Award Expands Iteris’ Multimodal Congestion Management Platform in
the San Francisco Bay Area
SANTA ANA, Calif.--(BUSINESS WIRE)--May 30, 2017--
Iteris,
Inc. (NASDAQ: ITI), the global leader in applied informatics for
transportation and agriculture, today announced a $934,000 contract
award for design services from AC Transit for a corridor travel time
improvement project. The project includes the implementation of transit
signal priority (TSP), bus stop improvements, real-time passenger
information system, and deployment of an Adaptive Signal Control
Technology system.
This contract continues Iteris’ involvement on AC Transit’s popular Line
97, which spans 12.5 miles along a number of major corridors in the San
Francisco Bay Area. The design phase of the project is underway with
deployment anticipated in 2018. Transit Signal Priority is a highly
effective tool to reduce delay and improve schedule reliability for
transit operations. Currently the service time for this route is 134
minutes. Once the project improvements are fully deployed, a roundtrip
travel time is expected to be reduced by as much as 15%.
“This project will improve transit operations and the overall transit
customer experience by reducing traffic congestion and improving
intersection efficiencies along Line 97,” stated Ramin Massoumi, general
manager and senior vice president of Transportation Systems at Iteris.
“Upgrading the corridor transportation technology infrastructure will
produce cascading benefits that include improvements to signal
operations, resulting in reduced fuel consumption and vehicle emissions,
ridership growth through improved schedule reliability, and improved air
quality. These benefits and goals are consistent with AC Transit’s
strategy to maximize operational benefit and efficiency and achieve the
San Francisco Bay area’s Transit Sustainability Project performance
metrics.”
Iteris has provided transit signal operations for over 30 agencies
covering more than 1,000 intersections nationwide. The company is
currently involved in similar transit projects in Los Angeles, Chicago,
Minneapolis, and Orange County, California.
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," “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 our services
and impact the project will have on transit operations. 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 carryout and complete the
project; expectations and impact on transit operations upon project
completion; government funding and budgetary issues, and potential
related funding delays; 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).
View source version on businesswire.com: http://www.businesswire.com/news/home/20170530005305/en/
Source: Iteris, Inc.
Iteris Contact
Tom Roberts
949-270-9572
tlr@iteris.com
or
Iteris
Investor Contact
Todd Kehrli
323-468-2300
iti@mkr-group.com