Woodcliff Lake, NJ, December 20, 2013—I.D. Systems, Inc. (Nasdaq: IDSY), a leading provider of wireless M2M asset management solutions, today announced that it has recently received purchase orders from multiple enterprise customers to expand their deployments of I.D. Systems’ Powerfleet® wireless Vehicle Management System (VMS) for industrial truck fleets.
- One of the world’s largest consumer packaged goods companies is deploying the Powerfleet VMS at a facility in the U.K., increasing the total number of vehicles it has equipped with Powerfleet to more than 1,000 across 11 countries. The value of the U.K. site order is approximately $200,000.
- A Fortune 100 retailer is adding Powerfleet to another U.S. distribution center, bringing to more than 20 the total number of facilities in which it has deployed Powerfleet. The order for the additional distribution center is valued at approximately $370,000.
- A leading global tire manufacturer is implementing Powerfleet at four additional U.S. production plants. After installation, the tire maker will be managing more than 650 vehicles with Powerfleet across seven plants. The aggregate value of the four new plant orders is approximately $675,000.
- A Fortune 500 food producer is expanding its Powerfleet deployment to a fifth U.S. distribution center. The new order, valued at approximately $115,000, brings the customer’s cumulative Powerfleet deployment to more than 250 vehicles across the five sites.
- A U.S. government organization has placed a series of purchase orders, valued at approximately $400,000, to sustain and expand its enterprise-wide deployment of the Powerfleet VMS, which encompasses more than 5,000 vehicles across more than 100 facilities.
“We are gratified that our wireless VMS technology continues to provide benefits that compel our customers to expand system deployment across their enterprises,” said Jeffrey Jagid, I.D. Systems’ chairman and CEO. “We believe that our Powerfleet VMS is viewed by our customers as a best practice for material handling management, to help optimize the safety, cost-effectiveness, and productivity of industrial truck fleets.”
About Wireless VMS
Wireless Vehicle Management Systems help improve material handling productivity by establishing accountability for the use of equipment, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on equipment utilization. A wireless VMS also 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 workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and sensing vehicle impacts.
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 rental cars, industrial vehicles, 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, visit idsy2019.wpengine.com.
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; projections of earnings, revenues, synergies, accretion or other financial information; and plans, strategies and objectives of management for future operations, including utilizing channel partners and controlling operating costs. 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, 2012. 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. Unless otherwise required by applicable law, 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.
