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HACKENSACK, N.J., March 1, 2010 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset management solutions, today announced that it has received a series of follow-on purchase orders from Audi AG to expand deployment of I.D. Systems' PowerFleet(TM) Vehicle Management System on industrial trucks at Audi's flagship manufacturing plant in Ingolstadt, Germany.
Associated with this expansion, I.D. Systems will integrate Audi's existing SAP human resource management system with the PowerFleet database, so that vehicle access control parameters will be updated automatically with operator training profiles maintained in SAP.
The Audi Group, one of the world's leading manufacturers of premium cars, including the Audi and Lamborghini brands, is a unit of Volkswagen AG, Europe's largest auto maker. In 2008, Audi sold more than 1,000,000 vehicles, generating revenues of EURO 34.2 billion, with pre-tax earnings of approximately EURO 3.2 billion. In 2009, Volkswagen sold almost 6.3 million vehicles--a new record.
The follow-on orders for PowerFleet were released under a corporate blanket purchase order issued in 2009, which enables Volkswagen facilities, as well as Audi plants, to implement PowerFleet systems.
Wireless Vehicle Management Systems (VMS) help improve supply chain productivity by establishing accountability for the use of industrial trucks, such as forklifts, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on vehicle utilization. A wireless VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting equipment 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.
"We are gratified that Audi is expanding its use of our VMS technology and interfacing PowerFleet with its SAP employee management system," said Peter Fausel, I.D. Systems' executive vice president of sales. "We believe this expansion reflects the significant value PowerFleet has for Audi in its efforts to make its material handling operations safer, more cost-effective, and more productive."
About I.D. Systems:
Based in Hackensack, New Jersey, with subsidiaries in Germany and the United Kingdom, I.D. Systems is a leading provider of wireless solutions for managing and securing high-value enterprise assets, including industrial vehicles, such as forklifts and airport ground support equipment, and rental vehicles. The Company's patented technology, which utilizes radio frequency identification, or RFID, technology, addresses the needs of organizations to control, track, monitor and analyze their assets. For more information, visit www.id-systems.com.
"Safe Harbor" statement:
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 integration plans in connection with the acquisition. 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, 2008. 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: I.D. Systems, Inc. Financial Press Ned Mavrommatis, Chief Financial Officer email@example.com Trade Press Greg Smith, VP Marketing firstname.lastname@example.org 201-996-9000 Fax: 201-996-9144
Released March 1, 2010