New Contract with Potential Value of $1 Million Expands the Company’s Market Penetration in Mid-Atlantic
- Program leverages Iteris’ traffic signal operations expertise to support city’s goal of improving safety and mobility for all road users, while increasing sustainability.
- Iteris experts will develop traffic signal, hurricane evacuation and interstate highway diversion timing plans under an open-ended on-call contract that is renewable for up to four years.
- Deal represents continued demand for Iteris’ specialized consulting services in a key geographic market.
SANTA ANA, Calif.–(BUSINESS WIRE)–$ITI #IoT—Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has been awarded an open-ended annual services on-call contract by the City of Suffolk, Virginia’s Department of Public Works for traffic signal optimization engineering services, representing continued demand for Iteris’ specialized consulting services in a key geographic market.
Under the contract, which is renewable for an additional four years with an estimated potential value of up to $1 million, Iteris will develop signal timing plans for key signalized intersections, provide vehicle turn movement counts, perform before-and-after corridor analysis, develop hurricane evacuation timing plans and Interstate 664 diversion timing plans, and design intelligent transportation system (ITS) equipment plans. The City of Suffolk encompasses 1,600 roadway miles for which Iteris’ ITS experts will support traffic management operations, emergency planning and operations, and the deployment of new technologies.
In support of the City of Suffolk’s goals of planning, delivering, operating and maintaining a transportation system that is safe, connected and environmentally sensitive, Iteris will identify innovative approaches and cost-effective traffic signal retiming techniques to improve safety and mobility, reduce stops and traffic congestion, and increase sustainability. By reducing delays and stops on key corridors for passenger vehicles and heavy vehicles, the City of Suffolk’s signal timing program will help to reduce CO2 emissions and fuel consumption, which in turn will contribute to environmental and air quality improvements.
“We are proud to be selected by the City of Suffolk to support another important mobility infrastructure project in the Commonwealth of Virginia,” said Jeff Gerken, regional vice president, Consulting Solutions at Iteris. “This traffic signal timing program represents the continued expansion of Iteris’ specialized consulting services in the Mid-Atlantic, and will ultimately help to increase safety and mobility for the city’s traveling public, while also improving air quality and reducing fuel consumption.”
Iteris has designed, deployed or equipped over one third of all signalized intersections in the United States, supporting local and state transportation agencies with advanced detection sensors, and traffic signal design, timing and synchronization services.
About Iteris, Inc.
Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
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 our consulting services and statements about the awarded on-call 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 successfully perform the services cost effectively; agency budgetary constraints; utilization needs of the agency for the services subject to the contract (e.g., seasonality); performance timing and cancellation of task orders; and the potential impact of product and service offerings from competitors. 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).
Tel: (949) 270-9523
Email: [email protected]
MKR Investor Relations, Inc.
Tel: (213) 277-5550
Email: [email protected]