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.

New I.D. Systems Product Line Transforms Logistics Visibility

Introducing “Intelligent Logistics,” an Advanced Visibility Solution

WOODCLIFF LAKE, N.J., Oct. 29, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management and Internet of Things technology, today announced the release of a new line of asset telemetry solutions, a suite of interoperable sensors, as well as an interactive voice-user interface for accessing the power of I.D. Systems’ analytics platform without the need to manually run reports. This launch includes a first-of-its-kind image-based cargo visibility detector. These robust technological platforms enhance I.D. Systems tracking, monitoring and reporting capabilities to provide freight transportation providers, shippers and supply chain stakeholders with powerful insights to make smarter, faster decisions for higher overall performance.

LV-Series, a Cargo-Tracking Solution Suite

LV-100 / LV-300 / LV-500 / LV-710 / LV-740

The I.D. Systems LV Asset Tracking and Freight Visibility Series address a critical gap in the supply chain by giving users real-time updates into their freight through imagery and environmental sensors. Driven by wireless sensor integration and visual image confirmation, the LV Series monitors the condition and status of the cargo including temperature, humidity and shock, and tracks the asset’s location, loaded levels, tire pressure, anti-lock braking system lights, and other elements.

The three 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’ field proven drive-segment detection and well as time-based and sensor-event reporting. They also incorporate wireless sensing of both 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 primary asset tracking devices, and our new Powerfleet Yard smart phone app. When utilized 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.

Lucy, an Interactive Voice-User Interface

Lucy is an integrated voice-activated system that provides dynamic interaction with a fleet’s asset and cargo database. From providing detailed in-transit reporting to real-time status and analytics, Lucy quickly and easily unlocks actionable insights and opportunities without the time and hassle of manually running reports. In addition, Lucy leverages its voice-activation technology with the Bing search engine to provide users with up-to-the-minute traffic, weather and other valuable updates along planned or existing routes.

For more information on this new line of sight for assets and freight from I.D. Systems, please visit idsy2019.wpengine.com.

About I.D. System

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 and IoT 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.

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 Introduces Powerfleet Essence, a New Industrial Truck Telematics Solution Aimed at Small and Medium Sized Manufacturing, Distribution and Retail Installations

Representing the first product launched under the Powerfleet division of I.D. Systems, Powerfleet Essence offers the perfect balance of features and cost to address forklift fleet access control, safety and electronic record keeping in even the smallest fleets

WOODCLIFF LAKE, N.J., Oct. 18, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology, has announced the launch of Powerfleet Essence, a new class of industrial truck telematics platforms aimed at small to medium sized fleets used in manufacturing, distribution, logistics and retail centers. Powerfleet Essence is being introduced at the National Safety Council Congress and Expo in Houston, Texas on October 22-24 and will be commercially available, in volume, in early November.

Powerfleet Essence offers an ideal blend of size, ease of installation, ease of use, management and value. Powerfleet Essence is particularly suited for installations previously hindered by cost, complexity, IT networking and integration requirements. The 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.

Physical installation of the OC53 hardware is simplified. Communication with the Powerfleet Control Center application works out-of-the-box, and industrial truck data is collected automatically while in range of any app-enabled Bluetooth device, then displayed and managed in the intuitive, “self-service” Powerfleet Control Center app. As an added bonus, Powerfleet Essence can be configured to support different languages to simplify operator comprehension, adoption and action. Initial support includes English, Spanish, French and German.

Powerfleet Essence ensures site managers in warehouse, manufacturing, distribution and retail environments at any scale can 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. Peace of mind at an affordable price – that’s Powerfleet Essence.

“Powerfleet Essence marks a true leap forward to making telematics available for every fleet, regardless of size, budget or technical sophistication,” stated Mark Stanton, Vice President and General Manager of I.D. Systems’ Powerfleet division. “There are more than 10 million industrial trucks globally, and the vast majority are in mid-to-small fleets. As a solution designed for this underserved market, Powerfleet Essence hits the opportunity head on.”

“With Powerfleet Essence, we are excited to be launching the first of many leading telematics innovations under the new Powerfleet banner,” added Stanton. “With the addition of Powerfleet Essence to I.D. Systems’ offerings, we have the right price/performance telematics solutions for customers of any size and budget.”
For more information, visit: 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 Integrates Keytroller and Forms Powerfleet® Division Focused on Industrial Truck Management Systems

WOODCLIFF LAKE, N.J., Sept. 06, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc.(NASDAQ:IDSY), a leading provider of enterprise asset management technology, has announced today that it will combine the operations of its existing Vehicle Management Systems (VMS) division with the recent successful acquisition of Keytroller, LLC. This new business unit will operate as I.D. Systems’ Powerfleet® division that focuses on the delivery of world-class Industrial Truck Management Systems (ITMS). Building on the DNA of success created by Terry Wickman, founder of Keytroller, this new division will combine the strategic account prowess from the VMS division to create a holistic offering for the market.

Chris Wolfe, I.D. Systems CEO explained: “The acquisition of Keytroller in 2017 provided I.D. Systems with a broader portfolio of products that allows us to service every customer, large and small. To ensure continued success and growth, it was logical to bring our VMS and Keytroller® teams together. This allows I.D. Systems to create a seamless sales, marketing, engineering and support group to better serve our customers, partners and employees.”

The new business unit will be led by Mark Stanton, who was promoted to VP & GM of the Powerfleet® division. Stanton has led the VMS business unit for the past four years and was an integral part of the Keytroller® acquisition and transition into I.D. Systems.

“I am very excited at the potential for these two organizations to merge together into one unified operation,” said Stanton. “It is a great opportunity for the team to continue with the strong market momentum we have created, and it will also enable us to optimally support our customers and partners as they grow their businesses together with our Powerfleet® solutions.”

The Powerfleet® division will be relocating to new facilities in the Tampa area at the end of 2018. A Center of Excellence will be created at this location to drive innovation within product engineering, development, testing, and customer support. This new center will become the engine for new, innovative, world-class products for the industrial truck market.

“Mark is the ideal candidate to lead our new Powerfleet® division. I.D. Systems is poised to deliver exciting products and services that will transform the industrial truck telematics market while creating significant value for our Customers and Partners,” stated Wolfe.
Wickman will remain actively involved with the transition within the role of International Business Development.

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.

I.D. Systems Ships Over 10,000 Connected Car Devices to Avis Budget Group

WOODCLIFF LAKE, N.J., April 03, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology, has shipped more than 10,000 units of its Unified Telematics Platform (UTP) to Avis Budget Group for installation on its rental fleet vehicles in the U.S. Avis has certified the UTP in 18 make/model combinations, and is already using the devices in over 50 locations across the country.

“We are very pleased that Avis has now certified the use of our UTP system on numerous auto make/model combinations in their fleet,” said Lisa Hardin, vice president of Connected Vehicle Solutions for I.D. Systems.  “Each combination requires mapping of unique vehicle signals, performing detailed fuel tank characterizations and then end-to-end platform testing and security validation with the total Avis solution.”

“Shipping our first 10,000 units is a significant milestone for I.D. Systems, as it proves our ability to rapidly certify new vehicles and scale production.” said Chris Wolfe, chief executive officer, I.D. Systems.  “We expect to ship the remaining 40,000 units ordered predominately in second quarter with the balance in the third, depending upon Avis make/model certification requests and vehicle delivery schedules.”

Avis Budget Group has transformed the car rental experience with the Avis Car Rental mobile app that interacts with connected cars. The app allows renters to manage their entire rental experience from a smartphone. Drivers can choose the exact car they want, change or upgrade a vehicle while at or near the lot with a simple swipe, view their rental agreement, lock and unlock the car and more.

For more information 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, 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.

Avis Budget Group Drives Forward Connected Car Innovation with I.D. Systems Technology

WOODCLIFF LAKE, N.J., Feb. 12, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology, announced today that Avis Budget Group has begun installing its Unified Telematics Platform (UTP) on vehicles in the Avis Car Rental fleet in the United States. Avis Budget Group will install a total of 50,000 UTP units, which effectively convert these vehicles into connected cars.

The UTP device from I.D. Systems can be easily and rapidly installed in the Avis fleet by simply plugging it into the On-Board Diagnostics (OBD) port standard in all modern vehicles. I.D. Systems detects the electronic signature of the vehicle, configures the device to properly monitor and interact with the vehicle, and then provides operational data and pass-through controls back to enable the Avis mobile app.

“The integration of I.D. Systems’ UTP will accelerate our ability to meet our goal of a fully connected fleet by 2020,” said Arthur Orduña, executive vice president and chief innovation officer, Avis Budget Group. “Connected cars offer us unparalleled potential to dramatically improve the customer experience while also streamlining operations and reducing costs, which is why we’re taking aggressive steps to fully connect our fleet as quickly as possible.”

“I.D. Systems has been working with Avis Budget Group to provide new, innovative solutions to meet their needs both today and into the future,” said Chris Wolfe, CEO of I.D. Systems. “We are pleased to deploy all 50,000 UTP devices under this multi-year agreement.”

Avis Budget Group has transformed the car rental experience with the Avis Car Rental mobile app that interacts with connected cars. The app allows renters to manage their entire rental experience from their smartphone. They can choose the exact car they want, change or upgrade their vehicle while at or near the lot with a simple swipe, view their rental agreement, lock and unlock the car and more.

For an overview of the Avis Mobile App click: https://youtu.be/0BsPKTXHQsg.

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets 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 Receives Order from a Top-3 Automotive Manufacturer to Maximize Safety and Efficiency in Their Operations

New 2018 orders for I.D. Systems’ Powerfleet® industrial vehicle management solution to control, track, and maintain forklifts in multiple manufacturing operations in U.S.

I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management technology announced today that it has reached an agreement with several divisions of one of the world’s largest automotive manufacturers to purchase I.D. Systems’ Powerfleet® industrial vehicle management solution. These new orders include products and services totaling $2.8 million and will be deployed in four U.S. sites in 2018.

I.D. Systems’ patented Powerfleet® Vehicle Management Systems (VMS) helps improve supply chain safety and productivity by restricting vehicle access to only trained and authorized operators, providing electronic vehicle inspection checklists, and sensing and reporting vehicle impacts. In addition, Powerfleet® reduces fleet maintenance costs by automatically uploading vehicle operational data, reporting equipment problems, 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.

We are proud that several of the largest automotive manufacturers are I.D. Systems customers and are consistently choosing Powerfleet to help ensure safe and efficient operations in their manufacturing and warehousing operations,” said Chris Wolfe, CEO of I.D. Systems. “We’ve been supporting the automotive industry for many years now, and we continue to deliver innovative and reliable solutions for top manufacturing operations so they can remain safe and drive productivity improvements.”

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 Selected by Toyota Service Parts and Accessories Operations for Industrial Vehicle Management for 11 Parts Distribution Centers in U.S.

I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology, announced today that Toyota Motor North America Service Parts and Accessories Operations (Toyota) group has agreed to purchase its Powerfleet® industrial vehicle management solution for 11 parts distribution centers throughout the U.S. Initial DC deployment plans have been finalized with remaining DC’s to roll out in 2018. The agreement continues the established relationship between Toyota and I.D Systems, building on prior generation solutions used to manage and control forklifts in Toyota’s manufacturing operations.

I.D. Systems’ patented Powerfleet® Vehicle Management Systems (VMS) helps improve supply chain safety and productivity by restricting vehicle access to only trained and authorized operators, providing electronic vehicle inspection checklists, and sensing and reporting vehicle impacts. In addition, Powerfleet® reduces fleet maintenance costs by automatically uploading vehicle operational data, reporting equipment problems, scheduling maintenance based on actual vehicle usage rather than by calendar or manual data entry, and helping determine the optimal economic time to replace equipment.

“I.D. Systems is proud that Toyota’s Service Parts and Accessories Operations group has chosen Powerfleet once again to help ensure safe and efficient operations in their warehousing operations,” said Chris Wolfe, CEO of I.D. Systems. “We’ve been supporting Toyota for many years now, and we continue to deliver innovative and reliable solutions for other similar top manufacturing operations so they can remain safe, deliver operational excellence and drive productivity improvements.”

Michael Mark, Manager of Environmental, Health, & Safety at Toyota added, “After reviewing industrial vehicle management solutions based on our selection criteria, we selected I.D. Systems’ Powerfleet as we found it to be a robust, comprehensive product that fit our business unit and specific needs.”

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo.  The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information, please visit idsy2019.wpengine.com.

About Toyota

Toyota (NYSE:TM), creator of the Prius hybrid and the Mirai fuel cell vehicle, is committed to building vehicles for the way people live through our Toyota and Lexus brands. Over the past 60 years, we’ve built more than 30 million cars and trucks in North America, where we operate 14 manufacturing plants (10 in the U.S.) and directly employ more than 44,000 people (more than 34,000 in the U.S.).  Our 1,800 North American dealerships (nearly 1,500 in the U.S.) sold nearly 2.6 million cars and trucks (2.45 million in the U.S.) in 2016 – and about 85 percent of all Toyota vehicles sold over the past 15 years are still on the road today.

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.

Modern Materials Handling Article on Forklift Data Features I.D. Systems and Keytroller

Terry Wickman, the leader of I.D. Systems’ Keytroller division, and Dan Romary, I.D. Systems’ Vice President of Analytics and Software, are both quoted extensively in Modern Materials Handling this month, in an article on forklift data titled “Leveraging Your Lift Truck Data.”

I.D. Systems Receives Purchase Order from a Leading Global Online Retailer

WOODCLIFF LAKE, N.J., Aug. 10, 2017  — I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, has received an initial purchase order valued at $650,000  for one of the world’s largest online retailers for its Powerfleet® Vehicle Management System.

I.D. Systems’ technology will be installed at three of the retailer’s European distribution centers in Germany, Italy and France. The customer selected Powerfleet based on its superior system performance, reporting and analytics capabilities, as well as its advanced workplace safety functions.

“We are thrilled that our Powerfleet system was selected by this major online retailer,” said Ute Filippone, ID Systems Business Manager EMEA & UK. “What makes this win even more gratifying is that it came after a tough competitive assessment, where we were able to exceed the customer’s stringent operational requirements. We will be deploying our solutions during the third quarter, and look forward to expanding our relationship in the future.”

About Powerfleet® Industrial Vehicle Management Systems (VMS)
I.D. Systems patented Powerfleet® Vehicle Management Systems (VMS) helps improve supply chain safety and productivity by establishing accountability for the use of forklifts and other industrial trucks, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on vehicle utilization. The Powerfleet® VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting equipment problems electronically, scheduling maintenance according to actual vehicle usage rather than by calendar or manual data entry, and helping determine the optimal economic time to replace equipment. In addition, Powerfleet® helps improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and sensing vehicle impacts.

About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo.  The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information, please visit 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 as a result of new information, future events or otherwise.

I.D. Systems Contacts
Ned Mavrommatis, CFO
ned@id-systems.com
201-996-9000                           
Liolios Group, Inc.
Matt Glover
IDSY@liolios.com
949-574-3860

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