Iteris Chosen by Port of Long Beach to Complete a Multimodal Transportation Study

Rhea-AI Summary

Iteris, Inc. (NASDAQ: ITI) has been awarded a $900,000 contract by the Port of Long Beach for an 18-month multimodal transportation study. The study aims to enhance safety and efficiency for various transportation modes, including trucks, rail, transit, bicyclists, and pedestrians, within the Port. Iteris will lead a team of partner firms to provide comprehensive services and coordinate future Port development and infrastructure improvements.

The study will coordinate future Port improvements and improve safety and efficiency for all transportation modes

SANTA ANA, Calif.--(BUSINESS WIRE)-- Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced it has been awarded a $900,000 contract by the Port of Long Beach for an 18-month multimodal transportation study.

Iteris Chosen by Port of Long Beach to Complete a Multimodal Transportation Study (Photo: Business Wire)

The project will identify how best to accommodate cargo movement within the Port to enhance safety and efficiency for various transportation modes, including trucks, rail, transit, bicyclists, and pedestrians. It will also coordinate future Port development and infrastructure improvements. Iteris is leading a team of partner firms, including HDR Inc., System Metrics Group, Raju Associates, and Valerie Martinez Associates Communications, Inc., to provide comprehensive services.

The multimodal transportation study, which aims to advance the goals identified in the Port’s strategic plan, will identify strategies and recommendations to optimize the operations of the Port’s transportation system for its users and Port stakeholders.

The Port of Long Beach is a primary Unites States gateway for trans-Pacific trade and a trailblazer in innovative goods movement, safety, environmental stewardship and sustainability. Voted “Best West Coast Seaport” by industry peers, the Port handles trade valued at $200 billion annually and supports 2.6 million jobs across the nation and more than 575,000 in Southern California alone.

Iteris has provided trusted consulting services to the Port of Long Beach for over 20 years in various capacities. Most recently in 2023 Iteris assisted in a successful grant application to the Maritime Administration’s Port Infrastructure Development Program, which awarded $52.6 million to modernize critical on-dock rail capabilities and improve several key roadways aimed at speeding the flow of cargo through the Port of Long Beach.

“We’re proud to be a part of this essential project for the Port of Long Beach,” said Steven Bradley, regional vice president, mobility professional services at Iteris. “Their mission to enhance productivity and efficiency in goods movement and improve the environment through sustainable practices aligns perfectly with Iteris’ goals. We’re excited to work on this study to increase efficiency and sustainability.”

About Iteris, Inc.

Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility® Platform, our AI-powered 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," “feels,” "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “could,” “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 impacts and benefits of our consulting 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 deliver our services in a cost-efficient manner; government funding and budgetary issues and delays; project performance timing; impact of influences and variances of general economic, political, environment, and other conditions in the markets we address; and the potential impact of product and service offerings from competitors and other competitive pressures. 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/20240416308921/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: todd@mkrir.com

Source: Iteris, Inc.

FAQ

What contract was awarded to Iteris by the Port of Long Beach?

Iteris, Inc. (NASDAQ: ITI) was awarded a $900,000 contract by the Port of Long Beach for an 18-month multimodal transportation study.

What is the aim of the multimodal transportation study?

The study aims to enhance safety and efficiency for various transportation modes, including trucks, rail, transit, bicyclists, and pedestrians, within the Port.

Who will lead the team of partner firms for the study?

Iteris will lead a team of partner firms, including HDR Inc., System Metrics Group, Raju Associates, and Valerie Martinez Associates Communications, Inc., to provide comprehensive services.

What recent grant application did Iteris assist the Port of Long Beach with?

In 2023, Iteris assisted the Port of Long Beach in a successful grant application to the Maritime Administration’s Port Infrastructure Development Program, which awarded $52.6 million to modernize critical on-dock rail capabilities and improve key roadways.

What is Iteris' role in the project?

Iteris aims to increase efficiency and sustainability in goods movement and improve the environment through sustainable practices in collaboration with the Port of Long Beach.