04.03.2010 13:30:00
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Iteris Awarded $1.1 Million Contract for Maintenance and Operations for Inland Empire’s 511 Traveler Information System
Iteris, Inc. (NYSE Amex:ITI), a leader in the traffic management market that focuses on the application and development of advanced technologies, today announced that, following the successful introduction of a 511 traffic information system for the Inland Empire, the Riverside County Transportation Commission (RCTC), in a cooperative venture with the San Bernardino Associated Governments (SANBAG), has awarded Iteris a $1.1 million, three-year contract to operate and maintain the system. The award consists of an initial one-year term which will be followed by two guaranteed one-year extensions. Work on the project is expected to begin immediately and run through January 2013.
Iteris engineered and deployed the Inland Empire 511 system (IE511), which launched on January 27, 2010. The IE511 system provides this high growth area to the east of Los Angeles with a comprehensive, multi-media, traffic, and transit information system. This traveler information system includes a traffic map and Interactive Voice Response (IVR) telephone system. The interactive map will display travel times on major highways, changeable message signs, as well as display incidents and SigAlerts as reported by the California Highway Patrol.
Under this new contract, Iteris will be responsible for the Internet map and IVR telephone system which covers the entire Southern California region of the IE511 System. As well as routine and preventative maintenance activities, Iteris staff will also be on call on a 24/7 basis. Iteris will report regularly to RCTC on system up-time and user statistics. In addition, Iteris will provide for the hosting of the IVR system, thereby reducing demands on RCTC staff.
"Thanks to Iteris’ traveler information systems services, residents and commuters now have vital, up-to-date, and pertinent information and we can assist them in making the best decision possible for how to travel in the Southern California region,” stated Robert Yates, RCTC Multimodal Services Director. "It is logical to continue with Iteris to keep the service at peak performance to serve the needs of the residents, commuters, and freight operators in the two counties.”
"Iteris appreciates the confidence displayed by the RCTC and SANBAG in awarding this work to the company,” said Abbas Mohaddes, president and chief executive officer of Iteris. "We look forward to expanding Iteris’ traveler information systems services in the Inland Empire and improving the mobility for the over 4 million residents of the region.”
About Iteris, Inc.
Iteris, Inc. is a leader in the traffic management market focused on the development and application of advanced technologies that reduce traffic congestion, minimize the environmental impact of traffic congestion, and improve the safety of surface transportation systems. Combining outdoor image processing, traffic engineering, and information technology, Iteris offers a broad range of Intelligent Transportation Systems and driver safety solutions to customers worldwide. Iteris is headquartered in Santa Ana, California with offices throughout North America, and in Europe and Asia. Investors are encouraged to contact us at 888-329-4483, or at www.iteris.com.
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," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "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 timing of this project and our future prospects.
Important factors that may cause such a difference include, but are not limited to our ability to specify, develop, and complete our technologies in a timely manner; budget constraints and changing governmental priorities; the timing and successful completion of this contract; the potential unforeseen impact of product offerings from competitors and other competitive or governmental pressures; and the general economic, political, and specific conditions in the markets we address. 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).
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