Last $6.32 USD
Change Today +0.29 / 4.81%
Volume 23.3K
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As of 8:10 PM 11/21/14 All times are local (Market data is delayed by at least 15 minutes).

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10/28/14 - $7.88
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id systems inc (IDSY) Details

I.D. Systems, Inc. develops, markets, and sells wireless solutions for managing and securing industrial vehicles, transportation assets, and rental vehicles. The company offers integrated wireless solutions that utilize radio frequency identification, Wi-Fi, satellite or cellular communications, and sensor technologies to control, track, monitor, and analyze enterprise assets. It provides closed-loop systems for managing campus-based assets; mobile systems for managing remote over-the-road assets; and hardware and software, as well as maintenance, support, and consulting services. The company’s campus-based fleet management products comprise on-asset hardware with mounting and user-interface options that provide an autonomous means of asset control and monitoring; wireless asset managers that link the mobile assets being monitored with the customer’s computer network or to a remotely hosted server; server software, which manages data communications between the system’s database and wireless asset managers or on-asset hardware; and client software that restricts access to and limits corruption of system information, and minimizes network bandwidth usage. Its remote asset management products include on-asset hardware configurations to address remote asset types, such as dry van trailers, refrigerated trailers, domestic containers, and railcars; VeriWise Intelligence Portal, a hosted Website that provides Internet access to client asset information; and a direct data feed through XML or Web services. The company markets and sells its solutions directly, as well as through original equipment manufacturers and industrial equipment dealers to commercial and government sector customers in automotive manufacturing, retail, shipping, freight transportation, heavy industry, wholesale distribution, aerospace and defense, homeland security, and vehicle rental markets. I.D. Systems, Inc. was founded in 1993 and is headquartered in Woodcliff Lake, New Jersey.

104 Employees
Last Reported Date: 03/28/14
Founded in 1993

id systems inc (IDSY) Top Compensated Officers

Co-Founder, Chairman, Chief Executive Officer...
Total Annual Compensation: $267.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $267.0K
Chief Technology Officer
Total Annual Compensation: $267.0K
Compensation as of Fiscal Year 2013.

id systems inc (IDSY) Key Developments

ID Systems Inc. Receives Renewal Contract from Knight Transportation for Trailer Fleet Management Solutions

ID Systems Inc. has executed a contract with Knight Transportation Inc. to extend Knight's deployment of VeriWise(TM) transportation asset management solutions from I.D. Systems' Asset Intelligence subsidiary. The renewal contract, which has a term of one year, is valued at more than $900,000. VeriWise asset tracking systems combine sensor, wireless, and web technologies to provide real-time visibility and control of trailers and their cargo. The systems automatically identify, analyze, and respond to critical transportation issues to improve the efficiency and security of logistics operations. VeriWise Dry Van is an advanced trailer monitoring system with patented full-length cargo detection sensors and solar charging technology. The system reports reliable, uninterrupted trailer location and loaded/unloaded status--even if the trailer is disconnected from tractor power for an extended period--designed for faster trailer turns, increased asset utilization, improved cargo security, and optimal fleet efficiency. VeriWise Intermodal container management system helps increase asset utilization and reduce transit cycle times. The system enables visibility and control of containers from the seaport to the rail yard and ultimately to the final destination, marking loading and unloading events, which helps increase shipments and revenue per container.

I.D. Systems Receives Three-Year Contract Extension with Wal-Mart Stores Inc

I.D. Systems Inc. has executed a three-year extension of its contract with Walmart Stores Inc. to provide VeriWise trailer tracking and management services for Walmart's fleet of cargo trailers. The contract extension, which runs through October, 2017, has a maximum aggregate value of approximately $14 million.

ID Systems Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

ID Systems Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenues of USD 11,739,000 against USD 11,205,000 a year ago. Loss from operations was USD 2,588,000 against USD 246,000 a year ago. Net loss was USD 2,444,000 against USD 76,000 a year ago. Basic and diluted loss per share were USD 0.20 against USD 0.01 a year ago. Non-GAAP net loss was USD 1,561,000 against non-GAAP net income of USD 692,000 a year ago. Basic and diluted non-GAAP net loss per share was USD 0.13 against basic and diluted non-GAAP net income per share of USD 0.06 a year ago. The increase in revenue was due primarily to increased sales of industrial vehicle management systems (VMS), which grew 11% year over year, driven by strong contributions from channel partners and international markets. For the nine months, the company reported revenues of USD 32,888,000 against USD 28,589,000 a year ago. Loss from operations was USD 7,444,000 against USD 4,934,000 a year ago. Net loss was USD 6,980,000 against USD 4,405,000 a year ago. Basic and diluted loss per share were USD 0.58 against USD 0.37 a year ago. Non-GAAP net loss was USD 3,628,000 against USD 1,989,000 a year ago. Basic and diluted non-GAAP net loss per share was USD 0.30 against USD 0.17 a year ago. Net cash used in operating activities was USD 1,878,000 against USD 1,873,000 a year ago. Expenditures for fixed assets including website development were USD 323,000 against USD 303,000 a year ago. The decrease in revenue was due primarily to increased revenue from VMS channel partner sales, which have a lower margin than direct sales to end users.


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