New Contract to Continue Iteris’ Expanding Education Program with the Federal Highway Administration and National Highway Institute
SANTA ANA, Calif. – November 7, 2017 – Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, has been awarded a new indefinite delivery/indefinite quantity (IDIQ) contract worth up to $9.5 million from the Federal Highway Administration (FHWA) to develop, update, and deliver the National Highway Institute’s (NHI) financial management, business, public administration, quality, civil rights, highway safety and communications training.
Since 2001, Iteris has been an agency of record for the FHWA and NHI, providing training programs for both sub-divisions of the United States Department of Transportation. Under this new contract Iteris will advance the state of practice and implement best practices for the FHWA financial management, business, public administration, quality, civil rights, highway safety and communication program areas. Training courses are delivered to staff from federal, state, regional and local transportation agencies.
"We are thrilled that FHWA renewed their confidence in our ability to deliver this very important program," said Ramin Massoumi, senior vice president and general manager, Transportation Systems at Iteris. “Our track record of developing and delivering training courses with instructional system design techniques, paired with our nationally renowned subject matter experts will allow us to continue to provide outstanding education services to state and local agencies nationwide.”
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.
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 and benefits of the awarded contract and the performance and quality of the training and education services. 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 successfully and timely deliver the services; government funding and budgetary issues, and potential scheduling-related and funding delays; the potential impact of new practices and changes to practices for federal, state and other transportation agencies; 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, including without limitation, 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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