Woodcliff Lake-based I.D. Systems Inc., a wireless security and management provider, announced Thursday its full year 2013 financial results.
According to the announcement, revenue fell from $44.6 million in 2012 to $39.9 million last year. The gap was attributable to a decrease in revenue from rental fleet management, but reflects the completion of the first phase of the company’s agreement with Avis Budget Group in 2012.
"Our rental fleet management business remains an evolving opportunity, not only with our current customer, Avis Budget Group, but also with other companies—both in and outside of the car rental industry. We will continue our efforts to commercialize our intellectual property in this area,” Kenneth Ehrman, I.D. Systems’ president and interim CEO said.
For a more in depth look into I.D. Systems’ year, click here.
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