Micron Stock Surges on Strong AI Demand, Record Revenue, and Bullish Q4 Forecast 
FedEx Stock Drops After Weak 2026 Earnings Forecast Despite Strong Q4 Results 
Alphabet Replaces Verizon in Dow Jones Industrial Average 
WiseTech Global Denies Knowledge of Investigation Into Founder Richard White 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
Kioxia Targets U.S. Listing as AI Chip Boom Accelerates 
Trip.com Shares Tumble After Q1 Profit Drops and Weak Revenue Growth Outlook 
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
Tesla and NatPower Partner on $5 Billion Battery Storage Expansion in Europe 
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign 
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence 
Baseten Secures $1.5 Billion Funding at $13 Billion Valuation Amid AI Infrastructure Boom 
Nike CFO Shake-Up Fuels Concerns Over Turnaround Strategy 
SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom 
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock 
Samsung Electronics Stock Surges on Report of Massive $59 Billion Share Buyback Plan 
Fortescue Faces Class Action Over Sexual Harassment Claims at Australian Mining Sites 
WOODCLIFF LAKE, N.J, Feb. 26, 2016 -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, has received additional orders from one of North America’s largest truckload carriers for the VeriWise® Intermodal Container tracking system. The carrier purchased 500 new units, adding to a previous large-scale purchase in 2014, and extended the service contracts from previous purchases by 3 years. Together, the new purchases and service extension contracts are valued at $1.2 million.
The VeriWise® Intermodal Container tracking solution helps carriers maximize container fleet utilization and minimize idle time by providing visibility of loading/unloading events. Using ultrasonic cargo sensing and patented light sensing technologies, the system generates real-time data on load status throughout the shipment cycle, and is the only integrated solution that provides load and door status without the need for wired sensors. The system can reduce shipment cycle times by an average of 72 hours per container per month, and increase shipment volume and revenue by 10%, without increasing fleet size.
I.D. Systems Chairman and CEO Kenneth Ehrman stated: “We are delighted that our VeriWise® Intermodal Container solution is delivering the value we expected to see for this customer. With the real time visibility provided by VeriWise®, intermodal carriers can improve container shipping by enabling quicker asset turns, minimizing idle time, and reducing chassis rentals. These benefits have a clear and direct impact on increasing revenue per container and boosting bottom line results.”
About I.D. Systems, Inc.
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 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.id-systems.com.
CONTACTS: I.D. Systems Ned Mavrommatis Chief Financial Officer Phone: 201-996-9000 [email protected] Investor Relations Liolios Group Matt Glover or Michael Koehler Phone: 949-574-3860 [email protected]
