Revenue during the quarter dropped 9.17 percent to $9.23 million from $10.16 million in the previous year period. Gross margin for the quarter expanded 214 basis points over the previous year period to 47.36 percent. Operating margin for the quarter stood at negative 22.59 percent as compared to a negative 10.33 percent for the previous year period.

Operating loss for the quarter was $2.08 million, compared with an operating loss of $1.05 million in the previous year period.

“Our fourth quarter results were strong, highlighted by a sequential increase in both revenue and gross profit, driven by orders from several of our significant accounts,” said I.D. Systems chief executive officer Chris Wolfe. “This performance capped off a year of significant transformation for our company, resulting in a much stronger, leaner, and more focused organization. The cost-cutting initiatives implemented in the second half of 2015 drove meaningful improvements in several of our key financial metrics, including gross profit, operating expenses, and net loss. Additional benefits from the cost-optimization measures taken following my appointment in mid-December have yet to be materially reflected in our financials.

The company has spent $0.53 million cash to meet investing activities during the year as against cash inflow of $3.50 million in the last year.

Cash flow from financing activities was $3.06 million for the year, up 64.94 percent or $1.21 million, when compared with the last year.

Cash and cash equivalents stood at $4.97 million as on Dec. 31, 2016, up 10.76 percent or $0.48 million from $4.49 million on Dec. 31, 2015.

Working capital drops significantly
I.D. Systems, Inc has witnessed a decline in the working capital over the last year. It stood at $10.10 million as at Dec. 31, 2016, down 28.25 percent or $3.98 million from $14.07 million on Dec. 31, 2015. Current ratio was at 1.57 as on Dec. 31, 2016, down from 1.85 on Dec. 31, 2015.