Press Release
Transportation Systems Segment’s FY19 Net Bookings or Added Backlog
Total
The segment’s full-year net bookings or added backlog reflect significant and growing demand for all of the segment’s lines of business – consulting, managed services and software as a service (SaaS) – as well as geographic growth across the country. The segment’s SaaS solutions include Iteris SPM™, iPeMS® and the commercial vehicle operations (CVO) product suite.
Recent notable Transportation Systems bookings include:
$4.7 million in combined task orders under a recently awarded indefinite delivery/indefinite quantity contract with a total ceiling of$19.5 million from theFederal Highway Administration to provide continued development, evolution and deployment support for the intelligent transportation systems reference architecture program.-
Over
$3 million SaaS contract received in the fourth quarter from theIowa Department of Transportation for the CVO platform’s new international registration and fuel tax compliance service, which followed two new CVO contracts in the first half of fiscal 2019. $3.5 million traffic signal synchronization project from theOrange County Transportation Authority to upgrade traffic signal infrastructure and improve signal timing along a 16-mile stretch of a major corridor inOrange County, California .$1.5 million contract from theVirginia Department of Transportation for traffic signal system optimization support and on-site staffing for arterial roads throughout the northern region ofVirginia .$1.4 million contract from theCity of Culver City to provide a bus signal priority (BSP) system for eight Culver CityBus lines, representing the continued expansion of its BSP solution in southernCalifornia .$1.4 million in combined service orders under a new$3.2 million on-call contract from theSan Bernardino County Transportation Authority for traffic signal synchronization services across 15 cities in theSan Bernardino Valley area, demonstrating a strong level of demand for Iteris’ intersection-as-a-service™ offering.
“Over the last several quarters, we have pursued geographic growth in
select markets, introduced innovative new solution offerings, enhanced
our SaaS product portfolio, and expanded our consulting and managed
services business,” said
About
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," “feels,” “anticipates,” "expects," "intends," "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 growth in our bookings and geographic markets. 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 perform each project and
contract on a cost-effective basis; government funding and budgetary
delays, constraints and issues; adverse impacts of general economic,
political, and other conditions in the markets we address; our ability
to maintain appropriate headcount for our growing regions; and the
potential impact of product and service offerings from competitors and
such competitors’ patent coverage and claims. Further information on
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Source:
Iteris Contact
David Sadeghi
Tel: (949) 270-9523
Email:
dsadeghi@iteris.com
Investor Relations
MKR Investor Relations, Inc.
Todd
Kehrli
Tel: (323) 468-2300
Email: iti@mkr-group.com