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Phoenix New Media Reports Third Quarter 2012 Unaudited Financial Results

3Q12 Net Advertising Revenues Up 11.4% YOY

BEIJING, Nov. 20, 2012 /PRNewswire/ -- Phoenix New Media Limited (NYSE: FENG), a leading new media company in China ("Phoenix New Media", "ifeng" or the "Company"), today announced its unaudited financial results for the third quarter ended September 30, 2012.

Third Quarter 2012 Highlights

  • Total revenues increased by 5.8% year-over-year to RMB286.4 million (US$45.6 million), driven by an 11.4% increase in net advertising revenues.
  • Net income attributable to Phoenix New Media was RMB11.5 million (US$1.8 million), as compared to RMB56.8 million in the third quarter of 2011.
  • Adjusted net income attributable to Phoenix New Media(1) was RMB14.1 million (US$2.2 million), as compared to RMB61.5 million in the third quarter of 2011.

Mr. Shuang Liu, CEO of Phoenix New Media, stated, "Even though our advertising business continued to experience softness due to the uncertainty of the macro-economic situation, advertisers continued to demonstrate confidence in our media platform by increasing their average spending on our platform by nearly 36% year-over-year. This increase was a direct result of our premium content which generated over 110% year-over-year growth to 38 million in ifeng's daily unique visitors in September, the growth of which continued to significantly outpace our peers, according to iResearch.  Looking forward, we remain confident that once the macro-economic situation stabilizes, we can expect stabilization in the overall advertising business, providing us improved visibility in the coming quarters."

Third Quarter 2012 Financial Results

REVENUES

Total revenues for the third quarter of 2012 increased by 5.8% to RMB286.4 million (US$45.6 million) from RMB270.8 million in the third quarter of 2011.

Net advertising revenues, calculated net of advertising agency service fees, for the third quarter of 2012 increased by 11.4% to RMB140.5 million (US$22.4 million) from RMB126.2 million in the third quarter of 2011, primarily due to an increase in average revenue per advertiser ("ARPA") of 35.5% to RMB585,500 (US$93,100) for 240 total advertisers.

Paid service revenues for the third quarter of 2012 increased by 0.9% to RMB145.8 million (US$23.2 million) from RMB144.6 million in the third quarter of 2011. Mobile Internet and value-added services ("MIVAS")(2) revenues decreased by 7.0% to RMB125.5 million (US$20.0 million) in the third quarter of 2012 from RMB134.9 million in the third quarter of 2011 due to the expected decrease in sales from 2G text message based pay-per-view services. Video value-added services ("video VAS") revenues increased by 109.9% to RMB20.4 million (US$3.2 million) in the third quarter of 2012 from RMB9.7 million in the third quarter of 2011, primarily due to an expansion in video VAS user base across the three major telecom operators in China. 

COST OF REVENUES AND GROSS PROFIT

Cost of revenues for the third quarter of 2012 increased by 14.5% to RMB173.9 million (US$27.7 million) from RMB151.9 million in the third quarter of 2011.  Revenue sharing fees to telecom operators and channel partners decreased to RMB79.4 million (US$12.6 million) in the third quarter of 2012 from RMB89.1 million in the third quarter of 2011, primarily due to the decrease in MIVAS revenues.  Content and operational costs increased to RMB60.1 million (US$9.6 million) in the third quarter of 2012 from RMB37.9 million in the third quarter of 2011 due to the increase in staff-related costs, office rental fees, as well as the increase in content production and acquisition costs.  Bandwidth costs increased to RMB20.2 million (US$3.2 million) in the third quarter of 2012 from RMB9.5 million in the third quarter of 2011 primarily due to the significant growth in user traffic.  Sales tax and surcharges decreased to RMB14.2 million (US$2.3 million) in the third quarter of 2012 from RMB15.4 million in the third quarter of 2011.  Share-based compensation expenses included in cost of revenues was RMB0.6 million (US$0.1 million) in the third quarter of 2012 as compared to RMB1.2 million in the third quarter of 2011.

Gross profit for the third quarter of 2012 decreased by 5.4% to RMB112.5 million (US$17.9 million) from RMB118.9 million in the third quarter of 2011. Gross margin was 39.3% in the third quarter of 2012 as compared to 43.9% in the third quarter of 2011, mainly due to the increase in staff-related costs, bandwidth costs and office rental fees. Adjusted gross margin, which excludes share-based compensation expenses, was 39.5% in the third quarter of 2012 as compared to 44.3% in the third quarter of 2011.

OPERATING EXPENSES AND INCOME FROM OPERATIONS

Total operating expenses for the third quarter of 2012 increased by 46.3% to RMB108.8 million (US$17.3 million) from RMB74.3 million in the third quarter of 2011. The increase in operating expenses was primarily attributable to increased staff-related costs, marketing and promotion events and office rental fees.Share-based compensation expenses included in operating expenses was RMB2.0 million (US$0.3 million) in the third quarter of 2012 as compared to RMB3.5 million in the third quarter of 2011.

Income from operations for the third quarter of 2012 was RMB3.7 million (US$0.6 million) as compared to RMB44.5 million in the third quarter of 2011. Operating margin was 1.3% for the third quarter of 2012 as compared to 16.4% in the third quarter of 2011. The decrease in operating margin was primarily due to increased headcount, marketing and promotion events and office rental fees.

Adjusted income from operations, which excludes the impact of share-based compensation expenses, for the third quarter of 2012 was RMB6.3 million (US$1.0 million) as compared to RMB49.2 million in the third quarter of 2011.Adjusted operating margin was 2.2% for the third quarter of 2012 as compared to 18.2% in the third quarter of 2011.

FOREIGN CURRENCY EXCHANGE GAIN/LOSS AND INTEREST INCOME

Foreign currency exchange loss for the third quarter of 2012 was RMB2.0 million (US$0.3 million), as compared to an exchange gain of RMB13.3 million in the third quarter of 2011. Interest income for the third quarter of 2012 was RMB8.2 million (US$1.3 million), as compared to RMB4.3 million in the third quarter of 2011. The increase in interest income was primarily due to higher deposit levels resulting from the Company's IPO net proceeds.

NET INCOME

Net income attributable to Phoenix New Media for the third quarter of 2012 was RMB11.5 million (US$1.8 million) as compared to RMB56.8 million in the third quarter of 2011. Net margin for the third quarter of 2012 was 4.0% as compared to 21.0% in third quarter of 2011.Net income per diluted ADS(3) in the third quarter of 2012 was RMB0.14 (US$0.02) as compared to RMB0.70 in the third quarter of 2011.

Adjusted net income attributable to Phoenix New Media for the third quarter of 2012, which excludes share-based compensation expenses, was RMB14.1 million (US$2.2 million) as compared to RMB61.5 million in the third quarter of 2011. Adjusted net margin for the third quarter of 2012 was 4.9% as compared to 22.7% in the third quarter of 2011. Adjusted net income per diluted ADS was RMB0.17 (US$0.03) in the third quarter of 2012, as compared to RMB0.76 in the third quarter of 2011.

For the third quarter of 2012, the Company's weighted average number of ADS used in computing diluted net income per ADS was 80,672,024.

Business Outlook

For the fourth quarter of 2012, the Company expects its total revenues to be between RMB266 million and RMB276 million.  Net advertising revenues are expected to be between RMB166 million and RMB171 million.  Paid service revenues are expected to be between RMB100 million and RMB105 million.  These forecasts reflect the Company's current and preliminary view on the market and operational conditions, which are subject to change.

Share Repurchase Program

As of September 30, 2012, the Company had repurchased an aggregate of 1,228,724 American Depositary Shares ("ADSs") at an aggregate cost of approximately US$4.5 million on the open market. Under its ADS repurchase program, the Company has been authorized to repurchase up to US$20 million of its outstanding ADSs for a period not to exceed twelve (12) months since August 2012.  The Company expects to continue to implement its share repurchase program in a manner consistent with market conditions and the interest of its shareholders, subject to the restrictions relating to volume, price and timing under applicable law.

Conference Call Information

The Company will hold a conference call at 8:00p.m. U.S. Eastern Time on November 20, 2012 (November 21, 2012 at 9:00a.m. Beijing / Hong Kong time) to discuss its third quarter 2012 financial results and operating performance.

To participate in the call, please dial the following numbers:

International:        

+6567239385

China:                     

4001200654

Hong Kong:           

+85230512745

United States:      

+16462543515

Conference ID:  

59655968

A replay of the call will be available through November 26, 2012 by dialing the following numbers:

International: 

+61281990299

China:                 

4001200932

United States:       

+18554525696

Hong Kong:               

+85230512780

Conference ID:    

59655968

A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.ifeng.com.

Use of Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with the United States Generally Accepted Accounting Principles ("GAAP"), Phoenix New Media uses adjusted gross profit, adjusted gross margin, adjusted income from operations, adjusted operating margin, adjusted net income attributable to Phoenix New Media, adjusted net margin, adjusted net income attributable to ordinary shareholders and adjusted net income per diluted ADS, each of which is a non-GAAP financial measure. Adjusted gross profit is gross profit excluding share-based compensation expenses. Adjusted gross margin is adjusted gross profit divided by total revenues. Adjusted income from operations is income from operations excluding share-based compensation expenses. Adjusted operating margin is adjusted income from operations divided by total revenues.  Adjusted net income attributable to Phoenix New Media is net income attributable to Phoenix New Media excluding share-based compensation expenses. Adjusted net margin is adjusted net income attributable to Phoenix New Media divided by total revenues. Adjusted net income attributable to ordinary shareholders is net income attributable to ordinary shareholders excluding share-based compensation expenses. Adjusted net income per diluted ADS is adjusted net income attributable to ordinary shareholders divided by weighted average number of diluted ADS. The Company believes that separate analysis and exclusion of the non-cash impact of share-based compensation adds clarity to the constituent parts of its performance. The Company reviews adjusted net income together with net income to obtain a better understanding of its operating performance. It uses this non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that using multiple measures to evaluate its business allows both management and investors to assess the company's performance against its competitors and ultimately monitor its capacity to generate returns for its investors. The Company also believes that non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance without the effect of non-cash share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP.

Exchange Rate

This announcement contains translations of certain RMB amounts into U.S. dollars ("USD") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB6.2848 to US$1.00, the noon buying rate in effect on September 30, 2012 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.

About Phoenix New Media Limited

Phoenix New Media Limited (NYSE: FENG) is the leading new media company providing premium content on an integrated platform across Internet, mobile and TV channels in China.  Having originated from a leading global Chinese language TV network based in Hong Kong, Phoenix TV, the Company enables consumers to access professional news and other quality information and share user-generated content on the Internet and through their mobile devices. Phoenix New Media's platform includes its ifeng.com channel, consisting of its ifeng.com website, its video channel, comprised of its dedicated video vertical and video services and applications, and its mobile channel, including its mobile Internet website and mobile Internet and value-added services ("MIVAS").

Safe Harbor Statement

This announcement contains forward−looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Phoenix New Media's strategic and operational plans, contain forward−looking statements. Phoenix New Media may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20−F and 6−K in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Phoenix New Media's beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, financial condition and results of operations; the expected growth of the online and mobile advertising, online video and mobile paid service markets in China; the Company's reliance on online advertising and MIVAS for the majority of its total revenues; the Company's expectations regarding demand for and market acceptance of its services; the Company's expectations regarding the retention and strengthening of its relationships with advertisers, partners and customers; fluctuations in the Company's quarterly operating results; the Company's plans to enhance its user experience, infrastructure and service offerings; the Company's reliance on mobile operators in China to provide most of its MIVAS; changes by mobile operators in China to their policies for MIVAS; competition in its industry in China; and relevant government policies and regulations relating to the Company. Further information regarding these and other risks is included in the Company's filings with the SEC, including its registration statement on Form F−1, as amended, and its annual report on Form 20−F. All information provided in this press release and in the attachments is as of the date of this press release, and Phoenix New Media does not undertake any obligation to update any forward−looking statement, except as required under applicable law.

(1) An explanation of the Company's non-GAAP financial measures is included in the section entitled "Use of Non-GAAP Financial Measures" below, and the related reconciliations to GAAP financial measures are presented in the accompanying "Reconciliations of Non-GAAP Results of Operation Measures to the Nearest Comparable GAAP Measures".

(2) MIVAS includes Internet VAS, which was previously a separate component of paid service.

(3) "ADS" is American Depositary Share. Each ADS represents eight ordinary shares.

For investor and media inquiries please contact:

Phoenix New Media Limited
Matthew Zhao
Tel: +86 (10) 6067-6868
Email: [email protected]  

ICR, Inc.
Jeremy Peruski
Tel: +1 (646) 405-4883
Email: [email protected]


Phoenix New Media Limited

Unaudited Condensed Consolidated Balance Sheets

(Amounts in thousands)




December 31,


September 30,


September 30,


2011

2012


2012




RMB


RMB


US$










ASSETS










Current assets:











Cash and cash equivalents



397,166



319,091



50,772


Term deposit



784,023



797,972



126,969


Accounts receivable, net



202,097



308,887



49,148


Amounts due from related parties



64,388



61,836



9,839


Prepayment and other current assets



46,334



76,827



12,224


Deferred tax assets



11,931



20,506



3,263


Total current assets



1,505,939



1,585,119



252,215

Non current assets:











Property and equipment, net



41,012



99,880



15,892


Intangible assets, net



5,415



8,385



1,334


Other non-current assets



12,128



11,139



1,773


Total non-current assets



58,555



119,404



18,999

Total assets



1,564,494



1,704,523



271,214












LIABILITIES AND SHAREHOLDERS' EQUITY










Current liabilities:











Accounts payable



120,910



171,759



27,329


Amounts due to related parties



3,889



16,046



2,553


Advances from customers



7,191



11,977



1,906


Taxes payable



35,822



29,140



4,637


Salary and welfare payable



45,119



51,289



8,161


Accrued expenses and other current liabilities



39,276



43,486



6,919


Total current liabilities



252,207



323,697



51,505


Long-term liabilities



5,504



7,224



1,149

Total liabilities



257,711



330,921



52,654












Shareholders' equity











Ordinary shares 



42,054



42,271



6,726


Additional paid-in capital



1,830,882



1,818,767



289,391


Treasury stock



-



(7,106)



(1,131)


Statutory reserves



24,647



24,647



3,922


Accumulated deficit



(555,831)



(476,334)



(75,790)


Accumulated other comprehensive loss



(34,969)



(28,643)



(4,558)


Total shareholders' equity



1,306,783



1,373,602



218,560

Total liabilities and shareholders' equity



1,564,494



1,704,523



271,214

 

 

Phoenix New Media Limited

Unaudited Condensed Consolidated Statements of Operations

(Amounts in thousands, except for number of shares and  per share data)

 



Three Months Ended


Nine Months Ended



September 30,


June 30,


September 30,


September 30,


September 30,


September 30,


September 30,



2011


2012


2012


2012


2011


2012


2012



RMB


RMB


RMB


US$ 


RMB


RMB


US$ 
















Revenues:






















  Net advertising revenues                                                  



126,172



147,603



140,521



22,359



315,387



417,022



66,354

  Paid service revenues



144,599



135,777



145,837



23,205



354,753



391,788



62,339

Total revenues



270,771



283,380



286,358



45,564



670,140



808,810



128,693

Cost of revenues



(151,912)



(157,313)



(173,887)



(27,668)



(390,440)



(466,224)



(74,183)

Gross profit



118,859



126,067



112,471



17,896



279,700



342,586



54,510

Operating expenses:






















  Sales and marketing expenses



(36,890)



(37,218)



(54,073)



(8,604)



(113,166)



(130,773)



(20,808)

  General and administrative expenses



(19,716)



(31,591)



(29,029)



(4,619)



(55,679)



(78,004)



(12,412)

  Technology and product development expenses



(17,732)



(22,208)



(25,676)



(4,085)



(51,114)



(67,875)



(10,799)

Total operating expenses



(74,338)



(91,017)



(108,778)



(17,308)



(219,959)



(276,652)



(44,019)

Income from operations



44,521



35,050



3,693



588



59,741



65,934



10,491

Other income:






















  Interest income



4,260



8,554



8,150



1,297



4,699



25,466



4,052

  Foreign currency exchange gain/(loss)



13,318



(3,474)



(1,976)



(314)



13,418



(4,692)



(747)

  Others, net



1,010



1,487



1,494



237



1,967



4,508



718

Net income before tax



63,109



41,617



11,361



1,808



79,825



91,216



14,514

  Income taxes expenses



(6,271)



(6,595)



181



28



(12,989)



(11,719)



(1,865)

Net income attributable to
  Phoenix New Media



56,838



35,022



11,542



1,836



66,836



79,497



12,649

  Accretion to convertible redeemable preferred
     share redemption value



-



-



-



-



(773,623)



-



-

  Income allocation to participating  preferred shares



-



-



-



-



(6,172)



-



-

Net income/(loss) attributable to
  ordinary shareholders



56,838



35,022



11,542



1,836



(712,959)



79,497



12,649

Net income/(loss) per ordinary share—basic



0.09



0.06



0.02



0.003



(1.46)



0.13



0.020

Net income/(loss) per ordinary share—diluted



0.09



0.05



0.02



0.003



(1.46)



0.12



0.020

Weighted average number of ordinary shares used
   in computing basic net income/(loss) per share



610,872,332



623,297,593



624,008,549



624,008,549



487,159,760



622,010,661



622,010,661

Weighted average number of ordinary shares used
   in computing diluted net income/(loss) per share



648,380,080



648,612,661



645,376,189



645,376,189



487,159,760



647,617,767



647,617,767

Net income/(loss) per ADS—basic



0.74



0.45



0.15



0.024



(11.71)



1.02



0.163

Net income/(loss) per ADS—diluted



0.70



0.43



0.14



0.023



(11.71)



0.98



0.156

Weighted average number of ADS used in
   computing basic net income/(loss) per ADS



76,359,042



77,912,199



78,001,069



78,001,069



60,894,970



77,751,333



77,751,333

Weighted average number of ADS used in
   computing diluted net income/(loss) per ADS



81,047,510



81,076,583



80,672,024



80,672,024



60,894,970



80,952,221



80,952,221

 

Reconciliations of Non-GAAP Results of Operations Measures to The Nearest Comparables GAAP Measures

(Amounts in thousands, except for number of shares and per share data)






















Three Months Ended September 30, 2011


Three Months Ended June 30, 2012


Three Months Ended September 30, 2012





Non-GAAP






Non-GAAP






Non-GAAP





GAAP


Adjustments (1)


Non-GAAP


GAAP


Adjustments (1)


Non-GAAP


GAAP


Adjustments (1)


Non-GAAP



RMB


RMB


RMB


RMB


RMB


RMB


RMB


RMB


RMB



(Unaudited)


(Unaudited)


(Unaudited)


(Unaudited)


(Unaudited)


(Unaudited)


(Unaudited)


(Unaudited)


(Unaudited)

Gross profit                                                                                   


118,859


1,188


120,047


126,067


677


126,744


112,471


554


113,025

Gross margin


43.9%




44.3%


44.5%




44.7%


39.3%




39.5%

Income from operations


44,521


4,651


49,172


35,050


2,903


37,953


3,693


2,561


6,254

Operating margin


16.4%




18.2%


12.4%




13.4%


1.3%




2.2%

Net income attributable to  PNM


56,838


4,651


61,489


35,022


2,903


37,925


11,542


2,561


14,103

Net margin


21.0%




22.7%


12.4%




13.4%


4.0%




4.9%

Net income attributable to  ordinary shareholders


56,838


4,651


61,489


35,022


2,903


37,925


11,542


2,561


14,103

Net income per ADS—diluted


0.70




0.76


0.43




0.47


0.14




0.17

Weighted average number of ADS used in computing
  diluted net income per ADS


81,047,510




81,047,510


81,076,583




81,076,583


80,672,024




80,672,024







































(1) Non-GAAP adjustment is only to exclude share-based compensation expenses.




















Details of cost of revenue is as follows:



Three Months Ended









September 30,


June 30,


September 30,


September 30,













2011


2012


2012


2012













RMB


RMB


RMB


US$











(Amounts in thousands)


(Unaudited)


(Unaudited)


(Unaudited)


(Unaudited)











Revenue sharing fees


89,100


72,775


79,383


12,631











Content and operational costs


37,920


50,530


60,109


9,564











Bandwidth costs


9,489


16,739


20,175


3,210











Sales tax and surcharages


15,403


17,269


14,220


2,263











Total cost of revenue


151,912


157,313


173,887


27,668











SOURCE Phoenix New Media Limited

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Want to enable self-service provisioning of application environments in minutes that mirror production? Can you automatically provide rich data with code-level detail back to the developers when issues occur in production? In his session at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how to accomplish this and more utilizing technologies such as Microsoft Azure, Visual Studio online, and Application Insights in this demo-heavy session.
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water,...
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, a...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
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 dat...
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 asse...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrateg...
SYS-CON Media announced that Centrify, a provider of unified identity management across cloud, mobile and data center environments that delivers single sign-on (SSO) for users and a simplified identity infrastructure for IT, has launched an ad campaign on Cloud Computing Journal. The ads focus on security: how an organization can successfully control privilege for all of the organization’s identities to mitigate identity-related risk without slowing down the business, and how Centrify provides ...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, described an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device exp...
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,...