For the third quarter ended September 30th, 2010, I.D. Systems revenues increased sequentially to $6.5 million. We saw renewed growth trend in sales of our core wireless vehicle management system during the quarter, a positive indication that the market for industrial fleet management is rebounding from last year's global economic downturn. We also saw continued solid performance from our Asset Intelligence subsidiary with a steady stream of recurring revenue from service contracts for tracking and managing fleets of cargo containers and trailers.Another cause for optimism is that we were able to surpass our expected expense reduction goals for the quarter. After acquiring the Asset Intelligence unit from GE in January of 2010, our aggregate overhead expenses were over $31 million. Our goal was to that by $8 million annually through staff consolidations and other cutting measures.
I.D. Systems CEO Discusses Q3 2010 Results - Earnings Call Transcript
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