) 748-8635 (FAX)

VELAN Inc.
John D. Ball
Chief Financial Officer
(514) 748-7743
(514) 748-8635 (FAX)
www.velan.com

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Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
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.
SYS-CON Events announced today that Loom Systems 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 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
SYS-CON Events announced today that DivvyCloud 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. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
SYS-CON Events announced today that Tintri, Inc, a leading provider of enterprise cloud infrastructure, 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. Tintri offers an enterprise cloud platform built with public cloud-like web services and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds – to build agile development environments...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze 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, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...