|By Marketwired .||
|November 13, 2012 07:19 PM EST||
CALGARY, ALBERTA -- (Marketwire) -- 11/14/12 -- Tesla Exploration Ltd. ("Tesla" or the "Company") (TSX:TXL) today announces its 2012 third quarter operating and financial results.
Selected Highlights ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (000s, except per share data) Three months ended Nine Months Ended (unaudited) September 30 September 30 2012 2011 Change 2012 2011 Change $ $ % $ $ % ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Revenue 28,853 47,237 (39) 149,936 163,130 (8) Revenue excluding reimbursables 24,918 38,035 (34) 126,739 113,548 12 Gross margin(1) 5,826 9,393 (38) 40,060 28,069 43 As a % of revenue excluding reimbursables 23% 25% 32% 25% Net earnings (loss) (3,903) (332) n/m 6,101 (143) n/m Per share - basic (0.17) (0.01) n/m 0.27 (0.01) n/m EBITDA (2) 1,311 5,375 (76) 25,620 16,439 56 Per share - basic 0.06 0.24 (76) 1.13 0.72 56 Cash flow from operations (3) 2,317 5,642 (59) 25,130 16,344 54 Per share - basic 0.10 0.25 (59) 1.11 0.72 54 Weighted average shares outstanding for the period - basic 22,701 22,795 n/m 22,725 22,795 n/m Capital expenditures 2,214 1,852 20 23,667 8,235 187 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- September December As at 30 31 2012 2011 Change $ $ % ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Working capital 828 10,411 (92) Total assets 117,412 141,088 (17) Total long-term borrowings (4) 20,269 29,073 (30) Equity 63,186 57,993 9 1. Gross margin is defined as gross profit before depreciation and amortization. Gross margin is a measure that does not have a meaning prescribed under IFRS in Canada and accordingly, may not be comparable to similar measures used by other companies. 2. EBITDA is defined as income before interest, taxes, depreciation, amortization and impairments, gains or losses on foreign exchange, gains or losses on sales of capital assets, bad debt provisions and stock- based compensation. EBITDA and EBITDA per share are presented because they are frequently used by securities analysts and others for evaluating companies and their ability to service debt. EBITDA is a measure that does not have any standardized meaning prescribed under IFRS in Canada and accordingly, may not be comparable to similar measures used by other companies. The Company is consistent with its calculation of EBITDA year over year. 3. Cash flow from operations is defined as "Cash provided by operating activities before changes in non-cash working capital." Cash flow from operations and cash flow from operations per share are measures that provide shareholders and potential investors with additional information regarding the Company's liquidity and its ability to generate funds to finance its operations. Management utilizes these measures to assess the Company's ability to finance operating activities and capital expenditures. Cash flow from operations and cash flow from operations per share are not measures that have any standardized meaning prescribed by IFRS in Canada, and accordingly, may not be comparable to similar measures used by other companies. The Company is consistent with its calculation of cash flow from operations year over year. 4. Includes capital lease obligations and long-term debt, including current portions. Third Quarter Highlights: -- Tesla USA successfully utilized its recently purchased 10,000 stations (30,000 channels) of wireless multi-component seismic acquisition system ("Hawk") throughout the third quarter of 2012 under the previously announced agreement with a multi-client geophysical company. -- Tesla Offshore significantly improved revenues from the comparative quarter benefitting from work on up to four geophysical vessels, most of which was on large scale day rate projects. This supplemented the historically strong summer construction season supporting client operations on up to 12 vessels. -- Tesla Offshore expanded its operations outside of the Gulf of Mexico, its historical operating area, with special construction projects in Alaska, Israel and Argentina. -- The Company hired and appointed Nathaniel Usher as Director of Geoscience for Tesla Offshore. Mr. Usher previously worked for ARCO/BP for 30 years and will assist Tesla Offshore in optimizing use of state of the art technology in geophysical survey operations, including the Autonomous Underwater Vehicle ("AUV") service line, and to further the development of geohazards interpretation services for clients worldwide. Subsequent to September 30, the Company approved a $6 million capital expenditure to acquire a Bluefin AUV which is expected to be operational by July 2013. -- Tesla Canada operated two crews periodically during the historically slower summer period including projects in Ontario and Quebec. Further, Tesla built a significant backlog in Canada for the fourth quarter of 2012 and the first quarter of 2013 including work commitments for the Company's 13,000 stations (39,000 channels) of three-component ("3C") recording equipment and the 10,000 station Hawk system. -- Tesla International operated a crew in the UK and Denmark on hydrocarbon and mineral projects throughout the quarter. Tesla International also secured land and marine projects in Tanzania and the Democratic Republic of the Congo ("DRC") that will operate in the fourth quarter of 2012 and the first quarter of 2013.
Third Quarter Financial Results:
The Company's consolidated revenues including reimbursables decreased 39% in the third quarter of 2012 compared to the third quarter of 2011 while the Company's revenue excluding reimbursables decreased 35%. Significant declines in activity levels for Tesla International and Tesla Trinidad were only partially offset by an improvement in activity levels for Tesla Offshore. There were also slight declines in activity for Tesla Canada and Tesla USA. Tesla International was negatively impacted by a reduced level of activity in Africa during the third quarter of 2012 whereas revenues were generated from operations for two crews in Africa during the third quarter of 2011. Activity levels in the UK and Europe during the third quarter of 2012 were similar to those in the third quarter of 2011. Tesla Trinidad completed the Guayaguayare program in April of 2012. As such, no revenues were generated in the third quarter of 2012. Significant revenues were generated from this project in the third quarter of 2011 relating to front- end operations. Tesla Offshore's geophysical and construction activity levels both improved in the third quarter of 2012 compared to the third quarter of 2011 when operations were limited with the continued negative impact of the Macondo oil spill on activity levels in the Gulf. The third quarter remained slow for Tesla Canada due to limited activity for the industry with continued low natural gas prices reducing the number of summer programs. Several programs were also delayed into the fourth quarter. Tesla USA's third quarter activity levels increased significantly from the second quarter of 2012 with two crews operational including programs for Tesla USA's recently purchased wireless multi-component "Hawk" system under an extended seismic services agreement with a multi-client geophysical company. In the third quarter of 2011, Tesla USA operated four crews with a significantly higher level of third party contractor revenues.
Gross margin dropped in the third quarter of 2012 compared to the third quarter of 2011 due to declines in margin from Tesla Canada and Tesla International partially offset by improvements from Tesla USA and Tesla Offshore. Tesla USA margins improved despite the slight drop in revenues benefitting from the utilization of the Hawk system and a significant reduction in rental costs. Tesla Offshore's gross margin benefitted with the increase in activity. Margins from Tesla Canada decreased due to a reduction in revenues from the comparative quarter along with an increase in overhead costs. Tesla International's gross margin declined with the lack of work in Africa. Gross margin as a percentage of total revenue (including reimbursables) remained at 20% in the third quarter of 2012 consistent with the third quarter of 2011. Current quarter gross margin percentage benefitted from improved results for Tesla USA, an increased contribution from Tesla Offshore, a significant decrease in flow-through reimbursables associated with Tesla USA revenues and the reimbursable nature of third party contractor costs incurred during the front end phase of the Trinidad operations in the third quarter of 2011. Gross margin as a percentage of revenue (excluding reimbursables) declined slightly quarter over quarter.
The Company's EBITDA in the third quarter of 2012 decreased compared to the third quarter of 2011 due to the decline in absolute gross margin along with an increase in general and administrative costs across most segments. The Company's consolidated net loss increased in the third quarter of 2012 exceeding the consolidated net loss in the third quarter of 2011 due to the reduced EBITDA, increased depreciation related to the Hawk system and reduced gains from disposals and foreign exchange. This was partially offset by a reduction in tax expense.
The Company's working capital decreased $5.3 million during the quarter to $0.8 million including a net cash deficit of $5.9 million. Cash and operating lines were required to fund working capital requirements in certain jurisdictions, repay $2.4 million of regular finance leases and related interest and fund $2.4 million of capital expenditures during the third quarter of 2012.
Total long-term borrowings were reduced by $2.1 million during the quarter to $20.3 million. At September 30, 2012, the Company had $43.2 million of unused committed bank credit and lease facilities.
Shareholders' equity decreased $4.7 million to $63.2 million during the quarter due to the loss incurred along with a decrease in accumulated other comprehensive income with the strengthening of the Canadian dollar against the US dollar functional currency of the Company's US subsidiaries. This was partially offset by the exercise of options and an increase in contributed surplus relating to share-based payment charges.
North America Land Operations
The Company has seen a recent drop in demand for fall and winter programs in Canada. Tesla Canada expects a comparable level of activity to that experienced in late 2011 and anticipates peaking at five crews during the fourth quarter of 2012. However, significant winter programs have been cancelled due to foreign investment complications for a major client. Tesla Canada now plans to operate six crews during the first quarter of 2013 (down from eight), with a continued focus on 3C technology for oilsands projects and shale plays in western Canada. Tesla Canada will also utilize the Company's Hawk system on a large program throughout the first quarter of 2013. Committed crew rates remain strong and reduced rental commitments due to utilization of the Company's expanded channel count should benefit margins. However, these benefits may be partially offset by depressed rates on any future projects due to excess capacity created by project cancellations across the industry. Tesla is working to secure appropriate personnel in a competitive environment for the busy winter season.
Tesla USA continues to utilize the 10,000 station Hawk system on 2D and 3D programs under an agreement with a multi-client geophysical company. Production is in line with planned results and should continue to generate improved margins from those realized under current industry metrics. This crew expects to continue work under the agreement for the remainder of 2012 at which point the Hawk system will be moved to Canada for committed work throughout the first quarter of 2013. The Hawk system will be returned to the US for early April 2013 to continue work with the multi-client geophysical company. Tesla USA is pursuing work for a second crew. The slow increase in natural gas pricing continues to be reflected within the industry by increased activity levels focused on oil and liquids rich shale plays such as the Bakken, Utica (eastern Ohio) and Marcellus (western Pennsylvania and West Virginia) which may lead to an additional multi-component 3D recording crew at the end of the second quarter of 2013. Activity in the Denver-Julesburg ("DJ") Basin has been slower than projected but is expected to increase in the second quarter of 2013. Pricing of services continues to be the driving factor in this competitive market with requirements for higher channel counts, wireless recording systems and third-party multi-client programs driving the demand for services.
Tesla International's UK and European crew has seen a sustained demand for acquisition services in both the hydrocarbon and minerals sectors. Indicators suggest that this demand will be maintained. This crew should be fully utilized for the remainder of the year and has secured commitments for projects during parts of 2013. Management is pursuing opportunities to fill gaps in the current 2013 work schedule.
Tesla International is currently in the mobilization process for a land and marine project in Tanzania with operational activity expected to begin shortly. This project will last well into the first quarter of 2013. Tesla International is also mobilizing for a land and marine project in the DRC. This project is a continuation of work performed in late 2011 and early 2012. The land portion of this program is expected to begin in December with the larger marine portion to follow once the Tanzania marine program is completed during the first quarter of 2013.
Tesla International is currently maintaining equipment in a Duty Free Zone near Djibouti, with vibrosies units in Oman, in order to facilitate efficient mobilization to potential projects in the region. The Company is currently pursuing projects in East Africa and surrounding areas to utilize this equipment.
Bid activity remains busy with a multitude of prospective work programs in the UK and Europe. Key areas of East Africa and North Africa are expected to see a return to greater activity following political stabilization and the interest of some of the major operators in developing their activities in the area. Tesla International expects to be successful in obtaining additional work from both of these opportunities and from exploiting some potential new areas of activity to extend its current backlog. Tesla International also recently opened a branch office in Islamabad to explore opportunities in the region.
The UK technical services office remains steady with a number of processing and interpretation projects recently awarded and underway with full utilization of capacity expected to continue. The Jakarta processing office has recently been awarded some sizable projects that will keep the office fully utilized through early 2013. Additional opportunities continue to be pursued to maintain backlog.
Tesla continues to investigate opportunities in South America, specifically Colombia, Ecuador and Suriname. Relationships with exploration companies are being developed with Tesla's capabilities and experience in comparable terrains and environments being highlighted for potential programs in the region.
Tesla Offshore is benefitting from increased activity levels in the Gulf of Mexico. Tesla Offshore operated two geophysical vessels on large scale day rate exploration projects through the early part of the fourth quarter of 2012. With winter coming, these contracts will be put on hold and continued in the spring of 2013. Tesla Offshore is utilizing a deep tow system aboard a third geophysical vessel and will remain operational into November on day rate projects.
The central and eastern Gulf of Mexico lease sale was held on June 20, 2012. This was positive news for Tesla Offshore. New lease sales generally lead to an increase in geophysical operations as operators require geophysical surveys for the purpose of securing drilling permits and evaluating new lease properties. In addition, hurricane Isaac's path through the Gulf of Mexico has resulted in government mandated survey requirements for operators in certain regions of the Gulf of Mexico. Tesla Offshore has obtained a healthy backlog of both turnkey and day rate work as a direct result of the lease sale and hurricane Isaac that should keep multiple vessels occupied throughout the winter months.
Construction activity remained strong in the early part of the fourth quarter but is now in the process of winding down heading into the historically slower winter months.
Tesla Offshore has increased the number of project tender responses and the amount of attention and effort put toward opportunities outside the Gulf of Mexico. Tesla Offshore continues work on a multi-year project in Alaska and a special project in Israel. As long-term clients expand into these and other areas, Tesla Offshore is configuring systems and staff to profitably provide services to support their operations.
Continuing this growth plan, Tesla Offshore recently committed to the purchase of a $6 million Bluefin AUV which has the ability to acquire high resolution ocean bottom data. Tesla Offshore expects the AUV to be delivered and operational by July 2013. This will open new markets for Tesla Offshore related to deep water oil and gas field development, along with governmental, environmental and academic applications. Tesla Offshore plans to operate the AUV not only in the Gulf of Mexico, where the US Government now requires data across most of the deep water Gulf of Mexico blocks to be acquired by an AUV, but on a global basis. Tesla Offshore hired Nathaniel Usher (as noted above) and has reassigned George Loy as General Manager of AUV Operations and Special Projects, to spearhead the implementation of this new technology. George Loy's replacement in the Prairieville office will be Jay Northcutt, who also has AUV experience from his years of managing those operations for one of our competitors. The AUV team is also in the process of identifying other AUV specialists, to support field operations.
Certain information set forth in this press release, including management's assessment of the Company's future plans and operations, contains forward-looking statements, which are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "intends", "continues", "estimates", "objective", "ongoing", "may", "will", "should", "might", "plans" and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements are based on current expectations, estimates and projections that involve a number of known and unknown risks and uncertainties, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These include, but are not limited to, the risks outlined in the "Business Risks" section of the Company's MD&A for the three and nine months ended September 30, 2012.
The information contained in this press release should not be considered all-inclusive as it excludes changes that may occur in general economic, political and environmental conditions. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Investors are cautioned against attributing undue certainty to forward-looking statements. The forward-looking information and statements contained in this press release speak only as of the date hereof and, subject to its obligations under applicable law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements if conditions or opinions should change.
Tesla provides geophysical and related services in Canada, internationally through its wholly owned subsidiaries Tesla Exploration International Ltd. and Tesla Exploration Trinidad Ltd., and in the United States through Tesla Exploration Inc. and Tesla Offshore LLC. Since the Company's inception in 2000, Tesla has grown both organically and through acquisitions funded by retained earnings and prudent levels of borrowing, from a Canadian focused land seismic business to a global provider of a broad suite of geophysical and related services. Tesla trades on the TSX under the symbol "TXL".
Requests for shareholder information should be directed to Mr. Richard Habiak or Mr. Stuart Craven.
Tesla Exploration Ltd.
Mr. Richard Habiak
President and CEO
Tesla Exploration Ltd.
Mr. Stuart Craven
Vice President and CFO
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
May. 27, 2015 09:00 PM EDT Reads: 4,878
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT.
May. 27, 2015 09:00 PM EDT Reads: 6,375
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 experiences grounded in people's real needs and desires.
May. 27, 2015 09:00 PM EDT Reads: 5,987
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!
May. 27, 2015 07:00 PM EDT Reads: 5,938
SYS-CON Events announced today that MetraTech, now part of Ericsson, 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. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
May. 27, 2015 06:45 PM EDT Reads: 1,301
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will addresses this very serious issue of profound change in the industry.
May. 27, 2015 06:00 PM EDT Reads: 890
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust IT industrialization – allowing customers to provide amazing user experiences with optimized IT per...
May. 27, 2015 05:30 PM EDT Reads: 704
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
May. 27, 2015 04:00 PM EDT Reads: 6,404
The world is at a tipping point where the technology, the device and global adoption are converging to such a point that we will see an explosion of a world where smartphone devices not only allow us to talk to each other, but allow for communication between everything – serving as a central hub from which we control our world – MediaTek is at the heart of both driving this and allowing the markets to drive this reality forward themselves. The next wave of consumer gadgets is here – smart, connected, and small. If your ambitions are big, so are ours. In his session at @ThingsExpo, Jack Hu, D...
May. 27, 2015 12:49 PM EDT Reads: 478
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
May. 27, 2015 12:00 PM EDT Reads: 1,655
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data retrieval. They can easily adapt to new data sets and provide access to both structured and unstruc...
May. 27, 2015 12:00 PM EDT Reads: 1,855
We’re entering a new era of computing technology that many are calling the Internet of Things (IoT). Machine to machine, machine to infrastructure, machine to environment, the Internet of Everything, the Internet of Intelligent Things, intelligent systems – call it what you want, but it’s happening, and its potential is huge. IoT is comprised of smart machines interacting and communicating with other machines, objects, environments and infrastructures. As a result, huge volumes of data are being generated, and that data is being processed into useful actions that can “command and control” thi...
May. 27, 2015 11:51 AM EDT Reads: 473
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...
May. 27, 2015 11:30 AM EDT Reads: 3,947
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. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be
May. 27, 2015 11:15 AM EDT Reads: 2,030
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
May. 27, 2015 10:30 AM EDT Reads: 5,179
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fil...
May. 27, 2015 10:00 AM EDT Reads: 1,820
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
May. 27, 2015 09:30 AM EDT Reads: 6,587
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
May. 27, 2015 09:30 AM EDT Reads: 4,288
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
May. 27, 2015 07:30 AM EDT Reads: 5,513
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
May. 27, 2015 04:30 AM EDT Reads: 4,025