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Tarena International, Inc. Announces Second Quarter 2014 Results

-- Second Quarter Net Revenues Increased by 53.4% Year-Over-Year, Exceeding Guidance

BEIJING, Aug. 19, 2014 /PRNewswire/ -- Tarena International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of professional education services in China today announced its unaudited financial results for the second quarter ended June 30, 2014.

Second Quarter 2014 Highlights

  • Net revenues increased by 53.4% year-over-year to US$31.9 million from US$20.8 million in the same period in 2013, exceeding the high end of the Company's previous guidance of US$30.5 million to US$31.5 million.
  • Gross profit increased by 60.0% year-over-year to US$22.7million from US$14.2 million in the same period in 2013. Gross margin increased to 71.2% as compared to 68.2% in the same period in 2013.
  • Operating income increased by 95.4% year-over-year to US$3.6 million from US$1.9 million in the same period in 2013. Operating margin increased to 11.4% as compared to8.9% in the same period in 2013.
  • Non-GAAP operating income, which excluded share-based compensation expenses, increased by 149.9% year-over-year to US$5.1 million from US$2.0 million in the same period in 2013. Non-GAAP operating margin increased to 15.9% as compared to 9.8% in the same period in 2013.
  • Net income increased by 204.5% year-over-year to US$5.7 million from US$1.9 million in the same period in 2013.
  • Non-GAAP net income, which excluded share-based compensation expenses, increased by 249.1% year-over-year to US$7.2 million from US$2.1 million in the same period in 2013.
  • Cash, cash equivalents and time deposits totaled US$151.5 million as of June 30, 2014, compared to US$38.3 million as of December 31, 2013.
  • Deferred revenue totaled US$20.0 million as of June 30, 2014, compared to US$15.5 million as of December 31, 2013.
  • Total student enrollments in the second quarter of 2014 increased by 35.6% year-over-year to 15,377.
  • Total number of learning centers increased to 103 as of June 30, 2014, from 97 as of March 31, 2014.

"I am delighted to report that we achieved an excellent quarter with record revenue and profit," said Mr. Shaoyun Han, Tarena's Chairman and Chief Executive Officer. "Revenue growth was again driven by increase in student enrollments and higher average revenue per student. Our digital art course continued its tremendous growth to remain as our second largest course by student enrollments in the second quarter of 2014. Our online sales and marketing course, which only launched in the fourth quarter of 2013, also experienced strong growth and has already become our fourth largest course, behind Java, digital art and C++. Such strong enrollment results further validated our differentiated education platform, as well as our strategy to diversify our course offerings and revenues by expanding into other high growth disciplines."

"More importantly, we achieved significant year-over-year improvements in gross margin and operating margin and delivered even stronger growth in operating income. We will continue to execute on our objective and priority for 2014 in improving our center efficiency and utilization to drive sustainable growth in both revenue and profit, "continued Mr. Han.

"In the second quarter of 2014, the Chinese State Council issued 'The Decision to Accelerate Modern Vocational Education' in order to encourage the further development of the professional education market and to bridge the structural gap between the demand for and supply of skilled workforce. The number of college graduates in China has risen to a record high of 7.3 million in 2014 and the employment market is becoming increasingly competitive. As a leading professional education service provider with premium brand and reputation, Tarena is well positioned to capture the opportunities presented by this favorable market environment to drive our future growth." Mr. Han concluded.

Mr. Suhai Ji, Tarena's Chief Financial Officer, added, "In addition to our solid top line results, we are pleased to see continued strong margin improvement in the second quarter of 2014 as gross margin increased by 300 basis points year-over-year to 71.2%and non-GAAP operating margin increased by 610 basis points year-over-year to 15.9%. We are delivering on the objective we set at the beginning of the year to drive margin expansion in 2014. In the coming quarters, we will remain focused on optimizing our learning center utilization and improving key operating metrics to generate both growth and profitability."

Second Quarter 2014 Results

Net Revenues

Net revenues increased by 53.4% to US$31.9 million in the second quarter of 2014, from US$20.8 million in the same period in 2013. The increase was primarily due to increased student enrollments and higher average revenue per student, as defined by net revenues divided by student enrollment.

Total student enrollments in the second quarter of 2014 increased by 35.6% to 15,377 from 11,341 in the same period in 2013, which was driven mainly by the number and the popularity of our course offerings. The number of our course offerings increased from 9to 11 in the second quarter year-over-year while the number of our learning centers increased from 76 to 103 in the same period year-over-year to cater to the increased demand for our courses.

Average revenue per student in the second quarter of 2014 increased by 13.1% to US$2,089 from US$1,847 in the same period in 2013. The growth in average revenue per student was mainly driven by the increase of standard tuition fees for our courses and the higher percentage of retail channel in our student enrollment channel mix. Beginning in the second quarter of 2014, we raised the standard tuition fees on some of our courses by RMB1,000 (US$163) per course. While we typically charge students enrolled through the retail channel the standard tuition fee, we generally offer students enrolled through the university channel a discount of approximately RMB4,000 (US$650) per person per course. Our student enrollment mix from retail and university channel was 81%/19% and 72%/28% in the second quarter of 2014 and 2013, respectively.

Cost of Revenues

Cost of revenues increased by 39.2% to US$9.2 million in the second quarter of 2014, from US$6.6 million in the same period in 2013. The increase was mainly due to higher rental cost resulting from increased number of learning centers and expansion of existing learning centers, higher personnel cost and welfare expenses resulting from increased number of teaching and advisory staff at our learning centers and higher average salary, as well as higher depreciation expenses for our learning centers.

Gross Profit and Gross Margin

Gross profit increased by 60.0% to US$22.7 million in the second quarter of 2014, from US$14.2 million in the same period in 2013. Gross margin increased to 71.2% in the second quarter of 2014 from 68.2% in the same period in 2013.The improvement in gross margin was mainly due to increased operational scale and efficiency for our learning centers. Personnel cost and welfare expenses decreased to 10.7% of total net revenues in the second quarter of 2014, from 12.9% in the same period in 2013. Rental expenses decreased to 8.8% of total net revenues in the second quarter of 2014, from 9.5% in the same period in 2013.

Operating Expenses

Total operating expenses increased by 54.6% to US$19.1 million in the second quarter of 2014, from US$12.4 million in the same period in 2013 as a result of increases in our selling and marketing, general and administrative and research and development expenses. Total non-GAAP operating expenses, which excluded share-based compensation expenses, increased by 45.1%to US$17.7 million in the second quarter of 2014, from US$12.2 million in the same period in 2013. Total share-based compensation expenses allocated to the related operating expenses increased by 728.9% to US$1.4 million in the second quarter of 2014, from US$0.2 million in the same period in 2013.

Selling and marketing expenses increased by 34.3% to US$10.3 million in the second quarter of 2014, from US$7.7 million in the same period in 2013. The increase was due to higher personnel cost and welfare expenses related to the growth in our selling and marketing headcount and higher average salary, and expanded marketing efforts primarily as a result of increased spending on advertising as we expanded our network of learning centers. Selling and marketing expenses in the second quarter of 2014 accounted for 32.2% of the total net revenues, compared to 36.8% in the same period in 2013.Advertising and marketing expenses in the second quarter of 2014 accounted for 13.1% of the total net revenues, compared to 16.7% in the same period in 2013.

General and administrative expenses increased by 101.8% to US$7.4 million in the second quarter of 2014, from US$3.7 million in the same period in 2013. The increase was mainly due to higher compensation cost for our increased number of general and administrative personnel to support our growing operations, higher bad debt allowance, higher share-based compensation expenses, and to a lesser extent, higher professional expenses. General and administrative expenses in the second quarter of 2014 accounted for 23.3% of the total net revenues, compared to17.7% in the same period in 2013. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 74.1% to US$6.2 million, from US$3.5 million in the same period in 2013. Non-GAAP general and administrative expenses in the second quarter of 2014 accounted for 19.3% of total net revenues, compared to 17.0% in the same period in 2013.

Research and development expenses increased by 37.1% to US$1.4 million in the second quarter of 2014, from US$1.0 million in the same period in 2013. The increase was mainly due to higher personnel cost and welfare expenses of our instructors allocated to their content development activities for our courses. Research and development expenses in the second quarter of 2014 accounted for 4.3% of total net revenues, compared to 4.8% in the same period in 2013.

Operating Income

Operating income increased by 95.4% to US$3.6 million in the second quarter of 2014, from US$1.9 million in the same period in 2013. Operating margin increased to 11.4%in the second quarter of 2014 as compared to8.9% in the same period in 2013.Non-GAAP operating income, which excluded share-based compensation expenses, increased by 149.9% to US$5.1 million in the second quarter of 2014, from US$2.0 million in the same period in 2013. Non-GAAP operating margin increased to 15.9% in the second quarter of 2014 as compared to 9.8% in the same period in 2013.

Interest Income, Net

Net interest income was US$1.0 million in the second quarter of 2014, compared to US$0.5 million in the same period in 2013. Interest income in both periods consisted of interest earned on our cash and time deposits in commercial banks and interest income recognized in relation to our installment payment plan for students. The increase in net interest income was primarily due to higher deposit levels resulting from the Company's IPO proceeds in April 2014.

Foreign Exchange Gain/Loss

Foreign exchange gain was US$0.8 million in the second quarter of 2014, compared with a loss of US$0.1 million in the same period in 2013. The increase was primarily attributable to the appreciation of China's RMB against U.S. dollar when a significant portion of the Company's IPO proceeds was converted into RMB and placed in bank deposits.

Other Income

Other income in the second quarter of 2014 was US$1.0 million, consisting of US$0.8 million in government grant and US$0.2 million in investment income, compared to almost nil in the same period in 2013. The increase was attributable to government grants of RMB5 million received in the second quarter of 2014 and the investment income of short-term wealth management products purchased in the second quarter of 2014.

Income Tax Expense

Income tax expense was US$0.7 million in the second quarter of 2014, compared to US$0.4 million in the same period in 2013.The increase was mainly due to higher taxable income, partially offset by a decrease in the effective income tax rate to 10.5% in the second quarter of 2014 from 17.8% in the same period in 2013.The decrease in the effective income tax rate was primarily due to a tax holiday of a two-year full exemption from 2014 to 2015 followed by a three-year 50% exemption from 2016 to 2018 entitled by one of our wholly owned subsidiaries which is qualified as a "Newly Established Software Enterprise" under the PRC Enterprise Income Tax Law.

Net Income

As a result of the foregoing, net income increased by 204.5% to US$5.7 million in the second quarter of 2014, from US$1.9 million in the same period in 2013. Non-GAAP net income, which excluded share-based compensation expenses, increased by 249.1% year-over-year to US$7.2 million from US$2.1 million in the same period in 2013.

Business Outlook

Based on the Company's current estimates, total net revenues for the third quarter of 2014 are expected to be between US$38.5 million and US$39.5 million, representing an increase of 35.1% to 38.6% on a year-over-year basis. The Company also expects its total net revenues for the full year of 2014 to be between US$134.5 million and US$136.0 million, representing an increase of 44.9% to 46.6% on a year-over-year basis.

This guidance is based on the current market conditions and reflects the Company's current and preliminary estimates of market and operating conditions, which are subject to change.

Conference Call

The Company will host a conference call and live webcast to discuss its financial results for the second quarter of 2014 ended June 30, 2014 at 9:00 p.m. Eastern Time on August 19, 2014 (9:00 a.m. Beijing time on August 20, 2014).

The dial-in details for the live conference call are as follows:

United States:

855 298 3404

International:

+1 631 514 2526

Hong Kong:

800 905 927

United Kingdom:

800 015 9725

China Mainland:

400 120 0539

Conference ID:

1002021

A replay of the call will be available approximately 2 hours after the conclusion of the conference call through August 26, 2014. The dial-in details for the replay are:

U.S. Toll Free:

866 846 0868

International:

+1 800 008 585

Conference ID:                

1002021

Additionally, a live and archived webcast of this call will be available on the Investor Relations section of Tarena's website at http://ir.tarena.com.cn.

Safe Harbor Statement

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Tarena may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including the business outlook for the second quarter of 2014 and statements about Tarena's beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Tarena's goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually tailor its curriculum to market demand and enhance its courses to adequately and promptly respond to developments in the professional job market; its ability to maintain or enhance its brand recognition, its ability to maintain high job placement rate for its students, and its ability to maintain cooperative relationships with financing service providers for student loans. Further information regarding these and other risks, uncertainties or factors is included in Tarena's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tarena does not undertake any obligation to update such information, except as required under applicable law.

About Tarena International, Inc.

Tarena International, Inc. (Nasdaq: TEDU) is a leading provider of professional education services in China. The Company is the largest provider of IT professional education services in China with a market share of 8.3% as measured by revenues in 2013 according to IDC, a third-party research firm. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers courses in nine IT subjects and two non-IT subjects. Its courses provide students with practical education to prepare them for jobs in industries with significant growth potential and strong hiring demand. Since its inception in 2002, Tarena has trained over 155,000 students, cooperated with more than 500 universities and colleges and placed students with approximately 45,000 corporate employers in a variety of industries. For further information, please visit http://ir.tarena.com.cn.

About Non-GAAP Financial Measures

To supplement Tarena's consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Tarena's management uses non-GAAP measures of cost of revenues, operating expenses, operating income, net income, and net income per share, which are adjusted from results based on GAAP to exclude the share-based compensation expenses.

Our non-GAAP financial information provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses that may not be indicative of its operating performance from a cash perspective. These non-GAAP financial information should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. In addition, calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited.

A limitation of using non-GAAP cost of revenues, operating expenses, operating income and net income is that the share-based compensation charge has been and will continue to be a significant recurring expense in the Company's business for the foreseeable future. In order to mitigate these limitations the Company has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between GAAP financial measures that are most directly comparable to the non-GAAP financial measures the Company has presented.

For further information, please contact:

Christina Zhu
Investor Relations
Tarena International Inc.
Tel: +8610 56219451
Email: [email protected]

 


TARENA INTERNATIONAL, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS






As of



June 30



December 31



2014



2013



US$



US$








ASSETS







Current assets:







Cash and cash equivalents



49,609,069



26,139,255

Time deposits



92,101,664



Accounts receivable, net of allowance for doubtful accounts



18,946,361



15,001,222

Prepaid expenses and other current assets



6,018,695



3,497,332

Deferred income tax assets



1,565,763



1,546,213

Total current assets



168,241,552



46,184,022

Time deposits



9,769,175



12,161,617

Accounts receivable, net of allowance for doubtful accounts



640,752



415,881

Property and equipment, net



13,156,747



12,805,567

Other non-current assets



1,797,879



2,105,832

Total assets



193,606,105



73,672,919








LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS'DEFICIT














Current liabilities:







Accounts payable



114,612



217,451

Income taxes payable



3,228,072



3,012,165

Deferred revenue



20,043,271



15,487,494

Accrued expenses and other current liabilities



7,941,867



6,617,558

Total current liabilities



31,327,822



25,334,668

Other non-current liabilities



241,342



243,555

Total liabilities



31,569,164



25,578,223








Commitments and contingencies





Mezzanine equity:







Series A convertible redeemable preferred shares





419,776

Series B convertible redeemable preferred shares





15,747,869

Series C convertible redeemable preferred shares





95,211,135

Total mezzanine equity





111,378,780








Shareholders' equity (deficit):







Ordinary shares



50,657



12,226

Additional paid-in capital



219,076,654



Accumulated other comprehensive income



1,227,420



1,634,920

Accumulated deficit



(58,317,790)



(64,931,230)

Total shareholders' equity (deficit)



162,036,941



(63,284,084)

Total liabilities, mezzanine equity and shareholders' equity (deficit)



193,606,105



73,672,919








 

TARENA INTERNATIONAL, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME








For the Three Months Ended June 30


For the Six Months Ended June 30




2014



2013


2014

2013




US$



US$


US$

US$


Net revenues



31,942,301




20,825,503



56,280,750


 

35,967,104


Cost of revenues(a)



(9,211,736)




(6,615,820)



(17,796,655)


 

(12,629,313)


Gross profit



22,730,565




14,209,683



38,484,095


23,337,791


Selling and marketing expenses(a)



(10,299,493)




(7,670,643)



(19,127,123)


 

(13,188,783)


General and administrative expenses(a)



(7,432,800)




(3,683,816)



(13,190,817)


 

(6,863,215)


Research and development expenses(a)



(1,366,025)




(996,117)



(2,510,837)


 

(1,623,240)


Operating income



3,632,247




1,859,107



3,655,318


1,662,553


Interest income



1,006,550




512,093



1,465,869


 

804,932


Foreign exchange gain(loss)



794,996




(119,937)



877,096


 

(161,338)


Other income



973,929




37,620



1,446,772


 

38,337


Income before income taxes



6,407,722




2,288,883



7,445,055


2,344,484


Income tax expense



(675,919)




(406,789)



(750,343)


 

(416,499)


Net income



5,731,803




1,882,094



6,694,712


1,927,985


Accretion of convertible redeemable preferred shares



(18,920)




(506,956)



(576,431)


(991,103)


Net income attributable to ordinary shareholders(b)



5,712,883




1,375,138



6,118,281


936,882
















Net income(loss) per share(c):














Basic



0.11




0.04



0.14


0.02


Diluted



0.10




0.02



0.11


0.02


Weighted average number of  ordinary shares outstanding:














Basic



49,812,756




10,851,287



31,123,486


10,851,287


Diluted



56,839,519




16,483,830



38,045,512


15,915,680






























Net income



5,731,803




1,882,094



6,694,712


1,927,985


Other comprehensive income (loss)














Foreign currency translation adjustment, net of nil income taxes



10,323




455,325



(407,500)


528,643


Comprehensive income



5,742,126




2,337,419



6,287,212


2,456,628
















Notes:














(a) Includes share-based compensation expense as follows:













For the Three Months Ended June 30


For the Six Months Ended June 30





2014




2013



2014


2013





US$




US$



US$


US$


Cost of revenues



24,770




4,295



33,174


8,590


Selling and marketing expenses



69,635




11,308



100,525


22,616


General and administrative expenses



1,278,008




149,263



1,679,952


298,527


Research and development expenses



82,743




12,003



117,744


24,006



(b) The net income (loss) attributable to ordinary shareholders reflected the impact of non-cash accounting charges relating to the preferred shares. All outstanding preferred shares were automatically converted into ordinary shares upon the completion of the Company's IPO on April 3, 2014. Thereafter, there will be no accretion to the preferred shares and all net income will be attributable to the ordinary shareholders.


(c) The Company uses the two-class method to calculate basic and diluted earnings per share. Under the two-class method, when calculating the basic and dilutive EPS, net income attributable to ordinary shareholders is adjusted to reflect the net income which is allocated to preferred shares.


 

TARENA INTERNATIONAL, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES








For the Three Months Ended June 30


For the Six Months Ended June 30



2014



2013


2014



2013



US$



US$


US$




US$

GAAP Cost of revenues



9,211,736




6,615,820



17,796,655




12,629,313

Share-based compensation expense in cost of revenues



24,770




4,295



33,174




8,590

Non-GAAP cost of revenues



9,186,966




6,611,525



17,763,481




12,620,723
















GAAP Selling and marketing expenses



10,299,493




7,670,643



19,127,123




13,188,783

Share-based compensation expense in selling and marketing expenses



69,635




11,308



100,525




22,616

Non-GAAP selling and marketing expenses



10,229,858




7,659,335



19,026,598




13,166,167
















GAAP General and administrative expenses



7,432,800




3,683,816



13,190,817




6,863,215

Share-based compensation expense in general and administrative expenses



1,278,008




149,263



1,679,952




298,527

Non-GAAP general and administrative expenses



6,154,792




3,534,553



11,510,865




6,564,688
















GAAP Research and development expenses



1,366,025




996,117



2,510,837




1,623,240

Share-based compensation expense in research and development expenses



82,743




12,003



117,744




24,006

Non-GAAP research and development expenses



1,283,282




984,114



2,393,093




1,599,234
















Operating income



3,632,247




1,859,107



3,655,318




1,662,553

Share-based compensation expenses



1,455,156




176,869



1,931,395




353,739

Non-GAAP operating income



5,087,403




2,035,976



5,586,713




2,016,292
















Net income



5,731,803




1,882,094



6,694,712




1,927,985

Share-based compensation expense



1,455,156




176,869



1,931,395




353,739

Non-GAAP net income



7,186,959




2,058,963



8,626,107




2,281,724

Accretion of convertible redeemable preferred shares



(18,920)




(506,956)



(576,431)




(991,103)

Non-GAAP net income attributable to ordinary shareholders



7,168,039




1,552,007



8,049,676




1,290,621
















Non-GAAP net income per share(a)















Basic



0.14




0.04



0.18




0.03

Diluted



0.12




0.03



0.15




0.02

Weighted average number of ordinary shares outstanding used in calculating Non-GAAP net income per share(b)















Basic



49,812,756




10,851,287



31,123,486




10,851,287

   Diluted



56,839,519




16,483,830



38,045,512




15,915,680
















Notes:

(a) The Company uses the two-class method to calculate basic and diluted earnings per share. Under the two-class method, when calculating the basic and dilutive EPS, net income attributable to ordinary shareholders is adjusted to reflect the net income which is allocated to preferred shares.

(b) The Non-GAAP net income(loss) per share is computed using Non-GAAP net income(loss) attributable to ordinary shareholders and the same number of ordinary shares used in GAAP basic and diluted net income(loss) per share calculation.

 

 

SOURCE Tarena International, Inc.

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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.
“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.
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...
"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.

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...

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 ...