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Monday, April 04, 2011 9:58:19 PM
Press Release Source: Solutions Group, Inc. On Tuesday May 11, 2010, 9:45 am EDT
SANTA BARBARA, CA--(Marketwire - 05/11/10) - Solutions Group, Inc. (Pinksheets:SOLU - News) 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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