Welcome!

iPhone Authors: Liz McMillan, Elizabeth White, Pat Romanski, Carmen Gonzalez, Sematext Blog

News Feed Item

Majesco Entertainment Company Reports Fourth Quarter and Full Year Fiscal 2012 Financial Results

Fiscal 2012 Operating Income of $3.7 Million on Revenue of $132 Million

EDISON, NJ -- (Marketwire) -- 01/14/13 -- Majesco Entertainment Company (NASDAQ: COOL), an innovative provider of video games for the mass market, today reported financial results for the fourth quarter and full year ended October 31, 2012.

Fourth Quarter Results

For the fourth quarter ended October 31, 2012, Majesco's net revenues were $26.6 million, up 6 percent versus $25.1 million in the same period a year ago. During the fourth quarter of 2012, the Company reported an operating loss of $3.0 million, compared to an operating loss of $3.0 million in the fourth quarter of 2011. Net loss for the quarter was $2.7 million versus a net loss of $3.9 million in 2011. On a non-GAAP basis, net loss for the quarter was $2.7 million compared to a non-GAAP net loss of $2.7 million last year. Please refer to the Reconciliation of GAAP to Non-GAAP Financial Measures table included later in this release for additional information and details on non-GAAP items.

The Company's basic and diluted net loss per share for the quarter ended October 31, 2012 was $0.07, compared to a basic and diluted net loss per share of $0.10 in the same period last year. Non-GAAP diluted net loss per share for the quarter ended October 31, 2012 was $0.07 compared to a net loss per share of $0.07 last year. Please refer to the Reconciliation of GAAP to Non-GAAP Financial Measures table included later in this release for additional information and details on non-GAAP items.

Twelve Month Fiscal 2012 Results

For the twelve months ended October 31, 2012, the Company's net revenues increased 6 percent to $132.3 million versus the year ago period. The Company reported operating income of $3.7 million compared to $11.4 million of operating income in the same period a year ago. Non-GAAP operating income for the twelve month period was $5.4 million compared to non-GAAP operating income of $12.8 million for the comparable 2011 period. In the twelve months ended October 31, 2012, net income was $4.6 million compared to net income of $6.8 million for the twelve months ended October 31, 2011. Non-GAAP net income was $4.4 million in 2012 compared to non-GAAP net income of $11.1 million in 2011.

The Company's basic and diluted earnings per share for the twelve months ended October 31, 2012 was $0.12 and $0.11, respectively, compared to basic and diluted earnings per share of $0.18 and $0.17, respectively, for the corresponding period in 2011. The Company's non-GAAP diluted earnings per share for the twelve months ended October 31, 2012 was $0.10 compared to diluted non-GAAP net earnings per share of $0.28 in the corresponding 2011 period. Non-GAAP earnings per share of $0.10 for the twelve months of fiscal 2012 was lower than previously expected due to accelerated amortization and inventory write-off's related to lower than expected sales of NBA Baller Beats.

Management Commentary

"We met our revenue expectations in fiscal 2012 against the backdrop of weak industry-wide sales," said Jesse Sutton, Chief Executive Officer of Majesco. "The Zumba® Fitness franchise benefited from the release of Zumba® Fitness 2 in the first quarter, Zumba® Fitness Rush in the second quarter and Zumba® Fitness Core in the fourth quarter. Zumba is now firmly entrenched as the second bestselling fitness franchise ever with over 8 million units sold worldwide. We ended the year with $31.3 million in combined cash and availability from our factor and no long term debt."

"For fiscal 2013, we expect declining sales as our core products on legacy platforms decline, and we will be offering a smaller slate of new handheld and console titles than we introduced in fiscal 2012," Sutton added.

In order to better align operating costs with expected sales trends, the Company has implemented several initiatives to reduce fixed operating costs in favor of an outsourced, variable cost model. These initiatives include the closing of its social game development studio in Foxboro, Massachusetts, and reduction of game testing personnel in its New Jersey office. The Company plans to continue to develop mobile games through its production team in Southern California and the use of external development studios. In addition, the Company has eliminated certain marketing and support positions reflecting the planned reduction of its console game slate in fiscal 2013. The Company expects to record approximately $0.7 - $1.0 million in severance and other expenses related to this strategic realignment in the first quarter of fiscal 2013. These initiatives are expected to result in reduced operating expenses of approximately $1.5 - $2.0 million on an annual basis.

"Having successfully navigated through industry transitions and periods of uncertainty in the past, we believe it is prudent to preserve our financial resources as new platforms are deployed. We plan to continue to support our established franchises, look for opportunities to reach new audiences through mobile devices and position the Company to capitalize as new platforms grow and gain consumer acceptance. Our strong balance sheet and liquidity give us the resources to resume growth as industry dynamics become clear," concluded Sutton.

Fiscal 2013 Outlook

As a result of the weakness in demand for products on legacy console platforms and uncertainty around consumer adoption of the next generation of consoles, management is modifying its practice of providing quantitative fiscal year revenue and earnings guidance. Instead, for fiscal 2013, management is presenting a qualitative assessment of its outlook for financial results.

Based on early analysis of sell-through during the 2012 holiday season, management anticipates holiday sales will be at least 50% lower than last year. Given the Company's dependence on holiday sales, management anticipates revenue for fiscal 2013 will be significantly below fiscal 2012. Management expects to report between a modest non-GAAP EPS loss to breakeven for the first quarter of fiscal 2013 and a loss for the full year of fiscal 2013.

Announced Product Line-up

First Quarter Fiscal 2013 Ending January 31, 2013

To date, the Company has announced the following titles that were, or are expected to be, released during its fiscal first quarter 2013, which includes the recent holiday sales period:

  • Maestro Piccolo's Flea Symphony for iPhone, iPad and iPod Touch recently received the Editor's Choice Award from Apple. Flea Symphony turns players into mini maestros, conducting a tiny orchestra of fleas to create beautiful melodies with a range of instruments, including tuba cannons, guitar string launchers, and even turntables. Players must solve 100 levels of progressively complex musical puzzles through five imaginative music box worlds.
  • Monster High: Skultimate Roller Maze™ on Nintendo DS™ and Wii™ was released as part of a distribution agreement with Little Orbit that includes an additional Nintendo 3DS™ sku launching this March. Players can pick their favorite Monster High character and form a team of friends as they skate through the crypts of Monster High. Collect power-ups, avoid monstrous obstacles, scream past the competition and use each character's special ability and ghoul power to win the race.

Fiscal 2013

To date, the Company has announced the following titles that are expected to be released during the balance of fiscal 2013:

  • Young Justice: Legacy on Xbox 360® and PlayStation®3 launches this April as part of the Company's distribution agreement with Little Orbit. Based on WB's hit animated series airing on Cartoon Network, the game lets players assemble their Young Justice team from 12 heroes including NightWing, Kid Flash, Robin and more. Track down notorious villains and be mentored by powerful superheroes as you explore, customize and battle in this action-packed, RPG styled game.
  • Phineas and Ferb (working title) for retail consoles and gaming handhelds, including smartphones and tablets, is based on the animated hit Disney television series. Additional details will be announced shortly.
  • The next iteration of the best-selling Zumba® Fitness franchise that offers players a fun and effective at home workout solution. Specific product details to be announced.

The Company expects to announce additional details of its 2013 lineup in the coming months.

FISCAL 2013 RELEASE SCHEDULE


----------------------------------------------------------------------------
        Quarter 1                 Quarter 2                 Quarter 4
----------------------------------------------------------------------------
 Flea Symphony, iPhone,    Monster High Skultimate      Phineas and Ferb,
     iPad, iPod Touch         Roller Maze, 3DS           platforms to be
                                                            confirmed
----------------------------------------------------------------------------
 Monster High Skultimate   Young Justice: Legacy,    Zumba Fitness (working
   Roller Maze, DS, Wii    Xbox 360, PlayStation 3   title), platforms to be
                                                            confirmed
----------------------------------------------------------------------------

Conference Call

At 4:30 p.m. ET today, management will host an earnings conference call to discuss the fourth quarter results. To access the call in the U.S., please dial 1-800-860-2442. Please dial in approximately 10 minutes prior to the start of the conference call. The conference call will also be broadcast live over the Internet and available for replay for 90 days from the "Investor Info" section of the Company's website at http://ir.majescoentertainment.com. In addition, a replay of the call will be available via telephone for seven days beginning approximately one hour after the call. To listen to the telephone replay in the U.S., please dial 1-877-344-7529 and for international callers, dial 1-412-317-0088. Enter access code #10023438.

Generally Accepted Accounting Principles (GAAP) and Non-GAAP Metrics

To facilitate a comparison between the three and twelve months ended October 31, 2012 and 2011, the Company has presented both GAAP and non-GAAP financial results. GAAP financial measures, including operating income, net income, and basic and diluted earnings per share, have been adjusted to report certain non-GAAP financial measures.

These non-GAAP financial measures exclude the following items from the Company's consolidated statements of operations:

  • Expenses related to non-cash compensation
  • Net proceeds from sale of certain state income tax net operating loss carryforwards
  • Change in fair value of warrants
  • Severance costs for workforce reduction

These non-GAAP measures are provided to enhance investors' overall understanding of the Company's current financial performance and the Company's prospects for the future. These measures 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.

For more information on these non-GAAP financial measures, please see the tables in this release captioned "Reconciliation of GAAP and Non-GAAP Financial Measures."

About Majesco Entertainment Company

Majesco Entertainment Company is a provider of video games for the mass market. Building on more than 20 years of operating history, the company is focused on developing and publishing a wide range of casual and family oriented video games on all leading console and handheld platforms as well as mobile devices. Product highlights include Zumba® Fitness, Cooking MamaTM and NBA Baller Beats™. The company's shares are traded on the Nasdaq Stock Market under the symbol: COOL. Majesco is headquartered in Edison, NJ and has an office in Brockhampton, UK. More info can be found online at www.majescoent.com or on Twitter at www.twitter.com/majesco.

Safe Harbor

Some statements set forth in this release, including the estimates under the headings "Fiscal 2013 Outlook" contain forward-looking statements that are subject to change. Statements including words such as "anticipate," "believe," "estimate" or "expect" and statements in the future tense are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual events or actual future results to differ materially from the expectations set forth in the forward-looking statements. Some of the factors which could cause our results to differ materially from our expectations include the following: consumer demand for our products, the availability of an adequate supply of current-generation and next-generation gaming hardware, including but not limited to Nintendo's DS and Wii™ platforms; our ability to predict consumer preferences among competing hardware platforms; consumer spending trends; the seasonal and cyclical nature of the interactive game segment; timely development and release of our products; competition in the interactive entertainment industry; developments in the law regarding protection of our products; our ability to secure licenses to valuable entertainment properties on favorable terms; our ability to manage expenses; our ability to attract and retain key personnel; adoption of new accounting regulations and standards; adverse changes in the securities markets; our ability to comply with continued listing requirements of the Nasdaq stock exchange; the availability of and costs associated with sources of liquidity; and other factors described in our filings with the SEC, including our Annual Report on Form 10-K for the year ended October 31, 2012. The Company does not undertake, and specifically disclaim any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


                MAJESCO ENTERTAINMENT COMPANY AND SUBSIDIARY
                    UNAUDITED SUPPLEMENTARY PRODUCT DATA
             NET SALES BY PLATFORM FOR THREE AND TWELVE MONTHS
                         (Unaudited, in thousands)

                          Three Months Ended         Twelve Months Ended
                              October 31,                October 31,
                       ------------------------  --------------------------
                         2012   %     2011   %     2012    %     2011    %
                       ------- ---  ------- ---  -------- ---  -------- ---
Nintendo Wii           $13,867  52% $13,415  53% $ 79,014  60% $ 73,209  59%
Microsoft Xbox 360       8,383  32%   2,901  12%   34,874  26%   23,235  18%
Nintendo DS              3,601  14%   7,569  30%   13,743  10%   22,179  18%
Nintendo 3DS               284   1%       -   -%    1,736   1%        -   -%
Sony Playstation 3          76   0%     232   1%      885   1%    4,670   3%
Other                      351   1%   1,021   4%    2,035   2%    1,998   2%
                       ------- ---  ------- ---  -------- ---  -------- ---
TOTAL                  $26,562 100% $25,138 100% $132,287 100% $125,291 100%
                       ======= ===  ======= ===  ======== ===  ======== ===


                MAJESCO ENTERTAINMENT COMPANY AND SUBSIDIARY
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                    (In thousands, except share amounts)

                                                  October 31,   October 31,
                                                     2012          2011
                                                 ------------  ------------
                                                  (unaudited)
ASSETS
Current assets:
  Cash and cash equivalents                      $     18,038  $     13,689
  Due from factor, net                                 12,501           937
  Accounts and other receivables                        3,936         3,143
  Inventory                                             7,762        11,605
  Advance payments for inventory                          257         5,975
  Capitalized software development costs and
   license fees                                         3,489        12,564
  Prepaid expenses and other current assets             1,724         3,071
                                                 ------------  ------------
    Total current assets                               47,707        50,984
Property and equipment, net                             1,003         1,184
Other assets                                              588           209
                                                 ------------  ------------
    Total assets                                 $     49,298  $     52,377
                                                 ============  ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable and accrued expenses          $     15,490  $     20,313
  Inventory financing payables                              -         1,238
  Advances from customers and deferred revenue          4,454         5,642
  Warrant liability - current                              17             -
                                                 ------------  ------------
    Total current liabilities                          19,961        27,193
Warrant liability - noncurrent                              -         1,949
Commitments and contingencies
Stockholders' equity:
  Common stock -- $.001 par value; 250,000,000
   shares authorized; 41,862,321 and 41,307,349
   shares issued and outstanding at October 31,
   2012 and October 31, 2011, respectively                 42            41
  Additional paid-in capital                          120,755       119,222
  Accumulated deficit                                 (90,888)      (95,501)
  Accumulated other comprehensive loss                   (572)         (527)
                                                 ------------  ------------
    Net stockholders' equity                           29,337        23,235
                                                 ------------  ------------
    Total liabilities and stockholders' equity   $     49,298  $     52,377
                                                 ============  ============



                MAJESCO ENTERTAINMENT COMPANY AND SUBSIDIARY
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                      (In thousands, except share data)

                             Three Months Ended            Year Ended
                                 October 31,               October 31,
                          ------------------------  ------------------------
                              2012         2011         2012         2011
                          -----------  -----------  -----------  -----------
Net revenues              $    26,562  $    25,138  $   132,287  $   125,291
                          -----------  -----------  -----------  -----------
Cost of sales
  Product costs                11,155       12,258       46,718       54,939
  Software development
   costs and license fees      10,593        5,914       42,054       22,151
  Loss on impairment of
   software development
   costs and license fees
   - future releases                -        2,726            -        2,726
                          -----------  -----------  -----------  -----------
                               21,748       20,898       88,772       79,816
                          -----------  -----------  -----------  -----------
Gross profit                    4,814        4,240       43,515       45,475
                          -----------  -----------  -----------  -----------
Operating costs and
 expenses
  Product research and
   development                  1,894        1,773        7,784        6,992
  Selling and marketing         3,801        2,676       20,157       14,707
  General and
   administrative               1,989        2,567       10,077       10,506
  Depreciation and
   amortization                   118          175          566          398
  Loss on impairment of
   software development
   costs and license fees
   - cancelled games                -            -        1,219        1,512
                          -----------  -----------  -----------  -----------
                                7,802        7,191       39,803       34,115
                          -----------  -----------  -----------  -----------
Operating income (loss)        (2,988)      (2,951)       3,712       11,360
Other expenses (income)
  Interest and financing
   costs, net                     193          177          958        1,255
  Change in fair value of
   warrant liability             (346)         761       (1,932)       2,847
                          -----------  -----------  -----------  -----------
Income (loss) before
 income taxes                  (2,835)      (3,889)       4,686        7,258
  Income taxes                   (106)           5           73          426
                          -----------  -----------  -----------  -----------
Net income (loss)         $    (2,729) $    (3,894) $     4,613  $     6,832
                          ===========  ===========  ===========  ===========
Net income (loss) per
 share:
  Basic                   $     (0.07) $     (0.10) $      0.12  $      0.18
                          ===========  ===========  ===========  ===========
  Diluted                 $     (0.07) $     (0.10) $      0.11  $      0.17
                          ===========  ===========  ===========  ===========
Weighted average shares
 outstanding:
  Basic                    40,440,609   39,601,781   39,973,248   38,527,589
                          ===========  ===========  ===========  ===========
  Diluted                  40,440,609   39,601,781   40,823,197   40,123,968
                          ===========  ===========  ===========  ===========


                MAJESCO ENTERTAINMENT COMPANY AND SUBSIDIARY
                   CONSOLIDATED STATEMENTS OF CASH FLOWS
                               (In thousands)

                                                    Year Ended October 31
                                                 --------------------------
                                                     2012          2011
                                                 ------------  ------------
CASH FLOWS FROM OPERATING ACTIVITIES
Net income                                       $      4,613  $      6,832
Adjustments to reconcile net income (loss) to
 net cash provided by (used in) operating
 activities:
  Depreciation and amortization                           565           398
  Change in fair value of warrant liability            (1,932)        2,847
  Non-cash compensation expense                         1,686         1,468
  Loss on disposal of assets                                -             -
  Provision for price protection and customer
   allowances                                           4,324         3,928
  Amortization of capitalized software
   development costs and license fees                  17,363         6,204
  Loss on impairment of software development
   costs and license fees                               1,219         4,238
  Impairment of Goodwill                                   54             -
  Provision for excess inventory                        1,515         1,794
  Changes in operating assets and liabilities,
   net of acquisition:
    Due from factor                                   (15,888)       (2,997)
    Accounts and other receivables, net                  (830)       (3,223)
    Inventory                                           2,328        (4,981)
    Capitalized software development costs and
     license fees                                      (9,441)      (18,064)
    Advance payments for inventory                      5,678          (521)
    Prepaid expenses and other assets                     845        (1,918)
    Accounts payable and accrued expenses              (4,868)        8,752
    Customer billings due to distribution
     partner                                                -             -
    Advances from customers and deferred revenue       (1,139)        4,660
                                                 ------------  ------------
      Net cash provided by operating activities         6,092         9,417
                                                 ------------  ------------
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment                      (338)         (465)
Purchase of assets of Quick Hit, Inc., net of
 acquired cash                                              -          (779)
                                                 ------------  ------------
    Net cash used in investing activities                (338)       (1,244)
                                                 ------------  ------------
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of options and warrants              9         1,830
Income tax withholding from exercise of options
 and warrants                                            (161)            -
Inventory financing                                    (1,238)       (4,319)
                                                 ------------  ------------
    Net cash used in financing activities              (1,390)       (2,489)
                                                 ------------  ------------
Effect of exchange rates on cash and cash
 equivalents                                              (15)            1
                                                 ------------  ------------
Net increase in cash and cash equivalents               4,349         5,685
Cash and cash equivalents -- beginning of year         13,689         8,004
                                                 ------------  ------------
Cash and cash equivalents -- end of year         $     18,038  $     13,689
                                                 ============  ============
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the year for interest and
 financing costs                                 $        870  $      1,255
                                                 ============  ============
Cash paid during the year for income taxes       $        591  $          3
                                                 ============  ============
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND
 FINANCING ACTIVITIES
Leased assets                                    $         46  $        163
                                                 ============  ============
Warrant liability reclassified to additional
 paid-in capital upon exercise                   $          -  $      1,042
                                                 ============  ============
Issuance of warrants for license fees            $          -  $         58
                                                 ============  ============



                MAJESCO ENTERTAINMENT COMPANY AND SUBSIDIARY
            RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
               (Unaudited, in thousands, except share amounts)

                             Three Months Ended            Year Ended
                                 October 31,               October 31,
                          ------------------------  ------------------------
                              2012         2011         2012         2011
                          -----------  -----------  -----------  -----------
GAAP operating income
 (loss)                   $    (2,988) $    (2,951) $     3,712  $    11,360
Non-cash compensation (1)         385          405        1,686        1,468
                          -----------  -----------  -----------  -----------
Non-GAAP operating income
 (loss)                   $    (2,603) $    (2,546) $     5,398  $    12,828
                          ===========  ===========  ===========  ===========

GAAP net income (loss)    $    (2,729) $    (3,894) $     4,613  $     6,832
Non-cash compensation (1)         385          405        1,686        1,468
Change in fair value of
 warrants (2)                    (346)         761       (1,932)       2,847
                          -----------  -----------  -----------  -----------
Non-GAAP net income
 (loss)                   $    (2,690) $    (2,728) $     4,367  $    11,147
                          ===========  ===========  ===========  ===========

GAAP net income (loss)
 per diluted share        $     (0.07) $     (0.10) $      0.11  $      0.17
Non-cash compensation (1)        0.01         0.01         0.04         0.04
Change in fair value of
 warrants (2)                   (0.01)        0.02        (0.05)        0.07
                          -----------  -----------  -----------  -----------
Non-GAAP net income per
 diluted share            $     (0.07) $     (0.07) $      0.10  $      0.28
                          ===========  ===========  ===========  ===========
Shares used in GAAP and
 Non-GAAP per diluted
 share amounts             40,440,609   39,601,781   40,823,197   40,123,968
                          ===========  ===========  ===========  ===========

(1) Represents expenses recorded for stock compensation expense. The Company does not consider stock-based compensation charges when evaluating business performance and management does not consider stock-based compensation expense in evaluating its short and long-term operating plans.

(2) Represents the change in the fair value of warrants classified as a liability. The fair value of the warrants is calculated at each balance sheet date with a corresponding charge or credit to earnings for the amount of the change in fair value.

More Stories By Marketwired .

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

@ThingsExpo Stories
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immediate and actionable interpretation of events as they happen. Another aspect concerns how to deliver ...
SYS-CON Events announced today that MangoApps 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., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and easy to use. MangoApps has been named a "Market Leader" by Ovum Research and a "Cool Vendor" by Gartner...
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on Twitter at @MicroservicesE
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
So I guess we’ve officially entered a new era of lean and mean. I say this with the announcement of Ubuntu Snappy Core, “designed for lightweight cloud container hosts running Docker and for smart devices,” according to Canonical. “Snappy Ubuntu Core is the smallest Ubuntu available, designed for security and efficiency in devices or on the cloud.” This first version of Snappy Ubuntu Core features secure app containment and Docker 1.6 (1.5 in main release), is available on public clouds, and for ARM and x86 devices on several IoT boards. It’s a Trend! This announcement comes just as...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
The WebRTC Summit 2015 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
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...
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
In his session at WebRTC Summit, Peter Dunkley, Technical Director at Acision, will look at creating interactive communications via the web by adding messaging, file transfer, and group communication (group chat and audio/video conferencing) into the web experience. He will also discuss potential applications of this technology in areas including B2B, B2C, P2P, and gaming. Peter Dunkley is Technical Director at Acision. He graduated from The University of Edinburgh in 2000 with a BSc (Hons) in Computer Science. After graduation Peter worked on a PSTN switch developing signalling stacks for SS...
It's time to put the "Thing" back in IoT. Whether it’s drones, robots, self-driving cars, ... There are multiple incredible examples of the power of IoT nowadays that are shadowed by announcements of yet another twist on statistics, databases, .... Sorry, I meant, Big Data(TM), tiered storage(TM), complex systems(TM), smart nations(TM), .... In his session at WebRTC Summit, Dr Alex Gouaillard, CTO and Co-Founder of Temasys, will discuss the concrete, cool, examples of IoT already happening today, and how mixing all those different sources of visual and audio input can make your life happier ...
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to offer disruptive APIs to developers.
SYS-CON Events announced today that Site24x7, the cloud infrastructure monitoring service, 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. Site24x7 is a cloud infrastructure monitoring service that helps monitor the uptime and performance of websites, online applications, servers, mobile websites and custom APIs. The monitoring is done from 50+ locations across the world and from various wireless carriers, thus providing a global perspective of the end-user experience. Site24x7 supports monitoring H...
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Telecommunications Corporation, a facilities-based international carrier licensed by t...
We heard for many years how developing nations would be able to develop mobile-phone networks quickly, perhaps even leapfrog developed nations, because their lack of traditional, wired networks would not inhibit them from deploying the new technology. Now there is talk of history repeating itself with the Industrial Internet--a key aspect of the emerging Internet of Things. For example, Guo Ping, Deputy Chairman of the Board of Chinese electronics giant Huawei, said in a recent report from the World Economic Forum, "The Industrial Internet will afford emerging markets a unique opportunity ...
Recent technology advances in miniaturization has positioned the wearables as the pinnacle of technology convergence with the human body. We inquire if wearables are mere standard miniaturized devices extended with the connectivity and present our views on considerations like design, applications, performance, efficiency, interoperability, usage scenarios, human device interaction and consequent trade-offs enabling wearables to impart optimal value.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...