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WOODCLIFF LAKE, N.J., Feb. 26, 2015 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions, has received a notice of allowance from the United States Patent and Trademark Office for a patent on an advanced cargo sensing system for dry van trailers and intermodal containers. Integrating a battery-powered, light-based sensor with an ultrasonic cargo detector, the system is designed to improve cargo sensing accuracy, maximize device battery life, and provide loaded/unloaded data without the need for an external door sensor.
"With this enhancement, our VeriWise trailer management system will provide critical, accurate information on loading-unloading cycle times for dry van trailers and intermodal containers—with cost-effective installation and minimal maintenance—to help our customers maximize their return on investment in their transportation assets," said Kenneth Ehrman, I.D. Systems' chairman and CEO. "We believe this addition to our patent portfolio will significantly enhance our competitive advantages in the dry van and intermodal container segments of our transportation asset management business."
I.D. Systems currently holds more than 75 patents related to its wireless M2M asset management systems.
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. I.D. Systems holds more than 75 patents related to its wireless solutions and has deployed VMS systems in more than 20 countries around the world. For more information, please visit www.id-systems.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, potential contract values, synergies, accretion or other financial information; initiatives for new products and processes, and plans, strategies, objectives, and initiatives 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 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. 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.
CONTACT: For Financial Press Matt Glover/Michael Koehler Liolios Group, Inc. IDSY@liolios.com (949) 574-3860 For Trade Press Greg Smith Vice President email@example.com (201) 996-9000
Released February 26, 2015