Iteris Awarded Major Video Detection Project in Henderson, Nevada
--Vantage Video Selected to Provide Intersection Vehicle Detection Citywide --
Santa Ana, Calif. ? Iteris, Inc., a leader in the traffic management market that focuses on the application and development of advanced technologies, today announced that the Company has received, through its regional distributor Phoenix Highway Products, a $577,000 order for Vantage® video detection systems from the city of Henderson, Nevada. The order is expected to ship by the end of March 2010.
Henderson?s Traffic Signal Improvement Project is intended to ease traffic flow by retrofitting signalized intersections citywide with advanced vehicle detection. Henderson has been a longtime Vantage video detection user.
?It?s wonderful when an existing customer expands its use of our video detection solutions through projects like this,? said Abbas Mohaddes, Iteris? president and chief executive officer. ?Vantage offers unprecedented versatility and value to agencies seeking powerful, flexible tools to move traffic. ?We are committed to providing our customers with high-quality, innovative products that improve the quality of life for its citizens by helping to minimize congestion and travel times.?
?Henderson has used Iteris? equipment for several years to improve traffic flow. Iteris and Phoenix Highway Products have provided great service and the equipment is outstanding,? states Luke Smith, Traffic Maintenance Superintendent, City of Henderson, Nevada. ?Iteris? Vantage video detection systems have delivered solid product performance and are well engineered to work in our extreme temperatures.?
Vantage Video Detection Solutions
Iteris applies video detection to a broad range of traffic management applications, including intersection control and highway management systems. The Company?s advanced image processing technology is used in its Vantage product line to detect vehicle presence, count, speed, occupancy, and other traffic data used in traffic management systems. This gives traffic managers a powerful toolkit for mitigating roadway congestion by modifying traffic signal timing or detecting incidents quickly. Vantage video detection cameras are multi-functional, flexible, and reliable. They have been deployed by hundreds of agencies in North America, and in Asia, Latin America, Europe, and the Middle East. The product is currently sold through a network of over 20 independent dealers in North America, Asia, Europe, and South America.
About Iteris, Inc.
Iteris, Inc. is a leader in the traffic management market focused on the development and application of advanced technologies that reduce traffic congestion, minimize the environmental impact of traffic congestion, and improve the safety of surface transportation systems. Combining outdoor image processing, traffic engineering, and information technology, Iteris offers a broad range of Intelligent Transportation Systems and driver safety solutions to customers worldwide. Iteris is headquartered in Santa Ana, California with offices throughout the United States and in Europe, and Asia. Investors are encouraged to contact us at 888-329-4483, or at www.iteris.com.
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 performance, acceptance, and expected benefits of our technology including our Vantage vehicle video detection systems, our market opportunities both domestically and abroad and our strategies and our future prospects. These statements are subject to change and we undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, our 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 introduce, manufacture, market, and gain broad market acceptance of our Vantage video vehicle detection systems; government budget and timing constraints; the impact of product offerings from competitors and other competitive pressures; potential unforeseen technological challenges or changes in technology that may require reengineering; the availability of components for our products; and the general economic and political conditions and 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).
# # #