WOODCLIFF LAKE, N.J., July 1, 2013 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for tracking, securing and managing high-value enterprise assets, has received a purchase order from The Raymond Corporation, a leading global provider of material handling solutions, to deploy I.D. Systems' PowerFleet® wireless vehicle management system on a fleet of lift trucks at a distribution center of a North American Fortune 100 corporation.
Raymond, through a marketing agreement with I.D. Systems, offers PowerFleet as part of its iWAREHOUSE® Enterprise solution—one of a set of solutions that is part of Raymond's iWAREHOUSE fleet optimization system—which turns collected information into data to help identify opportunities for fleet and warehouse improvement.
"This purchase order signals an expansion of this Fortune 100 end-user's investment in the PowerFleet and iWAREHOUSE systems," said Kenneth Ehrman, president of I.D. Systems. "The end-user previously tested our best-practice wireless vehicle management system in a successful pilot program, which demonstrated the operational and economic value of our technology. Raymond continues to be a valuable channel collaborator and we look forward to continue growing our business with Raymond, as well as this end-user."
About Wireless Vehicle Management Systems
A wireless vehicle management system (VMS) helps improve material handling productivity by establishing accountability for the use of equipment, ensuring equipment is in the proper place at the right time, and providing unique fleet utilization metrics. A wireless VMS also helps reduce industrial fleet maintenance costs by automatically uploading vehicle data, reporting vehicle problems electronically, scheduling maintenance according to actual vehicle usage rather than by calendar or manual data entry, and helping determine the optimal economic time to replace equipment. In addition, a wireless VMS helps improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and managing vehicle impacts.
About I.D. Systems
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 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 www.id-systems.com.
About The Raymond Corporation
The Raymond Corporation is a global provider of unmatched material handling technology, expertise and support to increase productivity and cost-efficiency. Designed with ecological and economical benefits in mind, Raymond® lift trucks are engineered to achieve higher performance and increase efficiency. Raymond offers a full line of manual and electric lift trucks — including pallet trucks, walkie stackers, counterbalanced trucks, reach trucks, orderpickers and turret trucks — and iWAREHOUSE®, complete with iWAREHOUSE Essential™ and iWAREHOUSE Enterprise™, to manage lift truck fleets, labor efficiencies and warehouses. Additionally, flexible automation solutions and industry-leading consultation from Raymond further enhance warehouse processes and streamline material handling practices. Learn more at www.raymondcorp.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to I.D. Systems' beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems' control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include: statements regarding prospects for additional customers; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; and plans, strategies and objectives of management for future operations, including integration plans in connection with acquisitions. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems' products to continue to develop, the possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, the inability to protect I.D. Systems' intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems' filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2012. These risks could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, I.D. Systems. I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.
CONTACT: I.D. Systems: Trade Media Greg Smith Vice President email@example.com (201) 996-9000 Investor Relations Matt Glover/Michael Koehler Liolios Group, Inc. firstname.lastname@example.org (949) 574-3860 Raymond: Elizabeth Buza Marketing Communications Raymond Corporation email@example.com (607) 656-2734
Source:I.D. Systems, Inc.