Welcome to our dedicated page for Iteris news (Ticker: ITI), a resource for investors and traders seeking the latest updates and insights on Iteris stock.
Iteris, Inc. (ITI) delivers transformative data solutions for transportation networks and agricultural operations through advanced analytics. This news hub provides investors and industry professionals with direct access to official corporate announcements, financial updates, and operational developments.
Stay informed about ITI's latest innovations in traffic management systems, environmental sensing technologies, and farm optimization tools. Our curated collection includes earnings reports, strategic partnerships, product launches, and regulatory filings – all essential for understanding the company's market position.
Key updates cover transportation safety initiatives, precision agriculture advancements, and smart city infrastructure projects. Bookmark this page for real-time access to verified information about ITI's data-driven solutions that enhance mobility efficiency and agricultural sustainability.
Iteris, Inc. has been awarded a three-year contract by the Illinois Department of Transportation (IDOT) for traffic signal synchronization projects across four districts in Central and Southern Illinois. This initiative aims to enhance traffic flow, improve safety, and reduce CO2 emissions by optimizing traffic signal operations. The project addresses operational issues and responds to user complaints while supporting IDOT's state goals for reducing travel time and greenhouse gas emissions. This contract demonstrates ongoing demand for Iteris' specialized consulting services in a key market.
Iteris has launched ClearAsset, a smart mobility infrastructure asset management solution designed for transportation agencies. This SaaS solution enhances the management of intelligent transportation systems (ITS) by allowing agencies to track inventory, conduct lifecycle analysis, and monitor performance. ClearAsset aims to improve device uptime and overall operations for traffic signals and highway ITS. The service can be utilized directly by agencies or through Iteris’ managed service, offering 24/7 support and integration with other smart mobility solutions.
Iteris, Inc. (NASDAQ: ITI) reports a 14% year-over-year revenue increase in Q3 fiscal 2022, totaling $32.0 million. Service revenue surged 37% to $16.1 million, aided by the ClearMobility™ Platform. However, product revenue dipped 3% to $15.9 million due to supply chain delays. Total net bookings reached a record $40.9 million, a 99% increase, leading to a backlog of $92.3 million, up 20%. Despite the positive revenue growth, the company faced a GAAP net loss of $2.4 million, or $(0.06) per share. Full-year revenue guidance has been revised to $134-$136 million, projecting 14%-16% growth.
Iteris (NASDAQ: ITI) will host a conference call on February 3, 2022, at 4:30 p.m. Eastern time to discuss its financial results for the fiscal third quarter ended December 31, 2021. The results will be announced prior to the call. President and CEO Joe Bergera and CFO Douglas Groves will lead the discussion, which includes a Q&A session with analysts. Interested participants can join via toll-free and international dial-in numbers, with a replay available until February 10, 2022.
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Iteris has been chosen by the Florida Department of Transportation (FDOT) for a four-year project to develop a connected vehicle data exchange platform. This initiative aims to improve real-time travel information dissemination to the public and various stakeholders while enhancing the state's readiness for connected and automated vehicle technologies. The project, among the first of its kind in the U.S., will facilitate the collection and analysis of data from multiple vehicle and infrastructure sources to optimize road safety and efficiency.
Iteris, Inc. (NASDAQ: ITI) announced their participation in the 24th Annual Needham Virtual Growth Conference on January 12. The presentation will be made by Joe Bergera, President and CEO, and Douglas Groves, CFO, at 2:00 p.m. ET. They will also engage in virtual one-on-one meetings with investors throughout the day. The presentation will be streamed live and available for replay on the company’s investor relations website. Interested parties can contact MKR Investor Relations for meeting scheduling.