Solutions Group, Inc. Announces Backlog of 1,000 iDrive Units
May 11 2010 - 8:45AM
Marketwired
Solutions Group, Inc. (PINKSHEETS: SOLU) announced that its
subsidiary iDrive srl has a firm sales backlog of over 1,000 of its
iDrive onboard vehicle monitoring cameras, which translates to over
$500,000 in revenues. Due to this accelerated sales volume, iDrive
has negotiated with their component suppliers to increase
production to meet the demand for the low-cost solution to the
vehicle safety monitoring problem. The iDrive video recorder
provides on board monitoring for managing safety, security and
individual performance for commercial vehicle operators, and on
board and remote recordings of vehicle location and operation
enabling their insurance companies to evaluate performance and
lower their rates. Management plans that the production ramp-up
begun on May 1 will continue throughout the remainder of this
quarter.
Sean O'Neil, Solutions Group's President, stated that "Much of
the unanticipated jump in sales comes from existing customers'
repeat orders and ordering for inventory build up, to meet
increasing industry demand for the iDrive device. We are also
pleased to announce that our DECELERATOR commercial will be
featured through Time Warner Cable in the Los Angeles, CA market to
promote Decelerator sales. The initial program will run in Four (4)
targeted zones with 17 viewings per week in each zone consisting of
the CNN, MSNBC and FOX networks. There will be a total of 455
airings minimum for an initial (3) week period. Our Nationwide
Commercial rollout is being structured to target regions that are
most populated with Toyota/ Lexus ownership. We are focusing our
Media Relations budget on priority areas and expanding from
there."
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See this release in video format:
http://www.vodnewswire.com/vodnewswire/news/solutions-group-20100511/
About Solutions Group:
Solutions Group is an international provider of Managed
Engineering Services. The Company seamlessly integrates its
regional design centers in North America with its lower cost
off-shore engineering locations in Romania and Mexico to provide
exceptional blended pricing solutions and reduced product design
cycle times. Solutions Group creates greater value for its
shareholders by leveraging its core engineering competencies into
other opportunities including royalty partnerships, intellectual
property creation and selective acquisitions. SGI's customers
currently include major Fortune 500 companies, small and mid-range
OEMs and early stage product companies.
For more information please visit our website at:
www.solutionsgroupcorp.com
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This press release contains forward-looking statements that are
made pursuant to the Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995, particularly those
statements regarding the effects of the proposed transaction and
those preceded by, followed by or that otherwise include the words,
"believes," "expects," "anticipates," "intends," "estimates," or
similar expressions. Forward-looking statements relating to
expectations about future results or events are based upon
information available to The Company as of today's date, and The
Company does not assume any obligations to update any of these
statements. The forward-looking statements are not guarantees of
the future performance of The Company and actual results may vary
materially from the results and expectations discussed.
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Contact: Solutions Group, Inc. 3757 State St.
Suite 306 Santa Barbara, CA 93105 Kim Carroll Investor Relations:
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