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Fleetmatics Announces Fourth Quarter and Full Year 2012 Financial Results

Fleetmatics Group PLC (NYSE: FLTX), a leading global provider of fleet management solutions for commercial fleet vehicles delivered as Software-as-a-Service (SaaS), today announced preliminary financial results for its fourth quarter and full year ended December 31, 2012.

“We were very pleased with the company’s execution during the fourth quarter, which provided a strong finish to a record year,” stated Jim Travers, Chief Executive Officer of Fleetmatics. “Our strong growth in subscriptions, revenue, and profitability is being driven by continued market demand for our highly differentiated Software-as-a-Service fleet management solution for SMBs.”

Travers added, “Looking forward, Fleetmatics remains well positioned to maintain its momentum and capitalize on the large underpenetrated market for fleet tracking. We continue to expect the combination of acquiring new customers, increasing sales to existing customers, entering new geographies, introducing new features and further monetizing our data, to extend our leadership position and increase our market share worldwide.”

Fourth Quarter 2012 Financial Highlights

  • Revenue: Total revenue for the fourth quarter was $35.8 million, an increase of 38% compared to $25.9 million for the fourth quarter of 2011.
  • Gross Profit: GAAP gross profit for the fourth quarter was $26.6 million, compared to $18.2 million for the fourth quarter of 2011. Non-GAAP gross profit, which excludes share-based compensation and amortization of intangible assets was $26.7 million for the quarter compared to $18.3 million in the year ago period. GAAP gross margin was 74% for the fourth quarter of 2012, compared to 70% during the same period of last year. Non-GAAP gross margin was 75% for the fourth quarter of 2012, compared to 71% during the same period last year.
  • Operating Income: GAAP operating income for the fourth quarter was $6.6 million, compared to $2.4 million for the fourth quarter of 2011. Non-GAAP operating income, which excludes share-based compensation, amortization of intangible assets and other items as defined in “Non-GAAP Financial Measures” was $9.0 million, an increase of 100% compared to $4.5 million for the fourth quarter of 2011.
  • Net Income: Preliminary GAAP net income for the fourth quarter was $4.1 million, compared to $1.1 million for the same period last year. Preliminary GAAP diluted net income per share for the fourth quarter was $0.13, based on 32.2 million weighted-average diluted shares outstanding, compared to $0.03, and based on 2.4 million weighted-average diluted shares outstanding, for the same period last year.

    Preliminary non-GAAP adjusted earnings, which excludes share-based compensation, amortization of intangible assets as well as other items as defined in “Non-GAAP Financial Measures” was $6.4 million for the fourth quarter, up 142% compared to $2.6 million for the fourth quarter of 2011. Preliminary non-GAAP diluted adjusted earnings per share for the fourth quarter was $0.18 based on 35.4 million pro forma weighted-average diluted shares outstanding compared to $0.09 per share based on 29.1 million pro forma weighted-average diluted shares outstanding for the same period last year.
  • Adjusted EBITDA: Adjusted EBITDA for the fourth quarter was $11.8 million, an increase of 77% compared to $6.7 million for the fourth quarter of 2011. Adjusted EBITDA margin was 33% for the fourth quarter of 2012, compared to a 26% margin for the same period last year. Adjusted EBITDA is defined as net income (loss) plus provision for income taxes; interest (income) expense, net; foreign currency transaction (gain) loss, net; depreciation and amortization of property and equipment; amortization of capitalized in-vehicle devices owned by customers; amortization of intangible assets; share-based compensation; and other items as defined in “Non-GAAP Financial Measures.”
  • Balance Sheet: As of December 31, 2012, Fleetmatics had cash of $100.1 million, due primarily to the completion of the company’s initial public offering on October 11, 2012, which generated net proceeds of approximately $93.4 million.

    During the fourth quarter of 2012, the company generated $9.8 million in net cash from operations and invested $6.0 million in capital expenditures, resulting in free cash flow of $3.8 million. During the fourth quarter of 2011, the company generated $2.4 million in net cash from operations and invested $4.5 million in capital expenditures, resulting in free cash flow of negative $2.1 million.
  • Final determination of GAAP net income and non-GAAP adjusted earnings are subject to the completion of the Company’s tax provision. The fourth quarter tax provision is currently estimated to be $2.0 million. The company expects the tax provision to be completed upon the filing of the Company’s 20-F for 2012.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Full Year 2012 Financial Highlights

  • Revenue: Total revenue for the full year of 2012 was $127.5 million, an increase of 38% compared to $92.3 million for the full year 2011.
  • Gross Profit: GAAP gross profit for the full year was $91.9 million, compared to $63.7 million for 2011. Non-GAAP gross profit for the year was $92.5 million compared to $64.2 million in 2011. GAAP gross margin was 72% for the full year 2012, compared to 69% during 2011. Non-GAAP gross margin was 73% for the full year of 2012, compared to 70% during 2011.
  • Operating Income: GAAP operating income for the full year was $12.4 million, an increase of 108% compared to $6.0 million for 2011. Non-GAAP operating income was $23.7 million, an increase of 71% compared to $13.8 million for 2011.
  • Net Income: Preliminary GAAP net income for the full year was $4.9 million, an increase of 72% compared to $2.9 million last year. Preliminary GAAP diluted net income per share for the full year was $0.46, based on 10.1 million weighted-average diluted shares outstanding, compared to $0.08, and based on 2.1 million weighted-average diluted shares outstanding, last year.

    Preliminary non-GAAP adjusted earnings was $17.1 million for the full year, up 103% compared to $8.4 million for 2011. Non-GAAP diluted adjusted earnings per share for the full year was $0.55 based on 30.8 million pro forma weighted-average diluted shares outstanding, compared to $0.29 per share based on 28.7 million pro forma weighted-average diluted shares outstanding last year.
  • Adjusted EBITDA: Adjusted EBITDA for the full year was $33.9 million, an increase of 56% compared to $21.7 million for 2011. Adjusted EBITDA margin was 27% for the full year of 2012, compared to a 24% margin last year.
  • Cash Flow: The company generated $16.9 million in net cash from operations and invested $25.2 million in capital expenditures, resulting in free cash flow of negative $8.3 million during the full year of 2012. The company generated $1.8 million in net cash from operations and invested $15.1 million in capital expenditures during the full year 2011, resulting in free cash flow of negative $13.3 million.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Fourth Quarter 2012 Operating Highlights

  • Fleetmatics ended the fourth quarter of 2012 with 331,000 active vehicles under subscription, up 40% compared to 237,000 during the fourth quarter of 2011.
  • Net churn during the fourth quarter of 2012 was 1.6% compared to 1.2% during the fourth quarter of 2011. We calculate our net churn for a period by dividing (i) the number of vehicles under subscription added from existing customers less vehicles under subscription lost from existing customers over that period by (ii) the total vehicles under subscription at the beginning of that period. A positive net churn in each period means we added more vehicles from existing customers than we lost from those customers during the particular period.

Financial Outlook

As of February 20, 2013, Fleetmatics is initiating guidance for the first quarter of 2013 and full year 2013 as follows:

First Quarter 2013 Guidance: Total revenue is expected to be in the range of $37.2 million to $37.6 million. Adjusted EBITDA is expected to be in the range of $8.7 million to $9.1 million. Non-GAAP diluted adjusted earnings per share is expected to be in the range of $0.12 to $0.14 based on approximately 36.2 million weighted-average diluted shares outstanding. Fleetmatics’ non-GAAP results exclude an estimated $0.7 million of share-based compensation expense, $0.5 million of intangible amortization, and $0.5 million relating to tax reserves.

Full Year 2013 Guidance: Total revenue is expected to be in the range of $162.5 million to $164.5 million, which represents growth of 28% year-over-year at the midpoint. Adjusted EBITDA is expected to be in the range of $45 million to $46 million. Non-GAAP diluted adjusted earnings per share is expected to be in the range of $0.69 to $0.72 based on approximately 36.9 million weighted-average diluted shares outstanding. Fleetmatics’ non-GAAP results exclude an estimated $2.7 million of share-based compensation expense, $1.9 million of intangible amortization, and negative $14.5 million relating to tax reserves.

Quarterly Conference Call

Fleetmatics will host a conference call today at 5:00 p.m. EST to discuss the company's financial results for the fourth quarter and full year 2012, its business outlook and other matters. To access this call, dial +1-888-401-4690 (United States), or +1-719-325-2461 (international), with conference ID # 3041154. A live webcast of this conference call will also be available on the investor relations portion of the company’s website at ir.fleetmatics.com, and a replay will be archived on the website as well. A replay of this conference call will also be available through March 6, 2013, by dialing +1-877-870-5176 (United States), or +1-858-384-5517 (international). The recording access code is #3041154.

About Fleetmatics Group PLC

Fleetmatics Group PLC is a leading global provider of fleet management solutions for small and mid-sized businesses delivered as Software-as-a-Service (SaaS). Our solutions enable businesses to meet the challenges associated with managing local fleets, and improve the productivity of their mobile workforces, by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data.

Fleetmatics Group's intuitive, cost-effective Web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage, and other insights into their mobile workforce, enabling them to reduce operating and capital costs, as well as increase revenue. Fleetmatics serves more than 18,000 customers, tracking more than 331,000 vehicles worldwide.

Fleetmatics' solutions are marketed both under the Fleetmatics (www.fleetmatics.com) and SageQuest (www.sage-quest.com) brands.

Non-GAAP Financial Measures

In this release, Fleetmatics’ non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP adjusted earnings, non-GAAP diluted adjusted earnings per share, are not presented in accordance with generally accepted accounting principles (GAAP) and are not intended to be used in lieu of GAAP presentations of results of operations. Non-GAAP gross profit, non-GAAP gross margin and non-GAAP operating income exclude share-based compensation and amortization of intangible assets. Non-GAAP adjusted earnings and non-GAAP diluted adjusted earnings per share exclude share-based compensation; amortization of intangible assets; foreign currency transaction (gain) loss; loss on extinguishment of debt; certain non-recurring litigation and settlement costs; management services agreement expense; the tax effects related to these items, and the tax reserve component of the income tax provision.

Adjusted EBITDA is defined as net income (loss) plus provision for income taxes; interest (income) expense, net; foreign currency transaction (gain) loss, net; depreciation and amortization of property and equipment; amortization of capitalized in-vehicle devices owned by customers; amortization of intangible assets; share-based compensation; certain non-recurring litigation and settlement costs; management services agreement expense; and loss on extinguishment of debt.

Management presents these non-GAAP financial measures because it considers them to be important supplemental measures of performance. Management uses the non-GAAP financial measures for planning purposes, including analysis of the company's performance against prior periods, the preparation of operating budgets and to determine appropriate levels of operating and capital investments. Management also believes that the non-GAAP financial measures provide additional insight for analysts and investors in evaluating the company's financial and operational performance. However, these non-GAAP financial measures have limitations as an analytical tool and are not intended to be an alternative to financial measures prepared in accordance with GAAP. We intend to provide these non-GAAP financial measures as part of our future earnings discussions and, therefore, the inclusion of these non-GAAP financial measures will provide consistency in our financial reporting. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.

The company’s earnings press releases containing such non-GAAP reconciliations can be found on the Investors section of the Company’s web site at http://ir.fleetmatics.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about our growth strategy, extending our market leadership position, acquiring new customers, increasing sales to existing customers, entering new geographies, introducing new features, monetizing our data, and our expected financial results for the first quarter of 2013, the full year of 2013 and the preliminary financial results for the fourth quarter of 2012 and the full year of 2012. These forward-looking statements include, but are not limited to: plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, risks associated with our ability to effectively and efficiently attract, sell to and retain SMB customers; our ability to retain and increase sales to our existing customers; expectations regarding the widespread adoption of fleet management solutions; our ability to expand the sales of our products to customers located outside the U.S.; our ability to continue to compete in a highly fragmented market and the risk of future competitors by way of acquisition or otherwise; keeping up with the rapid technological change required to remain competitive in our industry; and the impact of adverse economic conditions on information technology spending by SMB businesses , and other risks set forth under the caption “Risk Factors” in the Company’s final prospectus related to its recent follow on public offering filed pursuant to Rule 424b under the Securities Act with the Securities and Exchange Commission on January 31, 2013, as updated by our subsequently furnished or filed quarterly reports on Form 6-K, annual reports on Form 20-F and other filings that we make with the Securities and Exchange Commission. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

 

FLEETMATICS GROUP PLC

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share data)

(Unaudited)

 
 

Three Months Ended
December 31,

 

Year Ended
December 31,

  2012       2011     2012       2011  
Subscription revenue $ 35,821 $ 25,865 $ 127,451 $ 92,317
Cost of subscription revenue   9,244     7,696     35,507     28,631  
 
Gross profit   26,577     18,169     91,944     63,686  
 
Operating expenses:
Sales and marketing 10,638 8,895 41,138 33,391
Research and development 2,135 1,648 7,379 6,021
General and administrative   7,158     5,184     31,047     18,309  
 
Total operating expenses   19,931     15,727     79,564     57,721  
 
Income from operations 6,646 2,442 12,380 5,965
Interest income (expense), net (408 ) (609 ) (2,075 ) (2,386 )
Foreign currency transaction gain (loss), net (96 ) (95 ) (24 ) 155
Loss on extinguishment of debt (934 )
Other income (expense), net           (32 )    
 
Income before income taxes 6,142 1,738 9,315 3,734
Provision for income taxes  

2,047*

    668    

4,372*

    865  
 
Net income

4,095*

1,070

4,943*

2,869
Accretion of redeemable convertible preferred shares to redemption value (113 ) (336 ) (446 )
Net income attributable to participating securities       (906 )       (2,294 )
 
Net income attributable to ordinary shareholders $

4,095*

  $ 51   $

4,607*

  $ 129  
 
Net income per share attributable to ordinary shareholders:
Basic $

0.13*

  $ 0.03   $

0.52*

  $ 0.09  
 
Diluted $

0.13*

  $ 0.03   $

0.46*

  $ 0.08  
 
Weighted average ordinary shares outstanding:
Basic   30,585,811     1,497,150     8,822,169     1,497,150  
 
Diluted   32,194,164     2,413,020     10,084,580     2,077,592  
 

* Preliminary estimate subject to completion of the Company’s FY 2012 tax provision.

 
 

FLEETMATICS GROUP PLC

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

(Unaudited)

 
  December 31,
2012
  December 31,
2011
Assets
Current assets:
Cash $ 100,087 $ 8,615
Restricted cash 64 592
Accounts receivable, net of allowances of $887 and $1,237 at December 31, 2012 and 2011, respectively 8,871 5,376
Deferred tax assets 8,615 8,343
Prepaid expenses and other current assets   10,371   5,425  
 
Total current assets 128,008 28,351
Property and equipment, net 41,132 26,848
Goodwill 24,879 24,879
Intangible assets, net 7,013 9,341
Deferred tax assets, net 547 4,298
Other assets   8,722   5,859  
 
Total assets $ 210,301 $ 99,576  
 
 
Liabilities, Redeemable Convertible Preferred Shares and Shareholders’ Deficit
Current liabilities:
Accounts payable $ 9,115 $ 5,398
Accrued expenses and other current liabilities 11,420 12,382
Deferred revenue 17,087 18,679
Current portion of long-term debt   1,250   750  
 
Total current liabilities   38,872   37,209  
 
Deferred revenue 8,931 7,741
Accrued income taxes 15,931 17,825
Long-term debt, net of discount of $556 and $449 at December 31, 2012 and 2011, respectively 22,881 16,301
Other liabilities   3,030   726  
 
Total liabilities   89,645   79,802  
 
Redeemable convertible preferred shares 130,839
Total shareholders’ equity (deficit)   120,656   (111,065 )
 
Total liabilities, redeemable convertible preferred shares and shareholders’ equity (deficit) $ 210,301 $ 99,576  
 
 

FLEETMATICS GROUP PLC

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 
 

Year Ended
December 31,

  2012       2011  
Cash flows from operating activities:
Net income $ 4,943 $ 2,869
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment 9,547 7,581
Amortization of capitalized in-vehicle devices owned by customers 668 344
Amortization of intangible assets 2,332 3,349
Amortization of deferred commissions, other deferred costs and debt discount 4,986 3,855
Provision for deferred tax assets 5,863 1,788
Provision for accounts receivable allowances 1,509 990
Unrealized foreign currency transaction (gain) loss 38 (178 )
Loss on disposal of property and equipment and other assets 2,182 954
Share-based compensation 2,422 2,292
Loss on extinguishment of debt, non-cash portion 405
Changes in operating assets and liabilities:
Accounts receivable (4,979 ) (3,460 )
Prepaid expenses and other current and long-term assets (11,630 ) (7,211 )
Accounts payable, accrued expenses and other current liabilities 986 2,194
Accrued income taxes (1,893 ) (1,015 )
Deferred revenue   (489 )   (12,547 )
 
Net cash provided by operating activities   16,890     1,805  
 
Cash flows from investing activities:
Purchases of property and equipment (25,221 ) (15,083 )
Capitalization of internal-use software costs (883 ) (686 )
Net (increase) decrease in restricted cash   528     (387 )
 
Net cash used in investing activities   (25,576 )   (16,156 )
 
Cash flows from financing activities:
Proceeds from issuance of Term Loan, net of discount and issuance costs 23,549
Proceeds from borrowings under Revolving Credit Facility 8,286
Payments of borrowings under Revolving Credit Facility (8,286 )
Proceeds from initial public offering, net of offering costs 94,667
Proceeds from exercise of stock options 305
Reversal of excess tax benefits from share-based awards (266 )
Collection of note receivable from officer 152
Payments of Senior Secured Notes (17,500 )
Payments of capital lease obligations   (369 )   (139 )
 
Net cash provided by financing activities   100,386     13  
 
Effect of exchange rate changes on cash   (228 )   (101 )
 
Net increase (decrease) in cash 91,472 (14,439 )
Cash, beginning of period   8,615     23,054  
 
Cash, end of period $ 100,087   $ 8,615  
 
Supplemental disclosure of cash flow information:
Cash paid for interest $ 1,913 $ 2,251
Cash paid for income taxes $ 1,841 $ 243
Supplemental disclosure of non-cash financing and investing activities:
Accretion of redeemable convertible preferred shares to redemption value $ 336 $ 446
Acquisition of property and equipment through capital leases $ 31 $ 1,152
Additions to property and equipment included in accounts payable at the balance sheet dates $ 2,173 $ 1,276
Initial public offering costs included in accounts payable at the balance sheet dates $ 1,254 $
 
 

RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA

(In thousands)

(Unaudited)

 
  Three Months Ended   Year Ended
December 31, December 31,

 

2012

 

2011

2012

 

2011

 

 

Net income

$

4,095*

$ 1,070 $

4,943*

$ 2,869
Provision for income taxes 2,047 668 4,372 865
Interest (income) expense, net 408 609 2,075 2,386
Foreign currency transaction (gain) loss, net 96 95 24 (155 )
Depreciation and amortization of property and equipment 2,582 2,073 9,547 7,581
Amortization of capitalized in-vehicle devices owned by customers 200 105 668 344
Amortization of intangible assets 583 838 2,332 3,349
Share-based compensation 549 665 2,422 2,292
Litigation and settlements 1,216 1,216
Management Services Agreement expense 50 559 5,353 2,217
Loss on extinguishment of debt  

    934    
Adjusted EBITDA $ 11,826 $ 6,682 $ 33,886 $ 21,748  
 

* Preliminary estimate subject to completion of the Company’s FY 2012 tax provision.

 
 

RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EPS

(In thousands, except share and per share data)

(Unaudited)

 
  Three Months Ended   Year Ended
December 31, December 31,

2012

 

2011

2012

 

2011

 

Net income

$

4,095*

$ 1,070 $

4,943*

$ 2,869
Amortization of intangible assets 583 838 2,332 3,349
Share-based compensation 549 665 2,422 2,292
Foreign currency transaction (gain) loss, net 96 95 24 (155 )
Loss on extinguishment of debt 934
Litigation and settlements 1,216 1,216
Management Services Agreement expense 50 559 5,353 2,217
Tax effect of non-GAAP adjustments above at 15% (374 ) (324 ) (1,842 ) (1,155 )

Tax reserve component of income tax provision

  204     (254 )   1,668     (1,014 )
Adjusted earnings $

6,419*

  $ 2,649   $

17,050*

  $ 8,403  
 
Pro forma weighted average ordinary shares outstanding — diluted   35,380,981     29,066,403     30,839,263     28,730,975  
 
Non-GAAP adjusted EPS $

0.18*

  $ 0.09   $

0.55*

  $ 0.29  
 

*Preliminary estimate subject to completion of the Company’s FY 2012 tax provision.

 
 

FLEETMATICS GROUP PLC

RECONCILIATION TO NON-GAAP INCOME

(In thousands)

(Unaudited)

 
 

Three Months Ended
December 31,

 

Year Ended
December 31,

 

2012

      2011     2012       2011  
Cost of subscription revenue
Share-based compensation $ 42 $ 7 $ 136 $ 24
Amortization of intangible assets   98     128     383     514  
Subtotal cost of subscription revenue 140 135 519 538
 

Sales and marketing

Share-based compensation 95 200 921 734
Amortization of intangible assets   485     710     1,949     2,835  
Subtotal sales and marketing 580 910 2,870 3,569
 

Research and development

Share-based compensation   53     47     187     155  
Subtotal research and development 53 47 187 155
 

General and administrative

Share-based compensation 359 411 1,178 1,379
Management Services Agreement expense 50 559 5,353 2,217
Litigation and settlements   1,216         1,216      
Subtotal general and administrative 1,625 970 7,747 3,596
 
Foreign currency transaction (gain) loss, net 96 95 24 (155 )
Loss on extinguishment of debt 934
Tax effect of non-GAAP adjustments, net of tax reserve component of income tax provision   (170 )   (578 )   (174 )   (2,169 )
Total expense add-backs $ 2,324   $ 1,579   $ 12,107   $ 5,534  

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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