SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced a $934,000 contract award for design services from AC Transit for a corridor travel time improvement project. The project includes the implementation of transit signal priority (TSP), bus stop improvements, real-time passenger information system, and deployment of an Adaptive Signal Control Technology system.
This contract continues Iteris’ involvement on AC Transit’s popular Line 97, which spans 12.5 miles along a number of major corridors in the San Francisco Bay Area. The design phase of the project is underway with deployment anticipated in 2018. Transit Signal Priority is a highly effective tool to reduce delay and improve schedule reliability for transit operations. Currently the service time for this route is 134 minutes. Once the project improvements are fully deployed, a roundtrip travel time is expected to be reduced by as much as 15%.
“This project will improve transit operations and the overall transit customer experience by reducing traffic congestion and improving intersection efficiencies along Line 97,” stated Ramin Massoumi, general manager and senior vice president of Transportation Systems at Iteris. “Upgrading the corridor transportation technology infrastructure will produce cascading benefits that include improvements to signal operations, resulting in reduced fuel consumption and vehicle emissions, ridership growth through improved schedule reliability, and improved air quality. These benefits and goals are consistent with AC Transit’s strategy to maximize operational benefit and efficiency and achieve the San Francisco Bay area’s Transit Sustainability Project performance metrics.”
Iteris has provided transit signal operations for over 30 agencies covering more than 1,000 intersections nationwide. The company is currently involved in similar transit projects in Los Angeles, Chicago, Minneapolis, and Orange County, California.
About Iteris, Inc.
Iteris is the global leader in applied informatics for transportation and agriculture, turning big data into big breakthrough solutions. We collect, aggregate and analyze data on traffic, roads, weather, water, soil and crops to generate precise informatics that lead to safer transportation and smarter farming. Municipalities, government agencies, crop science companies, farmers and agronomists around the world use our solutions to make roads safer and travel more efficient, as well as farmlands more sustainable, healthy and productive. Visit www.iteris.com for more information.
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," “outlooks,” “target,” "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 and benefits of our services and impact the project will have on transit operations. 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 carryout and complete the project; expectations and impact on transit operations upon project completion; government funding and budgetary issues, and potential related funding delays; the impact of general economic, political, and other conditions in the markets we address; 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).