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WOODCLIFF LAKE, N.J., Aug. 14, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions, will ring the NASDAQ Stock Market Opening Bell this Friday, August 15, 2014.
"The ringing of the opening bell will celebrate our 15th year on the NASDAQ since our IPO in 1999," said Kenneth Ehrman, I.D. Systems' chairman and CEO. "It will also highlight the progress we've made with our new 'I.D. Systems 2.0' strategy, designed to produce more sustainable, predictable growth and profitability commensurate with our blue chip customer base and unique technology."
Second quarter 2014 revenues were up 22% to a record $11.4 million, driven primarily by a 41% increase in sales of the company's industrial vehicle management systems. The company recently reported several key customer wins, including major commercial contracts for its two new transportation asset management products.
"On behalf of our new board and executive team, I would like to thank our loyal employees, customers and investors for their support that has helped I.D. Systems achieve a leadership position in the multi-billion dollar M2M space," continued Ehrman. "We invite everyone to join us via the live TV broadcast and online webcast of the NASDAQ opening bell ceremony."
The event will be broadcasted from the NASDAQ's MarketSite in New York City starting at 9:15 a.m. Eastern time, and viewable online via this link: https://new.livestream.com/nasdaq/live. CNBC and Bloomberg TV are also expected to cover the event.
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. For more information, please visit www.id-systems.com.
CONTACT: I.D. Systems Ned Mavrommatis Chief Financial Officer Phone: 201-996-9000 firstname.lastname@example.org Investor Relations Liolios Group, Inc. Matt Glover or Michael Koehler Phone: 949-574-3860 email@example.com
Released August 14, 2014