U.S. Postal Service Expands Implementation of Wireless Industrial
Vehicle Management Solutions from I.D. Systems, Inc.
HACKENSACK, N.J., Oct. 24, 2007 (PRIME NEWSWIRE) -- I.D. Systems,
Inc. (Nasdaq:IDSY) today announced that it has received follow-on
purchase orders from the United States Postal Service (USPS) to
deploy I.D. Systems' Wireless Asset Net(r) industrial vehicle
management system at five additional mail distribution facilities.
The orders are cumulatively valued at approximately $1.4 million.
Fulfillment of these orders will increase the number of USPS
facilities deploying the Wireless Asset Net system to 77.
"As anticipated, we are continuing to expand business with the USPS,
one of our core customers," said Peter Fausel, I.D. Systems'
executive vice president of sales, marketing and customer support.
"The continued deployment of our wireless technology across the
postal distribution network reflects the USPS's focus on utilizing
our products and services to generate economic benefits through
improved management of powered industrial vehicle operations. We look
forward to continue working closely with the USPS toward achieving
their industrial fleet management goals."
The Wireless Asset Net consists of intelligent wireless devices
(Vehicle Asset Communicators(r)) installed on powered industrial
vehicles (such as forklifts and pallet movers), a patented
communication infrastructure, and client-server software for access
control, utilization analysis, real-time location tracking, and many
other functions. The system is designed to improve industrial
workplace safety and security by restricting vehicle access to
trained, authorized operators and by providing electronic safety
inspection checklists. The system is designed to reduce maintenance
expenses by automatically uploading vehicle data, reporting vehicle
problems in real time, giving management the option of scheduling
maintenance according to actual vehicle usage rather than on a
calendar basis, and helping plant management determine the optimal
economic time to replace equipment. The system is also designed to
help improve productivity by ensuring equipment is in the proper
place at the right time and by providing management with unique
reports on vehicle utilization.
Based in Hackensack, NJ, I.D. Systems, Inc. is a leading provider of
wireless solutions for managing and securing high-value enterprise
assets. These assets include industrial vehicles, such as forklifts
and airport ground support equipment, and rental vehicles. The
Company's patented Wireless Asset Net system, which utilizes radio
frequency identification, or RFID, technology, addresses the needs of
organizations to control, track, monitor and analyze their assets.
For more information, visit www.id-systems.com.
"Safe Harbor" Statement Under the Private Securities Litigation
Reform Act of 1995: This press release contains forward looking
statements that are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and that are
subject to risk and uncertainties, including, but not limited to,
future economic and business conditions, the loss of any of the
Company's key customers or reduction in the purchase of its products
by any such customers, the failure of the market for the Company's
products to continue to develop, the inability to protect the
Company's intellectual property, the inability to manage the
Company's growth, the effects of competition from a wide variety of
local, regional, national and other providers of wireless solutions
and other risks detailed from time to time in the Company's filings
with the Securities and Exchange Commission, including the Company's
annual report on Form 10-K for the year ended December 31, 2005.
These risks could cause actual results to differ materially from
those expressed in any forward looking statements made by, or on
behalf of, the Company. The Company assumes no obligation to update
the information contained in this press release.
CONTACT: I.D. Systems, Inc.
Ned Mavrommatis, Chief Financial Officer
Greg Smith, Vice President Marketing
--- End of Message ---
I.D. Systems, Inc.
One University Plaza, 6th Floor Hackensack
WKN: 924127; ISIN: US4494891033;