I.D. Systems Receives Purchase Order from a Leading Global Online Retailer
WOODCLIFF LAKE, N.J., Aug. 10, 2017 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, has received an initial purchase order valued at $650,000 for one of the world's largest online retailers for its PowerFleet® Vehicle Management System.
I.D. Systems’ technology will be installed at three of the retailer’s European distribution centers in Germany, Italy and France. The customer selected PowerFleet based on its superior system performance, reporting and analytics capabilities, as well as its advanced workplace safety functions.
"We are thrilled that our PowerFleet system was selected by this major online retailer,” said Ute Filippone, ID Systems Business Manager EMEA & UK. “What makes this win even more gratifying is that it came after a tough competitive assessment, where we were able to exceed the customer’s stringent operational requirements. We will be deploying our solutions during the third quarter, and look forward to expanding our relationship in the future.”
About PowerFleet® Industrial Vehicle Management Systems (VMS)
I.D. Systems patented PowerFleet® Vehicle Management Systems (VMS) helps improve supply chain safety and productivity by establishing accountability for the use of forklifts and other industrial trucks, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on vehicle utilization. The PowerFleet® VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting equipment 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, PowerFleet® helps improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and sensing vehicle impacts.
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 M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, 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; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. 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, 2016. 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.
I.D. Systems Contacts Ned Mavrommatis, CFO firstname.lastname@example.org 201-996-9000 Liolios Group, Inc. Matt Glover IDSY@liolios.com 949-574-3860
Released August 10, 2017