I.D. Systems, Inc (IDSY)
I.D. Systems agreement with Avis Budget Group Call
August 23, 2011 10:30 am ET
Jeff Jagid - Chairman, CEO and Director
Ned Mavrommatis - CFO & Treasurer
Matthew Hoffman - Cowen & Co.
Walter Schenker - MAZ Partners
Good day, ladies and gentlemen, and thank you for standing by. Welcome to the conference call on the I.D. Systems agreement with Avis Budget Group. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder,this conference maybe recorded. I’d like to introduce your host for today Mr. Jeff Jagid, Chief Executive Officer. Sir, please go ahead.
Thank you and thank you to everyone for taking the time to dial in today and welcome to our conference all on I.D. Systems agreement with Avis Budget Group as announced in our press release yesterday afternoon. I am Jeff Jagid, the Chairman and CEO of I.D. Systems. With me is Ned Mavrommatis I.D. Systems’ CFO.
We are very pleased and excited to talk to you today about this transaction with Avis Budget which we believe is another significant transformational milestone for I.D. Systems as a company. I have some opening remarks and Ned will detail the financial aspects of the agreement. Then we will then open the call for your questions.
Before we continue, let me reiterate the customary Safe Harbor statement. The following discussion contains forward-looking statement that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products, product demand and market acceptance risks, fluctuations in operating results and other risks detailed from time to time in I.D. Systems’ filings with the Securities & Exchange Commission. These risks could cause the company’s actual results for the current fiscal year and beyond to differ materially from those expressed in any forward-looking statements made by or on behalf of the company.