WOODCLIFF LAKE, N.J., Feb. 15, 2011 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset management solutions, today announced that the United States Postal Service (USPS) has awarded I.D. Systems a national contract extension for industrial vehicle management technology. The USPS has deployed I.D. Systems' solutions at more than 100 postal distribution facilities over the past five years. The contract extension, which runs through December 31, 2011, is a fixed-price, indefinite-quantity instrument, which does not define exact quantities, times, or places of product deliveries, but which streamlines USPS' ordering process with I.D. Systems.
In conjunction with the contract extension, the USPS placed purchase orders with I.D. Systems to implement its wireless industrial vehicle management system at two mail distribution facilities in Virginia.
"We are very pleased to continue providing our best-practice wireless vehicle management solutions to the USPS, which has been one of our best customers over the past five years," said Jeffrey Jagid, I.D. Systems' chairman and chief executive officer. "We look forward to helping the Postal Service continue achieving greater material handling efficiency, lower operating costs, and a safer distribution environment."About Wireless Vehicle Management Systems I.D. Systems' wireless vehicle management system (VMS) consists of intelligent wireless devices (Vehicle Asset Communicators®) installed on powered industrial vehicles (such as forklifts and pallet movers), a patented RF communication system, and software for access control, utilization analysis, real-time location tracking, and many other functions. The VMS helps improve industrial workplace safety and security by restricting vehicle access to trained, authorized operators and by providing electronic safety inspection checklists. The VMS helps reduce maintenance expenses by automatically uploading vehicle data, reporting vehicle problems in real time, giving management the option of scheduling maintenance according to actual vehicle usage rather than on a calendar basis, and helping plant management determine the optimal economic time to replace equipment. The VMS also helps improve productivity by ensuring equipment is in the proper place at the right time and by providing management with unique reports on vehicle utilization.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV