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.
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 www.powerfleet.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
Mike Hardman, Hardman Group