Iteris, Inc. - ITI STOCK NEWS

Iteris, Inc. (NASDAQ: ITI) has been selected by the City of Lake Forest, California for a multi-year smart mobility program aimed at reducing congestion and enhancing safety. This significant contract involves the delivery of Congestion Management for Arterials services, leveraging Iteris' cloud-enabled managed services and ClearGuide™ software solutions. The project aims to analyze traffic trends, identify infrastructure improvements, and optimize signal timing across the city.

Iteris, Inc. (NASDAQ: ITI) will host a conference call on August 5, 2021, at 4:30 p.m. ET, to discuss its fiscal Q1 results ended June 30, 2021. The financial results will precede the call in a press release. The event will be led by CEO Joe Bergera and CFO Douglas Groves, followed by a Q&A session. Interested parties can join via a toll-free number or through a live webcast on the company's investor relations page. A replay will be available after the call until August 12, 2021.

Iteris (NASDAQ: ITI) announced two contracts valued at $1.5 million with the Los Angeles County Metropolitan Transportation Authority for smart mobility planning services. These contracts will focus on converting high-occupancy vehicle lanes to high-occupancy toll lanes on major freeways, specifically the I-405 and I-10. The initiative aims to alleviate congestion, enhance traffic efficiency, and serve approximately 600,000 daily users across over 25 miles of freeway. The project highlights the growing demand for Iteris’ expertise in smart mobility solutions.

Iteris, Inc (NASDAQ: ITI) has secured two additional contracts from the Utah Department of Transportation (UDOT) worth over $2.7 million, reflecting the growing demand for its smart mobility solutions. These contracts will enhance safety compliance for commercial motor carriers and improve transportation analytics through Iteris' SaaS offerings, including CVIEWplus™ and ClearGuide™. The collaboration also extends UDOT's access to real-time data for traffic monitoring, emphasizing Iteris' commitment to advancing transportation infrastructure in the western U.S.

Iteris, Inc. (NASDAQ: ITI) reported strong fiscal fourth quarter and full year 2021 results. Total revenue reached a record $31.7 million, a 10% increase year over year, contributing to an overall annual revenue of $117.1 million, up 9%. The company achieved a net income of $0.5 million for the year, an improvement from a loss of $1.8 million the previous year. Despite a GAAP net loss of $0.4 million for Q4, the ending backlog grew to $78 million, up 26%. For fiscal 2022, management projects revenue between $132 million and $142 million, indicating potential growth of up to 22%.

Iteris, Inc. (NASDAQ: ITI), a leader in smart mobility infrastructure management, announced participation in the Stifel 2021 Virtual Cross Sector Insight Investor Conference on June 8, 2021. President and CEO Joe Bergera and CFO Douglas Groves will conduct virtual meetings with investors throughout the event. For further details or to arrange a meeting with Iteris management, stakeholders are encouraged to reach out to their Stifel representative or contact MKR Investor Relations at ITI@mkr-group.com.

Iteris, Inc. (NASDAQ: ITI), a leader in smart mobility infrastructure management, will participate in the 18th Annual Craig-Hallum Institutional Investor Virtual Conference on June 2, 2021. President and CEO Joe Bergera and CFO Douglas Groves will conduct virtual meetings with investors throughout the day. Interested parties can arrange meetings through Craig-Hallum or Iteris' investor relations firm, MKR Investor Relations, via ITI@mkr-group.com. For more details on the company’s initiatives, visit www.iteris.com.

Iteris, Inc. (NASDAQ: ITI) will hold a conference call on June 1, 2021, at 4:30 p.m. ET to discuss its financial results for the fourth quarter and full year ending March 31, 2021. This follow-up call will be hosted by Joe Bergera, president and CEO, and Douglas Groves, CFO. Investors can dial in 5-10 minutes early using the toll-free number +1 800-367-2403. A replay will be available post-call until June 8, 2021. Iteris specializes in smart mobility infrastructure management, utilizing advanced technologies for sustainable mobility solutions.

Iteris, Inc. (NASDAQ: ITI) has secured a three-year contract valued at up to $1.1 million from the City of San Antonio for traffic signal optimization. This agreement underscores the company's growing footprint in Texas, which is a strategic market for Iteris, as evidenced by seven major contracts awarded in recent years. The project involves enhancing traffic signal timing at over 1,400 intersections in San Antonio, demonstrating Iteris' expertise in smart mobility infrastructure management.