- Contract Utilizes Iteris’ Leading Performance Software iPeMS® -
SANTA ANA, Calif. – April 24, 2014 – Iteris, Inc. (NYSE MKT: ITI), a leader in providing intelligent traffic management information solutions, was awarded a five-year, $1.2 million contract to implement its flagship traffic analytics product, iPeMS®, for the Virginia Department of Transportation (VDOT).
Under this contract, Iteris is responsible for the
deployment and on-going operation and maintenance of the iPeMS cloud-based analytics
software. The contract builds upon
Iteris’ successful partnership with VDOT.
Currently, Iteris operates and maintains the Commonwealth’s award-winning
511/Traveler Information System and is part of a team selected to provide
operations and engineering services for VDOT’s five traffic operations centers.
The iPeMS software platform, iPerform’s performance management
suite—measures, manages and visualizes transportation networks,providing real-time, actionable information to optimize the flow of the entire network. With iPeMS, Iteris is able to deliver the next generation of cloud based solutions that bring the power of big data to performance monitoring, traffic prediction, and hyper-local weather conditions, to the public marketplace.
“The Virginia DOT has long been a leader in performance measurement,” said Abbas Mohaddes, president and CEO of Iteris. “With the MAP-21 regulatory requirements forthcoming, we expect VDOT to leverage iPeMS as an effective tool to not only measure and manage their transportation network, but to also report improvements.”
About Iteris, Inc.
Iteris, Inc. (NYSE MKT: ITI) is a leader in providing intelligent information solutions to the traffic management market. The company is focused on the development and application of advanced technologies and software-based information systems that reduce traffic congestion, provide measurement, management, and predictive traffic analytics, and improve the safety of surface transportation systems. By combining its unique IP, products, decades of expertise in traffic management, hyper-local weather solutions and information technologies, Iteris offers a broad range of Intelligent Transportation System (ITS) solutions to customers worldwide. The firm is headquartered in Santa Ana, California, with offices nationwide and in the Middle East. For more information, please call 1-888-329-4483 or visit www.iteris.com. Also visit us on Facebook, Twitter, and YouTube.
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," "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 and timing of this contract and the performance and utility of the underlying software data analytics solutions. Such statements 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 complete of each phase of the contract; challenges in the development, roll-out and integration of software-based solutions; the potential impact of product and service offerings from competitors and other competitive pressures; the impact of budgetary cuts and political agendas, general economic and political conditions; and the specific conditions in the markets we address. 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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