I.D. Systems Receives Additional Follow-On Purchase Orders From Fortune 100
WOODCLIFF LAKE, N.J., June 30, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc.
(Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions,
has received a series of purchase orders, valued at more than $800,000, to
deploy its PowerFleet® wireless Vehicle Management System (VMS) on fleets of
lift trucks at multiple distribution centers of a Fortune 100 company.
Following implementation, I.D. Systems will have deployed its wireless VMS
technology in approximately 30 of the end user's facilities.
The orders were generated by one of I.D. Systems' channel partners.
"We are gratified that this Fortune 100 end user continues to expand its
deployment of our wireless technology across its distribution network," said
Kenneth Ehrman, I.D. Systems' chairman and CEO. "The current series of
purchase orders follows prior tranches of orders we received in the first
quarter and early in the second quarter of 2014. We view this as a clearly
implied endorsement of the many benefits of our patented wireless VMS
technology—and its compelling return on investment."
About Wireless Vehicle Management Systems
A wireless vehicle management system (VMS) helps improve workplace safety and
security by restricting vehicle access to trained, authorized operators,
providing electronic vehicle inspection checklists, and managing vehicle
impacts. A wireless VMS helps reduce industrial fleet maintenance costs by
automatically uploading vehicle data, reporting vehicle problems
electronically, scheduling maintenance according to actual vehicle usage
rather than by calendar or manual data entry, and helping determine the
optimal economic time to replace equipment. In addition, a wireless VMS helps
improve material handling productivity by establishing accountability for the
use of equipment, ensuring equipment is in the proper place at the right time,
and providing unique fleet utilization metrics.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas,
Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global
provider of wireless M2M solutions for securing, controlling, tracking, and
managing high-value enterprise assets, including industrial vehicles, rental
cars, trailers, containers, and cargo. The company's patented technologies
address the needs of organizations to monitor and analyze their assets to
increase efficiency and productivity, reduce costs, and improve profitability.
PowerFleet® is a registered trademark of I.D. Systems. For more information,
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of
federal securities laws. Forward-looking statements include statements with
respect to I.D. Systems' beliefs, plans, goals, objectives, expectations,
anticipations, assumptions, estimates, intentions, and future performance, and
involve known and unknown risks, uncertainties and other factors, which may be
beyond I.D. Systems' control, and which may cause its actual results,
performance or achievements to be materially different from future results,
performance or achievements expressed or implied by such forward-looking
statements. All statements other than statements of historical fact are
statements that could be forward-looking statements. For example,
forward-looking statements include: statements regarding prospects for
additional customers; market forecasts; potential barriers to competition;
projections of earnings, revenues, synergies, accretion or other financial
information; and plans, strategies and objectives of management for future
operations. The risks and uncertainties referred to above include, but are not
limited to, future economic and business conditions, the loss of key customers
or reduction in the purchase of products by any such customers, the failure of
the market for I.D. Systems' products to continue to develop, the possibility
that I.D. Systems may not be able to integrate successfully the business,
operations and employees of acquired businesses, the inability to protect I.D.
Systems' intellectual property, the inability to manage growth, the effects of
competition from a variety of local, regional, national and other providers of
wireless solutions, and other risks detailed from time to time in I.D.
Systems' filings with the Securities and Exchange Commission, including its
annual report on Form 10-K for the year ended December 31, 2013. These risks
could cause actual results to differ materially from those expressed in any
forward looking statements made by, or on behalf of, I.D. Systems.I.D.
Systems assumes no obligation to update the information contained in this
press release, and expressly disclaims any obligation to do so, whether as a
result of new information, future events or otherwise.
CONTACT: For Financial Press
Matt Glover/Michael Koehler
Liolios Group, Inc.
For Trade Press
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