Niklas Bjorkman wrote: Firstly I agree with your conclusion. NewSQL takes the best of the traditional databases and NoSQL databases to combine the benefits of both worlds. I do not agree that NewSQL vendors focus on giving scale-out features to transactional data. The NewSQL market is focusing on giving true ACID support combined with extreme performance, stepping away from the traditional relational structures in databases. A lot of developers appreciate the ease of accessing data using SQL and I think we will see more and more databases supporting standard SQL.
As you said - NewSQL databases often maintain the...
In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
BURLINGAME, Calif., Nov. 12, 2012 /PRNewswire/ -- AeroCentury Corp. (NYSE Amex: ACY), an independent aircraft leasing company, today reported its operating results for the third quarter ended September 30, 2012.
The Company reported net income of $1.1 million, or $0.71 per diluted share, for the third quarter of 2012, compared to a net loss of $0.2 million, or ($0.16) per diluted share, for the third quarter of 2011. The Company reported net income of $3.4 million, or $2.18 per diluted share, for the nine months ended September 30, 2012, compared to a net loss of $2.7 million, or ($1.73) per diluted share, for the nine months ended September 30, 2011.
Total revenues were $7.1 million and $21.4 million for the third quarter and nine months ended September 30, 2012, respectively, compared with total revenues of $6.2 million and $17.9 million for the same periods a year ago. The year-to-year increases were primarily due to increases in operating lease revenue and maintenance reserves revenue resulting from higher average utilization of the Company's asset portfolio in the 2012 periods and revenue from assets that were purchased subsequent to the 2011 periods. In addition, the operating lease revenue and maintenance reserves revenue in the 2011 periods were negatively affected by a write-off in those periods regarding the collectability of certain lease and reserves receivables.
Total expenses decreased by approximately $1.2 million and $5.7 million in the third quarter and nine months of 2012 as compared to the same periods in 2011, resulting primarily from a year-over-year decrease in maintenance expense, the effect of which was partially offset by an increase in interest expense. The 2011 periods included significant maintenance expense, funded by non-refundable maintenance reserves, on aircraft returned to the Company during 2010. Interest expense was higher in the 2012 periods, primarily as a result of a higher fee amortization related to the Company's credit facility, which was extended for one year in March 2012, and a higher average credit facility balance in 2012 as a result of aircraft acquisitions.
AeroCentury is an aircraft operating lessor and finance company specializing in leasing regional aircraft and engines utilizing triple net leases. The Company's aircraft and engines are leased to regional airlines and commercial users worldwide.
(see tables following)
AeroCentury Corp. Selected Financial Information (in thousands, except share and per share data)
For the Three Months
Ended September 30,
For the Nine Months
Ended September 30,
2012
2011
2012
2011
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
Revenues and other income:
Operating lease revenue
$5,793
$4,948
$17,389
$13,815
Maintenance reserves revenue
1,264
1,099
3,027
2,275
Gain on disposal of assets
-
-
874
1,371
Other income
26
154
80
390
7,083
6,201
21,370
17,851
Expenses:
Depreciation
1,546
1,445
4,526
4,107
Interest
1,234
978
3,459
2,911
Management fees
1,092
909
3,085
2,785
Maintenance costs
807
2,721
3,175
10,229
Professional fees and other
642
498
1,899
1,853
5,321
6,551
16,144
21,885
Income/(loss) before income tax provision/(benefit)
1,762
(350)
5,226
(4,034)
Income tax provision/(benefit)
649
(107)
1,827
(1,363)
Net income/(loss)
$1,113
$ (243)
$ 3,399
$(2,671)
Earnings/(loss) per share:
Basic
$ 0.72
$ (0.16)
$ 2.20
$ (1.73)
Diluted
$ 0.71
$ (0.16)
$ 2.18
$ (1.73)
Weighted average shares used in earnings per share computations:
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SYS-CON Events announced today that MetraTech Corp., the leading provider of agreements-based billing™, commerce and compensation solutions, has been named “Bronze Sponsor” of SYS-CON's 12th International Cloud Expo, which will take place on June 10–13, 2013, at the Javits Center in Ne...
Cloud computing is more than a buzz-phrase it’s a transformative IT paradigm shift. The emphasis in the cloud is on elasticity, scalability, agility and open. Not just open standards but open APIs and open source. The delivery of software is also going through a paradigm shift. Open so...
Service Component Architecture (shortly referred as SCA) is a technology for creating services from components. SCA is a set of OASIS standards and part of it is developed with the collaboration of vendors from open source community, referred as “OSOA” Open SOA. SCA helps to build syst...
In an ideal developer/systems administrator’s world, most applications would deploy seamlessly to multiple platforms and scale elastically with minimal effort bringing the unprecedented agility of the cloud within immediate reach of developer teams and IT organizations.
OpenStack, a ...
Storage and Archive offerings are now exploding on the market. From end-user mobile devices to company tactical level, the cloud has become a black hole for every kind of data. But what are the risks, and what are the real needs?
In his session at the 12th International Cloud Expo, A...
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