I.D. Systems rings NASDAQ opening bell

Company celebrates 15th year on the NASDAQ since IPO in 1999.
By Modern Materials Handling Staff
August 15, 2014 - MMH Editorial

I.D. Systems, a leading provider of wireless M2M asset management solutions, rang the NASDAQ Stock Market Opening Bell today, Friday, August 15, 2014.

“The ringing of the opening bell celebrates our 15th year on the NASDAQ since our IPO in 1999,” said Kenneth Ehrman, I.D. Systems’ chairman and CEO. “It also highlights the progress we’ve made with our new ‘I.D. Systems 2.0’ strategy, designed to produce more sustainable, predictable growth and profitability commensurate with our blue chip customer base and unique technology.”

The company’s second quarter 2014 revenues were up 22% to a record $11.4 million, driven primarily by a 41% increase in sales of the company’s industrial vehicle management systems. The company recently reported several key customer wins, including major commercial contracts for its two new transportation asset management products.

“On behalf of our new board and executive team, I would like to thank our loyal employees, customers and investors for their support that has helped I.D. Systems achieve a leadership position in the multi-billion dollar M2M space,” Ehrman continued.

The event was broadcasted from the NASDAQ’s MarketSite in New York City starting at 9:15 a.m. Eastern time. CNBC and Bloomberg TV also covered the event.



Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Newsroom Notes takes a look at some of the biggest stories and themes in logistics for 2014.

Even though China’s costs have risen and the U.S. has now surpassed Mexico as the preferred locale for relocating offshored manufacturing, advantages can be fleeting and the challenges great

Memphis-based FedEx reported solid fiscal second quarter earnings results today. Quarterly net income of $616 million was up 23 percent annually, and revenue, at $11.9 billion, was up 5 percent. Operating income at $1.01 billion was up 22 percent.

UPS said this week that it has added significant space to some of its North America-based distribution facilities, which the company increases the total size of its supply chain solutions network size by roughly 1.2 million square-feet. The company’s total global supply chain solutions network is comprised of 596 facilities and about 32.8 million square-feet. UPS offers various services at these facilities, including: warehousing and fulfillment inventory, transportation and returns management; custom kitting and packaging; and store-ready displays.

A week ago, the average price per gallon of diesel gasoline saw its steepest decline in more than two years, when it fell 7 cents to $3.535. This week took that decline a step further, with the Department of Energy’s Energy Information Administration (EIA) reporting that the average price this week fell 11.6 cents to $3.419 per gallon.

About the Author

Josh Bond, Associate Editor
Josh Bond is an associate editor to Modern. Josh was formerly Modern’s lift truck columnist and contributing editor, has a degree in Journalism from Keene State College and has studied business management at Franklin Pierce. Contact Josh Bond

Comments

Post a comment
Commenting is not available in this channel entry.