Tech News
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Alarm.com Enhances Smart Solution to Protect Homes From Water Damage
Published: Tuesday, September 29, 2015 | By: GlobalNewswireVIENNA, Va., Sept. 29, 2015 (GLOBE NEWSWIRE) -- Alarm.com (Nasdaq:ALRM), the leading platform solution for the smart home, has expanded its Smart Home Security solutions with a Water solution. An intelligent combination of sensors, devices and Alarm.com cloud services will detect water leaks, alert homeowners, and proactively respond to minimize damage.
Powered by Alarm.com's cloud platform, the Water solution protects homeowners from dangers and challenges that traditional security systems cannot address. The solution is completely integrated into Alarm.com's Smart Home Security offering, which gives homeowners control of the home and awareness of important events through an intuitive smartphone app.
In the event of a leak, a connected water sensor signals the Alarm.com platform through a dedicated cellular connection that operates during power outages and avoids reliability issues with broadband connections and home networking. The homeowner is immediately alerted through text or push notifications so they can take action to limit damage. With an automated water shut off valve—a new addition to Alarm.com's ecosystem of connected devices—the home's water supply is shut off automatically, immediately stopping the spread of water whether the homeowner is on-site or not.
"Alarm.com is focused on applying Smart Home technology to real challenges, making the home safer and smarter," said Jay Kenny, SVP of marketing at Alarm.com. "In addition to intrusion detection, automation and mobile app control, Smart Home Security gives homeowners real solutions for a wide range of potential threats, including fire, carbon monoxide and costly water damage caused by leaks.
Water damage is a significant cause of damage and property loss for residential homes. According to ACE Private Risk Services, leaks account for 23 percent of homeowner property loss annually*, and they are a major factor in unexpected home repair costs. Flood damage from frozen pipes, water heaters and appliances is common, and cleanup costs can exceed $20,000* if a leak goes undetected for long enough to flood a home. Alarm.com's Water solution is designed to detect and immediately alert a homeowner so that the leak can be addressed and the damage limited. With a water shutoff valve installed, the system can respond automatically.
In addition to water detection and shutoff features, Alarm.com's whole-home security solution offers many other ways for homeowners to guard against water damage. Low temperature threshold alerts indicate when a home's heating has malfunctioned and pipes are at risk of bursting. This awareness is useful for unoccupied second homes, which, thanks to the system's dedicated cellular connection, can be monitored year-round without broadband running. In the event of a leak, smart locks can be opened remotely to give access to a local plumber or trusted neighbor, and the security system re-armed remotely after they leave.
*Source: ACE Private Risk Services, based on SNL and ISO data.
Media Inquiries: Matt Zartman mzartman@alarm.com 571-356-9158 Chris Pilbeam cpilbeam@alarm.com 301-875-8232 About Alarm.com
Alarm.com, founded in 2000, is a leading technology provider of connected home services, powering millions of residential and commercial installations. Through its connected home platform, millions of people use Alarm.com to help protect and manage the things that matter most – their homes, families, and small businesses. Alarm.com connects a wide range of supported devices across the Internet of things to provide an integrated connected home experience through an intelligent cloud-based services platform and easy to use mobile app. Alarm.com solutions are sold exclusively through a network of licensed and authorized Dealer Partners. For more information, please visit www.alarm.com.
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CSC and Cloudera Partner to Achieve PCI and HIPAA Certification on Big Data Platform as a Service (BDPaaS) Offering
Published: Tuesday, September 29, 2015 | By: GlobalNewswirePALO ALTO, Calif., and FALLS CHURCH, Va., Sept. 29, 2015 (GLOBE NEWSWIRE) -- Cloudera, the leader in enterprise analytic data management powered by Apache HadoopTM, today announced that it has partnered with CSC (NYSE: CSC), a global leader in next-generation IT services and solutions, with support from Intel, to achieve the industry's most stringent security certifications for CSC's Big Data Platform as a Service (BDPaaS) offering: PCI and HIPAA. With this achievement, BDPaaS becomes the first Hadoop-based managed service to receive PCI and HIPAA certifications.
The Payment Card Industry Data Security Standard (PCI DSS) is an industry-wide framework for protecting consumer credit card data, and its security compliance standards are generally considered the market's most stringent. Beyond payment cards, PCI-level security is essential for many industries -- including banking, retail and healthcare -- where strict requirements dictate processes for handling sensitive information such as financial data and personally identifiable information.
In achieving PCI DSS certification for its BDPaaS offering, CSC becomes the first and only global technology services firm to provide a compliance-ready Hadoop platform as a service. This means Cloudera and CSC are now able to offer a PCI-ready environment for clients looking to host sensitive data within CSC's fully managed BDPaaS offering, which speeds and simplifies development, testing and deployment of big data applications.
The Health Insurance Portability and Accountability Act (HIPAA) ensures that all healthcare-related information conforms to a high standard of data security. The nature of healthcare data is very sensitive, and requires stringent security to ensure data theft does not occur. By achieving HIPAA compliance, BDPaaS provides assurance to patients and healthcare providers that the platform is safe for their data, allowing them to focus on their core mission of healthcare.
"Cloudera was critical to our PCI/HIPAA compliant solution," said Eddie Satterly, chief technology officer for CSC's Emerging Business Group. "The unique technologies of Cloudera Navigator, Cloudera Sentry, and other security capabilities essential to the successful audit of the solution."
For its part, Cloudera is "very excited to be bringing the HIPAA/PCI-ready service offering to market," said Tim Stevens, vice president, Corporate and Business, Cloudera. "CSC has shown its leadership and deep understanding of Cloudera's technology in reaching this high security bar. This offering presents an interesting option for those customers who need HIPAA or PCI-level security but would like a managed data platform."
The PCI DSS and HIPAA-certified solutions are designed using Intel x86 technology with the Red Hat Enterprise Linux OpenStack Platform within a CSC datacenter.
CompliancePoint served as the third-party evaluator to CSC and Cloudera for PCI and HIPAA compliance, and the Duluth, Georgia-based information security service company will also be available for audit services for any customers of BDPaaS.
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About CSC
Computer Sciences Corporation (CSC) is a global leader of next generation information technology (IT) services and solutions. The Company's mission is to enable superior returns on our client's technology investments through best-in-class industry solutions, domain expertise and global scale. CSC has approximately 70,000 employees and reported revenue of $11.7 billion for the 12 months ended July 3, 2015. For more information, visit the company's website at www.csc.com.
About Cloudera
Cloudera is revolutionizing enterprise data management by offering the first unified Platform for Big Data, an enterprise data hub built on Apache Hadoop. Cloudera offers enterprises one place to store, access, process, secure, and analyze all their data, empowering them to extend the value of existing investments while enabling fundamental new ways to derive value from their data. Cloudera's open source Big Data platform is the most widely adopted in the world, and Cloudera is the most prolific contributor to the open source Hadoop ecosystem. As the leading educator of Hadoop professionals, Cloudera has trained over 40,000 individuals worldwide. Over 1,800 partners and a seasoned professional services team help deliver greater time to value. Finally, only Cloudera provides proactive and predictive support to run an enterprise data hub with confidence. Leading organizations in every industry plus top public sector organizations globally run Cloudera in production.
Connect with Cloudera
Read our blogs: http://www.cloudera.com/blog/ and http://vision.cloudera.com/
Follow us on Twitter: http://twitter.com/cloudera
Visit us on Facebook: http://www.facebook.com/cloudera
Join the Cloudera Community: http://cloudera.com/community
Cloudera, Cloudera's Platform for Big Data, Cloudera Enterprise Data Hub Edition, Cloudera Enterprise Flex Edition, Cloudera Enterprise Basic Edition and CDH are trademarks or registered trademarks of Cloudera Inc. in the United States, and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners.
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CONTACT: Deborah Wiltshire Cloudera +1.650.644.3900 press@cloudera.com Anne Eisele CSC +1.703.641.2315 aeisele@csc.com
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Foresite Joins "Bit9 + Carbon Black Connect" Alliance Program as an Incident Response Partner
Published: Tuesday, September 29, 2015 | By: GlobalNewswireOVERLAND PARK, Kan., Sept. 29, 2015 (GLOBE NEWSWIRE) -- Foresite, an emerging leader of managed security services, today announced it has joined the "Bit9 + Carbon Black Connect" Alliance Program as an incident response (IR) partner.
As a "Connect" IR partner, Foresite uses Carbon Black to help its customers remediate cyberattacks and breaches. As the Foresite team identifies malicious files used to execute an attack, they use Carbon Black to pinpoint each endpoint and server on which malware has landed and reveal the entire "kill chain" of the attack, so responders can quickly see where and how the attack started. This enhanced visibility enables Foresite to rapidly contain attacks and accelerate remediation efforts.
"The Bit9 + Carbon Black partnership helps to minimize the time required to mitigate an incident, which means faster resolution to the critical data investigation process, and provides organizations continued improvement to their security posture through the remediation and 'lessons learned' processes," said Jason LeDuc, Foresite's vice president of consulting services.
"The Foresite team clearly values its customers' data," said Tom Barsi, vice president of business development for Bit9 + Carbon Black. "Now equipped with Carbon Black, this team has the ability to detect and respond to advanced attacks targeting these customers better than ever before."
About Foresite
Founded in 1997, Foresite has been the go-to provider of information security and network solutions for hundreds of companies and is now emerging as the preeminent source for managed security and compliance solutions. These unique and flexible solutions offer businesses innovative ways to address the liabilities of today's complex security and compliance requirements. Our professionals, long experienced and highly knowledgeable in IT management and security, apply their expertise to providing superior product performance and unparalleled customer service through Foresite's proprietary ProVision platform. Foresite is a Moneo Technology Solutions Company, headquartered in Overland Park, Kansas, with operations centers in Connecticut, and London.
About the "Bit9 + Carbon Black Connect" Alliance Partner Program
The "Bit9 + Carbon Black Connect" Alliance Partner Program enables security consulting and solution firms to deliver Bit9 + Carbon Black's leading endpoint threat detection, response and protection platform as a managed advanced threat protection service. With Bit9 + Carbon Black technology at the core of security offering, MSSPs and IR teams are able to offer their customers a complete advanced threat protection service that:
• Monitors every endpoint in real-time (servers, laptops, desktops) for threat indicators
• Investigates events to determine severity, accuracy and context
• Quickly escalates critical events for containment and remediationCONTACT: Jana Pinkerton Foresite 617.283.2898 Jana.Pinkerton@foresite.com
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Hundreds attend Spillman Users' Conference for software training, networking opportunities
Published: Tuesday, September 29, 2015 | By: GlobalNewswireSALT LAKE CITY, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Spillman Technologies kicked off its 2015 Users' Conference today as more than 775 attendees from 359 public safety agencies across the nation gathered in Salt Lake City. The annual conference provides Spillman customers with four days of networking and educational opportunities, hands-on workshops, and previews of the latest software innovations.
Spillman President and CEO Lance Clark opened the conference with a state of the company address, highlighting the conference theme: "Unlocking the Power of your Data." Clark also acknowledged Spillman's rapid growth and continued stability, with the addition of 236 new customers since last year's conference and 527 in the last three years. Following Clark's remarks, Spillman R &D Manager Josh Smith highlighted upcoming product releases, including an updated look and new name for Spillman's on-premises system, Spillman Flex. Smith also announced the current development of a new mobile app that will work with the Flex system. Other announced changes included enhanced functionality within Spillman's Computer-Aided Dispatch (CAD) mapping, jail management (JMS), and records management systems (RMS), and the addition of new field interview and mobile arrest forms.
Captain Richard Phillips took the stage to wrap up the Opening General Session of the conference, where he delivered a keynote address to those in attendance. The retired merchant mariner, who had been captured and held hostage by Somali pirates in 2009, spoke about his experience during the maritime hijacking and of his eventual rescue by U.S. Navy SEALs. His experiences were recounted in his autobiography, A Captain's Duty: Somali Pirates, Navy SEALs, and Dangerous Days at Sea, and dramatized in the 2013 film, Captain Phillips.
This year's conference will also feature a private evening performance by the World Classic Rockers, an ensemble group of all-star musicians from some of the greatest rock bands of all time. Members of Journey, Lynyrd Skynyrd, Boston, and more will come together to perform fan favorites like "Born to be Wild," "Sweet Home Alabama," and "Don't Stop Believing" at the Salt Palace Convention Center.
Classes at the 2015 Users' Conference will focus on specific training to fit the needs of every department at an agency. Attendees can choose from more than 100 beginner, intermediate, and advanced classes in 12 different tracks designed to help each agency maximize the investment in their Spillman systems. With a variety of user-taught best practices courses, attendees will also have the opportunity to hear directly from other customers about how they have optimized their Spillman systems. This year's conference will feature a new track of classes focused on Analytics, with presenters such as Command Solutions' Rich Hendricks, representatives from BAIR Analytics, a LexisNexis Company, as well as members of Spillman's Demo and Research & Design teams.
The annual conference will conclude with an awards banquet where Spillman will recognize customers celebrating their 10-, 15-, 20-, 25-year anniversaries with Spillman. Special recognition will be given to the four agencies celebrating 30-year anniversaries with Spillman in 2015. Additionally, the Logan Police Department of Utah earned the Spillman Customer Innovation Award in 2015 for its submission, "Logan City Communication Dispatch Trainee Daily Observation Report (DOR)."
Spillman Technologies serves sheriff's offices, police departments, communication centers, correctional facilities, and fire departments nationwide. Spillman specializes in integrated on-premises and cloud software solutions, including Computer-Aided Dispatch, Records Management Systems, Mobile Data & Field Reporting, Mapping & GIS, Jail Management Systems, Fire, Data Sharing, Personnel & Resources, and Analytics & Intelligence-Led Policing. For more information about Spillman, visit www.spillman.com.CONTACT: Ben Hale 800.860.8026 x. 1643 bhale@spillman.com Twitter: @SpillmanTech
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Yappn Partners With Hong Kong Based Ventris Capital to Expand Its Business Reach Throughout Asia
Published: Tuesday, September 29, 2015 | By: GlobalNewswireNEW YORK, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Yappn Corp. ("Yappn" or "Company") (OTCQB:YPPN), a leader in real-time language technology and translation services, is pleased to announce that it has partnered with Ventris Capital Advisors ("Ventris Capital") to increase its reach in Asia.
With strong ties to over 300 investors and corporations predominantly from the Asia Pacific region including China, Hong Kong, Taiwan, Singapore, Indonesia, Philippines, Korea and Australia, Ventris Capital, led by Co-Founder Tyler Doherty, intends to continue to expand Yappn's presence in the media, Ecommerce, customer care and brand messaging sectors throughout Asia.
Tyler Doherty states: "There are over 16 languages spoken in the Asian region and many different dialects for those languages. Yappn's platform is game-changing for businesses that want to globalize without incurring the heavy localization costs. We have already identified many companies which would benefit greatly from Yappn's real-time language and translation services that are simple and elegant and at a fraction of the cost compared to many people based services currently out in the market."
Tyler began his career at BMO Nesbitt Burns in Vancouver and prior to moving to Asia, he was a Vice-President at a private equity /family office based in Vancouver focused on investments in Chinese SMEs. His previous posts also include founder of Inishowen Partners, a boutique cross-border financial advisory firm which was responsible for investor relations and business development before being merged into Ventris Capital. Prior to founding Inishowen Partners, Tyler spent a year working at a Hong Kong publicly-listed company in the retail sector.
David Lucatch, CEO stated: "We are excited to have Ventris Capital to help support our sales efforts in Asia and consider this another valuable introduction by Winterberry Investments. Real-time language services is a huge growth opportunity throughout the region and as Yappn focuses on client acquisition, having a solid presence throughout the Asian region will support our sales expansion. Ventris Capital has strong ties with brands throughout Asia and they will help us identify the companies best suited to benefit from our Ecommerce, customer care and social language services applications."
For more information, please visit www.yappn.com.
To learn more about Why Language Matters to a growing global economy, visit our blog at www.whylanguagematters.com.
About Yappn
Yappn is a real-time multilingual company that amplifies brand and social messaging, expands online commerce and provides customer support by globalizing these experiences with its proprietary approach to language. Through its real-time multilingual amplification platform, Yappn eliminates the language barrier, allowing the free flow of communications in 67 languages.
Yappn focuses on delivering global reach and efficiencies without the need of human intervention, making the language experience immediate through all phases of Ecommerce, online events and content programming.
Yappn Corp. is publicly traded in the U.S. on the OTCQB – symbol "YPPN"
For more information, please visit http://www.yappn.com or contact:
David Lucatch, Founder and CEO
info@yappn.com
or
Jeanny So, VP, Corporate Communications
jeanny@yappn.com
T: 1.800.395.9943 x 228To be added to the news release distribution list, please email: jeanny@yappn.com with the word "News" on the subject line.
Forward Looking Information
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although Yappn Corp.'s management believes that such forward-looking statements are reasonable; it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Current Reports on Form 8-K and each subsequently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.
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Nexant Energy Software Forum 2015 Brings Together Demand Side Management, Energy Efficiency, Energy Retail and ISO Leaders
Published: Tuesday, September 29, 2015 | By: GlobalNewswireSAN FRANCISCO, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Nexant, a leading provider of software for utilities, today announced its 2015 Energy Software Forum is being held this week in La Jolla, California.
The software forum allows Nexant iEnergy, iHedge and RevenueManager software customers from around the world to gather and discuss best practices and share expertise. Product tracks will discuss use cases and results through interactive product sessions, case studies, and a look into the future of energy software.
About Nexant iEnergy, iHedge and RevenueManager
iEnergy® is a purpose-built, data management, analytics and customer engagement platform that fundamentally changes how utilities manage business processes and customer initiatives for energy efficiency, renewables, demand response and water conservation programs.
iHedge® is a comprehensive software platform that enables market participants to hedge congestion risks in transmission constrained electricity markets by providing competitive strategies through simulation of auctions, allocations of congestion revenue rights (CRR) and allocation of financial transmission rights (FTR).
RevenueManager® is a fully integrated, customer care, billing and contract management software platform that supports multiple commodities through the entire customer lifecycle—from prospecting, to customer acquisition, customer service and billing—in residential, commercial and industrial markets.
About Nexant
Nexant offers a comprehensive suite of best-in-class energy enterprise software platforms that transform utility business processes and enable implementation of smart grid, clean energy and demand management initiatives. Nexant software helps utilities embrace a customer-centric model that aligns strategic planning, grid operations and demand side management to improve customer engagement, boost operational efficiency, reduce risk and achieve superior business results. Learn more at www.nexant.com.
CONTACT: Heatheryn Higgins, Nexant Director of Communications +1.303.998.2474 hhiggins@nexant.com
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Imagination's Ensigma Communications IP Receives Wi-Fi CERTIFIED(TM) ac Certification and Bluetooth Smart Qualification
Published: Tuesday, September 29, 2015 | By: GlobalNewswireLONDON, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Imagination Technologies (IMG.L) announces it has received certification for Wi-Fi CERTIFIED™ ac and qualification for Bluetooth® Smart for its high-performance Ensigma Explorer radio processing unit (RPU) communications IP. Attained through Wi-Fi Alliance® and the Bluetooth SIG (Special Interest Group) respectively, these certifications instill a high level of confidence among chip makers on the quality and interoperability of Ensigma IP-based RPUs. The Wi-Fi® certification further makes Ensigma RPUs the world's first communications IP to be certified for 802.11ac.
Programmable Ensigma Explorer RPUs address the ever-growing challenge of proliferating communications and connectivity standards by supporting them all on a single architecture, and enabling them to be integrated onto SoCs for the lowest possible system cost. The high-performance Explorer family is complemented by the ultra-low power Ensigma Whisper communications IP family, which is designed specifically to enable the integration of ultra-low power communications in SoCs. All Ensigma RPUs are provided as a complete communications solution from RF to software.
Chakra Parvathaneni, Imagination's vice president of Ensigma Business Operations, says: "Our customers increasingly realize the benefits of implementing advanced communications processors on chip, rather than using a standalone solution – making Imagination's portfolio of end-to-end communications offerings particularly attractive to customers. The certification of the Ensigma Explorer RPUs will enable customers in a wide range of markets to reduce system costs and power consumption while delivering reliable advanced wireless connectivity with assured interoperability."
Wi-Fi CERTIFIED ac is the latest generation of Wi-Fi, which delivers multi-gigabyte data rates, enabling devices to handle demanding applications such as Ultra HD and 4K video, multimedia streaming and rapid file transfer on tablets, gaming devices, handsets and many other devices. In addition, Explorer RPUs have undergone a rigorous program that tests for performance, compliance with the specification, interoperability across vendors, and backward compatibility to older standards.
Bluetooth Smart consumes a fraction of the power of Classic Bluetooth radios, creating significant advantages for developers and manufacturers, while providing a better user experience for their customers. It extends the use of Bluetooth wireless technology to devices that are powered by small, coin-cell batteries such as watches and toys. Other devices such as sports and fitness, health care, keyboards and mice, beacons, wearables and entertainment devices are enhanced by this version of the technology.
Imagination's Wi-Fi CERTIFIED ac and Bluetooth Smart certifications join a growing list of existing certifications including Miracast®, Passpoint™, Wi-Fi CERTIFIED™ a/b/g/n, Wi-Fi Direct®, WPA™, WPA2™, WMM® and Wi-Fi Protected Setup™.
About Ensigma RPUs
The Ensigma range of RPUs includes the low-power Whisper family and the high-performance Explorer family, designed to address applications from ultra-low power to maximum performance, and with a common API, customers can reuse software across the platforms. Ensigma RPUs provide multi-standard support in a single architecture, designed to enable customers to bring standards such as Wi-Fi, Bluetooth Classic, Bluetooth Smart, NFC, GNSS and other existing or emerging low-power connectivity technologies onto their SoCs. By bringing this functionality on-chip, customers can minimize power consumption, silicon footprint and system cost compared with conventional solutions. Ensigma RPUs are shipping today in numerous low-power audio and connectivity devices with a growing range of designs in the pipeline.
About Imagination Technologies
Imagination is a global technology leader whose products touch the lives of billions of people across the globe. The company's broad range of silicon IP (intellectual property) includes the key processing blocks needed to create the SoCs (Systems on Chips) that power all mobile, consumer and embedded electronics. Its unique software IP, infrastructure technologies and system solutions enable its customers to get to market quickly with complete and highly differentiated SoC platforms. Imagination's licensees include many of the world's leading semiconductor manufacturers, network operators and OEMs/ODMs who are creating some of the world's most iconic products. See: www.imgtec.com.
Follow Imagination on Twitter, YouTube, LinkedIn, RSS, Facebook and Blog.
Imagination Technologies and the Imagination Technologies logo are trademarks of Imagination Technologies Limited and/or its affiliated group companies in the United Kingdom and/or other countries. All other logos, products, trademarks and registered trademarks are the property of their respective owners.
CONTACT: Imagination Technologies' Press Contacts: UK: David Harold david.harold@imgtec.com +44 (0)1923 260 511 USA: Jen Bernier-Santarini jen.bernier@imgtec.com +1 408-530-5178
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RiT Technologies Reports Second Quarter and Six Month 2015 Results
Published: Tuesday, September 29, 2015 | By: GlobalNewswire-Q2 2015 Revenue Increased 172% Year-Over-Year to $4.5 Million
-Q2 2015 Gross Margin Increased to 47% Compared to 31% in Q2 2014
TEL AVIV, Israel, Sept. 29, 2015 (GLOBE NEWSWIRE) -- RiT Technologies (NASDAQ:RITT), a leading provider of Converged Infrastructure Management Solutions that enable companies to maximize utilization and security of their network infrastructure announced today its results for the second quarter and six months ended June 30, 2015.
Financial Highlights for the Second Quarter Ended June 30, 2015
- Revenue for Q2 2015 increased 172% to $4.5 million, compared to $1.7 million in Q2 2014
- Gross margin for Q2 2015 improved to 47%, compared to 31% in Q2 2014
- Net Income for Q2 2015 was $0.1 million, or $0.01 per (basic and diluted) share, compared to a net loss of $(2.6) million or $(0.20) per (basic and diluted) share in Q2 2014
- Cash and cash equivalents as of June 30, 2015 was $1.2 million
- Shareholders' equity as of June 30, 2015, increased to $5.2 million, compared to $3.9 million on December 31, 2014
Financial Highlight for the Six Month Period Ended June 30, 2015
- Revenue for the first six months of 2015 increased 115% to $7.9 million, compared to $3.7 million in the same period of 2014
- Gross margin for the first six months of 2015 improved to 46%, compared to 36% in the same period of 2014
- Net profit for the first six months of 2015 was $0.1 million, or $0.01 per (basic and diluted) share, compared to a net loss of $(4.5) million, or $(0.35) loss per (basic and diluted) share recorded in the first six months of 2014
"Throughout the first half of 2015, RiT continued to capitalize on the combined strength of our improved operational platform and product/service offering, which resulted in favorable revenue growth and increased profitability," noted Yossi Ben-Harosh President and Chief Executive Officer of RiT Technologies. "With a robust and growing pipeline of opportunities, supported by a focused business strategy and commitment to superior execution, I am confident RiT is positioned to deliver increasingly strong results during the second half of 2015 and beyond."
"In addition to my joining in July, RiT has added proven, seasoned professionals to the sales and senior management teams to further strengthen the Company's position in the market. I am encouraged by what I've seen to date and look forward to the increasing contribution of these key individuals," concluded Mr. Ben-Harosh.
To more effectively define its service offering, RiT launched a new subsidiary RiT Wireless - focusing on global market penetration of RiT's advanced Indoor Wireless Optical Networks technology, Beamcaster 2.0.
And in addition two distinct lines of business as part of its strategy to focus on new opportunities with specific technologies and deployment models that address unique challenges and application needs:
- RiT Connectivity – a line of business that includes RiT's flagship products of SCS (smart cabling systems) and IIM (intelligent infrastructure management); with a commitment to maintaining its market leadership as the premium IIM solution in the market.
- RiT Software – a line of business promoting RiT's growth engine software product Converged Infrastructure Management System, CM 3.0, a platform that provides a unified way to manage converged systems and services to improve network utilization, streamline infrastructure operations, reduce costs and enhance data security.
About RiT Technologies
RiT Technologies (NASDAQ:RITT) is a leading provider of converged IT infrastructure management and connectivity solutions that improve network utilization, streamline infrastructure operations and enhance data security reduce network operation cost and optimize future investments.
RiT offers a platform that provides a unified way to manage converged systems and services to improve network utilization, streamline infrastructure operations, reduce cost and enhance data security. RiT's platform includes connectivity solutions such as IIM, (Intelligent Infrastructure Management), converged infrastructure management software, and indoor optical wireless technology.
Deployed around the world in data centers, large corporations, government agencies, financial institutions, telecommunications, airport authorities, healthcare organizations and educational facilities. RiT's shares are traded on the NASDAQ Capital Market under the symbol RITT.
Safe Harbor Statement
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate", "forecast", "target", "could" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described under the heading "Risk Factors" in our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 20-F, which may be revised or supplemented in subsequent reports filed with the SEC. These factors include, but are not limited to, the following: our ability to raise additional financing, if required; the continued development of market trends in directions that benefit our sales; our ability to maintain and grow our revenues; our dependence upon independent distributors, representatives and strategic partners; our ability to develop new products and enhance our existing products; the availability of third-party components used in our products; the economic condition of our customers; the impact of government regulation; and the economic and political situation in Israel. Except as otherwise required by applicable law, we expressly disclaim any obligation to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
RiT TECHNOLOGIES LTD. STATEMENTS OF OPERATIONS (U.S GAAP) (U.S dollars in thousands, except per share data) (Unaudited) Three Six Months Ended Months Ended June 30 June 30 2015 2014 2015 2014 Sales 4,549 1,674 7,936 3,690 Cost of sales 2,428 1,151 4,307 2,355 Gross profit 2,121 523 3,629 1,335 Operating expenses Research and development, net 450 786 825 1,473 Sales and marketing, net 740 1,007 1,483 2,163 General and administrative 789 1,298 1,145 2,133 Total operating expenses 1,979 3,091 3,453 5,769 Operating margin / (loss) 142 (2,568) 176 (4,434) Financing loss, net (28) (23) (44) (49) Other income (expenses), net Loss before income tax expense 114 (2,591) 132 (4,483) Taxes on income Net Profit / (Loss) 114 (2,591) 132 (4,483) Net Profit (Loss) Per Share -Basic and diluted 0.01 (0.20) 0.01 (0.35) Weighted average number of ordinary shares Outstanding- basic and diluted 15,541,306 12,763,218 15,541,306 12,763,218 RiT TECHNOLOGIES LTD. CONSOLIDATED BALANCE SHEETS (U.S GAAP) (U.S dollars in thousands, except per share data) (Unaudited) June 30,
2015 US$
thousandsDecember 31,
2014 US$
thousandsAssets Current Assets: Cash and cash equivalents 1,232 1,604 Trade receivables, net 5,951 1,680 Other current assets 431 335 Inventories 3,495 3,617 Total Current Assets 11,109 7,236 Assets held for severance benefits 893 967 Capitalized software development costs, net 193 0 Property and equipment, net 445 471 Total non-Current Assets 1,531 1,438 Total Assets 12,640 8,674 Liabilities and Shareholders' Equity Current Liabilities: Trade payables 1,755 967 Other payables and accrued liabilities 1,515 1,554 Total Current Liabilities 3,270 2,521 Principal shareholder convertible loan 3,000 1,000 Liability in respect of employees' severance benefits 1,168 1,224 Total of non-Current Liabilities 4,168 2,224 Total Liabilities 7,438 4,745 Shareholders' Equity: Share capital 3,384 3,384 Treasury stock (27) (27) Additional paid-in capital 73,380 72,239 Accumulated deficit (71,535) (71,667) Total Shareholders' Equity 5,202 3,929 Total Liabilities and Shareholders' Equity 12,640 8,674 CONTACT: Amit Mantsur CFO M: +972. 55.882.3734 amitm@rittech.com www.rittech.com
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More Than 80 Percent of Information Security Decision Makers Experienced File Data Leakage Incidents, Yet 84 Percent Expressed Moderate to no Confidence in Their Capacity to Secure Confidential Files
Published: Tuesday, September 29, 2015 | By: GlobalNewswire"State of File Collaboration Security" report highlights risks, threats and investment across North American mid-tier and large enterprises
SAN JOSE, Calif., Sept. 29, 2015 (GLOBE NEWSWIRE) -- FinalCode, Inc., the innovator in enterprise file security for a connected world, announced today that it has published the 2015 State of File Collaboration Security report, available for download at www.finalcode.com/en/fsreport/. Independent research for the report was conducted by Enterprise Management Associates (EMA) and offers key insights into file data leakage risks and incidents; security process and control maturity; perceived cloud-based file platform threats; and investments to preempt and contain file access and usage exposures. Survey respondents are comprised of information security decision makers in mid-tier and large enterprise organizations spanning multiple industries in North America.
Key findings of the report revealed that all responding organizations expressed significant concern for risk of data leakage due to inappropriate sharing or unauthorized access to files containing sensitive, confidential or regulated information. Correspondingly, more than 80 percent of survey participants were aware of data leakage incidents in their organizations. While the majority of IT organizations have enhanced technical controls and auditing, only 16 percent of the respondents felt highly confident in their file security investments – indicating an underlying insecurity in monitoring and enforcement capability. Fortunately, the vast majority of respondents, across IT, security and line of business roles, indicated that their organization plans to invest in stronger security controls.
The complete report and infographic can be downloaded at http://www.finalcode.com/en/fsreport/.
Join David Monahan, research director of risk and security management at EMA, and Scott Gordon, chief operating officer at FinalCode, on October 7, 2015 at 7 a.m. PDT / 2 p.m. GMT as they share findings, recommendations and innovative controls during the webinar, "File Insecurity, the Final Data Leakage Frontier." Register at: www.finalcode.com/en/fswebcast/.
Finding Highlights
As evidenced in the survey results, the growth of cloud and mobile computing, the ease at which files can be shared and the diversity of collaboration methods, applications and devices have all contributed to the frequency of file data leakage incidents. More so, the expansion of industry and government compliance mandates toward data security, and specifically safeguarding personally identifiable information (PII), has spurred companies to take action and investigate how to extend policies, processes and controls to further protect sensitive information within and outside an organization.
The survey and analysis of more than 150 respondents from mid-tier and large enterprises was completed by EMA in September 2015. It illustrates the nature of perceived file security threats and defenses within North American organizations. Survey highlights are:
- All organizations, across IT, security and line of business roles, are concerned about file data leakage risks, and 75 percent expressed very high to high concern
- 84 percent of participants had moderate to no confidence in their security controls and auditing capacity to secure confidential files
- More than 80 percent of survey participants experienced file data leakage incidents in their organization, and half expressed frequent incidents
- Inappropriate file sharing with others inside the organization, with those outside the organization, and through malware and hackers were cited as the most likely causes of data leakage
- More than 90 percent of respondents stated the lack of protection of files leaving cloud-based platforms or device containers as the highest risk to adopting cloud-based file storage and collaboration services
- While policy development and legal enforcement are foundational file security defenses, organizations plan to increase user awareness training and purchase additional security technology
- Email Gateway/Proxy and Data Loss Prevention (DLP) technologies were the top mature controls, while file encryption and usage control software was cited as the top upcoming control investment
- 70 percent of respondents believed that end users would invoke stronger security controls on files they share if empowered to do so
"Data dissemination and file collaboration are natural parts of most business and operational workflows, so must security be an integral part of the workflow to protect information. Unfortunately, protecting sensitive and regulated data within shared files remains a significant exposure within many organizations," said David Monahan, research director of risk and security management at EMA. "Our survey findings clearly show a gap between file security policies and practices and the efficacy of technical controls in place to monitor and enforce compliance to the existing policies. This lack of capability to control unstructured data as it moves through its lifecycle will not only yield more data privacy breaches but will impact the adoption of advanced enterprise and cloud content management systems."
"We are pleased to sponsor the 2015 State of File Collaboration Security report conducted by Enterprise Management Associates. The findings serve as useful metrics on the state of perceived risk, actual threats and control investments to protect files as companies extend their content management and collaboration strategies," said Scott Gordon, chief operating officer at FinalCode. "The independent research clearly validates the need for easy, flexible and persistent file security capabilities as exemplified in the FinalCode platform."
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EMA Research publishes 2015 State of File Collaboration Security report. Get it now compliments of FinalCode www.finalcode.com/en/fsreport/.
About FinalCode, Inc.
FinalCode offers organizations the ultimate means to secure sensitive files wherever they go within and outside the corporate network. Available as a SaaS or virtual appliance offering, FinalCode delivers enterprise-grade file security that works with popular applications, file storage, devices, cloud and content management systems and across all communication channels: trusted, untrusted, private or public. The solution allows for user-defined and corporate policy-enforced file security with an extensive array of granular controls and the ability to remotely delete files. The company's patented CryptoEase™ technology streamlines file security and encryption processes without requiring the user to remember passwords, and by dramatically reducing key management overhead, makes implementation of FinalCode rapid and scalable. Headquartered in San Jose, California, FinalCode offers its solutions through its global network of authorized partners. Learn more at http://www.finalcode.com.
About Enterprise Management Associates
Enterprise Management Associates (EMA) is a leading industry analyst firm that provides deep insight across the full spectrum of IT and data management technologies. EMA analysts leverage a unique combination of practical experience, insight into industry best practices, and in-depth knowledge of current and planned vendor solutions to help its clients achieve their goals. Learn more about EMA research, analysis, and consulting services for enterprise line of business users, IT professionals and IT vendors at www.enterprisemanagement.com or blogs.enterprisemanagement.com. You can also follow EMA on LinkedIn, Twitter, and Facebook.
©2015 FinalCode, Inc. is a privately held Delaware corporation. FinalCode, CryptoEase and the FinalCode logo, are trademarks or registered trademarks of FinalCode. Other names mentioned may be trademarks of their respective owners.
CONTACT: Media contact: Deb Montner Montner Tech PR 203-226-9290 dmontner@montner.com
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With Varonis, Central Connecticut State University Intelligently Empowers Professors and Staff With Control Over Data Access
Published: Tuesday, September 29, 2015 | By: GlobalNewswireNEW YORK, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Central Connecticut State University (CCSU), a regional, comprehensive liberal arts public university, was required to report twice a year on who had access to what file shares – the process the school had in place was inefficient and frustrating. With student employees moving in and out of the university every year, and academic departments constantly shifting, understanding access privileges and ensuring that the right people did or did not have access was essential, but running reports on this on a regular basis was not feasible. The school needed a solution that could be trusted to automate the process.
The search led CCSU's IT team to Varonis Systems, Inc. and its DatAdvantage for Windows and DataPrivilege solutions. Varonis (NASDAQ:VRNS) is the leading provider of software solutions for unstructured, human-generated enterprise data. CCSU's IT team is now able to put control over file access in the hands of data owners, such as academic professors or supervisors, eliminating much of the burden previously placed on their team. They are also able to run fast reports that allow them to keep an eye on these access privileges and ensure that no one is getting access to data that they do not need.
Faster, Precise Data Permissions
With DatAdvantage, the CCSU IT team can easily identify everyone at the university who has access to each folder and alter those permissions if necessary. File activity is logged in a single interface for their IT team, providing a window into who has the access to data, who has accessed it, and when. With DataPrivilege operating in tandem with DatAdvantage, CCSU is able to take an important, and crucial, step further. DataPrivilege gives business users (CCSU professors and general employees) the ability to review, grant and revoke access to folders that they oversee through an easy-to-use web application.
According to Rick Johnson, Systems Administrator at CCSU, "One of the biggest complaints we get at CCSU, as is the case at most universities, is about the amount of time that it takes for individuals' access rights to get removed after they leave or switch departments, or for new people to get access. Once we showed everyone that they could now manage these permissions themselves without calling the IT help desk and with almost an immediate turnaround, employees became proponents of the Varonis software and are happy to utilize it."
Mitigating Risk with a Least-Privilege Access Model
Beyond improving the file permissions workflow for IT and data owners, DatAdvantage and DataPrivilege also give CCSU's IT team peace of mind in the security of the sensitive data that resides in these files. By allowing CCSU IT to conduct frequent, fast audits on data access, the software keeps them abreast of any holes in the permissions structure and any employees who have access to more data than they need to do their job. Eliminating these excess permissions greatly reduces the risk of accidental or intentional leakage of any sensitive data.
According to Donna Stevenson, Operations and Database Support Specialist at CCSU, "In today's world, we really have to understand our data and who is responsible for it in order to keep it secure, and placing access management in the hands of data owners with Varonis DataPrivilege has made this process incredibly easier for us."
Additional Resources
- Read the CCSU Case Study here.
- For more information on Varonis' solution portfolio, please visit www.varonis.com.
- Join the Varonis conversation on Facebook, LinkedIn, Twitter, and YouTube.
About CCSU
Central Connecticut State University is a regional, comprehensive public university dedicated to learning in the liberal arts and sciences and to education for the professions. Comprising four schools--Business; Education & Professional Studies; Graduate Studies; and Science, Engineering & Technology, in addition to the Carol Ammon College of Liberal Arts & Social Sciences--CCSU offers undergraduate and graduate programs through the Master's and sixth-year levels and the Ed.D. in Educational Leadership. Committed to offering Connecticut citizens access to distinctive academic programs of high quality, the University is also a responsive and creative intellectual and economic resource for the people and institutions of our state's Capitol Region. More than 85 percent of CCSU graduates remain in Connecticut, contributing to the intellectual, cultural and economic health of the state.
About Varonis
Varonis is the leading provider of software solutions for unstructured, human-generated enterprise data. Varonis provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Varonis specializes in human-generated data, a type of unstructured data that includes an enterprise's spreadsheets, word processing documents, presentations, audio files, video files, emails, text messages and any other data created by employees. This data often contains an enterprise's financial information, product plans, strategic initiatives, intellectual property and numerous other forms of vital information. IT and business personnel deploy Varonis software for a variety of use cases, including data governance, data security, archiving, file synchronization, enhanced mobile data accessibility and information collaboration. As of June 30, 2015, Varonis had approximately 3,750 customers, spanning leading firms in the financial services, public, healthcare, industrial, energy & utilities, technology, consumer and retail, education and media & entertainment sectors.
CONTACT: News Media Contact: Natalie Rizk CTP 617-412-4000 x227 nrizk@ctpboston.com
