SANTA ANA, Calif. – May 9, 2019 – Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced that its intersection detection and related traffic management products have been certified for purchase under the newly reinstated Texas SmartBuy contract 550-A2, administered by the Statewide Procurement Division of the Texas Comptroller of Public Accounts.
SmartBuy contract 550-A2, which was just renewed, administers the purchase of traffic control devices, markers and delineators for the Texas Department of Transportation, as well as local agencies across the state of Texas. This new contract will remain in effect until November 30, 2019, with three optional one-year renewal periods. The prior version of this contract ended on May 31, 2018, temporarily affecting the purchase of Iteris’ video, radar and Bluetooth detection sensors; traffic controllers; and fiber-optic communications devices and systems in the Texas market.
“We are delighted to have received notice from the Texas Comptroller of Public Accounts that our market-leading portfolio of intersection detection and other intelligent transportation system technology products are now available for purchase via the recently reinstated Texas SmartBuy contract for traffic control devices, markers and delineators,” said Joe Bergera, president and CEO of Iteris. “Texas is one of the largest and most progressive transportation markets in the country and we look forward to continuing to help the state improve safety and mobility for its road users with our intersection detection and other related technology products.”
The Texas SmartBuy Membership Program is a service provided by the Texas Comptroller’s office. It promotes best value procurements through state contract usage at the local level, by leveraging the multi-billion dollar purchasing volume of the estimated #10 economy in the world.
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 success and benefits of participating in a procurement program. 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, changes in the Texas SmartBuy Membership Program that may adversely impact our sales; government agendas, funding and budgetary issues, and potential related funding delays and discontinuations; 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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