SANTA ANA, Calif.--(BUSINESS WIRE)--
Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced that it has been awarded a $3.5 million traffic signal synchronization project by the Orange County Transportation Authority (OCTA).
The three-year project includes intelligent transportation system (ITS) improvements, upgrades to traffic signal infrastructure and signal timing improvements along a 16-mile stretch of a major corridor spanning 59 signalized intersections. The project involves six city agencies – Anaheim, Fountain Valley, Fullerton, Garden Grove, Huntington Beach and Westminster – as well as the California Department of Transportation District 12.
Under the project agreement, Iteris will design, implement, maintain and operate traffic signal technology and fiber-optic communications equipment, and will synchronize traffic signals along the entire Brookhurst Street corridor – a heavily traveled arterial road transporting approximately 38,000 vehicles per day. The primary goal of the project is to improve traffic flow and safety for all road users, including vehicles, buses, bicycles and pedestrians, by providing updated signal timing and signal synchronization along the corridor and provide ongoing maintenance services for a period of two years.
“We are proud to support OCTA’s goal of improving the safety and mobility of Orange County’s road users by embarking on this traffic signal synchronization project,” said Scott Carlson, vice president and assistant general manager, Transportation Systems at Iteris. “This initiative represents the continued expansion of Iteris’ traffic signal coordination services in southern California and will ultimately help to increase the value and effectiveness of the region’s existing transportation infrastructure, while also improving air quality and reducing fuel consumption.”
Iteris expects to commence the traffic signal synchronization project immediately.
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 and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
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," “outlooks,” “target,” "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 timing, success, and benefits of the awarded 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 provide the services on a cost-effective basis; government funding and budgetary issues, and potential impacts related funding delays; changes in requirements to upgrade the traffic signal infrastructure; availability of resources, such as components and equipment necessary to perform the work for the project; the impact of general economic, political, and other conditions in the markets we address; 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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