Welcome!

Open Source Authors: Ignacio M. Llorente, Carmen Gonzalez, Michael Meiner, Liz McMillan, Amy Lindberg

News Feed Item

Red Hat Reports Third Quarter Results

Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced financial results for its fiscal year 2013 third quarter ended November 30, 2012.

Total revenue for the quarter was $343.6 million, an increase of 18% in U.S. dollars from the year ago quarter, or 21% measured in constant currency, as detailed in the tables below. Subscription revenue for the quarter was $294.2 million, up 19% in U.S. dollars year-over-year, or 22% measured in constant currency, as detailed in the tables below.

“Strong execution, industry leading solutions and our ability to deliver a compelling ROI to our customers, all contributed to continued momentum and strong third quarter revenue growth in the face of a challenging global economic environment. Red Hat is benefiting from our position as a trusted vendor for IT,” stated Jim Whitehurst, President and Chief Executive Officer of Red Hat. “Since October of last year we have completed three acquisitions, and are announcing a fourth today to expand our portfolio of open source solutions and enlarge our addressable market. As our enterprise customers move to open, hybrid cloud architectures, we are addressing their needs with a clear roadmap based on industry-leading open source technologies.”

GAAP operating income for the third quarter was $49.9 million, down 7% year-over-year, due largely to acquisition-related costs, including stock compensation and amortization. GAAP operating margin was 14.5%. After adjusting for stock compensation and amortization expenses, as detailed in the tables below, non-GAAP operating income for the third quarter was $82.5 million, up 5% year-over-year. Non-GAAP operating margin was 24.0%.

Net income for the quarter was $34.8 million, or $0.18 per diluted share, compared with $38.2 million, or $0.19 per diluted share, in the year ago quarter. After adjusting for stock compensation and amortization expenses, as detailed in the tables below, non-GAAP net income for the quarter was $56.9 million, or $0.29 per diluted share, as compared to $55.7 million, or $0.28 per diluted share, in the year ago quarter.

Operating cash flow was $100.2 million for the third quarter, as compared to $96.6 million in the year ago quarter. At quarter end, the company’s total deferred revenue balance was $987.7 million, an increase of 21% on a year-over-year basis. Total cash, cash equivalents and investments as of November 30, 2012 were $1.35 billion.

“While we continue to increase investments in new technologies and growth initiatives, our solid performance is driving steady profitability and strong operating cash flow. In Q3, we used our strong balance sheet and cash flow to repurchase approximately $52 million of common stock, in addition to closing the FuseSource acquisition which enhances our offering in the fast-growing Application Integration software space.” stated Charlie Peters, Executive Vice President and Chief Financial Officer of Red Hat. “We have continued this focused investment in key growth opportunities with the announcement of an agreement to acquire ManageIQ, Inc. ManageIQ positions us deeper in the cloud management market which analysts estimate will be a $3 billion market by 2016.”

Additional information on Red Hat's reported results, including a reconciliation of the non-GAAP adjusted results, are included in the financial tables below. A live webcast of Red Hat's results will begin at 5:00 pm ET today and can be accessed by the general public at Red Hat's investor relations website at http://investors.redhat.com. A replay of the webcast will be available shortly after the live event has ended.

About Red Hat, Inc.

Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, and open source communities, Red Hat helps create relevant, innovative technologies that liberate resources for growth and prepare customers for the future of IT. Learn more at http://www.redhat.com.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to delays or reductions in information technology spending; the effects of industry consolidation; the ability of the Company to compete effectively; uncertainty and adverse results in litigation and related settlements; the integration of acquisitions and the ability to market successfully acquired technologies and products; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; fluctuations in exchange rates; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Quarterly Report on Form 10-Q (copies of which may be accessed through the Securities and Exchange Commission's website at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic and political conditions, governmental and public policy changes and the impact of natural disasters such as earthquakes and floods. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

Red Hat and JBoss are trademarks of Red Hat, Inc., registered in the U.S. and other countries. Linux® is the registered trademark of Linus Torvalds in the U.S. and other countries.

RED HAT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands - except per share amounts)
               
 
Three Months Ended Nine Months Ended
November 30, November 30, November 30, November 30,
2012 2011 2012 2011
Revenue:
 
Subscriptions $294,186 $246,538 $845,557 $710,408
Training and services 49,420 43,488 135,375 125,684
 
 
Total subscription, training and services revenue 343,606 290,026 980,932 836,092
 
Cost of revenue:
 
Subscriptions 21,153 17,041 57,939 48,876
Training and services 31,965 28,148 89,056 85,399
 
 
Total cost of subscription, training and services revenue 53,118 45,189 146,995 134,275
 
 
Total gross profit 290,488 244,837 833,937 701,817
 
Operating expense:
Sales and marketing 133,792 107,561 378,240 304,617
Research and development 68,655 53,739 191,901 153,515
General and administrative 38,122 29,965 109,847 92,277
Facility exit costs - - 3,142 -
 
Total operating expense 240,569 191,265 683,130 550,409
 
Income from operations 49,919 53,572 150,807 151,408
Interest income 1,936 2,075 6,384 6,138
Other income (expense), net (730) (227) 502 (167)
 
 
Income before provision for income taxes 51,125 55,420 157,693 157,379
Provision for income taxes 16,360 17,180 50,462 46,722
 
Net income $34,765 $38,240 $107,231 $110,657
 
Net income per share:
Basic $0.18 $0.20 $0.56 $0.57
Diluted $0.18 $0.19 $0.55 $0.56
 
Weighted average shares outstanding:
Basic 193,374 193,393 193,127 193,162
Diluted 195,666 196,468 195,898 196,493

RED HAT, INC.
CONSOLIDATED BALANCE SHEETS
             
(In thousands)
 
ASSETS
November 30, February 29,
2012 2012 (1)
(Unaudited)
Current assets:
Cash and cash equivalents $605,911 $549,217
Investments in debt and equity securities 280,433 264,298
Accounts receivable, net 254,787 255,180
Deferred tax assets, net 63,342 69,765
Prepaid expenses 83,809 81,266
Other current assets 2,010 1,629
 
Total current assets 1,290,292 1,221,355
 
Property and equipment, net 128,743 92,065
Goodwill 608,149 591,563
Identifiable intangibles, net 130,025 100,638
Investments in debt securities 463,553 446,838
Other assets, net 41,137 38,640
 
Total assets $2,661,899 $2,491,099
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses $155,768 $114,078
Deferred revenue 735,580 711,408
Other current obligations 1,082 819
 
Total current liabilities 892,430 826,305
 
Long term deferred revenue 252,152 235,328
Other long term obligations 36,095 30,649
Stockholders' equity:
Common stock 23 23
Additional paid-in capital 1,770,525 1,709,082
Retained earnings 498,907 391,676
Treasury stock, at cost (780,912) (696,012)
Accumulated other comprehensive loss (7,321) (5,952)
 
Total stockholders' equity 1,481,222 1,398,817
 
Total liabilities and stockholders' equity $2,661,899 $2,491,099
 
 
(1) Derived from audited financial statements

RED HAT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In thousands)
               
 
Three Months Ended Nine Months Ended
November 30, November 30, November 30, November 30,
2012 2011 2012 2011
 
Cash flows from operating activities:
Net income $34,765 $38,240 $107,231 $110,657
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization 16,126 12,392 44,773 38,278
Share-based compensation expense 26,678 20,770 72,743 55,710
Deferred income taxes 6,686 17,015 29,749 36,225
Excess tax benefits from share-based payment arrangements (8,100) (7,626) (27,900) (24,298)
Other (552) (233) (2,393) (550)
Changes in operating assets and liabilities net of effects of acquisitions:
Accounts receivable (35,291) (35,014) 534 (23,429)
Prepaid expenses 2,652 (3,096) (4,314) (6,324)
Accounts payable and accrued expenses 21,554 22,206 47,903 21,595
Deferred revenue 35,207 32,046 56,515 56,167
Other 431 (144) 3,572 (159)
 
Net cash provided by operating activities 100,156 96,556 328,413 263,872
 
Cash flows from investing activities:
Purchase of available-for-sale debt securities (123,318) (329,730) (631,087) (731,016)
Proceeds from sales and maturities of available-for-sale debt securities 169,743 196,991 587,522 578,267
Acquisition of business, net of cash acquired (21,188) (135,210) (31,239) (135,210)
Purchase of other intangible assets (5,577) (643) (32,440) (4,245)
Purchase of property and equipment (28,309) (11,115) (64,552) (31,294)
Other (66) (1,622) 264 (1,276)
 
Net cash used in investing activities (8,715) (281,329) (171,532) (324,774)
 
Cash flows from financing activities:
Excess tax benefits from share-based payment arrangements 8,100 7,626 27,900 24,298
Proceeds from exercise of common stock options 4,294 7,139 10,810 15,552
Purchase of treasury stock (52,018) - (84,900) (56,952)
Payments related to net settlement of employee share-based compensation awards (22,924) (20,118) (45,612) (32,103)
Payments on other borrowings (205) (70) (682) (759)
 
Net cash used in financing activities (62,753) (5,423) (92,484) (49,964)
 
Effect of foreign currency exchange rates on cash and cash equivalents 5,647 (20,597) (7,703) (5,099)
Net increase (decrease) in cash and cash equivalents 34,335 (210,793) 56,694 (115,965)
Cash and cash equivalents at beginning of the period 571,576 737,458 549,217 642,630
 
Cash and cash equivalents at end of period $605,911 $526,665 $605,911 $526,665

RED HAT, INC.
RECONCILIATION OF CERTAIN GAAP RESULTS TO NON-GAAP ADJUSTED RESULTS
(Unaudited)
(In thousands - except per share amounts)
     
 
Non cash share-based compensation expense included in Consolidated Statements of Operations:
 
Three Months Ended Nine Months Ended
November 30, November 30, November 30, November 30,
2012 2011 2012 2011
 
Cost of revenue $2,444 $2,245 $6,777 $5,877
Sales and marketing 8,875 7,157 23,962 18,829
Research and development 7,935 5,368 22,040 14,445
General and administration 7,424 6,000 19,964 16,559
Total share-based compensation expense $26,678 $20,770 $72,743 $55,710
 
 
Amortization of intangible assets expense included in Consolidated Statements of Operations:
 
Three Months Ended Nine Months Ended
November 30, November 30, November 30, November 30,
2012 2011 2012 2011
 
Cost of revenue $1,433 $669 $3,252 $2,864
Sales and marketing 2,076 1,957 6,272 5,874
Research and development 959 940 2,877 3,254
General and administration 1,476 905 3,800 2,616
Total amortization of intangible assets expense $5,944 $4,471 $16,201 $14,608
 
 
Facility exit costs included in Consolidated Statements of Operations:
 
Three Months Ended Nine Months Ended
November 30, November 30, November 30, November 30,
2012 2011 2012 2011
 
Facility exit costs - - $3,142 -
 
 
 
Three Months Ended Nine Months Ended
November 30, November 30, November 30, November 30,
2012 2011 2012 2011
 
GAAP net income $34,765 $38,240 $107,231 $110,657
 
Provision for income taxes 16,360 17,180 50,462 46,722
 
GAAP income before provision for income taxes $51,125 $55,420 $157,693 $157,379
 
Add: Non-cash share-based compensation expense 26,678 20,770 72,743 55,710
Add: Amortization of intangible assets 5,944 4,471 16,201 14,608
Add: Facility exit costs - - 3,142 -
 
Non-GAAP adjusted income before provision for income taxes $83,747 $80,661 $249,779 $227,697
 
Provision for income taxes (1) 26,799 25,005 79,929 68,521
 
Non-GAAP adjusted net income (basic and diluted) $56,948 $55,656 $169,850 $159,176
 
Non-GAAP adjusted net income per share:
Basic $0.29 $0.29 $0.88 $0.82
Diluted $0.29 $0.28 $0.87 $0.81
 
 
(1) Provision for income taxes:
Non-GAAP adjusted net income before income tax provision $83,747 $80,661 $249,779 $227,697
Estimated annual effective tax rate 32.0% 31.0% 32.0% 31.0%
Non-GAAP provision for income taxes before discrete tax benefit $26,799 $25,005 $79,929 $70,586
Discrete tax benefit - - - 2,065
Provision for income taxes on Non-GAAP adjusted net income $26,799 $25,005 $79,929 $68,521

RED HAT, INC.
RECONCILIATION OF CERTAIN GAAP RESULTS TO NON-GAAP ADJUSTED RESULTS
(Unaudited)
(In thousands - except per share amounts)
                 
 
 
Reconciliation of GAAP results to non-GAAP adjusted results
 
Three Months Ended Nine Months Ended
November 30, November 30, November 30, November 30,
2012 2011 2012 2011
 
GAAP gross profit $290,488 $244,837 $833,937 $701,817
 
Add: Non-cash share-based compensation expense 2,444 2,245 6,777 5,877
Add: Amortization of intangible assets 1,433 669 3,252 2,864
 
Non-GAAP gross profit $294,365 $247,751 $843,966 $710,558
 
Non-GAAP gross margin 86% 85% 86% 85%
 
 
Three Months Ended Nine Months Ended
November 30, November 30, November 30, November 30,
2012 2011 2012 2011
 
GAAP operating expenses $240,569 $191,265 $683,130 $550,409
 
Deduct: Non-cash share-based compensation expense (24,234) (18,525) (65,966) (49,833)
Deduct: Amortization of intangible assets (4,511) (3,802) (12,949) (11,744)
Deduct: Facility exit costs - - (3,142) -
 
Non-GAAP adjusted operating expenses $211,824 $168,938 $601,073 $488,832
 
 
Three Months Ended Nine Months Ended
November 30, November 30, November 30, November 30,
2012 2011 2012 2011
 
GAAP operating income $49,919 $53,572 $150,807 $151,408
 
Add: Non-cash share-based compensation expense 26,678 20,770 72,743 55,710
Add: Amortization of intangible assets 5,944 4,471 16,201 14,608
Add: Facility exit costs - - 3,142 -
 
Non-GAAP adjusted operating income $82,541 $78,813 $242,893 $221,726
 
Non-GAAP adjusted operating margin 24.0% 27.2% 24.8% 26.5%
 
 
Three Months Ended  
November 30, November 30, Year-Over-Year
2012 2011 Growth Rate
 
GAAP subscription revenue $294,186 $246,538 19.3%
Adjustment for currency impact 5,647 -
Non-GAAP subscription revenue on a constant currency basis $299,833 $246,538 21.6%
 
GAAP training and services revenue $49,420 $43,488 13.6%
Adjustment for currency impact 1,024 -
Non-GAAP training and services revenue on a constant currency basis $50,444 $43,488 16.0%
 
GAAP total subscription, training and services revenue $343,606 $290,026 18.5%
Adjustment for currency impact 6,671 -
Non-GAAP total subscription, training and services revenue on a constant currency basis $350,277 $290,026 20.8%

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
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.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
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.
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...

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

The 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...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
"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.
Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment. Leveraging technologies proven in the Carrier and Enterprise markets, IStaX is designed to work ac...
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
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 - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.