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Brazil Fast Food Announces Second Quarter 2014 Results

RIO DE JANEIRO, BRAZIL--(Marketwired - August 15, 2014) - Brazil Fast Food Corp. (PINKSHEETS: BOBS) ("Brazil Fast Food", or "the Company"), one of the largest food service groups in Brazil with 1,235 points of sale, operating under (i) the Bob's brand, (ii) the Yoggi brand, (iii) KFC and Pizza Hut São Paulo as franchisee of Yum! Brands, and (iv) Doggis as master franchisee of Gastronomia & Negocios S.A. (former Grupo de Empresas Doggis S.A.), today announced financial results for the second quarter ended June 30, 2014.

Q2 2014 Highlights

  • System-wide sales totaled R$ 338.6 million, up 18.4% from Q2 2013
  • Revenue totaled R$ 71.9 million, up 26% from Q2 2013
  • Points of sale totaled 1,235 at June 30, 2014 (including 523 kiosks and 21 temporary points of sale), up from 1,057 at June 30, 2013
  • EBITDA was R$ 11.5 million, up 49% from R$ 7.7 million in Q2 2013
  • Operating income was R$ 9.5 million, up 51% from R $6.3 million in Q2 2013
  • Net income was R$ 7.0 million, or R$ 0.86 per basic and diluted share

Note that all numbers are in Brazilian currency. (R$2.2156/US$ as of 06/28/2013 and R$2.2025/US$ as of 06/30/2014)

"We are pleased with our performance in the second quarter of 2014, in which we grew revenues by 26% and our operating income by 51% despite what continues to be a challenging economic environment in Brazil. These results reflect the continued expansion of the Bob's restaurant concept, primarily through franchised operations, which produce excellent profitability. The anticipation of school vacations to June due to the FIFA World Cup, accelerated an increase in sales that would normally occur in July, thus producing a temporary positive effect in our results in Q2 2014.

"Nevertheless, sales at our restaurants were negatively impacted by demonstrations and strikes that affected the transportation system in May and by the World Cup, which reduced traffic in restaurants and increased traffic in bars during the second half of the month of June and in July. The number of transactions in comparable stores in the BFFC system decreased 4.67% in May and 2.05% in June, counterbalanced by sales of higher value added sandwiches," said Mr. Ricardo Bomeny, CEO of Brazil Fast Food.

"Looking in more detail at our brands, we are delighted with the performance of our franchised stores, where net franchise revenues grew 31.7% in the quarter. The number of franchise outlets grew very rapidly to 1,134, from 982 on June 30, 2013, reflecting the popularity of our products and strong franchisee interest. That said, we are making additional efforts to ensure that the food, service, and ambiance are at a high level of excellence and consistency across the network.

"Our owned-and-operated Bob's stores grew revenues by 30% over Q2 2013, and a better user experience improved profitability. This reflects an increase in points of sale to 49 at June 30, 2014, from 39 a year prior, and a 5.4% increase in same store sales in the second quarter. We anticipate that over the next two years we will significant increase our capital expenditures, due to the need to make a very sizable investment in our owned-and-operated stores to revamp their image and to convince our franchisees to do the same. Bob's recently presented its new visual identity, with a different store design and ambiance, communications, equipment and ingredients, to its franchisees at the annual national convention. We believe that these investments in our store network and franchisee incentives are critical to maintain the long term growth and popularity of the Bob's brand.

"We continued the expansion of our Pizza Hut stores, where net revenues grew by 40% over Q2 2013, with operating income similar to last year. We added 12 new stores, but we have experienced delays with the opening in several high-profile locations and a longer than expected maturation of new stores that negatively impacted results. Our KFC stores continued to struggle in the local market with an 18.6% decline in revenues, as we shifted the menu towards higher priced items, but produced a very small operating profit. We continue in active discussions with Yum! Brands as to how to reverse the continued negative results for these stores, including the possibility to close and/or sell some stores. Our Yoggi's brand made a small but growing contribution to profitability, with recently opened stores performing well and the potential for future expansion," Mr. Bomeny said.

Second quarter 2014 Results

System-wide sales grew 18.4% in the second quarter to R$ 338.6 million, driven by an increase in the number of franchised points of sale.

Total revenue for the second quarter of 2014 was R$ 71.9 million, an increase of 26% as compared to R$ 57 million in the second quarter of 2013, due to higher revenues from franchisees and own-operated restaurants.

Net restaurant sales for company-owned restaurants increased 24.8% year-over-year to R$ 57.5 million in the second quarter of 2014, driven by the expansion and higher sales of Bob's and Pizza Hut.

Net revenue from franchisees increased 31.7% year-over-year to R$ 14.3 million, driven primarily by an increase in number of franchised retail outlets to 1,134, as compared to 982 a year ago.

Operating expenses increased 23% to R$ 62.3 million in the second quarter of 2014, compared to R$ 50.7 million in the second quarter of 2013. As a percentage of revenue, operating costs were 86.8% of total revenue in the second quarter of 2014 as compared to 89% of total revenue in the second quarter of 2013. 

Operating income for the second quarter of 2014 was R$ 9.5 million, an increase of 51.3% from R$ 6.3 million in the second quarter of 2013. Operating margin in the second quarter of 2014 increased to 13.2%, as compared to 11% in the second quarter of 2013.

EBITDA in the second quarter of 2014 was R$ 11.5 million, up by 49% as compared to R$ 7.7 million in the second quarter of 2013. This growth rate is a result of a favorable comparison between 2013 and 2014, as our 2Q 2013 EBITDA was negatively impacted by certain non-recurring items that took place in the second quarter of 2013. EBITDA margin was 16%, as compared to 13.5% in the second quarter of 2013. Please refer to Table No. 4 in this press release for a reconciliation of EBITDA to its nearest GAAP equivalent.

Interest expense was R$ 0.9 million in the second quarter of 2014, as compared to interest expense of R$ 0.2 million in the second quarter of 2013, reflecting both increased debt obligations for expansion and higher interest rates.

Net income in the second quarter of 2014 was R$ 7.0 million, or R$ 0.86 per basic and diluted share, as compared to R$ 4.4 million, or R$ 0.54 per basic and diluted share in the second quarter of 2013.

Six Months Results

During the first six months of 2014, total revenues grew by 20.1% to R$138.4 million, from R$115.3 million in the prior year period. EBITDA for the first six months was R$20.1, up by 5.6% from EBITDA of R$19.1 million in the first half of 2013. Operating income for the first six months was R$16.1 million, down 2.4% from $16.5 million in the first half of 2013. Net income for the first six months of 2014 was $11.6 million, or $1.42 per share, up from $11.2 million, or $1.37 per share in the first half of 2013.

Financial Condition

As of June 30, 2014 the Company had R$ 50.3 million in cash and equivalents, compared to from R$ 50.1 million as of December 31, 2013. Working capital was R$ 41.6 million at June 30, 2014, compared with R$ 41.9 million as of December 31, 2013. Debt obligations with financial institutions were R$31.6 million as of June 30, 2014, compared with R$23.6 million as of December 31, 2013, which reflected recent investments in opening and remodeling our owned-and-operated stores. Total shareholders' equity was R$ 95.6 million at June 30, 2014, compared to R$ 85.5 million at December 31, 2013.

Recent Events and Legal Issues

In the first half of 2014, the company's subsidiary received a notice from the Brazilian tax authorities that it was to be fined an additional R$33 million for the years 2009 to 2011 as a result of tax credits resulting from the 2006 restructuring of Venbo Comercio de Alimentos Ltda ("Venbo.") The tax authorities assert that the restructuring constituted abusive tax planning, and had in 2013 assessed a fine of R$17 million for the years 2007 and 2008.

The company has filed an administrative appeal against each penalty, which believes will take two to three years to resolve. However, there can be no assurance that the company will prevail and that these tax assessments will not have a material impact on its business. Should the fines be upheld, the company plans to take the matter to court, with possibility of being required to post collateral and bear onerous legal costs.

Business Outlook

In 2014, the company expects to continue to incur in a higher level of capital expenditures due to the ongoing level of investment in facilities, advertising and promotion required in order to support the growth of its brands in Brazil and respond to growing competitive pressures in the marketplace by international competitors.

"Brazil's economy continues to be sluggish, with inflation running at about 6.5% and GDP now forecast to grow less than 0.5 % in 2014. Brazil economy is in a pre-recessionary stage, with very low growth and high inflation, leading to a continued drive by the central bank to increase interest rates during the second half of the year. This scenario is worsened by what is anticipated to be a tight presidential race in the October general elections. Rising prices above inflation for food, labor, and leases, high turnover and fierce competition will likely continue to pressure our margins, while the company plans to continue to invest in a high level of marketing and remodeling to support the expansion of our brands in a highly competitive fast food market." Mr. Bomeny said.

"In the near term, we remain very cautious about our outlook and expect significant capital investments. Longer term, we expect that the expansion of our franchised store base will generate strong profitability and operating leverage as additional points of sale come onto the network," Mr. Bomeny concluded.

About Brazil Fast Food Corp.

Brazil Fast Food Corp., through its holding company in Brazil, BFFC do Brasil Participações Ltda. ("BFFC do Brasil", formerly 22N Participações Ltda.), and its subsidiaries, manage one of the largest food service groups in Brazil and franchise units in Angola and Chile. Our subsidiaries are Venbo Comércio de Alimentos Ltda. ("Venbo"), LM Comércio de Alimentos Ltda. ("LM"), PCN Comércio de Alimentos Ltda. ("PCN"), CFK Comércio de Alimentos Ltda. ("CFK", former Clematis Indústria e Comércio de Alimentos e Participações Ltda.), CFK São Paulo Comércio de Alimentos Ltda. ("CFK SP"), MPSC Comércio de Alimentos Ltda. ("MPSC"), DGS Comércio de Alimentos Ltda. ("DGS"), CLFL Comércio de Alimentos Ltda. ("CLFL"), Little Boss Comércio de Alimentos Ltda. ("Little Boss"), Separk Comércio de Alimentos Ltda. ("Separk"), Schott Comércio de Alimentos Ltda. ("Schott"), FCK Franquias e Participações Ltda. ("FCK", former Suprilog Logística Ltda.), Yoggi do Brasil Ltda. ("Yoggi"), Internacional Restaurantes do Brasil S.A. ("IRB"), Aerofood Comércio de Alimentos Ltda ("Aerofood"), Bigburger Caxias Lanchonetes Ltda ("Caxias"), WP Comércio de Alimentos Ltda. ("WP"), DC Américas Comércio de Alimentos ("DC AMERICAS"), Olifreitas Comércio de Alimentos Ltda. IRB and Separk has 40% of its capital held by individuals, including the CEO of IRB.

Safe Harbor Statement

This press release contains forward-looking statements within the meanings of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known or unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those expressed or implied by such forward looking statements. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the disclosures on the Company's website and in the Company's filings with the Securities and Exchange Commission, including the risk factors contained in the Company's previous public disclosures.

--FINANCIAL TABLES FOLLOW-

                                                                            
                                               Three Months Ended June 30,  
                                             ------------------------------ 
                                                  2014            2013      
                                             --------------  -------------- 
                                               (unaudited)   (reclassified) 
  REVENUES FROM RESTAURANTS AND FRANCHISEES                                 
Net revenues from own-operated restaurants   R$      57.521  R$      46.103 
Net revenues from franchisees                        14.328          10.879 
                                             --------------  -------------- 
     TOTAL REVENUES FROM RESTAURANTS AND                                    
                 FRANCHISEES                         71.849          56.982 
                                             --------------  -------------- 
                                                                            
Store Costs and Expenses                            (54.577)        (44.889)
Franchise Costs and Expenses                         (3.363)         (3.724)
Administrative Expenses                              (8.643)         (7.414)
Income from supply agreements                         7.235           7.103 
Other income                                            776             227 
Other Operating Expenses                             (3.829)         (1.576)
Net result of assets sold and impairment of                                 
 assets                                                  44            (434)
                                             --------------  -------------- 
OPERATING INCOME                                      9.492           6.275 
                                             --------------  -------------- 
  Interest Expense                                     (988)           (237)
                                             --------------  -------------- 
NET INCOME BEFORE INCOME TAX                          8.504           6.038 
                                             --------------  -------------- 
  Income taxes                                       (2.078)         (1.683)
                                             --------------  -------------- 
NET INCOME BEFORE NON-CONTROLLING INTEREST            6.426           4.355 
                                             --------------  -------------- 
Net loss attributable to non-controlling                                    
 interest                                               534              58 
                                             --------------  -------------- 
NET INCOMEATTRIBUTABLE TO BRAZIL FAST FOOD                                  
 CORP.                                       R$       6.960  R$       4.413 
                                             ==============  ============== 
                                                                            
NET INCOME PER COMMON SHARE                                                 
  BASIC AND DILUTED                          R$        0,86  R$        0,54 
                                             ==============  ============== 
                                                                            
                                                                            
WEIGHTED AVERAGE COMMON                                                     
  SHARES OUTSTANDING: BASIC AND DILUTED           8.120.501       8.129.437 
                                                                            
                                                                            
                                                                            
                                                Six Months Ended June 30,   
                                             ------------------------------ 
                                                  2014            2013      
                                             --------------  -------------- 
                                               (unaudited)   (reclassified) 
  REVENUES FROM RESTAURANTS AND FRANCHISEES                                 
Net revenues from own-operated restaurants   R$     110.202  R$      92.522 
Net revenues from franchisees                        28.191          22.739 
                                             --------------  -------------- 
     TOTAL REVENUES FROM RESTAURANTS AND                                    
                 FRANCHISEES                        138.393         115.261 
                                             --------------  -------------- 
                                                                            
Store Costs and Expenses                           (106.981)        (90.400)
Franchise Costs and Expenses                         (7.114)         (7.308)
Administrative Expenses                             (16.812)        (14.966)
Income from supply agreements                        13.003          13.549 
Other income                                          1.359             374 
Other Operating Expenses                             (5.603)         (2.588)
Net result of assets sold and impairment of                                 
 assets                                                (126)          2.596 
                                             --------------  -------------- 
OPERATING INCOME                                     16.119          16.518 
                                             --------------  -------------- 
  Interest Expense                                   (2.042)           (320)
                                             --------------  -------------- 
NET INCOME (LOSS) BEFORE INCOME TAX                  14.077          16.198 
                                             --------------  -------------- 
  Income taxes                                       (3.290)         (4.769)
                                             --------------  -------------- 
NET INCOME BEFORE NON-CONTROLLING INTEREST           10.787          11.429 
                                             --------------  -------------- 
Net loss attributable to non-controlling                                    
 interest                                               760            (270)
                                             --------------  -------------- 
NET INCOME ATTRIBUTABLE TO BRAZIL FAST FOOD                                 
 CORP.                                       R$      11.547  R$      11.159 
                                             ==============  ============== 
                                                                            
NET INCOME PER COMMON SHARE                                                 
  BASIC AND DILUTED                          R$        1,42  R$        1,37 
                                             ==============  ============== 
                                                                            
                                                                            
WEIGHTED AVERAGE COMMON                                                     
  SHARES OUTSTANDING: BASIC AND DILUTED           8.123.517       8.129.437 
                                                                            
                                                                            
                                                                            
                                                June, 30      December 31,  
                                             --------------  -------------- 
                                                  2014            2013      
                                             --------------  -------------- 
                                               (unaudited)                  
                   ASSETS                                                   
CURRENT ASSETS:                                                             
  Cash and cash equivalents                  R$      50.302  R$      50.083 
  Inventories                                         3.407           3.090 
  Accounts receivable                                33.756          31.760 
  Prepaid expenses                                    1.709             747 
  Advances to suppliers                               5.074           2.962 
  Bob's Marketing fund credits                            -             717 
  Other current assets                                5.164           3.761 
                                             --------------  -------------- 
    TOTAL CURRENT ASSETS                             99.412          93.120 
                                             --------------  -------------- 
                                                                            
NON-CURRENT ASSETS:                                                         
                                                                            
Other receivables and other assets                   15.868          13.118 
Deferred tax asset, net                              10.644          10.644 
Goodwill                                              1.121           1.121 
Property and equipment, net                          58.848          47.240 
Intangible assets, net                               13.078          13.463 
                                             --------------  -------------- 
    TOTAL NON-CURRENT ASSETS                         99.559          85.586 
                                             --------------  -------------- 
                                                                            
                                             --------------  -------------- 
    TOTAL ASSETS                             R$     198.971  R$     178.706 
                                             ==============  ============== 
                                                                            
                                                                            
                                                June, 30      December 31,  
                                             --------------  -------------- 
                                                  2014            2013      
                                             --------------  -------------- 
                                               (unaudited)                  
    LIABILITIES AND SHAREHOLDERS' EQUITY                                    
                                                                            
CURRENT LIABILITIES:                                                        
  Loans and financing                        R$      16.241  R$      12.816 
  Accounts payable and accrued expenses              13.563          13.941 
  Payroll and related accruals                        9.389           6.501 
  Taxes                                               7.170           7.884 
  Current portion of deferred income                  8.265           7.537 
  Current portion of litigations and                                        
   reassessed taxes                                   2.321           2.381 
  Other current liabilities                             856             144 
                                             --------------  -------------- 
    TOTAL CURRENT LIABILITIES                        57.805          51.204 
                                             --------------  -------------- 
                                                                            
                                                                            
  Deferred income, less current portion               7.716           8.877 
  Loans and financing, less current portion          15.396          10.744 
  Litigations and reassessed taxes, less                                    
  current portion                                    20.157          20.190 
  Other liabilities                                   2.292           2.170 
                                             --------------  -------------- 
    TOTAL NON-CURRENT LIABILITIES                    45.561          41.981 
                                             --------------  -------------- 
                                                                            
                                                                            
                                             --------------  -------------- 
    TOTAL LIABILITIES                               103.366          93.185 
                                             --------------  -------------- 
                                                                            
SHAREHOLDERS' EQUITY:                                                       
  Preferred stock, $.01 par value, 5,000                                    
   shares authorized; no shares issued                    -               - 
  Common stock, $.0001 par value, 12,500,000                                
   shares authorized; 8,472,927 shares                                      
   issued for both 2014 and 2013; and                                       
   8,120,137 and 8,129,437 shares                                           
   outstanding for 2014 and 2013                          1               1 
  Additional paid-in capital                         61.148          61.148 
  Treasury Stock (352,790 and 343,490)               (2.430)         (2.060)
  Retained Earnings                                  34.997          23.450 
  Accumulated comprehensive loss                     (2.102)         (1.769)
                                             --------------  -------------- 
TOTAL SHAREHOLDERS' EQUITY                           91.614          80.770 
                                             --------------  -------------- 
  Non-Controlling Interest                            3.991           4.751 
                                             --------------  -------------- 
TOTAL EQUITY                                         95.605          85.521 
                                             --------------  -------------- 
                                                                            
                                             --------------  -------------- 
    TOTAL LIABILITIES AND EQUITY             R$     198.971  R$     178.706 
                                             ==============  ============== 
                                                                            
                                                                            
                                                                            
                                                Six Months Ended June, 30   
                                             ------------------------------ 
                                                  2014            2013      
                                             --------------  -------------- 
CASH FLOW FROM OPERATING ACTIVITIES:           (unaudited)                  
NET INCOME BEFORE NON-CONTROLLING INTEREST   R$      10.787  R$      11.429 
Adjustments to reconcile net income to cash                                 
 provided by (used in) operating activities:                                
                                                                            
  Depreciation and amortization                       2.629           3.835 
  (Gain) Loss on assets sold, net                       170          (2.596)
  Deferred income tax                                     -             104 
                                                                            
Changes in assets and liabilities:                                          
  (Increase) decrease in:                                                   
    Accounts receivable                              (1.996)         (1.545)
    Inventories                                        (317)            251 
    Prepaid expenses, advances to suppliers                                 
     and other current assets                        (3.760)            221 
    Other assets                                     (2.750)            635 
  (Decrease) increase in:                                                   
    Accounts payable and accrued expenses              (378)         (1.345)
    Payroll and related accruals                      2.888           2.619 
    Taxes                                              (714)         (3.609)
    Deferred income                                    (433)           (540)
    Litigations and reassessed taxes                    (93)         (1.194)
    Other liabilities                                   834            (439)
                                             --------------  -------------- 
                                                                            
      CASH FLOWS PROVIDED BY (USED IN)                                      
       OPERATING ACTIVITIES                           6.867           7.826 
                                             --------------  -------------- 
                                                                            
CASH FLOW FROM INVESTING ACTIVITIES:                                        
Purchase of Company's share                            (370)         (6.174)
Additions to property and equipment, net of                                 
 proceed of sales                                   (13.567)              - 
                                                                            
                                             --------------  -------------- 
                                                                            
      CASH FLOWS USED IN INVESTING                                          
       ACTIVITIES                                   (13.937)         (6.174)
                                             --------------  -------------- 
                                                                            
CASH FLOW FROM FINANCING ACTIVITIES:                                        
Net Borrowings (Repayments) under lines of                                  
 credit                                               8.077           3.271 
                                             --------------  -------------- 
                                                                            
      CASH FLOWS PROVIDED BY (USED IN)                                      
       FINANCING ACTIVITIES                           8.077           3.271 
                                             --------------  -------------- 
                                                                            
EFFECT OF FOREIGN EXCHANGE RATE                        (788)             80 
                                             --------------  -------------- 
                                                                            
NET INCREASE IN CASH AND CASH EQUIVALENTS               219           5.003 
                                                                            
CASH AND CASH EQUIVALENTS AT BEGINNING OF                                   
 PERIOD                                              50.083          32.062 
                                             --------------  -------------- 
                                                                            
CASH AND CASH EQUIVALENTS AT END OF PERIOD   R$      50.302  R$      37.065 
                                             ==============  ============== 
                                                                            
                                                                            
                                               Three Months Ended June 30,  
                                             ------------------------------ 
                                                  2014            2013      
                                             --------------  -------------- 
                                                                            
NET INCOME                                   R$       6.960  R$       4.413 
  Interest expenses, Monetary and Foreign                                   
   exchange loss                                        443              79 
  Income taxes                                        2.078           1.683 
  Depreciation and amortization                       1.983           1.520 
                                             --------------  -------------- 
EBITDA                                       R$      11.464  R$       7.694 
                                             --------------  -------------- 
                                                                            
                                                                            
                                                                            
                                                 Six Months Ended June 30,  
                                               -----------------------------
                                                    2014           2013     
                                               -------------- --------------
                                                                            
NET INCOME                                     R$      11.550 R$      11.159
  Interest expenses, Monetary and Foreign                                   
   exchange loss                                        1.202             57
  Income taxes                                          3.290          4.633
  Depreciation and amortization                         4.111          3.239
                                               -------------- --------------
EBITDA                                         R$      20.153 R$      19.088
                                               -------------- --------------
                                                                            

* The Company Management reviewed the computation of previously disclosure of 2013 EBITDA in order to include the effect of non-controlling interest.

EBITDA represents earnings before net interest expense, income tax provision, depreciation and amortization. Our management believes EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties in evaluating companies in our industry. In addition, our management believes that EBITDA is useful in evaluating our operating performance compared to that of other companies in our industry because the calculation of EBITDA generally eliminates the effects of financing and income taxes and the accounting effects of capital spending, which items may vary for different companies for reasons unrelated to overall operating performance. As a result, our management uses EBITDA as a measure to evaluate the performance of our business. However, EBITDA is not a recognized measurement under generally accepted accounting principles, or GAAP, and when analyzing our operating performance, investors should use EBITDA in addition to, and not as an alternative for, income from operations and net income, each as determined in accordance with GAAP. Not all companies use identical calculations, and our presentation of EBITDA may not be comparable to similarly titled measures of other companies. Furthermore, EBITDA is not intended to be a measure of free cash flow for our management's discretionary use, as it does not consider certain cash requirements such as a tax and debt service payments.

Contact:
Brazil Fast Food Corp. 
Ricardo Figueiredo Bomeny
CEO 
Phone: +1-55-21-2536-7501 (Brazil)  
Email: [email protected] 
URL: www.bffc.com.br 

Crocker Coulson
Phone: +1-323-270-8886
Email: [email protected]

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SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...