SOURCE: Solutions Group, Inc.

Solutions Group, Inc.

January 25, 2010 10:58 ET

Solutions Group, Inc. Announces Fourth Quarter idrive Sales Above Projections

SANTA BARBARA, CA--(Marketwire - January 25, 2010) - Solutions Group, Inc. (PINKSHEETS: SOLU) announced that its subsidiary idrive Monitoring Systems has released sales numbers for the fourth quarter of 2009 that were above projections.

Stefan Dragomir, president of idrive, said that "Our sales efforts, led by Tranzportek, have exceeded our projections and expectations. The Tranzportek team is well connected and respected in the industry, and has been the driving force behind our sales expansion. I commend them for these accomplishments."

Mr. Dragomir went on to say that "The fact that the X1 offers superior capabilities, yet is the lowest cost option in the industry at $495, is also a contributing factor in the early success of the product."

The idrive product, which targets the Taxi Cab and Fleet Service industry, is being sold through OEM and independent sales channels, and online at The idrive X1 release has been well received by the Insurance industry as event data recording devices have been proven to reduce accidents. The product is also in high demand for fleet service owners and operators who are looking to reduce costs from driving incidents.

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.

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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.

Contact Information

  • Contact:

    Solutions Group, Inc.
    Kim Carroll
    Investor Relations
    +1 949 630 9831