SANTA ANA, Calif.--(BUSINESS WIRE)--
Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced that it has received $2 million in service orders under a new $3.2 million on-call contract from the San Bernardino County Transportation Authority (SBCTA) for traffic signal synchronization services across 15 cities in the San Bernardino Valley area.
Under the three-year $3.2 million on-call contract, Iteris will prepare traffic signal coordination master plans, update existing coordinated traffic signal timing plans, perform semi-annual system assessments, and provide on-call system support and maintenance services for the San Bernardino Valley Coordinated Traffic Signal System (SBVCTSS) corridors – a heavily traveled arterial network of more than 250 square miles. The primary goal of the project is to improve traffic flow and safety for all road users, including vehicles, buses, bicycles and pedestrians, as well as reduce travel times and number of stops along the SBVCTSS corridors.
The initial service orders address traffic signal timing improvements, semi-annual assessments and ongoing maintenance both within cities and across jurisdictional boundaries for 1,250 signalized intersections. The service orders span 16 agencies: Chino, Chino Hills, Colton, Fontana, Grand Terrace, Highland, Loma Linda, Montclair, Ontario, Rancho Cucamonga, Redlands, Rialto, San Bernardino City, San Bernardino County, Upland and Yucaipa.
“We are proud to support the SBCTA’s goal of improving the safety and mobility of its road users with this expansive traffic signal synchronization project, which demonstrates demand for Iteris’ intersection-as-a-service offering and represents the continued expansion of our advanced signal timing services in southern California,” said Ramin Massoumi, senior vice president and general manager, Transportation Systems at Iteris. “This new initiative with the SBCTA will not only help to decrease travel times and overall traffic congestion but also improve air quality and reduce the existing transportation system’s impact on the environment.”
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," "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 related task orders. 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 perform the contract on a cost-effective basis; agency funding and budgetary allocations and constraints; performance timing and cancellation of contract or task orders; impact of influences and variances of general economic, political, environment, and other conditions; and the potential impact of product and service offerings from competitors. 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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