This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

U.S. Postal Service Awards I.D. Systems Contract Valued At Up To $4 Million To Initiate Upgrade & Expansion Of Wireless Vehicle Management Systems

WOODCLIFF LAKE, N.J., March 19, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions, has received a contract from the U.S. Postal Service (USPS) to begin to upgrade and expand the company's wireless Vehicle Management Systems (VMS) across the USPS mail distribution network. Since awarding I.D. Systems a national contract in 2005, the USPS has deployed the company's VMS technology on more than 5,000 industrial vehicles in over 100 facilities. The new contract has an initial period of performance to September 30, 2014, with a potential value of up to $4 million.

This is an "indefinite delivery/indefinite quantity" (IDIQ) contract, in which exact quantities, times and places of product deliveries are not known at the time of contract award. It is also a fixed price contract, with agreed upon pricing in effect for the full contract term.

"We are gratified and proud that, after almost a decade as our customer, the USPS continues to do business with I.D. Systems," said Kenneth Ehrman, president and interim CEO of I.D. Systems. "We think the Postal Service's commitment to begin refreshing and expanding its enterprise-wide deployment of our wireless industrial vehicle management technology is a testament to our longstanding leadership in the VMS business, and a reflection of the significant value of our industry-leading solutions for material handling operations."

About Vehicle Management Systems

Vehicle Management Systems (VMS) help improve workplace safety and security by restricting vehicle access to trained, authorized operators and by providing electronic vehicle inspection checklists. A wireless VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting vehicle problems electronically, giving management the option of scheduling maintenance according to actual usage rather than on a calendar basis, and helping management determine the optimal economic time to replace equipment. In addition, a wireless VMS helps improve supply chain productivity by ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing management with unique reports on vehicle utilization. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs