SAE
12 years ago
I.D. Systems Reports Record Third Quarter Revenue Up 74%, Net Income of $0.06 per Share (Non-GAAP)
I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for tracking, securing and managing high-value enterprise assets, today reported financial results for the three and nine months ended September 30, 2011.
Third Quarter of 2011 Financial Results
• Revenue increased 74% to $11.3 million from $6.5 million in the same period a year ago. The improvement was driven by increased sales of the company's wireless vehicle management systems for fleets of rental cars and industrial trucks. Recurring revenue in Q3 2011 was $4.2 million.
• Excluding stock-based compensation and depreciation and amortization, non-GAAP net income was $665,000, or $0.06 per basic and diluted share, compared to non-GAAP net loss of $1.1 million, or ($0.10) per basic and diluted share, in the same year-ago period.
• Net loss was $214,000, or ($0.02) per basic and diluted share, an improvement from a net loss of $1.9 million, or ($0.17) per basic and diluted share, in the same year-ago period.
• As of September 30, 2011, the company had $28.0 million in cash, cash equivalents and marketable securities, which equates to $2.32 per share outstanding, with no debt.
• As of September 30, 2011, under a stock repurchase program authorized in November of 2010, I.D. Systems has repurchased a total of 265,000 shares of its common stock at an aggregate purchase price of $1.1 million, including 69,684 shares at an aggregate purchase price of $324,000 in the third quarter of 2011. The program authorizes the repurchase of issued and outstanding shares of up to $3 million in aggregate value.
First Nine Months of 2011 Financial Results
• Revenue increased 47% to $27.5 million from $18.6 million in the same period a year ago. Recurring revenue in the nine months ended September 30, 2011 was $12.3 million, or 45% of total revenue.
• Selling, general and administrative expenses and research and development expenses decreased 9% to $19.1 million from $20.9 million in the same year-ago period.
• Excluding stock-based compensation and depreciation and amortization, non-GAAP net loss was $1.3 million, or ($0.12) per basic and diluted share, an improvement from a non-GAAP net loss of $7.3 million, or ($0.66) per basic and diluted share, in the same year-ago period.
• Net loss was $4.0 million, or ($0.37) per basic and diluted share, an improvement from a net loss of $9.9 million, or ($0.89) per basic and diluted share, in the same year-ago period.
Third Quarter of 2011 Operational Highlights
• Strong repeat business across all major product categories from core customers, including Alcoa, American Airlines, Audi, BASF, Caterpillar, Ford Motor Company, Knight Transportation, Marten Transportation, Nestlé, Procter & Gamble, the U.S. Postal Service, Walgreens, and Walmart.
• Record sales of VeriWise™ transportation asset management systems, many of which replaced competitors' systems; new customers include a leading global provider of multi-modal transportation services and a major U.S. logistics solutions provider.
• Growing sales of PowerFleet® and PowerBox™ industrial vehicle management systems through channel partners; new customers across diverse industries include a Fortune 100 food producer, a Fortune 500 retailer, one of North America's largest healthcare products suppliers, and a major U.S. building supply distributor.
• Continued success of direct sales of industrial vehicle management systems; new customers include a regional U.S. grocery chain, a North American consumer beverage producer, and a leading U.K.-based industrial products manufacturer.
• Expanded rental fleet management business with Avis Budget Group, which converted its 5,000-vehicle pilot program with I.D. Systems into a 60-month contract, placed an additional $14 million order to deploy I.D. Systems' technology on 25,000 more vehicles (with an option for global fleet deployment), and purchased an equity stake in I.D. Systems.
Management Commentary
"In the third quarter of 2011 we achieved our highest quarterly revenue to date and our fifth consecutive quarter of revenue growth," said Jeffrey Jagid, I.D. Systems' chairman and CEO. "We are also pleased by our net income of $0.06 per share, on a non-GAAP basis.
"Our strong third quarter revenue was driven by three factors: deployment of rental vehicle management systems for Avis Budget, which based its new "Avis On Location" virtual rental offering on our wireless technology; robust sales of our core industrial vehicle management systems; and record orders of our Asset Intelligence transportation management solutions. Our revenues continue to reflect a balance of product and service sales, with 45% of total revenue for the first nine months of 2011 coming from recurring sources.
"I.D. Systems' gross margins remain strong and stable, at 52% for the quarter and 53% for the nine-month period, consistent with the company's historical range. We also continue to closely manage costs, with combined SG&A and R&D expenses over the first nine months of 2011 9% lower than the same period last year."
Investor Conference Call
I.D. Systems will hold a conference call for investors and analysts today, Monday, October 31, 2011, at 10:30 a.m. Eastern time. The company's chairman and CEO, Jeffrey Jagid, will lead a discussion on the results of the quarter and recent developments, followed by a question and answer period.
The conference call will be broadcast live over the Internet via the investors section of the company's website at www.id-systems.com. To listen to the live call, go to the website at least 10 minutes early to download and install any necessary audio software.
Non-GAAP Measures
To supplement its financial statements presented in accordance with GAAP, I.D. Systems provides certain non-GAAP measures of financial performance. These non-GAAP measures include non-GAAP net income/loss and non-GAAP net income/loss per basic and diluted share. Reference to these non-GAAP measures should be considered in addition to results prepared under current accounting standards, but are not a substitute for, or superior to, GAAP results. These non-GAAP measures are provided to enhance investors' overall understanding of I.D. Systems' current financial performance. Specifically, I.D. Systems believes the non-GAAP measures provide useful information to both management and investors by excluding certain expenses, gains and losses that may not be indicative of its core operating results and business outlook. Reconciliation of all non-GAAP measures included in this press release to the nearest GAAP measures can be found in the financial tables included in this press release.
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 wireless 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, 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, 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, 2010. 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.
-- Tables to Follow --
I.D. Systems, Inc. and Subsidiaries
Statement of Operations Data
(Unaudited)
Three months ended
Nine months ended
September 30,
September 30,
2010
2011
2010
2011
Revenue:
Products
$ 2, 542,000
$ 6,912,000
$ 6,394,000
$ 14,675,000
Services
3,948,000
4,372,000
12,233,000
12,776,000
6,490,000
11,284,000
18,627,000
27,451,000
Cost of revenue:
Cost of products
1,507,000
3,833,000
3,347,000
8,359,000
Cost of services
1,595,000
1,529,000
4,891,000
4,531,000
3,102,000
5,362,000
8,238,000
12,890,000
Gross profit
3,388,000
5,922,000
10,389,000
14,561,000
Selling, general and administrative
4,424,000
5,669,000
17,587,000
16,490,000
Research and development expenses
1,089,000
827,000
3,362,000
2,603,000
Loss from operations
(2,125,000)
(574,000)
(10,560,000)
(4,532,000)
Interest income
179,000
60,000
575,000
160,000
Interest expense
(1,000)
--
(56,000)
--
Other income, net
89,000
300,000
94,000
350,000
Net loss
$ (1,858,000)
$ (214,000)
$ (9,947,000)
$ (4,022,000)
Net loss per share – basic and diluted
$ (0.17)
$ (0.02)
$ (0.89)
$ (0.37)
Weighted average common shares outstanding – basic and diluted
11,138,000
11,173,000
11,170,000
10,969,000
I.D. Systems, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
Three months ended September 30,
Nine months ended September 30,
2010
2011
2010
2011
Net loss attributable to common stockholders
$ (1,858,000)
$ (214,000)
$ (9,947,000)
$ (4,022,000)
Depreciation and amortization
477,000
584,000
1,447,000
1,796,000
Stock-based compensation
289,000
295,000
1,182,000
911,000
Non-GAAP net income (loss)
$ (1,092,000)
$ 665,000
$ (7,318,000)
$ (1,315,000)
Non-GAAP net income (loss) per share – basic and diluted
$ (0.10)
$ 0.06
$ ($0.66)
$ ($0.12)
I.D. Systems, Inc. and Subsidiaries
Condensed Balance Sheet Data
September 30, 2011
December 31, 2010*
(Unaudited)
ASSETS
Cash and cash equivalents
$14,491,000
$12,803,000
Investments – short term
4,565,000
6,731,000
Accounts receivable, net
7,044,000
6,412,000
Notes and lease receivable – current
353,000
211,000
Inventory, net
7,295,000
8,420,000
Interest receivable
53,000
70,000
Deferred costs – current
1,159,000
1,503,000
Prepaid expenses and other current assets
1,211,000
1,110,000
Total current assets
36,171,000
37,260,000
Investments – long term
9,364,000
8,486,000
Notes and lease receivable – less current portion
839,000
3,234,000
Deferred costs – less current portion
2,978,000
2,241,000
Fixed assets, net
3,853,000
3,147,000
Other assets
272,000
307,000
Goodwill
1,837,000
1,837,000
Intangible assets, net
5,571,000
4,692,000
Total assets
$60,885,000
$61,204,000
LIABILITIES
Accounts payable and accrued expenses
$9,141,000
$8,224,000
Deferred revenue – current portion
2,186,000
3,235,000
Total current liabilities
11,327,000
11,459,000
Deferred rent
199,000
289,000
Deferred revenue – less current portion
4,614,000
4,053,000
Total liabilities
16,140,000
15,801,000
Commitments and contingencies
Total stockholders' equity
44,745,000
45,403,000
Total liabilities and stockholders' equity
$60,885,000
$61,204,000
*Derived from audited balance sheet as of December 31, 2010.
I.D. Systems, Inc. and Subsidiaries
Statement of Cash Flows Data
(Unaudited)
Nine months ended September 30,
2010
2011
Cash flows from operating activities:
Net loss
$(9,947,000)
$(4,022,000)
Adjustments to reconcile net loss to cash used in operating activities:
Bad debt expense
92,000
165,000
Remeasurement of contingent consideration
(110,000)
--
Accrued interest income
11,000
(17,000)
Stock-based compensation expense
1,182,000
911,000
Depreciation and amortization
1,447,000
1,796,000
Deferred rent expense
(4,000)
90,000
Issuance of warrants
--
137,000
Changes in:
Accounts receivable
1,548,000
498,000
Note and lease receivable
224,000
(2,254,000)
Inventory
1,720,000
(1,125,000)
Prepaid expenses and other assets
(336,000)
66,000
Deferred costs
(2,027,000)
393,000
Deferred revenue
1,959,000
488,000
Accounts payable and accrued expenses
265,000
(917,000)
Net cash used in operating activities
(3,976,000)
(3,791,000)
Cash flows from investing activities:
Expenditures for fixed assets including website development
(1,406,000)
(211,000)
Business acquisition
(15,000,000)
--
Purchase of investments
(10,284,000)
(2,889,000)
Proceeds from sales and maturities of investments
38,872,000
1,618,000
Net cash provided by (used in) investing activities
12,182,000
(1,482,000)
Cash flows from financing activities:
Proceeds from issuance of shares
--
4,605,000
Proceeds from exercise of stock options
3,000
35,000
Purchase of treasury shares
--
(1,050,000)
Principal payments on line of credit
(11,638,000)
--
Net cash used in financing activities
(11,635,000)
3,590,000
Effect of foreign exchange rate changes on cash and equivalents
(3,000)
(5,000)
Net decrease in cash and cash equivalents
(3,432,000)
(1,688,000)
Cash and cash equivalents - beginning of period
19,481,000
14,491,000
Cash and cash equivalents - end of period
$16,049,000
$12,803,000
Supplemental disclosure of cash flow information:
Cash paid for interest
$56,000
$ --
Noncash activities:
Unrealized gain (loss) on investments
$154,000
$(17,000)
Shares withheld pursuant to stock issuance
$10,000
$47,000
Acquisition:
Fair value of assets acquired
$19,695,000
$ --
Liabilities assumed
(4,695,000)
--
Net cash paid
$15,000,000
$ --
CONTACT: Company
Ned Mavrommatis
Chief Financial Officer
Phone: 201-996-9000
ned@id-systems.com
Investor Relations
Liolios Group, Inc.
Scott Liolios or Matt Glover
Phone: 949-574-3860
info@liolios.com
SAE
12 years ago
I.D. Systems Receives Orders From The Raymond Corporation to Roll Out Wireless Vehicle Management Systems for Fortune 500 Com...
I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for tracking, securing and managing high-value enterprise assets, has received a series of purchase orders from The Raymond Corporation, a leading global provider of material handling solutions, to deploy I.D. Systems' PowerFleet™ wireless vehicle management system on fleets of lift trucks at the distribution centers of a leading North American company. The orders have a cumulative value of more than $600,000.
Raymond, through a marketing agreement with I.D. Systems, offers PowerFleet as part of its iWarehouse® fleet optimization system, which gathers, analyzes, and acts upon a comprehensive range of lift truck operational information to enable greater warehousing efficiency and lower material handling costs.
Kenneth Ehrman, President of I.D. Systems, said, "Working closely with our consultative Performance Services team as well as our Raymond partners, this Fortune 500 customer was able to extract significant economic value from our vehicle management technology. As a result, the customer is deploying our systems in its distribution centers across the U.S.
"We look forward to the continued growth of our relationship with Raymond Corporation," added Ehrman. "Together we help bring the best practices in safety and asset management to the material handling operations of our mutual customers."
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. Learn more at www.raymondcorp.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, 2010. 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
gsmith@id-systems.com
For Financial Media
Ned Mavrommatis, CFO
ned@id-systems.com
Raymond: (607) 656-2734
Elizabeth Buza
Marketing Communications
marcom@raymondcorp.com
gfp927z
12 years ago
>>> I.D. Systems Reports Record Third Quarter Revenue Up 74%, Net Income of $0.06 per Share (Non-GAAP)
Press Release Source: I.D. Systems, Inc. On Monday October 31, 2011, 9:00 am EDT
http://finance.yahoo.com/news/I-D-Systems-Reports-Record-pz-1891826001.html?x=0&.v=1
WOODCLIFF LAKE, N.J., Oct. 31, 2011 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY - News), a leading provider of wireless solutions for tracking, securing and managing high-value enterprise assets, today reported financial results for the three and nine months ended September 30, 2011.
Third Quarter of 2011 Financial Results
• Revenue increased 74% to $11.3 million from $6.5 million in the same period a year ago. The improvement was driven by increased sales of the company's wireless vehicle management systems for fleets of rental cars and industrial trucks. Recurring revenue in Q3 2011 was $4.2 million.
• Excluding stock-based compensation and depreciation and amortization, non-GAAP net income was $665,000, or $0.06 per basic and diluted share, compared to non-GAAP net loss of $1.1 million, or ($0.10) per basic and diluted share, in the same year-ago period.
• Net loss was $214,000, or ($0.02) per basic and diluted share, an improvement from a net loss of $1.9 million, or ($0.17) per basic and diluted share, in the same year-ago period.
• As of September 30, 2011, the company had $28.0 million in cash, cash equivalents and marketable securities, which equates to $2.32 per share outstanding, with no debt.
• As of September 30, 2011, under a stock repurchase program authorized in November of 2010, I.D. Systems has repurchased a total of 265,000 shares of its common stock at an aggregate purchase price of $1.1 million, including 69,684 shares at an aggregate purchase price of $324,000 in the third quarter of 2011. The program authorizes the repurchase of issued and outstanding shares of up to $3 million in aggregate value.
First Nine Months of 2011 Financial Results
• Revenue increased 47% to $27.5 million from $18.6 million in the same period a year ago. Recurring revenue in the nine months ended September 30, 2011 was $12.3 million, or 45% of total revenue.
• Selling, general and administrative expenses and research and development expenses decreased 9% to $19.1 million from $20.9 million in the same year-ago period.
• Excluding stock-based compensation and depreciation and amortization, non-GAAP net loss was $1.3 million, or ($0.12) per basic and diluted share, an improvement from a non-GAAP net loss of $7.3 million, or ($0.66) per basic and diluted share, in the same year-ago period.
• Net loss was $4.0 million, or ($0.37) per basic and diluted share, an improvement from a net loss of $9.9 million, or ($0.89) per basic and diluted share, in the same year-ago period.
Third Quarter of 2011 Operational Highlights
• Strong repeat business across all major product categories from core customers, including Alcoa, American Airlines, Audi, BASF, Caterpillar, Ford Motor Company, Knight Transportation, Marten Transportation, Nestle, Procter & Gamble, the U.S. Postal Service, Walgreens, and Walmart.
• Record sales of VeriWise(TM) transportation asset management systems, many of which replaced competitors' systems; new customers include a leading global provider of multi-modal transportation services and a major U.S. logistics solutions provider.
• Growing sales of PowerFleet(R) and PowerBox(TM) industrial vehicle management systems through channel partners; new customers across diverse industries include a Fortune 100 food producer, a Fortune 500 retailer, one of North America's largest healthcare products suppliers, and a major U.S. building supply distributor.
• Continued success of direct sales of industrial vehicle management systems; new customers include a regional U.S. grocery chain, a North American consumer beverage producer, and a leading U.K.-based industrial products manufacturer.
• Expanded rental fleet management business with Avis Budget Group, which converted its 5,000-vehicle pilot program with I.D. Systems into a 60-month contract, placed an additional $14 million order to deploy I.D. Systems' technology on 25,000 more vehicles (with an option for global fleet deployment), and purchased an equity stake in I.D. Systems.
Management Commentary
"In the third quarter of 2011 we achieved our highest quarterly revenue to date and our fifth consecutive quarter of revenue growth," said Jeffrey Jagid, I.D. Systems' chairman and CEO. "We are also pleased by our net income of $0.06 per share, on a non-GAAP basis.
"Our strong third quarter revenue was driven by three factors: deployment of rental vehicle management systems for Avis Budget, which based its new "Avis On Location" virtual rental offering on our wireless technology; robust sales of our core industrial vehicle management systems; and record orders of our Asset Intelligence transportation management solutions. Our revenues continue to reflect a balance of product and service sales, with 45% of total revenue for the first nine months of 2011 coming from recurring sources.
"I.D. Systems' gross margins remain strong and stable, at 52% for the quarter and 53% for the nine-month period, consistent with the company's historical range. We also continue to closely manage costs, with combined SG&A and R&D expenses over the first nine months of 2011 9% lower than the same period last year."
Investor Conference Call
I.D. Systems will hold a conference call for investors and analysts today, Monday, October 31, 2011, at 10:30 a.m. Eastern time. The company's chairman and CEO, Jeffrey Jagid, will lead a discussion on the results of the quarter and recent developments, followed by a question and answer period.
The conference call will be broadcast live over the Internet via the investors section of the company's website at www.id-systems.com. To listen to the live call, go to the website at least 10 minutes early to download and install any necessary audio software.
Non-GAAP Measures
To supplement its financial statements presented in accordance with GAAP, I.D. Systems provides certain non-GAAP measures of financial performance. These non-GAAP measures include non-GAAP net income/loss and non-GAAP net income/loss per basic and diluted share. Reference to these non-GAAP measures should be considered in addition to results prepared under current accounting standards, but are not a substitute for, or superior to, GAAP results. These non-GAAP measures are provided to enhance investors' overall understanding of I.D. Systems' current financial performance. Specifically, I.D. Systems believes the non-GAAP measures provide useful information to both management and investors by excluding certain expenses, gains and losses that may not be indicative of its core operating results and business outlook. Reconciliation of all non-GAAP measures included in this press release to the nearest GAAP measures can be found in the financial tables included in this press release.
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 wireless 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, please visit www.id-systems.com. <<<
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12 years ago
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