SANTA ANA, Calif.--(BUSINESS WIRE)--
Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced it has been awarded Orange County’s first Integrated Corridor Management (ICM) project. The $2.6 million on-call contract focuses on improving mobility in the heavily congested Platinum Triangle.
This initial ICM project will integrate freeway and arterial operations along the I-5, SR-55 and SR-91 freeways to improve mobility in Orange County. The project will also leverage system components planned for the I-210 Connector Corridor in Los Angeles, of which Iteris is a contributor. It is expected the project will establish a framework for future ICM projects in Orange County and the state.
“Safe and efficient mobility is at the core of intelligent transportation projects Iteris is involved with. Connecting and integrating transportation systems and modes is critical to achieving ever-improved safety and efficiency,” said Ramin Massoumi, general manager and senior vice president of Transportation Systems at Iteris. “This Integrated Corridor Management project underscores Orange County’s commitment to invest in its transportation infrastructure, ensuring smarter mobility for its vibrant economy.”
The Platinum Triangle confluence of corridors ranked as having the highest vehicle hours of delay in 2012, along with the highest concentration of special events. The special event locations include Disneyland Resort and Theme Park, Angels Stadium, Honda Center, and Anaheim Convention Center.
Iteris is active in many ICM projects throughout the country through the development of smarter mobility solutions, from a multimodal app in San Diego to design and integration services in the San Francisco Bay Area and Virginia. ICM projects promote balance among transportation mode options that include auto, transit, bus and bicycle, making real-time actionable information readily available for transportation engineers and the traveling public alike. These projects are an integral part of connecting communities and the adoption of smart city solutions.
Iteris’ Transportation group provides advanced design, real-time data and analytics, and actionable informatics to safely improve mobility within communities and ready the roadways for connected/autonomous vehicles in smart cities.
About Iteris, Inc.
Iteris is the global leader in applied informatics for transportation and agriculture, turning big data into big breakthrough solutions. We collect, aggregate and analyze data on traffic, roads, weather, water, soil and crops to generate precise informatics that lead to safer transportation and smarter farming. Municipalities, government agencies, crop science companies, farmers and agronomists around the world use our solutions to make roads safer and travel more efficient, as well as farmlands more sustainable, healthy and productive. Visit www.iteris.com for more information.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the success, impact and benefits of the awarded contract and the ICM project. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to successfully integrate and deliver effectively; future success of intelligent transportation systems; government funding and budgetary issues and potential related scheduling and funding delays; impact of influences and variances of general economic, political, environment and other conditions; and the potential impact of product and service offerings from competitors and such competitors’ patent coverage and claims. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
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