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WOODCLIFF LAKE, N.J., March 5, 2015 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for the Industrial Internet of Things, has completed its "I.D. Systems 2.0" strategic initiative, aimed at building quality, repeatable and scalable processes to support the company's goals for revenue growth and profitability. Examples of projects completed under the initiative include:
"We accomplished all of our primary goals for the 'I.D. Systems 2.0' initiative," said Kenneth Ehrman, I.D. Systems' chairman and CEO. "Our targeted short-term investments accelerated the commercialization of four important new products and improved the quality and scalability of our services to address key customer requirements in our target markets. We believe this initiative contributed directly to the company's record annual revenue, double-digit year-over-year revenue growth, and continued leadership in the rapidly growing wireless VMS market. We look forward to continue working toward consistent, profitable revenue growth and a growing market share, leveraging the accomplishments of our 'I.D. Systems 2.0' initiative."
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless 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.
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; expectations for growth of the business; 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: Investor Relations Liolios Group, Inc. Matt Glover or Michael Koehler 949-574-3860, IDSY@liolios.com
Released March 5, 2015