Iteris,
Inc. (NASDAQ: ITI), the global leader in applied informatics for
transportation and agriculture, today announced that it has executed the
final contract and received the formal notice to proceed for a $3.6
million initiative with the Orange County Transportation Authority
(OCTA) for a regional traffic signal synchronization project.
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Iteris Awarded $3.6 Million Contract by Orange County Transportation Authority for Traffic Signal Synchronization Project (Photo: Business Wire)
The three-year project includes signal coordination and timing
improvements, with the aim of improving traffic flow, enhancing public
safety and decreasing stops.
Under the project agreement, Iteris will provide services that will
upgrade traffic signal electronics and communications equipment, and
optimize signal timing along Main Street, a major north-south corridor
that comprises major signalized intersections spanning three cities –
Orange, Santa Ana and Irvine – in Orange County, California.
As part of the project, Iteris’ intersection-as-a-service™ end-to-end
solution offering will deliver proactive monitoring of traffic signal
operations at all project intersections. The primary goal of this
project is to deploy new intelligent transportation system (ITS)
equipment and communication infrastructure to support the management of
the cities’ transportation network, implement optimized coordination
timing plans to achieve optimal traffic flow, and improve safety for all
road users, including vehicles, buses, bicycles and pedestrians.
“We are proud to support OCTA’s goal of improving the safety and
mobility of 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, as well as our intersection-as-a-service
offering, across the West Coast 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 coordination and ITS
design 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 agreement. 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; project cancellation; availability of resources,
such as components and equipment necessary to perform the work for the
project; the challenges in the development and deployment of
software-based solutions generally; 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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