Robert Heath Trucking Selects I.D. Systems’ Powerfleet Solutions

Refrigerated and In-Cab ELD Compliance a Key to Transporting Perishable Products Safely

WOODCLIFF LAKE, N.J., March 04, 2019 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management and industrial Internet of Things technology (IoT), today announced an agreement with Robert Heath Trucking for the deployment and installation of the Powerfleet for Logistics refrigerated and ELD compliant solutions.  Founded in 1939, Robert Heath Trucking is a leading middle market refrigerated trucking operation transporting highly sensitive food products throughout the central and western half of the United States.

“Having a great customer like Robert Heath deploy both our refrigerated trailer systems and our in-cab units with ELD is a testament to the value of our recent CarrierWeb acquisition,” said Norm Thomas, VP and GM of I.D. Systems’ Logistics Visibility group. “Robert Heath is known in the industry for their excellent customer service and efficient operations and we are proud to help them be successful,” Norm added.

The I.D. Systems ELD compliant solution is in-cab and powered by the LV9000 hardware device, which is an on-board solution that enables two-way communication with the driver and customized driver workflow.  The Powerfleet telematics solution automatically appends pertinent dispatch data from the customer’s workflow to the driver’s logs, which in turn reduces redundant driver input and helps eliminate possible log violations for inaccurate data.

The Powerfleetin-cab system also provides real-time positions with minute-by-minute reporting and real-time engine performance information such as speed, MPG, idle time, and fault codes.  This performance data can be used to benchmark driver performance and behavior and/or truck performance.  Additionally, the solution also supports ALK PC Miler truck-specific navigation, which then ties to the fleet’s dispatch information to automatically capture the address of the next stop – thus eliminating the need for drivers to enter data manually.

“Our motto has always been “America’s Best” and that is a promise to our customers on each and every load we haul. Our drivers are the key to making sure we follow through on that promise by maintaining our on-time service rating of greater than 98% and we’ve chosen Powerfleet for Logisticsto support our drivers in executing at that service level for our customers,” said Brent Shankle, Chief Operating Officer of Robert Heath.

The Powerfleet refrigerated solution is fully integrated with Carrier® Transicold® and Thermo King® microprocessors, and provides full, over the air reefer monitoring of temperature, alarms, operational status and changes.  In addition, the solution also provides GPS tracking, Two-way command and control to adjust reefer conditions as necessary from dispatch, landmarks for accurate reporting of arrival and departure times, fuel usage reporting by landmark, and dwell time reporting.

The recently acquired CarrierWeb operation is being integrated in the I.D. Systems Logistics Visibility group, becoming Powerfleet for Logistics. The complete bumper-to-bumper technologies include: in-cab with workflow, diagnostics and ELD; refrigerated trailer and container two-way management, dry van and intermodal container tracking technologies. In addition, there is a complete line of sensors for monitoring the status of both assets and cargo, as well as their new deep learning voice interface Lucy® application to help improve real-time decision making.

Learn more about the latest I.D. systems solutions at www.logisticsvisibility.com.

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Florida, 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 such as 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, please visit idsy2019.wpengine.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 a result of new information, future events, or otherwise.

I.D. Systems Contact

Ned Mavrommatis, CFO
ned@id-systems.com
(201) 996-9000

Investor Contact

Matt Glover
Liolios
IDSY@liolios.com
(949) 574-3860

Media Contact

Michael H. Hardman
Hardman Group, Inc.
mike@hardmangrp.com
330-285-4141

I.D. Systems’ LV Series Platform Selected as a Heavy Duty Trucking Magazine Top 20 Product for 2018

Recognizes New Logistics Visibility Product Suite for Innovation and Industry Impact

WOODCLIFF LAKE, N.J., Feb. 14, 2019 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management and Industrial Internet of Things technology, has been named a recipient of Heavy Duty Trucking’s Top 20 Products of 2018 Award for its LV Asset and Cargo Visibility Series (LV Series), a suite of products that raises the bar in technologies targeting the logistics industry.

Each year, Heavy Duty Trucking editors attend press conferences and review an array of news releases on the latest new products for trucking that have appeared in the magazine or on the Truckinginfo.com website. At year’s end, they identify the very best of the year’s introductions for the Top 20 Products, which are chosen based on the level of innovation, ability to address significant industry issues, and potential benefit to the bottom line.

I.D. Systems’ LV Series is a line of sophisticated asset-tracking and telemetry products that offer new ways to access more than asset location and sensor data but also monitor the cargo inside the trailer or container. In addition, there’s Lucy ®, an interactive voice-user interface for accessing operational and analytical data to assist with making better decisions. The LV Series offers significant benefits that include: optimizing driver efficiency, identifying underutilized assets, reducing idle times, faster turns, and verifying trailer and cargo status before hook-up – all of which improve productivity and the driver’s quality of work-life. I.D. Systems debuted the LV series in October 2018 at the American Trucking Associations’ Management Conference and Exhibition.

“We are proud to be recognized by Heavy Duty Trucking for our team’s vision, engineering and development,” said Chris Wolfe, CEO of I.D. Systems. “This recognition attests that we our achieving our mission to deliver products that help the industry become safer, more efficient and help make a driver’s work-life easier.”

Norman Thomas, GM for I.D. Systems’ Logistics Visibility group, added: “With our recent acquisition of CarrierWeb we will be expanding our logistics visibility capabilities into the cab and onto refrigerated trailer systems – enabling Lucy ® to assist with our customer’s entire operations.”

The Top 20 Product winners will be published in the magazine’s February issue, and awards will be presented during individual ceremonies at the Technology & Maintenance Council annual meeting in Atlanta on March 18-21, 2019.

To learn more about I.D. Systems, visit idsy2019.wpengine.com/. For more information on the company’s Logistics Visibility Solutions, visit www.logistics-visibility.com/.

About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, 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 such as 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, visit idsy2019.wpengine.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, 2017. 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
ned@id-systems.com
201-996-9000

Mike Hardman, Hardman Group
mike@hardmangrp.com
330-285-4141

PDF Version

 

I.D. Systems and Jungheinrich AG Sign Global Technology Agreement

Companies Team On Multi-year, Fleet Management Technology Partnership

I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management and Industrial Internet of Things (IoT) technology, announced today a multi-year fleet management system agreement covering several thousand units with Jungheinrich AG (OTCMKTS: JGHAF), a leading solution provider in intralogistics.

Jungheinrich will leverage I.D. Systems’ Powerfleet technologies to track and manage forklift fleets for their customers. Through this partnership, Jungheinrich will combine its world-class expertise with the industry leading telemetry capabilities of I.D. Systems to offer the best choice of digital products on their Material Handling Equipment. This technology partnership will provide Jungheinrich customers with an enhanced ability to reduce overhead costs, improve safety and compliance, and streamline operations.

“We are thrilled to be partnering with Jungheinrich, one of the world’s most successful intralogistics companies,” said I.D. Systems CEO Chris Wolfe. “This is a long-term partnership and commitment to Jungheinrich and their global customer base to provide current and next generation fleet management technologies matched to their specific equipment and operational requirements.”

“The Powerfleet feature set and technologies from I.D. Systems and their expertise in forklift telematics will enhance our ability to provide a selection of world class digital solutions for our customers when it comes to intralogistics,” said Frank Marschatz, Service Director at Jungheinrich.

By leveraging data streams from vehicles, Jungheinrich will be able to organize it into meaningful visualizations, and powerful analytics for its customers. Jungheinrich customers will be able to quickly and accurately monitor utilization, damage, and safety compliance to accurately identify problem areas. Jungheinrich will use the system to enhance Material Handling Equipment maintenance and service.

“During past projects, we found our companies working very well together in their determination to achieve the best possible solution for customers by employing cutting edge technology, and we are excited to be able to do so now on a much broader perspective,” said Ute Filippone, Business Manager EMEA for I.D. Systems.

To learn more about I.D. Systems, visit idsy2019.wpengine.com/.

About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, 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 such as 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, visit idsy2019.wpengine.com.

About Jungheinrich
Founded in 1953, Jungheinrich ranks among the world’s leading providers of intralogistics solutions. With a comprehensive portfolio of material handling equipment, logistics systems and services, Jungheinrich is able to offer customers customized solutions for the challenges posed by Industry 4.0. The Hamburg-based Group is represented worldwide in 40 countries with its own direct sales companies and around 80 other countries through partner companies. Jungheinrich employs around 18,000 people worldwide and generated Group revenue of €3.4 billion in 2017. The Jungheinrich shares are listed on the SDAX.

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, 2017. 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
ned@id-systems.com
+1-201-996-9000		Ute Filippone, Business Manager EMEA & UK
ufilippone@id-systems.com
+49 211 310 5454 60

I.D. Systems Acquires CarrierWeb, Adds Key Technology, Increases Customer Base, and Enters New Market Segments

Company Positioned as Turnkey Logistics IoT Technology Provider

WOODCLIFF LAKE, N.J., Jan. 31, 2019 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management and Industrial Internet of Things (IoT) technology, has acquired the U.S.-based assets of  telematics provider CarrierWeb, an Atlanta-based provider of real-time in-cab mobile communications technology, electronic logging devices (ELDs), two-way refrigerated command and control, and trailer tracking. CarrierWeb’s U.S.-based assets will be integrated into the I.D. Systems logistics visibility solutions group, called Powerfleet® for Logistics. The acquisition closed on January 30, 2019.Growth and Expansion
With the acquisition, I.D. Systems adds 9,000 net new subscribers to its platform. The acquisition allows I.D. Systems to offer a full complement of highly-integrated logistics technology solutions to its current customers and prospects, and immediately adds more than 70 customers, including the Customized Distribution Division of foodservice industry leader Performance Food Group (PFG).
“The CarrierWeb assets align with our strategy of expanding and strengthening our position in the fleet management value chain,” said Chris Wolfe, CEO of I.D. Systems. “The acquisition is immediately additive because it allows us to sell complete bumper-to-bumper telematics solutions, with higher monthly revenues, covering in-cab, refrigerated trailers, dry van and containers both to I.D. Systems’ existing customers as well as to potential customers whom we have not been able to address previously. Overall, this transaction allows us to address what the market and our customers have been asking for — a complete, fully-integrated offering.”An Unmatched Single Source of Fleet Management Tracking Technology
I.D. Systems and CarrierWeb offer complementary services that together allow for an unparalleled single source of fleet management tracking technology. The CarrierWeb solutions will be integrated into I.D. Systems’ recently launched line of logistics telemetry solutions, which include a suite of interoperable sensors, an interactive voice-user interface, and a first-of-its-kind image-based cargo visibility detector. These robust technological platforms enhanced I.D. Systems tracking, monitoring, and reporting capabilities to provide freight transportation providers, shippers and supply chain stakeholders with powerful insights to make smarter and faster decisions.
CarrierWeb’s patented technology is designed to better manage transportation workflow, streamline data operations and management for mobile communications. CarrierWeb’s key products offer a range of innovative solutions for truck, dry trailer, refrigerated trailer, and driver monitoring and management:

  • ReeferMate® is a standalone cost-effective solution that enables users to monitor and remotely manage refrigerated trailers and cargo;
  • CarrierMate™ is an advanced touch screen electronic on-board recorder / electronic logging device (AOBRD/ELD) that also provides a driver-preferred ELD for regulatory compliance.

I.D. Systems is committed to the integration and future development of the CarrierWeb technology platform. The new Powerfleet® for Logistics division is led by Norm Thomas, who joined I.D. Systems in 2018 from PeopleNet, where he led professional services, software engineering and integration technology. Previously, Thomas served as a senior executive at CarrierWeb, as well spent more than 10 years at U.S. Xpress in a range of senior roles, including Chief Technology Officer.
To learn more about I.D. Systems, visit idsy2019.wpengine.com/. For more information on the company’s Logistics Visibility Solutions, visit www.logistics-visibility.com/.

About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, 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 such as 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, visit idsy2019.wpengine.com.
About CarrierWeb
CarrierWeb provides, real-time in-cab mobile communications, with an easy-to-use fully compliant ELD solution, driver workflow and activity capture for private and for-hire fleets seeking an ELD solution. The U.S. Headquarters that was acquired is based in Atlanta, Georgia. CarrierWeb focuses on providing mobile communications at an inclusive lower fixed cost combined with innovative solutions, flexible custom reports and exceptional customer service that allow its customers to meet the demands of today’s marketplace. CarrierWeb integrates with major TMS solutions and has a proprietary powerful middleware that facilitates a rapid direct integration with in-house ERP systems. For more information, visit www.carrierweb.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, 2017. 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 Contact
Ned Mavrommatis, CFO
ned@id-systems.com
(201) 996-9000
Investor Contact
Liolios for I.D. Systems
Matt Glover
IDSY@liolios.com
(949) 574-3860
Media Contact
Mike Hardman, Hardman Group
mike@hardmangrp.com
330-285-4141

I.D. Systems’ New Industrial Truck Telematics Solution Wins Prestigious Industry Award

Representing the first product launched under the Powerfleet division of I.D. Systems, Powerfleet Essence Wins Material Handling Product News Readers’ Choice Products of the Year Awards

WOODCLIFF LAKE, N.J., Jan. 15, 2019 (GLOBE NEWSWIRE) — I.D. Systems, Inc.(NASDAQ:IDSY), a leading provider of enterprise asset management technology, was chosen as a winner of Material Handling Product News (MHPN) fourth-annual Readers’ Choice Products of the Year Awards for Powerfleet Essence; the company’s new class of industrial truck telematics platforms aimed at small to medium-sized fleets.

The prestigious award honors the achievements of companies for advancements in materials handling systems and equipment within manufacturing, distribution centers and warehouses. Companies were invited to submit their products, and nearly 3,000 MHPN readers decided the winners in 12 categories, and Powerfleet Essence won the Automatic Data Capture category. Powerfleet Essence consists of the OC53 operator console mounted on the industrial truck and the Powerfleet Control Center app downloaded to an iPad or iPhone. The system communicates using a Bluetooth direct connection, so it does not require complicated IT support or Wi-Fi networking. This same platform can also secure and track construction heavy equipment.

“This award is a testament to the quality products we are developing for the industrial truck market segment,” stated Mark Stanton, Vice President and General Manager of I.D. Systems’ Powerfleet division. “We have already seen a surge in early adoption and inquiries, and this new offering increases our target market from 2 million to over 10 million forklifts world-wide.”

Powerfleet Essence is a new class of industrial truck telematics platforms aimed at small to medium-sized fleets used in manufacturing, distribution, logistics and retail centers. The system ensures site managers know that only certified operators are using their equipment, when they have completed required safety inspections, and how their equipment is operated to reap the savings of safer industrial truck operations. The system is particularly suited for installations previously hindered by cost, complexity, IT networking and integration requirements.

Physical installation of the OC53 hardware is simplified. Communication with the Powerfleet Control Center application works out-of-the-box. Data is collected automatically while in range of any app-enabled Bluetooth device and then displayed and managed in an intuitive Control Center app.  Powerfleet Essence can also be configured to support different languages. Initial support includes English, Spanish, French and German.

For more information, visit: https://www.Powerfleetoc53.com.

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Florida, 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 such as 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, please visit idsy2019.wpengine.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 a result of new information, future events, or otherwise.

 

I.D. Systems Contact
Ned Mavrommatis, CFO
ned@id-systems.com
(201) 996-9000

Investor Contact
Liolios for I.D. Systems
Matt Glover
IDSY@liolios.com
(949) 574-3860

Media Contact
Jacobson Strategy for I.D Systems
Molly Jacobson
molly@jacobsonstrategy.com
(850) 980-2793

January 15, 2019 / PDF Version

I.D. Systems creates AI-powered ‘Lucy’ fleet assistant to manage trailers, cargo

This article was originally published at CCJ on October 29, 2018 by Aaron Huff

I.D. Systems was ready for a technology refresh when Chris Wolfe became chief executive 18 months ago.
Since 2010, the company has supported the Veriwise trailer tracking platform it acquired from Asset Intelligence, a former business unit of General Electric.

The LV-710 sensor from I.D. Systems has an integrated Freight Cam that takes pictures of the cargo and measures the percentage a trailer is loaded. The LV-710 sensor from I.D. Systems has an integrated Freight Cam that takes pictures of the cargo and measures the percentage a trailer is loaded.

At this stage in his career, Wolfe wanted new products that did more than track assets. In the early 1990s he developed the first asset tracking system for Roadway Express and Penske Logistics. He later joined Qualcomm’s Wireless Business Solutions group, which he left in 2005 as president.

“If I just came out with new trackers, I would be bored,” he says.

The transportation and logistics market was heavily focused on electronic driver logs and technology to improve the quality of life for drivers. Plenty of companies already served those needs.

“How do we optimize the rest of the supply chain?” he wondered.

Shippers are spending nearly $800 billion per year for the transportation and logistics of goods worth $14 trillion.

The market opportunity for transportation technology, he says, is “in the goods—the cargo.”

Shippers and carriers would both benefit from better information on the status of shipments and conditions of cargo. But he wanted something to make I.D. Systems really stand out.

An idea came while watching a science fiction movie, Lucy. The title character is played by actress Scarlett Johannsen who accidentally ingests a substance that unlocks 100 percent of her brain’s cerebral capacity. She gains superhuman physical and cognitive powers.

Computers and smartphones are very tactile instruments. They use two senses — touch and sight. What if I.D. Systems could get the other senses of transportation workers and managers involved in managing assets, shipments and cargo status?

“The brain can handle a lot more,” he thought.

The LV-300 tracking system integrates with wireless sensors in a trailer. The LV-300 tracking system integrates with wireless sensors in a trailer.

On Oct. 28 at the American Trucking Associations annual Management Conference and Exhibition (MCE) in Austin, Texas, I.D. Systems introduced a new telemetry and analytics product platform that includes an image-based cargo visibility detector and environmental sensors.

Integral to the platform launch is an interactive voice-user interface — an intelligent assistant named Lucy — that gives transportation workers and managers information to make real-time decisions without the need to manually run reports.

Telemetry portfolio

The I.D. Systems telemetry portfolio is called the LV Asset Tracking and Freight Visibility Series (LV Series).

The LV Series uses a common platform for wireless sensor integration and visual image confirmation to track the location and monitor the condition and status of the cargo. The LV Series can also monitor tire pressure, anti-lock braking system lights, and other elements of a trailer.

The three base asset tracking models (LV-100, LV-300 and LV-500) vary according to power management technology such as a long-life primary battery, rechargeable battery, or dual-power source. Each includes I.D. Systems’ drive-segment detection as well as time-based and sensor-event reporting.

The LV-500 device from I.D. Systems is a solar-powered option. The LV-500 device from I.D. Systems is a solar-powered option.

The LV-710 is a vision sensor that detects cargo and measures loaded levels using a wireless high-definition camera and image recognition processor. It also has a door sensor and cargo-area environmental sensor. It integrates with the family of LV asset tracking devices and a new Powerfleet Yard smart phone app.

The LV-710, LV-720 and LV-730 can include on-asset sensors as well as LV-740 pallet-level sensors that measure temperature, humidity and shock.
When utilized with LV-740 pallet sensors, the LV-710 can detect and report if and where pallets are loaded, as well as environmental alerts (e.g. temperature, etc.), to deliver complete cargo visibility.

Lucy, a Voice-User Interface

Lucy is an integrated voice-activated system that provides dynamic interaction with a fleet’s asset and cargo database. The system provides in-transit reporting, real-time status and analytics without manually running reports.

Lucy leverages voice-activation technology with the Bing search engine to provide users with up-to-the-minute traffic, weather and ETA predictions and updates along planned or existing routes.

The dialogue with Lucy mirrors natural language. The user asks questions and can zero in on the type of information they are looking for, explains Dan Romary, vice president of data analytics and business intelligence of I.D. Systems.

The voice-user interface can be customized based on market segment such as intermodal chassis, regional and private fleets. It can be customized by user role and by their shifts as well. If any problems carry over from one shift, those problems—such as a late load or a trailer with required maintenance—will be passed on to the next shift to manage.

The LV-100 tracking device has self-contained batteries and communicates with wireless trailer sensors. The LV-100 tracking device has self-contained batteries and communicates with wireless trailer sensors.

Lucy can be integrated into third-party systems such as transportation and warehouse management or tractor tracking systems.
During an online demo with CCJ, Romary asked Lucy a question:

“How many cargo alerts are there?” After specifying the alerts, Lucy asked, “Would you like me to contact the appropriate shift supervisor?”
Another possible question for Lucy is:

“Lucy, can you send me a picture of trailer 7654?” The system could trigger the LV-710 device in the trailer to take a photo of the cargo and transmit it instantly, he says.

Powerfleet Yard is a new handheld app that will be Lucy enabled. Future integration with third-party systems could put Lucy in the cab with a driver, or on a driver’s smartphone, he says. When a driver pulls up to a yard, Lucy could instruct the driver which trailer to hook up to and its status, Romary says.

I.D. Systems says the new LV Series product platform and Lucy will be available for field testing in the fourth quarter and commercially available in the first quarter of 2019.

View Original Post

I.D. Systems Introduces New Cargo-Tracking Product Line

This was originally published at TransportTopics on October 29, 2018 by Seth Clevenger

The I.D. Systems booth at MCE. (John Sommers II for Transport Topics) The I.D. Systems booth at MCE. (John Sommers II for Transport Topics)

 

AUSTIN, Texas — I.D. Systems has introduced a new line of trailer-tracking and cargo-monitoring products designed to give fleets more insights about their shipments and also demonstrated a voice-activated reporting interface to help them better utilize that data.

The technology vendor showcased this “intelligent logistics” platform for the first time in the exhibit hall at American Trucking Associations’ Management Conference & Exhibition, held here Oct. 27-31.

To reflect its new product lineup, the company said it now will go to market simply as I.D. Systems, dropping its Asset Intelligence and VeriWise brands.

I.D. Systems’ new suite of telematics devices, dubbed the LV Series, for “logistics visibility,” includes three trailer-tracking device models, the LV-100, LV-300 and LV-500, which offer varying approaches to power management. Each unit connects wirelessly with I.D. Systems’ other onboard cargo sensors to provide real-time event reporting.

One of those sensors, the LV-710, incorporates a high-definition camera and an image-recognition processor to capture digital images of the freight inside the trailer. With those images, fleets can determine not only whether the trailer is loaded or unloaded, but also its level of capacity.

The LV-710 includes an integrated accelerometer and GPS tracking, and detects cargo condition through temperature, humidity, pressure and light level sensors.

Beyond that, the device can communicate wirelessly with freight tags placed on the cargo itself. These LV-740 pallet sensors can detect if and when pallets are loaded.

In an interview with Transport Topics, I.D. Systems CEO Chris Wolfe described a “connected freight” philosophy that extends beyond traditional trailer tracking.

“It’s way beyond just tracking your chassis, container or dry van,” Wolfe said. “We’re going to let you literally see your freight, really process those images and let you inbound plan for that freight.”

The additional information about cargo status can help fleets prevent mistakes such as picking up a trailer that still is partially loaded and respond to problems such as a load that has shifted, he said. “What you’re going to do is stop a lot of problems before they start.”

 

An MCE attendee in the I.D. Systems booth. (John Sommers II for Transport Topics) An MCE attendee in the I.D. Systems booth. (John Sommers II for Transport Topics)

 

The imaging capabilities also will bring greater clarity to cargo claims, Wolfe said. The freight camera takes a photo of the freight when the trailer door closes or opens, as well as if there’s a shock in transit.

And understanding the cargo inside can help inbound logistics planners better schedule dock workers, which also can help get drivers back on the road sooner, reducing detention time.

The new LV telematics devices are entering field trials, with a broader launch targeted for the first quarter of next year, Wolfe said.

I.D. Systems also demonstrated Lucy, its interactive voice interface, here at MCE.

Much like Apple’s Siri or Amazon’s Alexa, Lucy responds to verbal commands to access and report key information.

For example, the user can ask the status of a specific shipment, ask how many dormant trailers are sitting at a given site or ask how many loaded dry vans will arrive at a location in the next three hours.

Lucy pulls the information from a fleet’s asset and cargo database and uses the Microsoft Bing search engine for weather and traffic information.

View Original Post

ID Systems’ New Trailer Tracking Telemetrics Offers Inside View

Originally Published on TrackingInfo.com on November 7, 2018 • by Deborah Lockridge

ID Systems' new camera-based LV-710 sensor is mounted right in the trailer or container door to give visibility inside the trailer -- even when the doors are closed and sealed. - Photo by Deborah Lockridge ID Systems’ new camera-based LV-710 sensor is mounted right in the trailer or container door to give visibility inside the trailer — even when the doors are closed and sealed. – Photo by Deborah Lockridge

Ever wish you could look inside a trailer without opening the door? ID Systems’ new camera-based sensor and asset-tracking suite can do just that.

ID Systems has unveiled a new line of sophisticated asset-tracking and telemetry products, featuring new ways to get visibility of the cargo inside the trailer or container. Plus it is offering an interactive voice-user interface for accessing analytics of the data those systems provide.

During the American Trucking Associations’ Management Conference and Exhibition in late October, ID Systems showcased the LV series cargo-tracking suite of products.

The LV Series combines trailer or container tracking telematics units with low-powered sensors, connected via Bluetooth communication. This way they can not only track the trailer or container and provide real-time updates, but also monitor the condition and status of the cargo, including temperature, humidity and shock. They can track not only location, but also loaded levels, tire pressure, antilock braking system lights, door opens, and other elements.

You can choose your telemetrics platform based on your power needs. - Photo by Deborah Lockridge You can choose your telemetrics platform based on your power needs. – Photo by Deborah Lockridge

The three asset tracking models (LV-100, LV-300 and LV-500) offer different power management technology, such as a long-life primary battery, rechargeable battery, or dual-power source. Solar-powered supercapacitors team up with long-lasting batteries, for instance, for the wireless LV-500.

Each offers both time-based and sensor-event reporting. They also incorporate wireless sensing of the LV-710, LV-720 and LV-730 on-asset sensors, as well as LV-740 pallet-level sensors.

The LV-710 is a patent-pending, wireless high-definition camera, image recognition processor, door sensor and cargo-area environmental sensor that integrates with the family of LV tracking devices as well as the new Powerfleet Yard smartphone app.

The LV-710 uses image processing and deep learning to interpret what it’s seeing, explained CEO Chris Wolfe in an interview at the show. It can let fleets know what type of freight is inside the trailer, how full the trailer is, whether there are locking bars, etc., which allows for inbound planning.

When used with LV-740 pallet sensors, the LV-710 can also detect and report if and where pallets are loaded, as well as environmental alerts (e.g. temperature, etc.), to deliver complete cargo visibility.

The pallet sensors even have listening capability, Wolfe said, which could play a part in battling human smuggling efforts.

The visual representation of Lucy's responses to plain-English questions illustrates how ID Systems' voice-response product gives users information without having to manually run reports. - Photo by Deborah Lockridge The visual representation of Lucy’s responses to plain-English questions illustrates how ID Systems’ voice-response product gives users information without having to manually run reports. – Photo by Deborah Lockridge

 

Lucy, an Interactive Voice-User Interface

Lucy is an integrated voice-activated system that allows a user to get information from the fleet’s asset and cargo database without having to manually pull reports, such as detailed in-transit reporting and real-time status and analytics. It also integrates with the Bing search engine to provide up-to-the-minute traffic, weather and other valuable updates along planned or existing routes. Lucy can work on a desktop computer or via an app on your phone.

For instance, ask Lucy for a shift status report, and you can get information on the number of assets at a location and which ones have alerts. Then it can tell you that the alerts are for issues such as temperature, shock, or cargo vibration.

View Original Post

I.D. Systems Expands Relationship with Avis Budget Group with a New 75,000 Unit Order for Wireless Vehicle Technology

 

  • I.D. Systems Receives a New Order for 75,000 Units from Avis Budget Group for Broad Deployment of its Wireless Fleet Management System
  • New Order Will Bring Total Units Deployed with Avis Budget Group to 125,000 Since 2018
  • New Contract Includes Additional Feature and Capability Development that will Enable Avis Budget Group to Extend its Industry-Leading App Functionality to a Larger Portion of its Fleet

WOODCLIFF LAKE, N.J., Dec. 06, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ: IDSY) and Avis Budget Group, Inc.(NASDAQ: CAR) have executed a new purchase agreement to deploy 75,000 additional units of I.D. Systems’ proprietary wireless rental fleet management systems in Avis Budget’s vehicle fleet.

I.D. Systems’ wireless in-vehicle management system permits two-way data communications between a vehicle and various car rental operating systems. Combined with Avis Budget’s other existing technologies, I.D. Systems’ rental fleet management systems enables Avis Budget to rent and check-in vehicles virtually, all on a mobile device. The system provides Avis Budget with unique insights into the mileage, fuel level, and condition of a vehicle the minute it is returned to an Avis location. These capabilities significantly streamline and automate the vehicle data collection and billing process.

The agreement provides Avis Budget a variation of the technology to test in Europe and enables the device to provide full Zipcar functionality. I.D. Systems expects to begin delivering the hardware in the second quarter of 2019.

“We appreciate Avis Budget Group choosing I.D. Systems as a preferred provider for this follow-on order of our unique connected car solution, equipping the highest number of connected vehicles in Avis Budget Group’s fleet,” said Chris Wolfe, Chief Executive Officer of I.D. Systems. “This continues our many years of working hand-in-hand with Avis Budget Group to develop, build and implement innovative technology that enables Avis Budget Group to achieve their connected fleet and business transformational goals.”

Gerard Insall, Chief Information Officer of Avis Budget Group, commented: “The Avis App combined with a totally connected fleet is the future of mobility.  With the success of our initial 50,000-unit deployment, we are pleased to expand our relationship with I.D. Systems to utilize I.D. Systems connected car solution on over one-third of our North American fleet. Our ‘connected cars’ allow us to significantly improve our customer’s rental experience by giving our customers more control and choice of their vehicle using their mobile device. We also improve their vehicle return experience by automating the check-in process. As a mobility services provider, connected car technology not only streamlines the rental experience for our customers but allows us to drive operational efficiencies.”

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, Germany, and the United Kingdom, I.D. Systemsis a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as 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, visit idsy2019.wpengine.com.

About Avis Budget Group

Avis Budget Group, Inc. is a leading global provider of vehicle rental services, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world’s leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world.  Avis Budget Group has approximately 31,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.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. Systemsmay 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, 2017. 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 Reports Third Quarter and Nine Month 2018 Results
Revenue Up 21% for the Quarter and Year-to-Date Revenues Surpass Total Revenue for 2017
WOODCLIFF LAKE, N.J., Nov. 08, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management technology, reported results for the third quarter ended September 30, 2018.
Management Commentary
“The third quarter and first nine months of 2018 marked another period of top-line growth, solid gross margins and cash generation for our company,” said I.D. Systems CEO, Chris Wolfe. “In addition to the 21% year-over-year growth for the quarter, our topline for the first nine months exceeded the total revenue we reported in 2017, putting us on track to realize meaningful double-digit growth in 2018. We also shipped the remaining Avis units from our first order while beginning development efforts on several critical programs that will be covered under our next statement of work with Avis.
“Our improving financial performance is due, in part, to our improving product quality and new product innovation as well as our successful integration of the Keytroller acquisition. We also started field trials of our new Logistics Visibility telemetry platforms, a new sensor family as well as FreightCAM for cargo visibility and our voice-integrated deep learning platform Lucy. These platforms were announced at the American Trucking Association in October and exceeded our expectations in generating prospect and customer excitement.”
Third Quarter 2018 Financial Results
Revenue increased 21% to $13.4 million from $11.1 million in same year-ago period. The increase was primarily due to higher Connected Vehicle Solutions and Industrial Truck Management revenue.
Recurring revenue increased 5% to $5.0 million from $4.7 million in the same period a year ago.

Gross profit increased 21% to $6.8 million (50.8% of total revenue) from $5.6 million (50.8% of total revenue) in the same year-ago period.

Selling, general and administrative expenses were $5.9 million, compared to $5.1 million in the same year-ago period. The increase was primarily due to higher sales and marketing expenses related to the company’s introduction of new Logistics Visibility Solutions products.

Research and development expenses were $1.7 million, compared to $1.1 million in the same year-ago quarter. The increase in research and development expenses was primarily due to reallocation of internal product development resources to cost of services in 2017 for the development program for Avis Budget Group.

Excluding stock-based compensation, depreciation and amortization, foreign currency translation losses, and acquisition-related expenses, non-GAAP net income totaled $165,000 or $0.01 per basic and diluted share (based on 17.3 million weighted average shares outstanding), compared to non-GAAP net income of $287,000 or $0.02 per basic and diluted share (based on 16.2 million weighted average shares outstanding) in the same year-ago quarter.

Net loss totaled $897,000 or $(0.05) per basic and diluted share (based on 17.3 million weighted average shares outstanding), compared to net loss of $586,000 or $(0.04) per basic and diluted share in the same year-ago quarter (based on 16.2 million weighted average shares outstanding).

At quarter-end, the company had $16.3 million in cash, cash equivalents and marketable securities, an improvement from $13.1 million at the end of the prior quarter.
Nine Month 2018 Financial Results
Revenue increased 40% to a record $41.6 million from $29.8 million in same year-ago period. The increase was primarily due to higher Connected Vehicle Solutions and Industrial Truck Management revenue.
Recurring revenue increased 2% to $14.5 million from $14.3 million in the same period a year ago.

Gross profit increased 28% to $19.7 million (47.3% of total revenue) from $15.3 million (51.4% of total revenue) in the same year-ago period. The increase in gross profit was due to higher total revenue in the 2018 period. The decrease in gross margin was primarily due to deliveries of Connected Vehicle Solutions hardware, which have lower upfront margins, but grow over time making for high lifecycle profitability over the contract term.

Selling, general and administrative expenses were $17.6 million, compared to $14.8 million in the same year-ago period. The increase was primarily due to the inclusion of expenses from Keytroller, which were absent in the first half of 2017 and higher sales and marketing expenses related to the company’s introduction of new Logistics Visibility Solutions products.

Research and development expenses were $5.0 million, compared to $3.5 million in the same year-ago period. The increase in research and development expenses was primarily due to reallocation of internal product development resources to cost of services in 2017 for the development program for Avis Budget Group.

Excluding stock-based compensation, depreciation and amortization, foreign currency translation losses, and acquisition-related expenses, non-GAAP net income totaled $354,000 or $0.02 per basic and diluted share (based on 17.1 million weighted average shares outstanding), compared to non-GAAP net loss of $556,000 or $(0.04) per basic and diluted share (based on 14.3 million weighted average shares outstanding) in the same year-ago period.

Net loss totaled $3.0 million or $(0.18) per basic and diluted share (based on 17.1 million weighted average shares outstanding), compared to net loss of $3.0 million or $(0.21) per basic and diluted share in the same year-ago period (based on 14.3 million weighted average shares outstanding).
Investor Conference Call
I.D. Systems management will discuss the results of the company’s operations and business outlook on a conference call today (Thursday, November 8, 2018) at 4:45 p.m. Eastern time (1:45 p.m. Pacific time).
CEO Chris Wolfe and CFO Ned Mavrommatis will host the call, followed by a question and answer session where sell-side analysts and major institutional shareholders can ask questions.
U.S. dial-in: (877) 307-1379

International dial-in: (443) 877-4066

Conference ID: 8284779
The conference call will be broadcast simultaneously and available for replay in the investor section of the company’s website at idsy2019.wpengine.com.

If you have any difficulty connecting with the conference call, please contact I.D. Systems’ investor relations team at (949) 574-3860. 
Non-GAAP Measures
To supplement its financial statements presented in accordance with Generally Accepted Accounting Principles (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. Because I.D. Systems’ method for calculating the non-GAAP measures may differ from other companies’ methods, the non-GAAP measures may not be comparable to similarly titled measures reported by other companies. 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
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, 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 such as 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, please visit idsy2019.wpengine.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, 2017. 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.
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