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AVG Reports Second Quarter 2014 Financial Results

Subscription revenue increases 12%; Non-GAAP diluted EPS is $0.47; Net cash flow from operating activities is $22.3 million.

AMSTERDAM and SAN FRANCISCO, July 30, 2014 /PRNewswire/ -- AVG Technologies N.V. (NYSE: AVG), the online security company with 182 million active users and 85 million mobile users, today reported results for the second quarter ended June 30, 2014.

Total revenue for the second quarter of 2014 was $88.0 million. Subscription revenue increased 12% over the same period one year ago to $68.2 million. Platform-derived revenue decreased 50% over the same period one year ago to $19.8 million as a result of changes to the search business that were communicated over the past several quarters.

Non-GAAP adjusted net income for the second quarter of 2014 was $24.7 million, or $0.47 per diluted ordinary share.1

GAAP net income for the second quarter of 2014 was $13.7 million, or $0.26 per diluted ordinary share. 

Non-GAAP free cash flow was $19.1 million and net cash flow from operating activities was $22.3 million for the second quarter of 2014. The Company closed the second quarter with cash of $45.1 million and no debt. 

"I am pleased with our continued execution against our long term strategy toward becoming the online security company," commented Gary Kovacs, CEO of AVG. "We remain focused on the roll out of the AVG Zen platform, developing new applications to better serve customers, and building industry leading partnerships across mobile ecosystem players and consumer electronic OEMs. Our mobile user count continued to grow, reaching 85 million at the end of the quarter. I am particularly proud of the work we have done to strengthen our partnership with Yahoo! as this relationship is a strategic priority. These types of partnerships are key to driving further progress in the second half of 2014 and to delivering growth in 2015 and beyond," concluded Kovacs.

Financial Outlook

Based on information available as of July 30, 2014, AVG is updating its outlook for fiscal year 2014 as follows:

  • Revenue is expected to be at the low end of the original range of $365 million to $405 million.
  • Non-GAAP diluted EPS is expected to be in the middle of the range of $1.80 to $2.10.
  • GAAP diluted EPS is expected to be in the middle of the range of $1.00 to $1.30.

Non-GAAP diluted EPS excludes share-based compensation expense, acquisition amortization, rationalization and other charges, and an adjustment to normalize to a tax rate of 12.5%. Non-GAAP diluted EPS and diluted EPS are based on an estimate of approximately 53.5 million weighted-average diluted ordinary shares outstanding during 2014.

Conference Call Information

AVG will hold its quarterly conference call today at 23:00 CET/5:00 p.m. ET/2:00 p.m. PT to discuss its second quarter 2014 financial results, business highlights and outlook.  The conference call may be accessed via webcast at http://investors.avg.com or by calling (888) 438-5519 (U.S. and Canada) or +1 (719) 325-2215 (International).

A replay of the webcast can be accessed via http://investors.avg.com.  Additionally, an audio replay of the conference call will be available by calling (888) 203-1112 (U.S. and Canada) or +1 (719) 457-0820 (International) and entering passcode: 2290282#

Use of Non-GAAP Financial Information

This press release contains supplemental non-GAAP financial measures that are not calculated in accordance with U.S. GAAP.  These non-GAAP measures provide additional information on the performance or liquidity of our business and so we believe are useful for investors.

Adjusted net income, free cash flow and their related ratios are non-GAAP measures and should not be considered alternatives to the applicable U.S. GAAP measures.  In particular, adjusted net income and free cash flow, and their related ratios, should not be considered as measurements of our financial performance or liquidity under U.S. GAAP, as alternatives to income, operating income or any other performance measures derived in accordance with U.S. GAAP or as alternatives to cash flow from operating activities as a measure of our liquidity.

Adjusted net income and free cash flow are measures of financial performance and liquidity, respectively, and have limitations as analytical tools, and should not be considered in isolation from, or as substitutes for, analysis of our results of operations, including our operating income and cash flows, as reported under U.S. GAAP.  We provide these non-GAAP financial measures because we believe that such measures provide important supplemental information to management and investors about the Company's core operating results and liquidity, primarily because the non-GAAP financial measures exclude certain expenses and other amounts that management does not consider to be indicative of the Company's core operating results or business outlook or liquidity.  Management uses these non-GAAP financial measures, in addition to the corresponding U.S. GAAP financial measures, in evaluating the Company's operating performance, in planning and forecasting future periods, in making decisions regarding business operations and allocation of resources, and in comparing the Company's performance against its historical performance.  Some of the limitations of adjusted net income and free cash flow and their related ratios as measures are:

  • they do not reflect our cash expenditure or future requirements for capital expenditure or contractual commitments, nor do they reflect the actual cash contributions received from customers;
  • they do not reflect changes in, or cash requirements for, our working capital needs;
  • although amortization and share-based compensation are non-cash charges, the assets being amortized will often have to be replaced in the future and such measures do not reflect any cash requirements for such replacements; and
  • other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures

Because of these limitations, investors should rely on AVG's consolidated financial statements prepared in accordance with U.S. GAAP and treat the Company's non-GAAP financial measures as supplemental information only.

For a reconciliation of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with U.S. GAAP, please see "Reconciliation of GAAP to non-GAAP financial measures".  All non-GAAP financial measures should be read in conjunction with the comparable information presented in accordance with U.S. GAAP.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those relating to an expected range of revenue, diluted EPS, and non-GAAP diluted EPS for fiscal year 2014, as well as those relating to the future prospects of AVG.  Words such as "expects," "expectation," "intends," "assumes," "believes" and "estimates," variations of such words and similar expressions are also intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated herein. Factors that could cause or contribute to such differences include but are not limited to: changes in international and national tax regulations and related proposals; changes in the Company's growth strategies; changes in the Company's future prospects, business development, results of operations and financial condition; changes to the online and computer threat environment and the endpoint security industry; competition from local and international companies, new entrants in the market and changes to the competitive landscape; the adoption of new, or changes to existing, laws and regulations; flaws in the assumptions underlying the calculation of the Company's key metrics, including  the number of the Company's active users and mobile users, revenue per average active user; the potential effects of changes in the applicable search guidelines of our search partners, including the Company's and its competitors' responses to these changes; the termination of or changes to the Company's relationships with its partners, including Google, Yahoo! and other third parties; changes in the Company's and its partners' responses to privacy concerns; the ability for the Company to successfully diversify its portfolio of search partners; the Company's plans to launch new products and online services and monetize its full user base; the performance of new products, such as AVG Zen; the Company's ability to attract and retain active and subscription users; the Company's ability to retain key personnel and attract new talent; the Company's ability to adequately protect its intellectual property; flaws in the Company's internal controls or IT systems; the Company's geographic expansion plans; the anticipated costs and benefits of the Company's acquisitions; the outcome of ongoing or any future litigation or arbitration, including litigation or arbitration relating to intellectual property rights; the Company's legal and regulatory compliance efforts; and worldwide economic conditions and their impact on demand for the Company's products and services.  Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements.

Further information on these factors and other risks that may affect the Company's business is included in filings AVG makes with the U.S. Securities and Exchange Commission (SEC) from time to time, including its Annual Report on Form 20-F, particularly under the heading "Risk Factors".

The financial information contained in this press release should be read in conjunction with the consolidated financial statements and notes thereto to be included in the Company's reports on Form 6-K and Form 20-F.  The Company's results of operations for the second quarter, ended June 30, 2014 are not necessarily indicative of the Company's operating results for any future periods.

These documents are available online from the SEC or in the Investor Relations section of the Company's website at http://investors.avg.com.  Information on the AVG website is not part of this release.  All forward-looking statements in this press release are based on information currently available to the Company, and AVG assumes no obligation to update these forward-looking statements in light of new information or future events.

About AVG

AVG is the online security company providing leading software and services to secure devices, data and people. AVG has 182 million active users as of June 30, 2014, using AVG's products and services including Internet security, performance optimization, and personal privacy and identity protection. By choosing AVG's products, users become part of a trusted global community that engages directly with AVG to provide feedback and offer mutual support to other customers.

All trademarks are the property of their respective owners.

1 Non-GAAP results for the second quarter of 2014 exclude $3.1 million in share based compensation expense, $4.3 million in acquisition amortization and $0.7 million in restructuring, legal and other charges, together with a $2.8 million adjustment to normalize to a tax rate of 12.5%, as described in the Reconciliation of GAAP measures to non-GAAP measures.


AVG Technologies N.V.

Unaudited condensed consolidated balance sheets

(in thousands of U.S. dollars)



December 31,


June 30,



2013


2014


ASSETS



Current assets:







Cash and cash equivalents

$

42,349


$

45,097


Restricted cash


4,654



5,300


Trade accounts receivable, net


26,160



21,927


Inventories


1,017



723


Deferred income taxes


25,058



24,599


Prepaid expenses 


5,927



7,246


Other current assets


5,416



3,102


Total current assets


110,581



107,994


Property and equipment, net


15,294



14,162


Deferred income taxes


33,820



27,222


Intangible assets, net


59,577



50,661


Goodwill


84,843



84,887


Investment


160



160


Other assets


2,507



1,553


Total assets

$

306,782


$

286,639









LIABILITIES AND SHAREHOLDERS' EQUITY







Current liabilities:







Accounts payable

$

11,356


$

6,048


Accrued compensation and benefits


18,245



12,793


Accrued expenses and other current liabilities


31,569



32,246


Income taxes payable


4,680



5,479


Deferred tax liabilities


163



334


Deferred revenue


164,136



163,933


Total current liabilities


230,149



220,833


Long-term debt


30,000



-


Deferred revenue, less current portion


33,050



32,127


Deferred tax liabilities


342



-


Other non-current liabilities


4,075



3,482


Total liabilities


297,616



256,442









Ordinary shares


727



727


Distributions in excess of capital


(128,809)



(125,253)


Treasury shares


(33,179)



(46,816)


Accumulated other comprehensive loss


(8,343)



(8,859)


Retained earnings


178,770



210,398


Total shareholders' equity


9,166



30,197


Total liabilities and shareholders' equity

$

306,782


$

286,639









 

AVG Technologies N.V.


Unaudited condensed consolidated statements of comprehensive income


(in thousands of U.S. dollars, except for share data and per share data)








Three months ended


Six months ended



June 30,


June 30,



2013


2014


2013


2014


Revenue:









Subscription

$

61,000


$

68,225


$

117,579


$

135,515


Platform-derived


39,381



19,784



87,528



46,040


Total revenue


100,381



88,009



205,107



181,555


Cost of revenue:













Subscription


(6,220)



(8,934)



(13,649)



(17,045)


Platform-derived


(9,537)



(3,535)



(16,214)



(8,936)


Total cost of revenue


(15,757)



(12,469)



(29,863)



(25,981)


Gross profit


84,624



75,540



175,244



155,574


Operating expenses:













Research and development


(14,145)



(15,823)



(28,791)



(32,270)


Sales and marketing


(23,147)



(22,550)



(46,566)



(45,032)


General and administrative


(15,516)



(16,757)



(35,773)



(33,133)


Total operating expenses


(52,808)



(55,130)



(111,130)



(110,435)


Operating income


31,816



20,410



64,114



45,139


Other expense, net


(4,512)



(392)



(6,598)



(449)


Income before income taxes and loss from investment in equity affiliate


27,304



20,018



57,516



44,690


Income tax provision


(5,614)



(6,333)



(11,384)



(13,062)


Net income

$

21,690


$

13,685


$

46,132


$

31,628


Comprehensive income

$

22,999


$

13,873


$

46,060


$

31,112















Earnings per share:













Net income

$

21,690


$

13,685


$

46,132


$

31,628


Net income available to ordinary shareholders - basic

$

21,690


$

13,685


$

46,132


$

31,628


Net income available to ordinary shareholders - diluted

$

21,690


$

13,685


$

46,132


$

31,628


Earnings per ordinary share – basic

$

0.40


$

0.26


$

0.85


$

0.60


Earnings per ordinary share – diluted

$

0.39


$

0.26


$

0.84


$

0.60


Weighted-average shares outstanding – basic


54,487,750



52,407,636



54,257,788



52,777,085


Weighted-average shares outstanding – diluted


54,949,534



52,744,420



54,788,767



53,112,758




























 

AVG Technologies N.V.


Unaudited condensed consolidated statements of cash flows


(in thousands of U.S. dollars)





Three months ended

Six months ended



June 30,

June 30,



2013


2014


2013


2014


OPERATING ACTIVITIES:













Net income

$

21,690


$

13,685


$

46,132


$

31,628


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













Depreciation and amortization 


5,362



7,973



10,461



15,726


Share-based compensation


1,593



3,123



5,226



5,935


Deferred income taxes


(1,234)



2,389



566



7,009


Change in the fair value of contingent consideration liabilities


172



92



987



183


Amortization of financing costs and loan discount


2,856



64



3,845



126


Loss (gain) on sale of property and equipment


(41)



(50)



(76)



(39)


Net change in assets and liabilities, excluding effects of acquisitions and deferred revenue


13,048



(4,188)



10,402



(4,664)


Net change in deferred revenue


716



(795)



9,886



(899)


Net cash provided by operating activities


44,162



22,293



87,429



55,005


INVESTING ACTIVITIES:













Purchase of property and equipment and intangible assets


(4,083)



(3,195)



(7,821)



(5,912)


Proceeds from sale of property and equipment


75



57



128



218


Cash payments for acquisitions, net of cash acquired


(23,330)



-



(26,195)



-


Proceeds from sale of investment 


9,750



-



9,750



-


Decrease (increase) in restricted cash


(3,775)



1,704



(4,587)



175


Net cash used in investing activities


(21,363)



(1,434)



(28,725)



(5,519)


FINANCING ACTIVITIES:













Payment of contingent consideration


(50)



-



(225)



-


Proceeds of credit agreement 


75,000



-



75,000



-


Debt issuance costs


(774)



-



(774)



-


Repayments of principal on current credit agreement


(8,333)



(5,000)



(8,333)



(30,000)


Repayments of principal on former credit facility


(77,807)



-



(100,863)



-


Proceeds from exercise of share options


1,709



1,145



1,908



1,858


Repurchases of share rights and options from employees


(6)



-



(2,906)



(1,460)


Repurchase of own shares


(1,509)



(8,175)



(1,509)



(16,422)


Net cash used in financing activities


(11,770)



(12,030)



(37,702)



(46,024)


Effect of exchange rate fluctuations on cash and cash equivalents


(102)



(99)



(1,180)



(714)


Change in cash and cash equivalents


10,927



8,730



19,822



2,748


Beginning cash and cash equivalents


60,785



36,367



51,890



42,349


Ending cash and cash equivalents

$

71,712


$

45,097


$

71,712


$

45,097















Income taxes paid

$

(2,889)


$

(3,071)


$

(4,659)


$

(5,345)


Interest paid

$

(655)


$

(102)


$

(2,690)


$

(381)




























 

AVG Technologies N.V.


Reconciliation of GAAP measures to non-GAAP measures


(in thousands of U.S. dollars)





Three months ended


Six months ended



June 30,


June 30,



2013


2014


2013


2014


Gross profit

$

84,624


$

75,540


$

175,244


$

155,574


Add back:













- Share-based compensation


27



11



25



14


- Acquisition amortization(1)


1,352



2,737



2,615



5,394


- Other adjustments(2)


-



-



(7)



-


Non-GAAP adjusted gross profit

$

86,003


$

78,288


$

177,877


$

160,982


Revenue


100,381



88,009



205,107



181,555


Non-GAAP adjusted gross profit margin


86%



89%



87%



89%















Operating expenses

$

(52,808)


$

(55,130)


$

(111,130)


$

(110,435)


Less:













- Share-based compensation


1,566



3,112



5,201



5,921


- Acquisition amortization(1)


973



1,606



1,993



3,212


- Other adjustments(2)


338



747



1,208



3,314


Non-GAAP adjusted operating expenses

$

(49,931)


$

(49,665)


$

(102,728)


$

(97,988)















Operating income

$

31,816


$

20,410


$

64,114


$

45,139


Add back:













- Share-based compensation


1,593



3,123



5,226



5,935


- Acquisition amortization(1)


2,325



4,343



4,608



8,606


- Other adjustments(2)


338



747



1,201



3,314


Non-GAAP adjusted operating income

$

36,072


$

28,623


$

75,149


$

62,994


Revenue


100,381



88,009



205,107



181,555


Non-GAAP adjusted operating income margin


36%



33%



37%



35%















Other expense, net

$

(4,512)


$

(392)


$

(6,598)


$

(449)


Less:













- Other adjustments(2)


2,643



-



2,643



-


Non-GAAP adjusted other expense, net

$

(1,869)


$

(392)


$

(3,955)


$

(449)




























 

AVG Technologies N.V.


Reconciliation of GAAP measures to non-GAAP measures


(in thousands of U.S. dollars)





Three months ended


Six months ended



June 30,


June 30,



2013


2014


2013


2014


Net income

$

21,690


$

13,685


$

46,132


$

31,628


Add back:













- Share-based compensation


1,593



3,123



5,226



5,935


- Acquisition amortization(1)


2,325



4,343



4,608



8,606


- Other adjustments(2)


2,981



747



3,844



3,314


- Provision (Benefit) for income taxes


5,614



6,333



11,384



13,062


Non-GAAP adjusted profit before taxes

$

34,203


$

28,231


$

71,194


$

62,545


Less: Estimated provision for income taxes(3)


(4,788)



(3,529)



(9,967)



(7,818)


Non-GAAP adjusted net income


29,415



24,702



61,227



54,727















Weighted-average shares outstanding - diluted (in thousands)


54,950



52,744



54,789



53,113


Non-GAAP adjusted net income


29,415



24,702



61,227



54,727


Non-GAAP diluted EPS

$

0.54


$

0.47


$

1.12


$

1.03



































December 31,

June 30,









2013


2014


Cash and cash equivalents







$

42,349


$

45,097


Long-term debt








(30,000)



-


Net cash







$

12,349


$

45,097





























Three months ended


Six months ended



June 30,


June 30,



2013


2014


2013


2014


Net cash provided by operating activities

$

44,162


$

22,293


$

87,429


$

55,005


Less: Payments for property and equipment and intangible assets


(4,083)



(3,195)



(7,821)



(5,912)


Free cash flow

$

40,079


$

19,098


$

79,608


$

49,093





























Three months ended


Six months ended



June 30,


June 30,



2013


2014


2013


2014


Revenue

$

100,381


$

88,009


$

205,107


$

181,555


Free cash flow


40,079



19,098



79,608



49,093


Cash conversion


40%



22%



39%



27%




























 

AVG Technologies N.V.


Reconciliation of GAAP measures to non-GAAP measures


(in thousands of U.S. dollars, except for users, active users


and revenue per average active user data)









Twelve months ended









June 30,









2013


2014


Total revenue (trailing 12 months)







$

395,565


$

383,561


Active users at period end (in millions)(4)








155



182


Average active users (in millions)(5)








142



169


Twelve months trailing revenue per average active user







$

2.79


$

2.27




























Share-based compensation


(in thousands of U.S. dollars)



Three months ended


Six months ended



June 30,


June 30,



2013


2014


2013


2014


Cost of revenue

$

(27)


$

(11)


$

(25)


$

(14)


Research and development


(180)



(453)



(252)



(796)


Sales and marketing


(798)



(247)



(556)



(507)


General and administrative


(588)



(2,412)



(4,393)



(4,618)


Share-based compensation

$

(1,593)


$

(3,123)


$

(5,226)


$

(5,935)




























Acquisition amortization


(in thousands of U.S. dollars)



Three months ended


Six months ended



June 30,


June 30,



2013


2014


2013


2014


Cost of revenue

$

(1,352)


$

(2,737)


$

(2,615)


$

(5,394)


Research and development


(5)



(175)



(8)



(350)


Sales and marketing


(968)



(1,431)



(1,985)



(2,862)


Acquisition amortization

$

(2,325)


$

(4,343)


$

(4,608)


$

(8,606)




























Other adjustments


(in thousands of U.S. dollars)



Three months ended


Six months ended



June 30,


June 30,



2013


2014


2013


2014


Cost of revenue

$

-


$

-


$

7


$

-


Research and development


(296)



(449)



(435)



(1,270)


Sales and marketing


(32)



(267)



(631)



(382)


General and administrative


(10)



(31)



(142)



(1,662)


Other expenses, net


(2,643)



-



(2,643)



-


Other adjustments

$

(2,981)


$

(747)


$

(3,844)


$

(3,314)




























 

(1)

Includes amortization of acquired intangible assets.



(2)

Other adjustments between GAAP and non-GAAP measures in the three and six months ended June 30, 2014 comprise of $0 and $1.4 million respectively in charges associated with litigation settlements, $0.4 and $1.2 million respectively in acquisition related charges primarily relating to the PrivacyChoice integration and $0.3 and $0.7 million respectively in charges associated with the rationalization of the Company's global operations.  Other adjustments between GAAP and non-GAAP measures in the three and six months ended June 30, 2013 comprise of $0.3 million and $0.3 million respectively in acquisition related charges primarily relating to the PrivacyChoice integration, $0 million and $0.9 million respectively in charges associated with the rationalization of the Company's global operations and of $2.6 million of accelerated deferred financing costs due to the full voluntary repayment of the long term debt in the second quarter of 2013.



(3)

Adjusted for impact of normalized tax rate of 12.5% in the three months and six months ended June 30, 2014 and 14% for the 3 and six months ended June 30, 2013. The normalized tax of 12.5% is based on an estimate of our future cash tax rate as well as our recent cash and income statement tax charges.



(4)

Active users are those that (i) have downloaded and installed our free software on a PC and have connected to our server at least twice, including at least once in the preceding 30-day period, (ii) represent a unique mobile device, which has installed one or more of our mobile applications, from which at least one application has contacted our server twice in the preceding 30-day period (with at least 24 hours between the first and second contact), (iii) have a valid subscription license for our software solutions or (iv) represent a unique device using our secure search solution that has made at least one secure search in the preceding 30-day period.



(5)

The number of average active users is calculated as the simple average of active users at the beginning of a period and the end of a period.

SOURCE AVG Technologies N.V.

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The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...