Iteris Wins New $1.2 Million Contract with Illinois Department of Transportation for Traffic Design Project Management Services

Rhea-AI Summary

Iteris, Inc. (NASDAQ: ITI) has secured a multi-year contract worth $1.2 million with the Illinois Department of Transportation (IDOT) District One for traffic signal plan preparation and review projects. The contract aims to enhance the accessibility and safety of transportation systems in the Chicagoland area, which includes over 28,060 centerline miles of roads. Under the agreement, Iteris will develop plans for Accessible Pedestrian Systems and conduct reviews of existing traffic signal infrastructures. This initiative aligns with IDOT’s Long Range Transportation Plan and ADA Transition Plan, promoting innovative and sustainable transportation solutions.

Positive

• Awarded a multi-year contract worth $1.2 million to enhance traffic signal infrastructure.
• Expansion of presence in the Midwest, targeting a populous urban market.
• Supports IDOT’s Long Range Transportation Plan and ADA Transition Plan.

Negative

• None.

Multi-year contract expands company’s market penetration in key geographic market

GENEVA, Ill.--(BUSINESS WIRE)-- Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced that it has been chosen by the Illinois Department of Transportation (IDOT) District One for select traffic signal plan preparation and plan review projects.

Iteris Wins New $1.2 Million Contract with Illinois Department of Transportation for Traffic Design Project Management Services (Photo: Business Wire)

IDOT District One serves the Chicagoland area, one of the most populous urban areas in the nation. Located in northeastern Illinois, it includes 28,060 centerline miles of roads (2,775 state-maintained), serves over 650 million passengers, and is home to six counties: Cook, Lake, McHenry, Kane, DuPage, and Will.

Under the terms of the multi-year, $1.2 million contract, Iteris will provide design and review of Accessible Pedestrian Systems (APS) on numerous state-owned traffic signals. Work will include preparation of plans, special provisions, estimates of cost, and review of APS plans by others. Further efforts may consist of traffic signal design and operation review, agency coordination, catalog cut review, signing design, traffic control, ITS elements and environmental impact map preparation.

The project will support IDOT’s Long Range Transportation Plan (LRTP) as well as their ADA Transition Plan, which together seek to provide innovative, sustainable, and multimodal transportation solutions while making Illinois’ transportation systems accessible to all.

“We are thrilled to support IDOT’s goals of improving safety, mobility, and accessibility to intersections and roadways by embarking on this project,” said Cliff Heise, regional vice president, Mobility Professional Services at Iteris. “This initiative expands Iteris’ presence in the Midwest, while enhancing the effectiveness and accessibility of the region’s traffic signal infrastructure.”

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," “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 our mobility professional 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 services on a cost effective basis; agency funding and budgetary allocations and constraints; utilization needs of the agency for the services subject to the contract (e.g., seasonality); impact of adverse influences and variances of general economic, political, environmental, and other conditions; performance timing and cancellation of task orders; and the potential impact of product and service offerings from competitors. 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/20230302005123/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 Iteris's new contract with the Illinois Department of Transportation?

Iteris's new contract with the Illinois Department of Transportation is valued at $1.2 million.

What services will Iteris provide under the contract with IDOT?

Iteris will provide traffic signal plan preparation and review, specifically for Accessible Pedestrian Systems.

How does the contract benefit the Chicagoland area?

The contract aims to improve safety, mobility, and accessibility of transportation in the Chicagoland area.

When was the contract with IDOT announced?

The contract with IDOT was announced on March 2, 2023.

What is the stock symbol for Iteris, Inc.?

The stock symbol for Iteris, Inc. is ITI.