-- The multi-year contract establishes Iteris as a leader in signal and bus rapid transit systems design, implementation and maintenance --
Santa Ana, Calif.-- Iteris, Inc. (AMEX: ITI), a leader in the traffic management market that focuses on the application and development of advanced technologies, today announced that it has been selected by the Los Angeles County Metropolitan Transportation Authority (LACMTA) to implement bus signal priority systems for three Metro Rapid transit corridors in Los Angeles County, California. Work is expected to begin on the project this quarter.
Under the contract with the LACMTA, valued at just under $8.0 million, Iteris will be responsible for the design, acquisition, deployment, and on-going operation and maintenance of bus traffic signal priority systems at 211 signalized intersections maintained by 18 local agencies along Manchester Boulevard, Garvey Boulevard/Cesar Chavez Avenue, and Atlantic Boulevard. Deployment of the bus signal priority systems will be completed in 30 months.
?The LACMTA Metro Rapid Program demonstrates how public transit services can be effectively developed to relieve traffic congestion and provide sustainable transportation in our urbanized areas,? said Abbas Mohaddes, Iteris? president and chief executive officer. ?Intelligent Transportation System elements, such as advanced transit signal priority systems, contribute significantly to the successful deployment of these modern public transit services. Iteris is very pleased to have been selected by the LACMTA to develop advanced transit signal priority systems for its successful Metro Rapid Program.?
The bus signal priority systems utilize on-bus systems incorporating GPS-based automatic vehicle location equipment, wireless bus-to-intersection communications, and intersection traffic controller technologies previously implemented under the Countywide Metro Rapid Signal Priority Program. Project responsibilities include coordination with local agencies; preparation of design plans for the installation of intersection bus signal priority systems; 170 and NEMA controller and firmware upgrades; installation of intersection and on-bus traffic signal priority systems; system acceptance testing; and system maintenance and operations for the three project corridors and four corridors implemented under an earlier phase of the program for a period of four years.
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 U.S., 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 success and timing of this project and our future prospects. Important factors that may cause such a difference include, but are not limited to our ability to specify, develop and complete our technologies in a timely manner; budget constraints and changing governmental priorities; the timing and successful completion of this contract; the potential unforeseen impact of product offerings from competitors and other competitive or governmental pressures; 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).
# # #
Iteris Investor Relations, Brett Maas, 646/536-7331, email@example.com
Trade Relations: Kelly May, 949-270-9668, firstname.lastname@example.org