[November 09, 2009] ID Systems reports net loss in Q3 Tweet Nov 09, 2009 (Datamonitor via COMTEX) -- ID Systems, a provider of wireless solutions, has reported a net loss of $3 million, or $0.27 per share, for the third quarter ended September 30, 2009, compared to a net income of $619,000, or $0.06 per share, for the third quarter of 2008. For the third quarter of 2009, total revenues were $1.8 million, compared to $9.3 million for the third quarter of 2008. For the first nine months ended September 30, 2009, total revenues were $7.5 million, compared to $19.1 million for the same period of 2008. Net loss was $8.4 million, or $0.77 per share, compared to a net loss of $2.9 million, or $0.27 per share, for the first nine months of 2008. Jeffrey Jagid, chairman and CEO of ID Systems, said: "Cautionary technology spending in the industrial marketplace continued to impact our ability to close business in the short term. Our strong results in the third quarter a year ago were driven by a large order for our wireless industrial vehicle management system by one of our core customers. We did not meet our goals for closing orders of similar magnitude in the third quarter this year." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon [ Back To TMCnet.com's Homepage ]