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WOODCLIFF LAKE, N.J., Jan. 28, 2013 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets, has received a series of purchase orders valued at approximately $450,000 to deploy its PowerFleet® wireless Vehicle Management System (VMS) for one of the world's largest manufacturers of agricultural and construction equipment. The VMS will be implemented on fleets of forklifts and other industrial vehicles at two of the equipment maker's primary manufacturing facilities in the United States. The manufacturer operates approximately 40 production plants across North America, Latin America, Europe, and Asia.
"We are gratified that another world class manufacturing company is rolling out our wireless vehicle management technology for managing material handling assets," said Jeffrey Jagid, I.D. Systems' chairman and CEO. "We are pleased to help this new customer employ best practices for workplace safety and material handling efficiency."
A wireless VMS helps improve workplace safety and security by restricting vehicle access to trained, authorized operators, requiring electronic vehicle inspection checklists, and providing automated management tools relating to vehicle accidents. A wireless VMS also helps reduce 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 material handling productivity by establishing equipment accountability, ensuring vehicles are in the proper place at the right time, and providing unique metrics on fleet utilization.
About I.D. Systems
Based in Woodcliff Lake, New Jersey, with subsidiaries in Germany and the United Kingdom, I.D. Systems is a leading provider of solutions for securing, controlling, tracking, and managing high-value enterprise assets, including vehicles, powered equipment, trailers, containers, baggage, and cargo. The Company's patented technologies address the needs of organizations to monitor and analyze their assets to improve safety, security, efficiency, and productivity. 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 acquisitions. 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, 2011. 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: Phone: 201-996-9000 Financial Media Ned Mavrommatis Chief Financial Officer email@example.com Trade Media Greg Smith Vice President firstname.lastname@example.orgSource: I.D. Systems, Inc.
Released January 28, 2013