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According to the company, the increase resulted primarily from recent growth in demand for the company's wireless industrial vehicle management systems. In recent weeks, I.D. Systems has increased its order backlog by securing contracts from both existing and new customers, through both direct and indirect sales initiatives.
"Our elevated revenue expectation for 2008 reflects continued execution of our strategy to grow revenue by both deepening relationships with core customers and winning new accounts to expand our customer base," said Jeffrey Jagid, I.D. Systems' chairman and chief executive officer. "We look forward to continue adding new customers and further diversifying our sources of revenue."
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