I.D. Systems Receives Follow-on Order From Leading U.S. Airline Valued at $500,000
WOODCLIFF LAKE, N.J., Dec. 1, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions, has received a follow-on purchase order from a leading U.S. airline to expand deployment of I.D. Systems' AvRamp™ wireless vehicle management system (VMS) on aircraft ground support equipment (GSE). The airline previously implemented the AvRamp system at two major U.S. airports. The follow-on order, valued in excess of $500,000, extends AvRamp deployment to a third major U.S. airport.
"We are pleased to expand the footprint of our technology with this airline, which was our first major customer in the North American aviation market," said Norman Ellis, I.D. Systems' chief operating officer. "We believe this follow-on order reflects the effectiveness and value of our solution in airport operations, which we view as a relatively untapped market for I.D. Systems, with hundreds of thousands of vehicles used in airports around the world. We look forward to additional opportunities to expand our business with this customer, as well as other airlines, airport authorities, and aircraft service providers such as baggage handlers, catering companies and aviation fuel suppliers."
AvRamp is the airport version of I.D. Systems' patented wireless VMS technology. The system's ability to help control who drives what vehicle and encourage good driving habits can significantly enhance safety in an airport's area of operations. AvRamp can also decrease GSE fleet costs by reducing fuel usage and improving maintenance management, and improve operational efficiency through GPS location tracking, two-way text messaging, and asset utilization analyses. For more information about the AvRamp system, please visit www.id-systems.com/avramp.
About Wireless Vehicle Management Systems
Vehicle Management Systems (VMS) help improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, sensing vehicle impacts, and monitoring vehicle speed. A wireless VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting vehicle problems electronically, scheduling planned maintenance according to actual usage rather than by calendar time, automatically shutting down idling vehicles to conserve fuel (and reduce emissions), and helping determine the optimal economic time to replace equipment. In addition, a wireless VMS helps improve productivity by establishing accountability for the use of equipment, ensuring vehicles are in the proper place at the right time, providing unique metrics on asset utilization, and optimizing vehicle routes through location tracking. For more information about I.D. Systems' VMS solutions, please visit www.id-systems.com/vehicle-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. For more information about I.D. Systems, 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, estimated product shipment dates, 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: Investor Relations Matt Glover/Michael Koehler Liolios Group, Inc. IDSY@liolios.com (949) 574-3860
Released December 1, 2014