Iteris$5.5 Million Contract Award for Initial Design Phase Scheduled
for 2018 Completion; Work Started in March
SANTA ANA, Calif.--(BUSINESS WIRE)--Oct. 3, 2017--
Inc. (NASDAQ: ITI), the global leader in applied informatics for
transportation and agriculture, today confirmed a $5.5 million initial
contract for its role on the I-405 Improvement project for one of the
busiest freeway segments in the nation, located in Orange County.
Iteris’ initial work on the project involving infrastructure design
started in March and is expected to run through 2018.
Improvement project has a total budget of more than $1 billion and
is the largest-scale project undertaken by Orange County Transportation
Authority (OCTA), in cooperation with Caltrans. Iteris is responsible
for the freeway intelligent transportation systems (ITS) and Express
Lane infrastructure design, temporary ITS infrastructure for use during
construction, development of the project traffic management plan, and
signal design at 42 intersections throughout the corridor. ITS and
Express Lanes elements to be designed include changeable message signs,
CCTV cameras, vehicle detection, ramp metering, and communications
networks for both ITS and the Express Lanes. The widening project will
add a total of four lanes: two general purpose lanes and two tolled
“This iconic project brings together the best practices for project
design and delivery for smarter mobility,” said Ramin Massoumi, general
manager and senior vice president of Transportation Systems at Iteris.
“The ITS design incorporates leading technologies to ensure safety of
motorists, simplified traffic management and improved travel times.”
An OCTA study concluded that by 2040, travel during rush hour through
the regular lanes of this 16-mile stretch of I-405 will take only 29
minutes. The commute can be reduced to 13 minutes if a driver chooses to
take the new Express Lanes. Without the widening project, it would take
two hours and 13 minutes to travel the same stretch in regular lanes and
two hours in the current carpool lanes.
Iteris is leading numerous ITS design and communication infrastructure
projects nationwide, enabling smart mobility and smart communities.
Iteris’ Transportation Systems business unit provides advanced design,
real-time data analytics, and actionable informatics, to safely improve
mobility within communities and ready the roadways for
connected/autonomous vehicles in smart cities.
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.
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,"
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"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 timing,
budget for the project, impact, and benefits of the awarded contract and
the design and implementation 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 deliver services timely and cost
effectively; government funding and budgetary issues and delays; impact
of influences and variances of general economic, political, environment,
and other conditions; 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
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Source: Iteris, Inc.