Welcome!

Cloud Expo Authors: Yeshim Deniz, Liz McMillan, Pat Romanski, Elizabeth White, Roger Strukhoff

News Feed Item

WVT Communications Group Reports Third Quarter 2012 Financial Results

Unified Communications Revenues Increased 38%; Conference Call Scheduled for November 12

WARWICK, NY -- (Marketwire) -- 11/09/12 -- Warwick Valley Telephone Company (NYSE MKT: WVT) (referred to as WVT Communications Group or the Company), the parent company of leading cloud communications pioneers, today announced financial results for its third quarter ended September 30, 2012. Financial results and recent corporate development highlights include:

  • Cloud or unified communications ("UC") revenues net of eliminations were $3.6 million in third quarter 2012, an increase of 38% from $2.6 million compared to the same period last year and 11% from the second quarter 2012, while revenue from our Telephone segment declined 19% to $3.4 million
  • Total third quarter revenues increased 3% over the same period last year
  • At over 51% of third quarter consolidated revenues, UC is now the Company's largest segment
  • Gross profit was $3.6 million in third quarter 2012, an increase of 29% from $2.8 million in third quarter 2011 and up by 3.5% from $3.5 million in the second quarter 2012
  • Gross profit as a percentage of revenues increased to 51.4% in third quarter 2012, from 41.1% in third quarter 2011 and 50.1% in second quarter 2012
  • The Company received $3.25 million in cash distributions from Orange County-Poughkeepsie Limited Partnership ("O-P") investment, which were recorded as other income in the third quarter of 2012
  • During the third quarter 2012, we recorded a net loss of $(922,000), or $(0.16) per common share, a lost reduction of nearly 50% from the same period last year. The Company declared quarterly cash dividend of $0.27 per common share for the third quarter of 2012
  • Transition and rebranding as leading cloud-based UC provider bolstered by new listing on NYSE MKT with ticker symbol WVT which became effective on November 6, 2012, and a successful start to transforming of the parent company into an unregulated holding company on November 1, 2012.
  • Cloud-based UC Solutions Headlines:
    • Grand opening of first Innovation Center for potential customers to experience Alteva unified communications solutions, located in new UC headquarters in Philadelphia
    • Alteva received 2012 Cloud Computing Excellence Award with Hosted VoIP Communications honored for innovation
    • Alteva received 2012 Internet Telephony Excellence Award
    • Alteva Hosted UC Services named Communications Solutions Product of the Year Award by TMC
    • Ranked #9 in North America Hosted IP Telephony/UC Services Market by Frost & Sullivan*
    • Provisioning of new customers for UC services continues at record levels

Third Quarter 2012 Results

Revenues for the three-month period ended September 30, 2012 increased 3% to $7.1 million, compared to $6.8 million for the same period in 2011.

In the first quarter of 2012, the Company realigned its segment reporting and management structure as a result of the Alteva acquisition in 2011. The Company's segments are strategic business units that offer different products and services and are now managed as Unified Communications ("UC") or Cloud Communications services, and Telephone. Revenues discussed in this press release for periods prior to the first quarter of 2012 have been presented on the basis of the new segment reporting.

Revenues from UC services, net of eliminations, were $3.6 million in the third quarter of 2012, an increase of 38% from $2.6 million in the prior year period. As a percentage of consolidated revenue, the UC segment contributed over 51% of revenues in the third quarter of 2012 as compared with 38% in the same period of the prior year and 47% in the second quarter of 2012. The increase in UC revenues of nearly $1 million was primarily attributable to the full quarter impact of the Company's acquisition of Alteva on August 5, 2011, and organic unified communications services revenue growth.

Telephone services revenues net of eliminations were $3.4 million in the third quarter of 2012, a decrease from $4.2 million in the corresponding 2011 period. The Telephone segment contributed 49% of revenues in the third quarter as compared with 62% in the third quarter of 2011 and 53% in the second quarter of 2012. The decrease was primarily due to lower Universal Service Fund revenues and the termination of the Nation Rural Telecommunications Cooperative ("NRTC") contract as of August 15, 2011. The termination of the NRTC contract changed our DIRECTV services revenue from monthly recurring to one based on sales commissions and reimbursements for installation costs and losses due to wireless substitution and competition for other triple play service providers offset by an increase in access lines rates.

Gross profit increased by 29% to $3.6 million in the third quarter of 2012 from $2.8 million in the same period of 2011. Gross profit as a percentage of revenues increased to 51.4% in the third quarter 2012 from 41.1% in the 2011 period and 50.1% in the second quarter of 2012. The improvement in gross profit in dollars as well as on a margin basis primarily reflects (i) the substantial increase in revenues contributed by the UC segment in the third quarter of 2012 compared to the same period last year, (ii) and our ability to leverage our infrastructure.

Selling, general and administrative ("SG&A") expenses in the third quarter of 2012 increased to $6.2 million from $4.9 million in the corresponding period of 2011. The 27% increase in SG&A expenses reflects the additional operating expenses for Alteva as well as the current and ongoing requirements to support the Company's Cloud Communications growth strategies. Included in SG&A for the three months ended September 30, 2012 was $550,000 of nonrecurring charges. These charges were primarily professional fees and other costs related to the acquisition of Alteva and the corporate restructuring.

Total other income for the three-month period ended September 30, 2012 was $2.7 million as compared to $1.3 million for the same period in 2011. This increase is primarily due to O-P distributions of $3.25 million in the third quarter of 2012 as compared with $1.3 million in the prior year period which was recorded based on the amount in excess of the Company's share of the O-P earnings for that period as opposed to being applied to the investment account.

For the three-month period ended September 30, 2012, the Company had a net loss of $(922,000), or $(0.16) per basic and diluted share, compared to a net loss of $(1.7) million, or $(0.31) per basic and diluted share, for the three-month period ended September 30, 2011.

Dividends

The Board of Directors of WVT Communications Group declared a regular quarterly dividend of $0.27 per share on the Company's common shares. The dividend was paid on September 28, 2012 to shareholders of record as of September 18, 2012. In addition, the Board of Directors declared the regular quarterly dividend of $1.25 per share on the outstanding 5,000 shares of the Company's 5% Preferred Shares that was paid on September 28, 2012 to shareholders of record as of September 18, 2012. Dividends distributed by the Company are paid using the cash distributions from the O-P.

Management Comments

"WVT Communications Group has made impressive progress toward our goal of transitioning into a highly prominent, fast growing cloud-based Unified Communications platform provider," said Duane W. Albro, the Company's Chief Executive Officer. "UC revenues contributed more than half of our quarterly consolidated revenues for the first time in the Company's history. We are further pleased that our UC platform is well positioned for continued growth in revenue and gross margins. These are some of the business characteristics we sought as we embarked on our transformation.

"In related and supportive initiatives, WVT Communications Group became a holding company on November 1, 2012, and moved its ILEC operations to a wholly-owned subsidiary which is now subject to regulations by telecommunications governing bodies. This is being accompanied by a complete rebranding of the Company that focuses on our cloud UC platform, including the transfer of our common stock to the NYSE MKT on November 6, 2012, with WVT as our new ticker symbol that will reflect, upon shareholder approval, an official name change to WVT Communications Group.

"Our transition has further taken hold with numerous industry accolades. We have won several awards for technology innovation within the Cloud Communications industry and our executives are in high demand for speaking and conference appearances across the country. Industry analysts are taking note of us and business customers are lining up for our services. The numbers of customers in provisioning for our UC services remains at a record high level. While our UC solutions are ideal for most business customers, our efforts to target the middle market segment are showing signs of success. Given our market position and the significant leverage in our operating model, we look forward to capitalizing on the demand for our UC services."

Conference Call

The Company will conduct a conference call to discuss third quarter results on Monday, November 12, 2012, at 9:00 a.m. eastern. Investors and other interested parties can listen to the call by dialing the participant numbers of 877-317-6789 (toll free) or 412-317-6789, no access code required, approximately 10 minutes prior to the start of the conference call. The conference call will also be webcast live on the WVT Communications Group website at www.wvtcg.com.

A replay of this conference call will also be available by dialing 877-344-7529 (toll free) or 412-317-0088, access code: 10016612, beginning 11:00 a.m. eastern on November 12 through December 3, and via the investor relations section of the Company's website.

About WVT Communications Group
WVT Communications Group is a world technology leader in providing cloud-based Unified Communications (UC) solutions for small, medium and enterprise businesses. Founded in 1902, the Company has continued to adapt and remain on the forefront of technology, chiseling its position among the most stable and respected communications vendors around the globe. Moving forward, it is forging the new model that communications providers, large and small, are striving to emulate. WVT Communications Group is merging new innovations, such as those from Alteva and USA Datanet, with proven technology from industry leaders like Microsoft, Cisco, BroadSoft, Panasonic, and Polycom to build the ideal hosting architecture for communications.

Through its USA Datanet (a Hosted VoIP and carrier services provider), Alteva (the nation's ninth largest UC provider), and Warwick Valley Telephone (a highly respected traditional telecom provider turned premier regional broadband company) businesses, WVT Communications Group is enabling businesses of any size to communicate more efficiently with hassle-free communications tools. By overlaying a UC division on its stabile, regional broadband company, WVT Communications Group has positioned itself in front of its peer group of companies and created an evolutionary change in its strategy. With this, the company may offer its residential customers a similar suite of UC applications and services for use in a home environment that its business customers can enjoy. Visit www.wvtcg.com or call 855-U-GO-CLOUD for more information.

All trademarks are the properties of their respective owners.
*Frost & Sullivan Analysis, March 2012

Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements, without limitation, regarding expectations, beliefs, intentions or strategies regarding the future. WVT Communications Group intends that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause WVT Communications Group's actual results, performance or achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the geographic regions in which WVT Communications Group operates; industry capacity; demographic changes; technological changes and changes in consumer demand; the successful integration of WVT Communication Group's acquired businesses; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; legislative proposals relating to the businesses in which WVT Communication Group operates; reduction in cash distributions from the Orange County-Poughkeepsie Limited Partnership; competition; or the loss of any significant ability to attract and retain qualified personnel. Given these uncertainties, current and prospective investors should be cautioned in their reliance on such forward-looking statements. Except as required by law, WVT Communications Group disclaims any obligation to update any such factors or to publicly announce the results of any revision to any of the forward-looking statements contained herein to reflect future events or developments. A more comprehensive discussion of risks, uncertainties and forward-looking statements may be seen in WVT Communications Group's Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.



                      WARWICK VALLEY TELEPHONE COMPANY
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                (Unaudited)
            ($ in thousands except share and per share amounts)


                               Three Months Ended       Nine Months Ended
                                  September 30,           September 30,
                             ----------------------  ----------------------
                                2012        2011        2012        2011
                             ----------  ----------  ----------  ----------

Operating revenues
  Unified Communications     $    3,621  $    2,628  $   10,147  $    5,269
  Telephone                       3,429       4,201      10,870      13,549
                             ----------  ----------  ----------  ----------
  Total operating revenues        7,050       6,829      21,017      18,818

Operating expenses
  Cost of services and
   products (exclusive of
   depreciation and
   amortization expense)          3,428       4,024      10,410      10,215
  Selling, general and
   administrative expenses        6,230       4,883      17,241      12,471
  Depreciation and
   amortization                   1,411       1,365       3,986       4,103
                             ----------  ----------  ----------  ----------
  Total operating expenses       11,069      10,272      31,637      26,789
                             ----------  ----------  ----------  ----------
  Operating loss                 (4,019)     (3,443)    (10,620)     (7,971)

Other income (expense)
  Interest income (expense),
   net                             (123)        (55)       (292)          4
  Income from equity method
   investment                     3,250       1,328       7,771       6,744
  Other income (expense),
   net                             (468)         31        (337)         46
                             ----------  ----------  ----------  ----------
  Total other income
   (expense)                      2,659       1,304       7,142       6,794
                             ----------  ----------  ----------  ----------
  Loss before income taxes       (1,360)     (2,139)     (3,478)     (1,177)

Income taxes benefit               (438)       (450)     (1,094)       (120)
                             ----------  ----------  ----------  ----------
  Net loss                         (922)     (1,689)     (2,384)     (1,057)

Preferred dividends                   6           6          19          19
                             ----------  ----------  ----------  ----------
  Loss applicable to common
   stock                     $     (928) $   (1,695) $   (2,403) $   (1,076)
                             ==========  ==========  ==========  ==========

  Basic loss per share       $    (0.16) $    (0.31) $    (0.42) $    (0.20)
                             ==========  ==========  ==========  ==========
  Basic loss per puttable
   common share              $    (0.16) $    (0.31) $    (0.42) $    (0.20)
                             ==========  ==========  ==========  ==========

  Diluted loss per share     $    (0.16) $    (0.31) $    (0.42) $    (0.20)
                             ==========  ==========  ==========  ==========
  Diluted loss per puttable
   common share              $    (0.16) $    (0.31) $    (0.42) $    (0.20)
                             ==========  ==========  ==========  ==========

Weighted average shares of
 common stock used to
 calculate loss per share
Basic                         5,744,020   5,424,927   5,732,231   5,408,603
                             ==========  ==========  ==========  ==========
Diluted                       5,744,020   5,424,927   5,732,231   5,408,603
                             ==========  ==========  ==========  ==========
Dividends declared per
 common share                $     0.27  $     0.26  $     0.81  $     0.78
                             ==========  ==========  ==========  ==========




                      WARWICK VALLEY TELEPHONE COMPANY
                   CONDENSED CONSOLIDATED BALANCE SHEETS
            ($ in thousands except share and per share amounts)

                                              September 30,   December 31,
                                                  2012            2011
                                             --------------  --------------
Assets                                         (Unaudited)
Current assets
  Cash and cash equivalents                  $        2,559  $        4,575
  Short term investments                                  -             259
  Accounts receivable - net of allowance for
   uncollectibles - $744 and $759 in 2012
   and 2011, respectively                             3,549           2,717
  Other accounts receivable                             240             174
  Materials and supplies                                763             832
  Prepaid expenses                                    1,255             731
  Prepaid income taxes                                2,206           2,715
  Deferred Income taxes                                 405             405
                                             --------------  --------------
Total current assets                                 10,977          12,408
                                             --------------  --------------

  Property, plant and equipment, net                 25,864          25,425
  Intangible assets, net                              8,287           8,605
  Investments                                             -           1,979
  Goodwill                                            9,121           9,121
  Other assets                                          416             378
                                             --------------  --------------

  Total assets                               $       54,665  $       57,916
                                             ==============  ==============
Liabilities and Shareholders' Equity
Current liabilities
  Short-term borrowings                      $       12,095  $        5,600
  Current maturities of long-term debt                    -           1,139
  Accounts payable                                    1,292           1,715
  Amounts due in connection with business
   acquisition                                          488           2,377
  Derivative liability in connection with
   business acquisition                                   -             131
  Advance billing and payments                          389             390
  Accrued taxes                                         684             521
  Pension and postretirement benefit
   obligations                                          622             622
  Other accrued expenses                              3,907           3,398
                                             --------------  --------------
Total current liabilities                            19,477          15,893
                                             --------------  --------------

  Amounts due in connection with business
   acquisition                                            -             472
  Deferred income taxes                               1,575           1,358
  Pension and postretirement benefit
   obligations                                        9,463           9,915
                                             --------------  --------------

  Total liabilities                                  30,515          27,638
                                             --------------  --------------

Commitments and contingencies

Puttable common stock, $.01 par value,
 25,148 shares issued and outstanding at
 September 30, 2012 and 272,479 shares
 issued and outstanding at December 31, 2011            369           4,125
Shareholders' equity
  Preferred shares - $100 par value;
   authorized and issued shares of 5,000;
   $0.01 par value; authorized and unissued
   shares of 10,000,000                                 500             500
  Common stock - $0.01 par value; authorized
   shares of 10,000,000 Issued 6,556,081 and
   6,217,839 shares at September 30, 2012
   and December 31, 2011, respectively                   66              62
  Treasury stock - at cost, 788,825 and
   735,391 shares of common stock at
   September 30, 2012 and December 31, 2011,
   respectively                                      (7,049)         (6,262)
  Additional paid in capital                         11,310           6,191
  Accumulated other comprehensive loss               (4,590)         (4,979)
  Retained earnings                                  23,544          30,641
                                             --------------  --------------

  Total shareholders' equity                         23,781          26,153
                                             --------------  --------------

  Total liabilities and shareholders' equity $       54,665  $       57,916
                                             ==============  ==============


More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Cloud Expo Latest Stories
With the explosion of the cloud, more businesses are transitioning to a recurring revenue model to generate reliable sales, grow profits, and open new markets. This opportunity requires businesses to get to market quickly with the pricing and packaging options customers want. In addition, you will want to take advantage of the ensuing tidal wave of data to more effectively upsell, cross-sell and manage your customers. All of this is possible, but only with the right approach. At 15th Cloud Expo, Brendan O'Brien, Co-founder at Aria Systems and the inventor of cloud billing panelists, will lead a panel discussion on what it takes to launch and manage a successful recurring revenue business. The panelists will offer their insights about what each department will need to consider, from financial management to line of business and IT. The panelists will also offer examples from their success in recurring revenue with companies such as Audi, Constant Contact, Experian, Pitney-Bowes, Teleko...
Planning scalable environments isn't terribly difficult, but it does require a change of perspective. In his session at 15th Cloud Expo, Phil Jackson, Development Community Advocate for SoftLayer, will broaden your views to think on an Internet scale by dissecting a video publishing application built with The SoftLayer Platform, Message Queuing, Object Storage, and Drupal. By examining a scalable modular application build that can handle unpredictable traffic, attendees will able to grow your development arsenal and pick up a few strategies to apply to your own projects.
Come learn about what you need to consider when moving your data to the cloud. In her session at 15th Cloud Expo, Skyla Loomis, a Program Director of Cloudant Development at Cloudant, will discuss the security, performance, and operational implications of keeping your data on premise, moving it to the cloud, or taking a hybrid approach. She will use real customer examples to illustrate the tradeoffs, key decision points, and how to be successful with a cloud or hybrid cloud solution.
The cloud provides an easy onramp to building and deploying Big Data solutions. Transitioning from initial deployment to large-scale, highly performant operations may not be as easy. In his session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, will discuss the benefits, weaknesses, and performance characteristics of public and bare metal cloud deployments that can help you make the right decisions.
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects – scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e., the largest single medical system in the United States.
Cloud and Big Data present unique dilemmas: embracing the benefits of these new technologies while maintaining the security of your organization’s assets. When an outside party owns, controls and manages your infrastructure and computational resources, how can you be assured that sensitive data remains private and secure? How do you best protect data in mixed use cloud and big data infrastructure sets? Can you still satisfy the full range of reporting, compliance and regulatory requirements? In his session at 15th Cloud Expo, Derek Tumulak, Vice President of Product Management at Vormetric, will discuss how to address data security in cloud and Big Data environments so that your organization isn’t next week’s data breach headline.
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Is your organization struggling to deal with skyrocketing volumes of digital assets? The amount of data is growing exponentially and organizations are having a hard time managing this growth. In his session at 15th Cloud Expo, Amar Kapadia, Senior Director of Open Cloud Strategy at Seagate, will walk through the essential considerations when developing a cloud storage strategy. In this discussion, you will understand the challenges IT is facing, why companies need to move to cloud, and how the right cloud model can help your business economically overcome the data struggle.
If cloud computing benefits are so clear, why have so few enterprises migrated their mission-critical apps? The answer is often inertia and FUD. No one ever got fired for not moving to the cloud – not yet. In his session at 15th Cloud Expo, Michael Hoch, SVP, Cloud Advisory Service at Virtustream, will discuss the six key steps to justify and execute your MCA cloud migration.
The 16th International Cloud Expo announces that its Call for Papers is now open. 16th International Cloud Expo, to be held June 9–11, 2015, at the Javits Center in New York City brings together Cloud Computing, APM, APIs, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
Most of today’s hardware manufacturers are building servers with at least one SATA Port, but not every systems engineer utilizes them. This is considered a loss in the game of maximizing potential storage space in a fixed unit. The SATADOM Series was created by Innodisk as a high-performance, small form factor boot drive with low power consumption to be plugged into the unused SATA port on your server board as an alternative to hard drive or USB boot-up. Built for 1U systems, this powerful device is smaller than a one dollar coin, and frees up otherwise dead space on your motherboard. To meet the requirements of tomorrow’s cloud hardware, Innodisk invested internal R&D resources to develop our SATA III series of products. The SATA III SATADOM boasts 500/180MBs R/W Speeds respectively, or double R/W Speed of SATA II products.
In today's application economy, enterprise organizations realize that it's their applications that are the heart and soul of their business. If their application users have a bad experience, their revenue and reputation are at stake. In his session at 15th Cloud Expo, Anand Akela, Senior Director of Product Marketing for Application Performance Management at CA Technologies, will discuss how a user-centric Application Performance Management solution can help inspire your users with every application transaction.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, has been named “Bronze Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Cloudian is a Foster City, Calif.-based software company specializing in cloud storage. Cloudian HyperStore® is an S3-compatible cloud object storage platform that enables service providers and enterprises to build reliable, affordable and scalable hybrid cloud storage solutions. Cloudian actively partners with leading cloud computing environments including Amazon Web Services, Citrix Cloud Platform, Apache CloudStack, OpenStack and the vast ecosystem of S3 compatible tools and applications. Cloudian's customers include Vodafone, Nextel, NTT, Nifty, and LunaCloud. The company has additional offices in China and Japan.
SYS-CON Events announced today that TechXtend (formerly Programmer’s Paradise), a leading value-added provider of server and storage virtualization, and r-evolution will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. TechXtend (formerly Programmer’s Paradise) is a leading value-added provider of software, systems and solutions for corporations, government organizations, and academic institutions across the United States and Canada. TechXtend is the Exclusive Reseller in the United States for r-evolution