Press Release
Extendable Three-year Agreement Continues to Expand Company’s Multimodal Efficiency and Vehicle-to-Infrastructure Initiatives
- Initiative will improve services for over five million Culver
CityBus riders a year, covering 33 square miles of west
Los Angeles communities - Deal represents Iteris’ commitment to leveraging vehicle-to-infrastructure technology to improve efficiency in public transit networks nationwide
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Iteris Awarded
Under the terms of the three-year agreement, which is extendable for two
additional years of operations and maintenance service,
“Improving safety and efficiency for all modes of transportation is a
priority for
Deployment of the BSP system is anticipated to be completed within 12 months. The BSP system will leverage existing on-bus systems that incorporate GPS-based automatic vehicle location equipment, wireless communications and advanced intersection traffic controller technologies.
The CCB serves approximately 5 million riders annually on eight lines that include a bus rapid transit line called the Rapid 6. The CCB service area encompasses 33 square miles.
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," "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 the success, impact, and benefits of the awarded contract. 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 perform the contract on a cost-effective
basis; agency funding and budgetary allocations and constraints;
performance timing and cancellation of contract or task orders; impact
of influences and variances of general economic, political, environment,
and other conditions; and the potential impact of product and service
offerings from competitors. Further information on
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Source:
Iteris Contact
David Sadeghi, 949-270-9523
dsadeghi@iteris.com
or
Investor
Relations
MKR Group, Inc.
Todd Kehrli, 323-468-2300
iti@mkr-group.com