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Availability under this line of credit may be reduced or otherwise limited as a result of our obligations to comply with certain financial covenants. 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The amendments prescribed by ASU 2011-05 are currently scheduled to become effective on a retrospective basis for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December&#160;15, 2011. Early adoption is permitted. We do not expect that the adoption of ASU 2011-05 will have a material impact on our consolidated financial statements.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">In September&#160;2011, the FASB issued ASU No.&#160;2011-08, <i>Testing for Goodwill Impairment</i> (&#8220;ASU 2011-08&#8221;). With respect to performing their required annual test for goodwill impairment, ASU 2011-08 gives companies the option to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If a company concludes that this is the case, it must perform the two-step test in accordance with previously existing guidance. Otherwise, a company can skip the two-step test. ASU 2011-08 is effective for fiscal years beginning after December&#160;15, 2011. Early adoption is permitted and we chose to adopt ASU 2011-05 in Fiscal 2012, which did not result in a material impact on our consolidated financial statements.</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table> 34205000 3420000 136997000 -31000 -85025000 -3000 55358000 -47000 -47000 113000 12000 131000 143000 375000 375000 31000 31000 3000 3000 2203000 2206000 34318000 3432000 137503000 -82869000 58066000 46000 4000 53000 57000 382000 382000 -5209000 -5209000 34364000 3436000 137938000 -88078000 33909000 3391000 137645000 85000 77000 8000 58000 5000 ITERIS, INC. 0000350868 10-K 2012-03-31 false --03-31 No No Yes Smaller Reporting Company 2012 FY 33998351 33247000 3000 2203000 2206000 1180000 -0.15 0.07 0.00 -0.01 -0.15 0.06 0.00 0.00 11081000 5360000 2454000 2904000 425000 40925000 1948000 6761000 2578000 17318000 210000 4044000 3398000 2942000 1542000 634000 700000 351000 657000 3391000 137645000 -85564000 55472000 27679000 30727000 13393000 21942000 17986000 3183000 504000 -619000 4000 -72000 643000 28000 0.04 0.03 0.00 0.07 34259000 34380000 68000 51000 574000 331000 -5000 696000 2514000 -85564000 331000 754000 286000 907000 331000 504000 -1000 1180000 1826000 902000 -79000 -284000 289000 337000 969000 11446000 2330000 754000 788000 85000 111000 439000 971000 5000 2514000 2514000 -5209000 -138000