Click here to close now.




















Welcome!

Agile Computing Authors: Liz McMillan, Pat Romanski, Gregor Petri, Georgiana Comsa, Elizabeth White

News Feed Item

XO Group Inc. Reports Third Quarter 2012 Financial Results

Conference Call Today at 4:30 p.m. ET, Dial-In (866) 430-3457 (ID# 58988149)

NEW YORK, Nov. 8, 2012 /PRNewswire/ -- XO Group Inc. (NYSE: XOXO, www.xogroupinc.com), the premier media and technology company devoted to weddings, pregnancy, and everything in between, today reported financial results for the three months ended September 30, 2012.

(Logo: http://photos.prnewswire.com/prnh/20120618/NY26546LOGO )

Third Quarter Summary Results

Total revenue for the third quarter was $31.7 million, up 2.2% compared to the prior year.  The results were led by publishing and other, local online and national online which grew 18.2%, 12.5%, and 9.8% respectively, year over year.  The e-commerce and registry businesses were down, 25.4% and 5.2% year over year, respectively.

For the quarter ended September 30, 2012, gross margin improved by 370 basis points over the prior year.  The Company's operating profit was $3.3 million compared to an operating profit of $1.9 million in the prior year quarter.  The $1.4 million increase in operating profit was due to revenue growth and improved gross margins, which were partly offset by an increase in compensation expenses. Net income for the quarter was $2.1 million or $0.08 per diluted share, compared to net income of $1.3 million or $0.04 per diluted share in the prior year quarter.

The Company's balance sheet at September 30, 2012 reflects cash and cash equivalents of $72.7 million, down $4.7 million from $77.4 million at December 31, 2011.  Cash declined during the first nine months of the year, primarily due to the repurchase of 2.1 million shares of common stock for $18.9 million which was completed on June 12, 2012 and capital expenditures of $2.0 million, offset in part by positive cash flow from operations of $18.4 million.

"We are pleased by the continued growth of our local and publishing businesses, although we acknowledge the challenges in our merchandising businesses. Heading into the final quarter of the year we are optimistic our innovative products, high quality content and services will continue to deliver value to our audience and advertisers," said Chief Executive Officer David Liu.

Recent Developments

  • Local online advertising growth is still strong, with third quarter revenue up 12.5% over the prior year quarter. The Knot had approximately 22,100 vendors with paid directory listings at the close of the third quarter, and the trailing twelve month churn rate was 29.8% at the end of September, up 60 basis points year over year.  The average annual revenue per vendor was approximately $2,300 (see supplemental data tables, below).
  • National online advertising showed strong growth, with third quarter revenues up 9.8% over the prior year quarter. Growth was mainly driven by the finance and insurance category, partially offset by declines in the travel category.
  • The e-commerce business revenue decline is mainly due to SEO and mobile challenges.    However, gross margins improved 190 basis points year over year as the business recovers from the disruptions caused by last year's implementation of a new back office warehouse system.
  • Registry was down in the third quarter compared to last year as the business was impacted by lower sales from our partners.
  • Our product development team continues to introduce a variety of new tools and updates to our sites, including The Bump pregnancy calendar, personalization tools on ijie.com, and a new real weddings photo gallery, among others.
  • In October, the Company announced an exclusive agreement with Men's Wearhouse, which will be the tuxedo provider of choice on theknot.com. This arrangement will give brides-to-be the opportunity to view and interact with Men's Wearhouse brand-name tuxedo merchandise at an early stage of the wedding planning process.
  • In September, theknot.com announced The Knot Dream Wedding, the first-ever live streamed wedding on TheKnot.com, Facebook, Google+, The Knot YouTube channel, MSN Living and other media platforms straight from iconic Citi Pond at Bryant Park in New York City on February 14, 2013. The winner will receive a wedding with every single element provided by our partners, including flight and hotel accommodations for the couple and 20 of their lucky friends and family to be provided by Expedia®, the largest online travel company in the world.

Third Quarter and Year-to-Date 2012 Financial Highlights

"Nine months into the year we continue to show impressive growth in our local and publishing businesses as well as continued cost control. We are optimistic that our strong brands, community, and advertiser relationships put us in a position to grow profitably over the long term," said Chief Financial Officer John Mueller

  • For the three months ended September 30, 2012, XO Group reported revenue of $31.7 million, up 2.2% compared to revenue in the third quarter of 2011. Net income for the third quarter was $2.1 million, or $0.08 per diluted share, as compared with net income of $1.3 million, or $0.04 per diluted share, for the quarter ended September 30, 2011.
  • For the nine months ended September 30, 2012, XO Group reported revenue of $96.9 million and net income of $5.5 million or $0.22 per diluted share. This compares to revenue of $93.3 million and net income of $3.5 million or $0.11 per diluted share for the nine months of 2011. Revenue growth year to date was 3.9% compared to the same period in 2011, while net income was up 59.2% in the first nine months of this year compared to the same period of 2011.
  • National online advertising revenue was $6.5 million for the three months ended September 30, 2012, up 9.8% from $5.9 million for the corresponding period in 2011. National online revenue was $19.5 million for the nine months ended September 30, 2012, which was a slight decline compared to $19.6 million for the corresponding period in 2011.
  • Local online advertising revenue was $12.5 million for the quarter ended September 30, 2012, growing 12.5% from $11.1 million for the third quarter of 2011.  Local online revenue was $37.0 million for the nine months ended September 30, 2012, up 16.3% compared to $31.9 million for the corresponding period in 2011. Please see the attached supplemental data tables for additional information regarding the local online business.
  • Merchandise revenue from the sale of wedding and baby supplies was $5.7 million and $18.2 million for the three and nine months ended September 30, 2012, respectively, as compared to $7.6 million and $21.4 million for the corresponding periods in 2011. Revenue declined 25.4% in the third quarter 2012, and 15.0% for the first nine months of the year. The decline was mainly due to SEO challenges and user behavioral shifts to mobile browsing, as our ecommerce mobile interface is not yet optimized.   
  • Registry commission revenue was $2.1 million in the third quarter of 2012, down 5.2% from $2.2 million in the same period in 2011.  Year-to-date registry revenue was $5.1 million, down 6.3% compared with $5.4 million in 2011.
  • Gross profit for the third quarter of 2012 was $26.4 million, up 7.0% year over year, and gross margin was 83.2% for the three months ended September 30, 2012, compared with 79.5% for the corresponding period in 2011. In the nine months ended September 30, 2012, gross profit margins were 82.5%, compared to 79.2% in the corresponding period in 2011. Please see the supplemental data tables for additional information regarding gross profit margins.
  • Operating expense was $23.2 million and $70.9 million for the three and nine months ended September 30, 2012, respectively, compared with $22.8 million and $68.1 million for the corresponding period in 2011.  The increase in operating expense for the third quarter and year-to-date was primarily due to increased employee expenses including higher stock-based compensation and increased headcount in Ijie's sales organization, as well as the impairment charges discussed below. In the third quarter, XO Group incurred operating expenses of approximately $1.2 million for Ijie.com, compared to expenses of approximately $1.0 million in the third quarter of 2011.
  • In the third quarter, the Company recorded impairment charges totaling approximately $1.0 million related to the WeddingChannel trade name and the tradename of an e-commerce company acquired in May 2009. Impairment charges for the trade names resulted from trending of lower overall e-commerce sales, as well as lower advertising and registry sales attributable to the WeddingChannel trade name. Impairment charges for the e-commerce company also resulted from changes in the SEO environment which has unfavorably impacted this business.
  • Stock-based compensation expense was $2.0 million and $6.4 million for the three and nine months ended September 30, 2012, respectively, as compared to $1.3 million and $4.1 million for the corresponding periods in 2011. Please see the supplemental data tables for additional information regarding stock based compensation.
  • Net cash provided by operating activities was $4.1 million for the quarter ended September 30, 2012, while capital expenditures amounted to $0.8 million for the same period. Net cash provided by operating activities was $18.4 million for the nine months ended September 30, 2012, while capital expenditures amounted to $2.0 million for the same period.

Supplemental Data Tables

Local Online Advertising Metrics


3Q2011

4Q2011

1Q2012

2Q2012

3Q2012

Profile Count

26,900

28,400

29,300

29,700

29,700

Vendor Count

20,500

20,900

21,500

21,800

22,100

Churn Rate

29.2%

29.1%

29.3%

29.7%

29.8%

Avg. Revenue/Vendor

$2,200

$2,300

$2,300

$2,300

$2,300

Gross Profit/Margin by Business

Three months ended September 30,

2012

2012

2011

2011

($000s)

Gross Profit

Gross Margin

Gross Profit

Gross Margin

Online sponsorship & advertising

$18,533

97.7%

$16,477

96.9%

Registry services

2,054

100.0%

2,166

100.0%

Merchandise

2,418

42.4%

3,100

40.5%

Publishing & other

3,412

68.2%

2,935

69.3%

Total gross profit

$26,417

83.2%

$24,678

79.5%

Stock Based Compensation


Three Months Ended

 September 30,

Nine Months Ended

 September 30,

($000s)

2012

2011

2012

2011

Product & content development

$658

$477

$2,134

$1,423

Sales & marketing

574

375

1,987

1,368

General & administrative

732

423

2,313

1,284

Total stock-based compensation

$1,964

$1,275

$6,434

$4,075

Stock Repurchase Summary Since Inception, Through Third Quarter 2012

 

 

($000s)

Three Months Ended

 

Total Cost

 

Common Stock

Repurchased

(000s shares)

Percentage of
Outstanding

Common Stock

At 12/31/2010

March 31, 2011

$37,670

3,672

10.7%

June 30, 2011

8,744

886

2.7%

September 30, 2011

13,796

1,558

4.5%

December 31, 2011

10,895

1,344

3.9%

March 31, 2012

12,699

1,434

4.2%

June 30, 2012

6,196

675

1.9%

Total, Since Inception

$90,000

9,569

27.9%

Conference Call and Replay Information

XO Group Inc. will host a conference call with investors at 4:30 p.m. ET on November 8, 2012, to discuss its third quarter 2012 financial results. Participants should dial (866) 430-3457 and use Conference ID# 58988149 at least 10 minutes before the call is scheduled to begin. Participants can also access the live broadcast over the Internet on the Investor Relations section of the Company's website, accessible at http://ir.xogroupinc.com. To access the webcast, participants should visit XO Group's website at least 15 minutes prior to the conference call in order to download or install any necessary audio software.

A replay of the webcast will also be archived on the Company's website approximately two hours after the conference call ends. A replay of the call will be available at (855) 859-2056 or (404) 537-3406, conference ID # 58988149.

About XO Group Inc.

XO Group Inc. (NYSE: XOXO; http://www.xogroupinc.com) is the premier media and technology company devoted to weddings, pregnancy and everything in between, providing young women with the trusted information, products and advice they need to guide them through the most transformative events of their lives. Our family of premium brands began with the #1 wedding brand, The Knot, and has grown to include WeddingChannel.com, The Nest, The Bump, The Blush and Ijie.com. XO Group is recognized by the industry for being innovative in all media - from the web to social media and mobile, magazines and books, and video - and our groundbreaking social platforms have ignited passionate communities across the world. XO Group has leveraged its customer loyalty into successful businesses in online sponsorship and advertising, registry services, ecommerce and publishing. The company is publicly listed on the New York Stock Exchange (XOXO) and is headquartered in New York City.

This release may contain projections or other forward-looking statements regarding future events or our future financial performance. These statements are only predictions and reflect our current beliefs and expectations. Actual events or results may differ materially from those contained in the projections or forward-looking statements. It is routine for internal projections and expectations to change as the quarter progresses, and therefore it should be clearly understood that the internal projections and beliefs upon which we base our expectations may change prior to the end of the quarter. Although these expectations may change, we will not necessarily inform you if they do. Our policy is to provide expectations not more than once per quarter, and not to update that information until the next quarter. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation, (i) our online wedding-related and other websites may fail to generate sufficient revenue to survive over the long term, (ii) our history of losses, (iii) inability to adjust spending quickly enough to offset any unexpected revenue shortfall, (iv) delays or cancellations in spending by our advertisers and sponsors, (v) the significant fluctuation to which our quarterly revenue and operating results are subject, (vi) the seasonality of the wedding industry, (vii) the dependence of our e-commerce sites on search engine rankings and the limits of our search engine optimization efforts to influence those rankings, (viii) the dependence of the WeddingChannel.com registry services business on third parties, and (ix) other factors detailed in documents we file from time to time with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

Contact:
Ivan Marmolejos
Investor Relations Associate
(212) 219-8555 x1004
[email protected]

 

 

XO GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except for per share amounts)





Three Months Ended September 30,




2012
(Unaudited)


2011
(Unaudited)

Net revenue:






 Online sponsorship and advertising


$            18,973


$            17,003


 Registry services


2,054


2,166


 Merchandise


5,703


7,647


 Publishing and other


5,004


4,233


 Total net revenue


31,734


31,049







Cost of revenue:






 Online sponsorship and advertising


440


526


 Merchandise


3,285


4,547


 Publishing and other


1,592


1,298


 Total cost of revenue


5,317


6,371








 Gross profit


26,417


24,678







Operating expenses:






    Product and content development


6,768


5,827


    Sales and marketing


9,096


9,468


    General and administrative


5,461


5,898


    Long-lived asset impairment charges


958


716


    Depreciation and amortization


867


892


Total operating expenses


23,150


22,801








 Income from operations


3,267


1,877


 Loss in equity interest


(19)


(29)


 Interest and other income, net


82


423


 Income before income taxes


3,330


2,271


 Provision for income taxes


1,271


1,010


 Net income


2,059


1,261


 Plus: net loss attributable to non-controlling interest


-


22


 Net income attributable to the controlling interest


$                 2,059


$                1,283







Net income per share attributable to XO Group common shareholders:






Basic


$                 0.08


$                0.05


Diluted


$                 0.08


$                0.04







Weighted average number of shares used in calculating net income per share






Basic


24,285


28,259


Diluted


24,818


28,822

 

XO GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except for per share amounts)





Nine Months Ended September 30,




2012
(Unaudited)


2011
(Unaudited)

Net revenue:






 Online sponsorship and advertising


$            56,574


$            51,425


 Registry services


5,056


5,395


 Merchandise


18,228


21,450


 Publishing and other


17,092


15,042


 Total net revenue


96,950


93,312







Cost of revenue:






 Online sponsorship and advertising


1,332


1,651


 Merchandise


10,255


12,817


 Publishing and other


5,359


4,923


 Total cost of revenue


16,946


19,391








 Gross profit


80,004


73,921







Operating expenses:






    Product and content development


20,234


18,662


    Sales and marketing


30,507


29,631


    General and administrative


16,497


15,713


    Long-lived asset impairment charges


958


716


    Depreciation and amortization


2,740


3,417


Total operating expenses


70,936


68,139








 Income from operations


9,068


5,782


 Loss in equity interest


(29)


(269)


 Interest and other income , net


73


516


 Income before income taxes


9,112


6,029


 Provision for income taxes


3,584


2,557


 Net income


5,528


3,472


 Plus: net loss attributable to non-controlling interest


65


22


 Net income attributable to the controlling interest


$                5,593


$                3,494







Net income per share attributable to XO Group common shareholders:






Basic


$                 0.23


$                0.12


Diluted


$                 0.22


$                0.11







Weighted average number of shares used in calculating net income per share






Basic


24,762


29,856


Diluted


25,328


30,522

 

XO GROUP INC.

 CONSOLIDATED BALANCE SHEETS

 (amounts in thousands)




September 30,


 December 31,



2012


2011



(unaudited)



 ASSETS





 Current assets:





 Cash and cash equivalents


$             72,707


$           77,376

 Accounts receivable, net


13,704


16,723

 Inventories


2,416


3,591

 Deferred production and marketing costs


830


1,050

 Deferred tax assets, current portion


3,015


3,015

Assets held for sale


1,290


-

 Other current assets


5,418


4,860

 Total current assets


99,380


106,615






 Long-term restricted cash


2,598


2,599

 Property and equipment, net


12,929


13,535

 Intangible assets, net 


5,931


6,938

 Goodwill


37,750


39,089

 Deferred tax  assets


15,607


15,605

 Other assets


523


58

 Total assets


$           174,718


$           184,439











 LIABILITIES AND EQUITY





 Current liabilities:





 Accounts payable and accrued expenses


$               7,951


$             11,054

 Deferred revenue


14,919


13,745

 Total current liabilities


22,870


24,799

 Deferred tax  liabilities


2,668


2,665

 Other liabilities


6,980


6,096

 Total liabilities


32,518


33,560






 Common stock


259


276

 Additional paid-in-capital


165,041


172,935

 Accumulated other comprehensive loss


(91)


-

 Accumulated deficit


(23,009)


(22,868)

 Total stockholders' equity


142,200


150,343

 Non-controlling interest in subsidiary


-


536

  Total equity


142,200


150,879

 Total liabilities and stockholders' equity


$           174,718


$          184,439

 

SOURCE XO Group Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so they don't have to be replaced and are instantly converted to become smart, connected devices.
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as soon as they are needed to take action.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts, GM of Platform at FinancialForce.com, will discuss the value of business applications on wearable ...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.