Hackensack, NJ, April 7, 2009—I.D. Systems, Inc. (Nasdaq: IDSY), a leading provider of wireless Vehicle Management Systems (VMS), today announced that it has received a blanket purchase order from Audi AG to provide its PowerFleet™ VMS to manage the industrial trucks Audi uses in its manufacturing operations. The order covers a wide range of I.D. Systems’ products and services and has an open-ended duration with volume incentives. The order specifically references two Audi sites for near-term system deployment, including a plant in Ingolstadt, Germany, the location of Audi world headquarters.
The Audi Group, which also includes the Lamborghini brand, is one of the world’s leading manufacturers of premium cars. Audi AG sold more than 1,003,000 cars in 2008—its 13th record year in a row. The company achieved revenues of €34.2 billion and pre-tax earnings reached a new high of €3.2 billion in 2008. Audi is a unit of Volkswagen AG, which recorded revenues of €113.8 billion and pre-tax earnings of €6.6 billion in 2008. The blanket purchase order also enables Volkswagen facilities to implement I.D. Systems’' PowerFleet™ VMS.
Wireless Vehicle Management Systems help improve supply chain productivity by establishing accountability for the use of industrial trucks, such as forklifts—ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on vehicle utilization. A wireless 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, a wireless VMS helps improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and sensing vehicle impacts.
“We are pleased to welcome Audi to our family of world-class customers,” said Peter Fausel, I.D. Systems’ executive vice president of sales, marketing and customer service. “Audi’s order for our PowerFleet wireless Vehicle Management System reflects our continuing efforts to expand our customer base in Europe and build on our success in the vertical market of automotive manufacturing. We look forward to helping Audi utilize our PowerFleet VMS to streamline its material handling operations.”
About I.D. Systems:
Based in Hackensack, New Jersey, with a European business office in Düsseldorf, Germany, I.D. Systems is a leading provider of wireless solutions for managing and securing high-value enterprise assets, including industrial vehicles, such as forklifts and airport ground support equipment, and rental vehicles. The company’s patented technology, 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:
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, such as the Company’s outlook for 2008 financial results and prospects for additional customers and revenues. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our 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. These forward-looking statements 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, 2008. 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.
Audi to Implement Wireless Industrial Vehicle Management Technology from I.D. Systems, Inc.