Strong Demand for Iteris’ ClearMobility Platform and Successful Acquisition are Key Catalysts Behind Sustained Growth
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 named by the Orange County Business Journal (OCBJ) as one of the 10 fastest-growing mid-size public companies in Orange County, California.
The OCBJ’s annual list includes Orange County-based, publicly listed firms that reported revenue growth of more than 15% over the two-year period ended June 30, 2021. Iteris reported $123.2 million of revenue in the trailing 12 months ended June 30, 2021, representing a growth rate of 24.7% compared with the same period two years prior.
“We are pleased to be recognized by the Orange County Business Journal for Iteris’ strong financial results for the period ending June 30, 2021,” said Joe Bergera, president and CEO of Iteris. “Iteris is committed to improving the safety, sustainability and efficiency of mobility across North America and around the world. Therefore, we are delighted by the positive customer response to our ClearMobility Platform, which we continue to enhance through internal development, strategic partnerships and acquisitions, such as our recent purchase of TrafficCast International, Inc.”
Iteris recently announced its selection by the City of Orange, California for a three-year regional traffic signal synchronization project that supports the goals of the Orange County Transportation Authority’s Project P, a comprehensive transportation funding scheme under the Measure M program that aims to significantly reduce countywide travel time, fuel consumption and greenhouse gas emissions, while improving safety and mobility, and improving the overall travel experience for all road users, including vehicles, buses, bicycles and pedestrians. By reducing delays and stops on key corridors for passenger vehicles and heavy vehicles, the project will help reduce CO2 emissions and fuel consumption, which in turn contribute to environmental and air quality improvements.
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 ClearMobility platform, the awarded contract, and benefits and impacts of our solutions. 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, federal, state and local government budgetary issues, spending and scheduling changes, funding constraints and delays, including in light of the COVID-19 pandemic; impact of influences and variances of general economic, political, environment, and other conditions in the markets we address; our ability to develop, complete, introduce, market and gain broad acceptance of our new and existing product and service offerings; and the potential impact of product and service offerings from competitors and such competitors’ patent coverage and claims. 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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