Question-and-Answer Session
Operator
(Operator instructions) We'll take our first question from Brian Ruttenbur with Morgan Keegan.
Brian Ruttenbur – Morgan Keegan
Thank you very much. Question on '09. I know you are not giving guidance, but you are hoping for a flat to slightly up, is that what I heard?
Jeffrey Jagid
You are absolutely right, Brian, we have– in light of the environment and some of the unpredictability that results we have decided that we would hold off for now on giving '09 revenue guidance. Although as I mentioned in my opening remarks, you are right, we would be satisfied at this point with a moderate growth over '08.
Brian Ruttenbur – Morgan Keegan
Okay. Can you talk – do you have any kind of numbers that you can give us on backlog?
Jeffrey Jagid
No. Not at – not on this particular call.
Brian Ruttenbur – Morgan Keegan
Okay. How about your plans to cut costs? Are there any?
Jeffrey Jagid
That's an interesting question. I'm not sure which part of our remarks would have resulted in a question like that, other than the economic environment. Needless to say, we have an extremely strong balance sheet. Our cash burn in '08 was de minimus. We believe that there is not exactly a tremendous amount of extra weight, so to speak, at I.D. Systems; I think we've been careful with the way we've built the infrastructure. We do believe that we have to be careful to make sure that as we continue to further penetrate many of our adjusting accounts that were in a position to perform, that does require certain level of staff. Having said that, we are fairly dynamic and we do want to continue to be somewhat revenue driven, so if there is a, is a drop off, we would certainly reconsider any cost cutting initiatives.
Brian Ruttenbur – Morgan Keegan
Okay. Can you talk about what recurring revenue that you see in '09 versus '08. What percentage of your '08 revenue will reoccur?
Ned Mavrommatis
Well, when you look at recurring revenue, comes from two types, right. One is through, what I would call it pure maintenance and support contracts, but also a big percentage of our revenue comes from existing customers, reordering product either for additional facilities or even to fulfill existing facilities. The maintenance and support agreements that we have to-date provide approximately $600,000 per quarter in revenue and that number continues to grow as we build our customer base.
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