Boston, MA 09/03/2014 (wallstreetpr) – I.D. Systems, Inc. (NASDAQ:IDSY) has announced that it will be attending upcoming 2014 Gateway Conference in the month of September. The conference will be held at The Palace Hotel in San Francisco. The management of I.D. Systems will discuss the operational developments and financial performance at the presentation. It will also discuss I.D. System’s 2.0 initiatives to improve its revenue performance in coming quarters. The management wants to shift its focus on increasing recurring revenue streams. Its recurring revenues came at $4.5 million in the second quarter comparable to $4.4 million in 2Q2013.
The future ahead
The present world is moving into an advanced tech-savvy time where everything will be connected to the internet. It will be a whole new world of machine-to-machine communications. M2M will become a normal trend in life which will sync together all the various objects and devices.I.D. Systems, Inc. (NASDAQ:IDSY) is set to benefit from the growing M2M market.
The financial performance
The growth in sector and growth in the Company is visible in I.D. Systems, Inc. (NASDAQ:IDSY) financial results. It posted revenues of $11.4 million in its last quarterly results. It was record revenue for the company as it was a 22% rise year-over-year. Also, the sales rose 17% sequentially. The higher growth in sales of industrial vehicle management system led to the higher revenues. The VMS sales rose 41% sequentially. The growth is coming to I.D. Systems from having a dominant market share in the industry. The revenues are growing, and valuations look quite attractive at this time.
VMS sector
VMS is proving solid platform in I.D. Systems, Inc. (NASDAQ:IDSY) growth. As of now, the sector reflects 5% market penetration leaving lot more space for growth. Moreover, I.D. Systems owns almost 50% market share in the industry making it the perfect candidate to benefit in coming time. It created its first VMS deployment in China in the last quarter.
