CANTON, MA—February 14, 2013—At last week’s NADA Convention & Expo, LoJack Corporation (NASDAQ: LOJN) began sharing details associated with how it is continuing to invest in and expand the ways it will work with its dealership network in 2013 and beyond. Randy L. Ortiz, President and CEO of LoJack Corporation, took over the helm just over one year ago and has significantly increased the focus and investment in its dealer channel and new product development efforts.
“Before joining LoJack, I spent over 30 years in the automotive industry and much of that time involved working directly with dealers,” said Ortiz. “I’ve spent an extensive amount of my time at LoJack working with our dealer partners to develop a new platform that will consistently deliver incremental PVR for our dealers and drive consumer demand for LoJack products and services.”
“Our dealer partners have told us they want process consistency and repeatability, strong partner-led training and support, and consumer demand generation built for products and services that deliver a true value to the consumer. We’ve responded by redesigning our dealer and consumer experiences focusing on three components:
Demand Generation: New point-of-sale approach that complements the vehicle sales process and is measured and evolved regularly for maximum impact – on the lot, in the showroom and beyond.
Refined Process: A consistent, scalable, measurable and adaptable business process that ‘plugs in’ to any dealer to support the sale, registration, billing and incentives of LoJack products and services.
Actionable Insights: Regular, custom reporting to help uncover trends and improve sales over time.
In addition to our new service platform, we have been focused on building a product pipeline that plugs-in to this platform. Last month, we announced the first step in this effort by entering into a strategic alliance with TomTom, Inc., the world's leading supplier of location and navigation products and services.”
About LoJack Corporation
LoJack Corporation, the company that has helped more than nine million people protect their vehicles in the event of theft over the past 25+ years, today provides safety, security and protection for an ever-growing range of valuable assets and people. Leveraging its core strengths, including its well-known brand, direct integration with law enforcement and dealer distribution network, LoJack Corporation is expanding into new areas across the continuum from theft deterrence to recovery. The Company is focusing on creating a new level of value for its dealer, customer and investor communities by delivering innovative offerings, multiple technologies in expanding geographies.
Safe Harbor Regarding Forward Looking Statements
From time to time, information provided by LoJack or statements made by its employees may contain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements in this news release that are not statements of historical fact are forward-looking statements. You can identify these statements by use of the words “assumes,” “believes,” “estimates,” “expects,” “will,” “intends,” “plans,” “projects” and similar expressions that do not relate to historical matters. Such forward-looking statements are based on a number of assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially, including risks associated with the continued and future acceptance of LoJack’s products and services, competition, LoJack’s relationships with dealers, licensees and agents, LoJack’s ability to respond to technological change to meet evolving customer needs, achieving the expected benefits from LoJack’s strategic alliance with TomTom, and changes in general economic or geopolitical conditions and conditions in the automotive retail market. For a further discussion of these and other significant factors to consider in connection with forward-looking statements concerning LoJack, reference is made to LoJack’s Annual Report on Form 10-K for the year ended December 31, 2011 and LoJack’s other filings with the Securities and Exchange Commission. Readers should not place undue reliance on any forward-looking statements, which only speak as of the date made. Except as required by law, LoJack undertakes no obligation to update any forward-looking statements.
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