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WOODCLIFF LAKE, N.J., Jan. 13, 2011 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset management solutions, today announced that it has received purchase orders totaling approximately $1.1 million from The Raymond Corporation, which offers I.D. Systems' PowerFleet™ vehicle management system through a marketing agreement. The system will be deployed enterprise-wide across the industrial truck fleets of a major North American provider of package delivery and logistics services.
The Raymond Corporation is a leading global provider of material handling solutions, including Raymond® brand lift trucks and the iWarehouse® fleet optimization system.
Kenneth Ehrman, president of I.D. Systems, said, "The best-in-class vehicle management systems and fleet optimization tools that we provide jointly with Raymond provide end-users with compelling value, as demonstrated by the investment that this package delivery and logistics organization has made in our solutions. I.D. Systems' wireless technology helps customers establish best practices for material handling safety, reduce capital and operating costs, and increase supply chain productivity."
About Wireless Vehicle Management Systems
A wireless vehicle management system (VMS) helps improve material handling productivity by establishing accountability for the use of equipment, ensuring equipment is in the proper place at the right time, and providing unique fleet utilization metrics. A wireless VMS also helps reduce industrial 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 workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and managing vehicle impacts.
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.
About The Raymond Corporation
The Raymond Corporation is a global provider of unmatched material handling technology, expertise and support to increase productivity and cost-efficiency. High-performance, reliable Raymond® lift trucks range from a full line of manual and electric pallet trucks and walkie stackers to counterbalanced trucks, Reach-Fork® trucks, orderpickers and Swing-Reach® trucks. Through its CustomCare™ approach, Raymond and its Sales and Service Centers deliver a comprehensive package of personalized enterprise solutions — like the iWarehouse® fleet optimization system, in-depth industry knowledge and consulting, flexible financing, OSHA-compliant training, and industry-leading asset protection — to optimize warehouse operations.
"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, 2009. 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: (201) 996-9000 For Trade Media Greg Smith, VP email@example.com For Financial Media Ned Mavrommatis, CFO firstname.lastname@example.org Raymond: (607) 656-2734 Elizabeth Buza Marketing Communications email@example.comSource: I.D. Systems, Inc.
Released January 13, 2011