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Almost Family Reports Fourth Quarter and Full Year 2012 Results

LOUISVILLE, Ky., Feb. 27, 2013 /PRNewswire/ -- Almost Family, Inc. (Nasdaq: AFAM), a leading regional provider of home health nursing and personal care services, announced today its financial results for the three months and full year ended December 31, 2012.

Fourth Quarter Highlights:

  • Net service revenues of $87 million for the quarter
  • Net income was $3.7 million, or $0.40 per diluted share
  • Diluted EPS includes $0.02 for the impact of Hurricane Sandy, excluding which diluted EPS would have been $0.42
  • Visiting Nurse segment net revenues were $67 million, on 1% admission growth overall

Full Year Highlights:

  • Net service revenues were $349 million
  • Net income was $17 million, or $1.85 per diluted share
  • Visiting Nurse segment net revenues were $271 million, on 2% admission growth overall
  • Personal Care segment net revenues grew to $77 million from a combination of the Cambridge acquisition and 5% organic volume growth

Comments on Results
William Yarmuth, Chief Executive Officer, commented on the results: "All things considered, we emerge from 2012 pleased with the progress we've made and the position we're in to capitalize on our future opportunities.  We weathered storms, both literally and figuratively, that have had an impact on our quarterly operating results.  We continued to make progress in our Florida operations while dealing with the ramifications of Medicare Advantage plan changes in our northern operations."

"Looking at the year as a whole, we weathered our second straight year of Medicare rate cuts in the neighborhood of 5% and, with a keen eye on cost controls, managed to offset a meaningful portion of those cuts.  Despite all this, we increased shareholder value by paying a $2 per share special dividend at the end of December without compromising our financial capability to pursue the opportunities we see coming our way.  We enter 2013 in a very strong position with one of the strongest balance sheets in the industry."

Fourth Quarter Financial Results
Almost Family reported fourth quarter results that included the impact of the 2012 Medicare reimbursement rate cut in the Visiting Nurse (VN) segment.  The Medicare rate cuts reduced revenue and operating income by $3.0 million and earnings per diluted share by $0.20. A change in certain Medicare Advantage contracts we chose to renew that pay on a per visit versus episodic basis reduced revenue by $0.7 million and earnings per diluted share by $0.03.  While total VN admissions increased approximately 1%, Medicare episodic admissions declined approximately 2% primarily as a result of those Medicare Advantage plans switching from episodic to per visit payment models. Admissions in 2011 included approximately 300 Medicare Advantage admissions under a contract that was terminated when payment switched from episodic to per visit.

Approximately 25% of our VN segment and 20% of our PC segment operations are located in the northeastern U.S. (New Jersey, Connecticut and Massachusetts), areas impacted by Hurricane Sandy which struck in late October 2012.  Earnings per share for the fourth quarter were reduced by $0.02 as a result of business disruptions due to Hurricane Sandy primarily in our New Jersey and Connecticut markets.

Net service revenues for the fourth quarter were $86.6 million, a 3% decrease from $89.3 million reported in the fourth quarter of 2011, primarily as a result of the VN segment's Medicare rate cut. 

Net income for the fourth quarter of 2012 was $3.7 million, or $0.40 per diluted share, down from fourth quarter of 2011 net income of $5.3 million, or $0.57 per diluted share.

The effective tax rate for the fourth quarter of 2012 increased to 40.1% from 38.0% for the fourth quarter of 2011, primarily as a result of the shift of earnings to states with higher tax rates and the absence of tax credits.

Fourth Quarter Segment Results
VN segment fourth quarter results include the unfavorable impact of the Medicare rate cuts as well as the change of certain Medicare Advantage payors to per visit reimbursement.  As a result, VN segment fourth quarter net service revenues declined 4% to $67.3 million, from $69.8 million in the fourth quarter of 2011, while operating income before corporate expenses for the fourth quarter of 2012 declined to $8.7 million from $10.7 million reported for the fourth quarter of 2011.  Total admissions grew 1%, substantially all organic.  Sequential VN segment sales force expansion decreased EPS by $0.03.

Personal Care (PC) segment net service revenues declined slightly to $19.3 million in the fourth quarter of 2012 from $19.5 million in 2011, due to a 4% decline in volumes which was partially offset by higher rates per hour.  Operating income before unallocated corporate expenses decreased 25% or $0.8 million to $2.4 million in the fourth quarter of 2012 due to a combination of lower volumes and wage increases.

Full Year Ended December 31, 2012
Almost Family reported full year results that included: i) the favorable impact of a full year of operations from our Cambridge acquisition, which closed in early August of 2011, ii) the unfavorable impact of the 2012 Medicare reimbursement rate cut and iii) the unfavorable impact of the change of certain Medicare Advantage payors to per visit reimbursement for contracts we chose to renew, which lowered EPS by $0.06.  The Medicare rate cuts reduced revenue and operating income by $12.3 million and earnings per diluted share by $0.80.

Net income for 2012 was $17.3 million, or $1.85 per diluted share, down from 2011 net income of $20.8 million, or $2.22 per diluted share.  Fees and expenses related to governmental inquiries did not impact 2012, while lowering 2011 EPS by approximately $0.08.  Deal costs lowered both 2012 and 2011 EPS by approximately $0.03 and $0.04, respectively.

Full Year Segment Results
Net service revenues in the VN segment for 2012 declined to $271.5 million, a 4.3% decrease from $283.6 million in 2011, after the effect of the previously mentioned Medicare rate cut.  Total admissions grew 2%, of which all was organic. 

Operating income before corporate expenses in the VN segment for 2012 was $39.4 million, a $6.3 million decrease from $45.7 million reported for 2011, primarily as a result of the impact of the Medicare rate cut, the shift of certain Medicare Advantage contracts we chose to renew to per visit reimbursement and a $0.9 million increase in bad debt provision, which were partially offset by a focused effort to reduce labor costs relative to patients served.

Primarily as a result of our Cambridge acquisition, net service revenues in the PC segment for 2012 grew 37% or $20.8 million to $77.0 million from $56.3 million 2011.  As a result, operating income before unallocated corporate expenses in the PC segment increased 16% to $10.0 million from $8.7 million 2011. 

Conference Call
A conference call to review the results will begin at 11:00 a.m. ET on February 27, 2013, and will be hosted by William Yarmuth, Chief Executive Officer, and Steve Guenthner, President and Principal Financial Officer. To participate in the conference call, please dial 1-877-407-4018 (USA) or 1-201-689-8471 (International).  In addition, a dial-up replay of the conference call will be available beginning February 27, 2013 at 2:00 p.m. ET and ending on March 13, 2013. The replay telephone number is 1-877-870-5176 (USA) or 1-858-384-5517 (International). Passcode 409361.  A live Web cast of the call will also be available from the Investor Relations section of the corporate Web site at http://www.almostfamily.com. A Web cast replay can be accessed on the corporate Web site beginning February 27, 2013 at approximately 2:00 p.m. ET and will remain available until March 27, 2013.

Almost Family, Inc.                       

Steve Guenthner

(502) 891-1000

 

The Ruth Group

Investor Relations

Nick Laudico/Zack Kubow

(646) 536-7030/7020

[email protected]

[email protected]

 


 ALMOST FAMILY, INC. AND SUBSIDIARIES 

 CONSOLIDATED STATEMENTS OF INCOME 

 (UNAUDITED) 

 (In thousands, except per share data) 










 Three Months Ended December 31, 


 Year Ended December 31, 


2012


2011


2012


2011

 Net service revenues 

$            86,554


$            89,331


$          348,524


$          339,853

 Cost of service revenues (excluding
      depreciation & amortization) 

45,252


45,126


180,824


167,066

 Gross margin 

41,302


44,205


167,700


172,787

 General and administrative expenses: 







 Salaries and benefits 

24,793


24,744


98,441


97,526

 Other 

10,305


10,869


40,715


40,700

 Total general and administrative
     expenses 

35,098


35,613


139,156


138,226

 Operating income 

6,204


8,592


28,544


34,561

 Interest expense, net 

(17)


(39)


(104)


(180)

 Income before income taxes 

6,187


8,553


28,440


34,381

 Income tax expense 

(2,482)


(3,248)


(11,156)


(13,579)

 Net income 

$              3,705


$              5,305


$            17,284


$            20,802









 Per share amounts-basic: 








 Average shares outstanding 

9,280


9,296


9,285


9,278

 Net income 

$                0.40


$                0.57


$                1.86


$                2.24









 Per share amounts-diluted: 








 Average shares outstanding 

9,313


9,328


9,324


9,360

 Net income 

$                0.40


$                0.57


$                1.85


$                2.22









 


 

 ALMOST FAMILY, INC. AND SUBSIDIARIES 

 CONSOLIDATED BALANCE SHEETS 

 (In thousands) 




December 31, 2012



 ASSETS 


(UNAUDITED)


December 31, 2011

 CURRENT ASSETS: 





 Cash and cash equivalents  


$                        26,120


$                    33,693

 Accounts receivable - net 


49,971


45,166

 Prepaid expenses and other current assets 


7,021


6,221

 Deferred tax assets 


6,580


7,470

 TOTAL CURRENT ASSETS 


89,692


92,550






 PROPERTY AND EQUIPMENT - NET 


5,401


5,229

 GOODWILL 


133,418


132,653

 OTHER INTANGIBLE ASSETS 


19,967


19,709

 OTHER ASSETS 


781


1,019



$                      249,259


$                  251,160






 LIABILITIES AND STOCKHOLDERS' EQUITY 





 CURRENT LIABILITIES: 





 Accounts payable 


$                          4,599


$                      6,489

 Accrued other liabilities 


21,874


21,467

 Current portion - capital leases and notes payable 


625


1,200

 TOTAL CURRENT LIABILITIES 


27,098


29,156






 LONG-TERM LIABILITIES: 





 Notes payable 


500


1,125

 Deferred tax liabilities 


16,785


13,630

 Other liabilities 


561


952

 TOTAL LONG-TERM LIABILITIES 


17,846


15,707

 TOTAL LIABILITIES 


44,944


44,863






 STOCKHOLDERS' EQUITY: 





 Preferred stock, par value $0.05; authorized 





 2,000 shares; none issued or outstanding 


-


-

 Common stock, par value $0.10; authorized 





 25,000; 9,421 and 9,381 





 issued and outstanding 


942


938

 Treasury stock, at cost, 91 and 13 shares 


(2,320)


(431)

 Additional paid-in capital 


101,945


100,678

 Retained earnings 


103,748


105,112

 TOTAL STOCKHOLDERS' EQUITY 


204,315


206,297



$                      249,259


$                  251,160






 


 ALMOST FAMILY, INC. AND SUBSIDIARIES 

 CONSOLIDATED STATEMENTS OF CASH FLOWS 

 (UNAUDITED) 

 (In thousands) 


 Year Ended December 31, 


2012


2011

 Cash flows from operating activities: 




 Net income  

$                 17,284


$                 20,802

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




 Depreciation and amortization 

2,578


2,816

 Provision for uncollectible accounts 

2,825


2,355

 Stock-based compensation 

1,473


1,422

 Deferred income taxes 

3,753


4,371


27,913


31,766

 Change in certain net assets and liabilities, net of the effects of acquisitions: 




 (Increase) decrease in:  




 Accounts receivable 

(8,228)


(1,641)

 Prepaid expenses and other current assets 

(1,137)


633

 Other assets 

236


252

 (Decrease) increase in: 




 Accounts payable and accrued expenses 

(1,751)


(5,075)

 Net cash provided by operating activities 

17,033


25,935





 Cash flows from investing activities: 




 Capital expenditures 

(2,487)


(2,890)

 Acquisitions, net of cash acquired 

(538)


(38,064)

 Net cash used in investing activities 

(3,025)


(40,954)





 Cash flows from financing activities: 




 Proceeds from exercise of stock options 

70


288

 Purchase of common stock in connection with share awards 

(1,889)


(440)

 Tax benefit from stock-based compensation 

-


1,614

 Payment of special dividend 

(18,562)


-

 Principal payments on notes payable 

(1,200)


(693)

 Net cash used in financing activities 

(21,581)


769





 Net change in cash and cash equivalents 

(7,573)


(14,250)

 Cash and cash equivalents at beginning of period 

33,693


47,943

 Cash and cash equivalents at end of period 

$                26,120


$                33,693





 Summary of non-cash investing and financing activities: 




 Settlement of Directors Deferred Compensation Plan 

$                          -


$                     501

 Acquisitions funded by notes payable 

$                          -


$                  1,000

 Dividends declared, not paid 

$                        86


$                          -





 



 ALMOST FAMILY, INC. AND SUBSIDIARIES 

 RESULTS OF OPERATIONS 

 (UNAUDITED) 

 (In thousands) 



 Three Months Ended December 31, 


2012


2011


 Change 


 Amount 

 % Rev 


 Amount 

 % Rev 


 Amount 

%

Net service revenues:









 Visiting Nurse 

$        67,279

77.7%


$        69,801

78.1%


$        (2,522)

-3.6%

 Personal Care 

19,275

22.3%


19,530

21.9%


(255)

-1.3%


86,554

100.0%


89,331

100.0%


(2,777)

-3.1%

Operating income before corporate

expenses:









Visiting Nurse 

8,726

13.0%


10,740

15.4%


(2,014)

-18.8%

 Personal Care 

2,446

12.7%


3,264

16.7%


(818)

-25.1%


11,172

12.9%


14,004

15.7%


(2,832)

-20.2%

Corporate expenses

4,968

5.7%


5,412

6.1%


(444)

-8.2%

Operating income

6,204

7.2%


8,592

9.6%


(2,388)

-27.8%

Interest expense, net

(17)

0.0%


(39)

0.0%


22

-56.4%

Income tax expense

(2,482)

-2.9%


(3,248)

-3.6%


766

-23.6%

Net income

$          3,705

4.3%


$          5,305

5.9%


$        (1,600)

-30.2%










EBITDA

$          7,217

8.3%


$          9,621

10.8%


$        (2,404)

-25.0%












 ALMOST FAMILY, INC. AND SUBSIDIARIES 

 RESULTS OF OPERATIONS 

 (UNAUDITED) 

 (In thousands) 



 Year Ended December 31, 


2012


2011


 Change 


 Amount 

 % Rev 


 Amount 

 % Rev 


 Amount 

%

Net service revenues:









 Visiting Nurse 

$      271,477

77.9%


$      283,596

83.4%


$      (12,119)

-4.3%

 Personal Care 

77,047

22.1%


56,257

16.6%


20,790

37.0%


348,524

100.0%


339,853

100.0%


8,671

2.6%

Operating income before corporate expenses:









 Visiting Nurse 

39,424

14.5%


45,744

16.1%


(6,320)

-13.8%

 Personal Care 

10,029

13.0%


8,682

15.4%


1,347

15.5%


49,453

14.2%


54,426

16.0%


(4,973)

-9.1%

Corporate expenses

20,909

6.0%


19,865

5.8%


1,044

5.3%

Operating income

28,544

8.2%


34,561

10.2%


(6,017)

-17.4%

Interest expense, net

(104)

0.0%


(180)

-0.1%


76

-42.2%

Income tax expense

(11,156)

-3.2%


(13,579)

-4.0%


2,423

-17.8%

Net income

$        17,284

5.0%


$        20,802

6.1%


$        (3,518)

-16.9%










EBITDA

$        32,595

9.4%


$        38,799

11.4%


$        (6,204)

-16.0%



















 


ALMOST FAMILY, INC. AND SUBSIDIARIES

VISITING NURSE SEGMENT OPERATING METRICS











Three Months Ended December 31,


2012


2011


Change


Amount

% Rev


Amount

% Rev


Amount

%

Average number of locations

106



106



-

0.0%










All payors:









Patients months

54,251



53,446



805

1.5%

Admissions

15,770



15,611



159

1.0%

Billable visits

474,340



475,097



(757)

-0.2%










Medicare Statistics (1):









Revenue (in thousands)

$       60,396

89.8%


$      64,393

92.3%


$   (3,997)

-6.2%

Billable visits

384,806



400,718



(15,912)

-4.0%

Admissions

13,668



13,995



(327)

-2.3%

Recertifications

7,994



8,238



(244)

-3.0%

Episodes completed

21,184



21,845



(661)

-3.0%










Revenue per completed episode

$         2,882



$        2,996



$      (114)

-3.8%

Visits per episode

17.8



18.2



(0.4)

-2.2%










(1)  Episodic data which includes Medicare Advantage plans that pay episodically






















PERSONAL CARE OPERATING METRICS











Three Months Ended December 31,


2012



2011



Change


Amount



Amount



Amount

%

Average number of locations

61



60



1

1.7%










Admissions

1,072



1,019



53

5.2%

Patient months of care

17,280



17,091



189

1.1%

Patient days of care

263,854



255,581



8,273

3.2%

Billable hours

1,044,996



1,093,408



(48,412)

-4.4%

Revenue per billable hour

$         18.44



$        17.86



$       0.58

3.2%










 

ALMOST FAMILY, INC. AND SUBSIDIARIES

VISITING NURSE SEGMENT OPERATING METRICS











Year Ended December 30,


2012


2011


Change


Amount

% Rev


Amount

% Rev


Amount

%

Average number of locations

108



98



10

10.2%










All payors:









Patients months

217,563



215,342



2,221

1.0%

Admissions

63,164



61,775



1,389

2.2%

Billable visits

1,890,103



1,935,967



(45,864)

-2.4%










Medicare Statistics (1):









Revenue (in thousands)

$     246,329

90.7%


$    261,960

92.4%


$  (15,631)

-6.0%

Billable visits

1,544,958



1,616,288



(71,330)

-4.4%

Admissions

55,369



56,007



(638)

-1.1%

Recertifications

31,862



32,549



(687)

-2.1%

Episodes completed

86,686



87,533



(847)

-1.0%










Revenue per completed episode

$         2,850



$        3,002



$       (152)

-5.1%

Visits per episode

17.5



18.1



(0.6)

-3.3%










(1)  Episodic data which includes Medicare Advantage plans that pay episodically






















PERSONAL CARE OPERATING METRICS











Year Ended December 30,


2012



2011



Change


Amount



Amount



Amount

%

Average number of locations

60



30



30

100.0%










Admissions

4,319



3,262



1,057

32.4%

Patient months of care

69,304



53,802



15,502

28.8%

Patient days of care

1,017,530



755,002



262,528

34.8%

Billable hours

4,202,386



3,120,715



1,081,671

34.7%

Revenue per billable hour

$         18.33



$        18.03



$        0.30

1.7%










Non-GAAP Financial Measure
The information provided in some of the tables in this release includes certain non-GAAP financial measures as defined under SEC rules.  In accordance with SEC rules, the Company has provided, in the supplemental information and the footnotes to the tables, a reconciliation of those measures to the most directly comparable GAAP measures.

EBITDA
Earnings before interest, income taxes, depreciation and amortization (EBITDA) is not a measure of financial performance under accounting principles generally accepted in the United States of America.  It should not be considered in isolation or as a substitute for net income, operating income, cash flows from operating, investing or financing activities, or any other measure calculated in accordance with generally accepted accounting principles. The items excluded from EBITDA are significant components in understanding and evaluating financial performance and liquidity. Management routinely calculates and communicates EBITDA and believes that it is useful to investors because it is commonly used as an analytical indicator within our industry to evaluate performance, measure leverage capacity and debt service ability, and to estimate current or prospective enterprise value. EBITDA is also used in certain covenants contained in our credit agreement.

The following tables set forth a reconciliation of net income to EBITDA:

ALMOST FAMILY, INC. AND SUBSIDIARIES

RECONCILIATION OF EBITDA

(In thousands)







Three Months Ended

December 31,


Year Ended December 31,


2012


2011


2012


2011

Net income

$           3,705


$           5,305


$        17,284


$        20,802

Add back:








Interest expense

17


39


104


180

Income tax expense

2,482


3,248


11,156


13,579

Depreciation and amortization

667


646


2,578


2,816

Amortization of stock-based
    compensation

346


383


1,473


1,422

Earnings before interest, income taxes, depreciation and amortization (EBITDA)

$           7,217


$           9,621


$        32,595


$        38,799









About Almost Family
Almost Family, Inc., founded in 1976, is a leading regional provider of home health nursing and personal care services with locations in Florida, Ohio, Kentucky, Connecticut, New Jersey, Massachusetts, Missouri, Alabama, Illinois, Pennsylvania and Indiana (in order of revenue significance).  Almost Family, Inc. and its subsidiaries operate a Medicare-certified segment and a personal care segment.  Altogether, Almost Family operates over 160 branch locations in 11 U.S. states. 

Forward Looking Statements
All statements, other than statements of historical facts, included in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terminology such as "may," "will," "expect," "believe," "estimate," "project," "anticipate," "continue," or similar terms, variations of those terms or the negative of those terms. These forward-looking statements are based on the Company's current plans, expectations and projections about future events.

Because forward-looking statements involve risks and uncertainties, the Company's actual results could differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The potential risks and uncertainties which could cause actual results to differ materially include: regulatory approvals or Fourth party consents may not be obtained; the impact of further changes in healthcare reimbursement systems, including the ultimate outcome of potential changes to Medicare reimbursement for home health services and to Medicaid reimbursement due to state budget shortfalls; the ability of the Company to maintain its level of operating performance and achieve its cost control objectives; changes in our relationships with referral sources; the ability of the Company to integrate acquired operations including obtaining synergies, integration objectives and anticipated timelines; government regulation; health care reform; pricing pressures from Medicare, Medicaid and other Fourth-party payers; changes in laws and interpretations of laws relating to the healthcare industry; and the Company's self-insurance risks.  For a more complete discussion regarding these and other factors which could affect the Company's financial performance, refer to the Company's various filings with the Securities and Exchange Commission, including its filing on Form 10-K for the year ended December 31, 2012, in particular information under the headings "Special Caution Regarding Forward-Looking Statements" and "Risk Factors." The Company undertakes no obligation to update or revise its forward-looking statements.

SOURCE Almost Family, Inc.

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@ThingsExpo Stories
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities. In his session at @ThingsExpo, Gary Hall, Chief Technology Officer, Federal Defense at Cisco Systems, will break down the core capabilities of IoT in multiple settings and expand upon IoE for bo...
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes for use cases across the industrial, enterprise, and consumer segments.
The Internet of Things (IoT) is causing data centers to become radically decentralized and atomized within a new paradigm known as “fog computing.” To support IoT applications, such as connected cars and smart grids, data centers' core functions will be decentralized out to the network's edges and endpoints (aka “fogs”). As this trend takes hold, Big Data analytics platforms will focus on high-volume log analysis (aka “logs”) and rely heavily on cognitive-computing algorithms (aka “cogs”) to make sense of it all.
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understanding the kinds of data: structured, unstructured, big/small? Analytics: What kinds and how responsiv...
The 3rd International @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 - is now accepting submissions to demo smart cars on the Expo Floor. Smart car sponsorship benefits include general brand exposure and increasing engagement with the developer ecosystem.
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, representing a model of how to analyze rea...
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use cases.
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
When it comes to the Internet of Things, hooking up will get you only so far. If you want customers to commit, you need to go beyond simply connecting products. You need to use the devices themselves to transform how you engage with every customer and how you manage the entire product lifecycle. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, will show how “product relationship management” can help you leverage your connected devices and the data they generate about customer usage and product performance to deliver extremely compelling and reliabl...
SYS-CON Events announced today that SoftLayer, an IBM company, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015 at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place November 3–5, 2015 at the Santa Clara Convention Center in Santa Clara, CA. SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from ...
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. Learn about IoT, Big Data and deployments processing massive data volumes from wearables, utilities and other machines.