SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NYSE MKT: ITI), a leader in providing information solutions to the transportation and agriculture markets, has been awarded a $2.1 million traffic signal synchronization project by the Orange County Transportation Authority (OCTA). The project includes upgrades to traffic signal infrastructure and signal timing improvements along an eight-mile stretch of a major corridor spanning three cities: Santa Ana, Costa Mesa, and Newport Beach.
Under the project agreement, Iteris will design and implement traffic signal electronics and fiber-optic communications equipment, and will synchronize all 45 traffic lights along the entire Bristol Street corridor. Bristol Street is a major north-south arterial that is used by travelers and commuters, and also serves as the main access road to South Coast Plaza, the largest mall by size on the West Coast. The primary goal of the project is to improve traffic flow and safety for all users including vehicles, buses, bicycles, and pedestrians.
“This project continues OCTA’s goal of sycnchronizing traffic signals countywide for enhanced travel,” said Ramin Massoumi, senior vice president of transportation systems at Iteris. “We believe signal coordination is the foundation for better travel as it provides a wide range of benefits, from improving safety and reducing delays to improving air quality and reducing fuel consumption. It also represents a significant step in increasing the value and effectiveness of our existing transportation infrastructure. OCTA continues to measure the performance of county corridors and proactively manages conditions for a better travel experience, and we look forward to our continued relationship with them.”
Iteris expects to commence the traffic signal synchronization project immediately.
About Iteris, Inc.
Iteris, Inc. (NYSE MKT: ITI) is a leader in providing information solutions to the transportation and agriculture markets. We are focused on providing this information to practitioners in these markets to improve their effectiveness and efficiency. By combining our expertise, unique IP, and information infrastructure in a suite of products and services, Iteris offers a broad range of solutions to both domestic and international customers. The firm is headquartered in Santa Ana, California, with offices throughout the U.S. and in select locations internationally. For more information, please visit www.iteris.com or call 1-888-329-4483. Also visit us on LinkedIn, 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 the timing, success, and benefits of the project and the performance and utility of our products and 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, our ability to successfully complete each phase of the project; the potential impact of product and service offerings from competitors and other competitive pressures; government funding and budgetary issues, and potential related funding delays; 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).