Iteris Awarded Five-Year Transportation Training Contract with National Highway Institute

Rhea-AI Summary

Iteris, Inc. (NASDAQ: ITI) has been awarded a five-year contract valued at up to $10 million by the National Highway Institute to enhance transportation safety through comprehensive training programs. The project will leverage the expertise of Iteris in modern intersection design and federal aid systems, improving the skills of transportation professionals at various government levels across the United States.

Iteris has a long-standing partnership with NHI, dating back to 2002, having developed over 20 courses and conducted more than 1,000 instructional sessions. The training will utilize best practices and real-world applications to foster safer transportation systems nationwide.

Positive

• Award of a five-year contract worth up to $10 million indicates strong business development.
• Long-standing partnership with NHI since 2002 enhances Iteris' reputation in the market.
• Expert-led training programs aim to improve transportation safety and infrastructure management.

Negative

• None.

Activities delivered under this contract will contribute to improvements in transportation safety nationwide

FAIRFAX, Va.--(BUSINESS WIRE)-- Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced the National Highway Institute (NHI) awarded Iteris a five-year contract with a value of up to $10 million to provide comprehensive training focused on transportation system safety.

The instructional team who will lead this project are experts in the fields of modern intersection roundabouts, signalized intersection guidebooks, federal aid and other areas. Iteris’ extensive experience and knowledge contributes to the education by adding real-life examples, best practices, lessons learned and classroom group activities. The instructional courses will be provided to federal, state and local transportation agencies within the United States and are a crucial component to improving the capabilities of practitioners—ultimately translating to improved transportation system safety throughout the nation. On this contract, Iteris partnered with Bloomsburie Inc., which is expected to support several activities including the development, update and delivery of instructor-led and online learning courses which will be performed individually as requested.

Iteris’ work with the NHI dates back to 2002, and over the years, the company has developed a track record of developing and delivering educational courses utilizing industry standard adult learning and instructional systems design techniques. Overall, Iteris has developed over 20 courses and delivered more than 1,000 instructional sessions for the NHI.

“Iteris is honored to continue our activities with the National Highway Institute,” said Dr. Moe Zarean, general manager, mobility operations services at Iteris. “After several years of supporting NHI training programs, we believe Iteris has developed an excellent approach in methods and practices that improve safety, mobility and sustainability of the nation’s surface transportation system.”

About Iteris, Inc.

Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility® Platform, our cloud-enabled end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. 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," “feels,” “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 the awarded contract and statements about our technical advisory and instructional services. 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 contract on a cost-effective basis; government funding and budgetary delays, constraints and issues; adverse impacts related to performance timing and cancellation of a contract or project; and adverse impacts 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).

View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005337/en/

Media Contact

Breanna Wallace

Tel: (949) 996-5348

Email: brwallace@iteris.com

Investor Relations

MKR Investor Relations, Inc.

Todd Kehrli

Tel: (213) 277-5550

Email: iti@mkr-group.com

Source: Iteris, Inc.

FAQ

What is the value of the contract awarded to Iteris by the National Highway Institute?

The contract awarded to Iteris is valued at up to $10 million.

How long is the contract with the National Highway Institute?

The contract with the National Highway Institute is for five years.

What type of training will Iteris provide under the NHI contract?

Iteris will provide comprehensive training focused on transportation system safety.

When did Iteris start its partnership with the National Highway Institute?

Iteris began its partnership with the National Highway Institute in 2002.

How many courses has Iteris developed for the National Highway Institute?

Iteris has developed over 20 courses for the National Highway Institute.