SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NYSE MKT: ITI), a leader in providing intelligent traffic management and weather information solutions, was awarded a $1.2 million task order from the National Highway Institute (NHI) to train agencies across the country with the deployment of performance-based programs that enhance infrastructure investment decisions. This three-year task order is part of the Federal Highway Administration (FHWA) Indefinite Delivery/Indefinite Quantity (IDIQ) contract awarded to Iteris in December 2013.
Under this task order, Iteris will help transportation agencies with the various elements of Moving Ahead for Progress in the 21st Century (MAP-21) requirements and assist with the implementation of performance measures into their existing planning processes. These programs assist federal, state, and local agencies to comply with MAP-21 performance management provisions.
“This new task order further reflects our position as a national leader in Transportation performance management and monitoring,” said Abbas Mohaddes, president and CEO of Iteris. “In 2011, we began the initiative to strategically improve performance monitoring and enhance the investment decision-making process. Since then, we have assisted several state DOTs and local agencies with setting targets, measuring performance, and analyzing and reporting various conditions. We plan to help the NHI reach out to even more agencies across the country and assist with the development of their performance monitoring programs. In this leadership role, we expect to be well-positioned to continue providing our suite of performance monitoring and measurement software solutions to agencies across the country.”
MAP-21 is a policy signed into law in 2012 that funds surface transportation programs with over $105 billion through May 2015. Under MAP-21, state DOTs and Metropolitan Planning Organizations are required to develop performance-based plans and programs for asset management and safety. Once MAP-21 provisions are fully implemented, FHWA will be in a better position to communicate the performance of the transportation network throughout the country and the impact of federal funds.
About Iteris, Inc.
Iteris, Inc. (NYSE MKT: ITI) is a leader in providing intelligent information solutions to the traffic management market. The company is focused on the development and application of advanced technologies and software-based information systems that reduce traffic congestion, provide measurement, management, and predictive traffic and weather analytics, and improve the safety of surface transportation systems. By combining its unique IP, products, decades of expertise in traffic management, hyper-local weather solutions and information technologies, Iteris offers a broad range of Intelligent Transportation System (ITS) solutions to customers worldwide. The firm is headquartered in Santa Ana, California, with offices nationwide and in the Middle East. For more information, please call 1-888-329-4483 or visit www.iteris.com. Also visit us on Facebook, Twitter, and YouTube.
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 our ability to provide MAP-21 compliance solutions to additional federal, state, and local agencies and successfully complete existing contracts. 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 develop, complete, roll out and enhance our suite of performance monitoring and measurement software solutions, as well as other capabilities to assist agencies to comply with MAP-21 on a timely basis; our ability to successfully anticipate the demands and requirements of the particular federal, state, or local agencies, the timing and successful completion of our deliverables under this contract; the potential unforeseen impact of product and service offerings from competitors, increased competition in certain market segments and other competitive pressures; the impact of federal, state, and local government budgetary issues, constraints and delays; the timing and amount of government funds allocated to MAP-21 compliance; and the impact of general economic, political and other 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).