Iteris, Inc. - ITI STOCK NEWS

Iteris, Inc. (NASDAQ: ITI) announced its acquisition of TrafficCast International for $16 million in cash, plus a $1 million earn-out based on revenue targets. TrafficCast, which generated $14.6 million in revenue for the trailing 12 months, specializes in travel information technology for both commercial and public sector clients. The acquisition strengthens Iteris' position in smart mobility infrastructure, aligning with its ClearMobility™ Platform. Management expressed optimism about future growth opportunities and acquisition strategies following the deal.

Iteris, Inc. (NASDAQ: ITI), a leader in smart mobility infrastructure management, will present at the Northland IoT, AI and Safety Virtual Technology Conference on December 7. CEO Joe Bergera and CFO Douglas Groves are scheduled to speak at 2:30 p.m. ET. They will also engage in one-on-one virtual meetings during the event. Interested attendees can register here for the live webcast, which will also be available for replay on the company's investor relations website.

Iteris, Inc. (NASDAQ: ITI) has secured a four-year, on-call professional services contract worth up to $8 million from the Hillsborough County Board of County Commissioners. This initiative focuses on smart mobility and safety, highlighting the demand for Iteris’ consulting and SaaS solutions. Services will include traffic signal management and operations support, utilizing the upgraded ClearGuide mobility intelligence platform. The program aims to enhance travel efficiency and safety in Hillsborough County, benefiting communities such as Tampa and Plant City.

Iteris, Inc. (NASDAQ: ITI), a leader in smart mobility infrastructure management, will participate in the Craig-Hallum 11th Annual Alpha Select Virtual Conference on November 17, 2020. President and CEO Joe Bergera, along with CFO Douglas Groves, will conduct virtual meetings with investors throughout the event. Those interested in scheduling a meeting can contact Craig-Hallum representatives or MKR Investor Relations at ITI@mkr-group.com. Iteris focuses on utilizing advanced technology to enhance road safety and travel efficiency.

Iteris, Inc. (NASDAQ: ITI) reported a strong fiscal Q2 2021, with total revenue rising 10% year over year to $29.3 million, driven by a 14% increase in Roadway Sensors and a 7% rise in Transportation Systems. The company achieved net bookings of $34.5 million, up 6% year over year, reflecting strong market demand. GAAP net income from continuing operations improved to $0.7 million, or $0.02 per diluted share. Adjusted EBITDA also rose to $2.0 million, marking a significant year-over-year increase. Despite economic challenges, Iteris is positioned for long-term growth.

Iteris, Inc. (NASDAQ: ITI) has secured a five-year, $5 million professional services contract from the Florida Department of Transportation (FDOT) for a regional traffic signal retiming program. This project involves enhancements at over 1,100 intersections in Tampa, which represents about 20% of Florida's total signalized intersections. The main objectives are to improve traffic flow, safety, and reduce stops through optimized signal coordination and timing plans. Iteris is set to begin the project immediately, reinforcing its position in the smart mobility sector.

Iteris, Inc. (NASDAQ: ITI) has announced a conference call scheduled for November 4, 2020, at 4:30 p.m. ET to discuss its financial results for the fiscal second quarter ended September 30, 2020. The results will precede the call, which will be hosted by CEO Joe Bergera and CFO Douglas Groves. Investors can join the call via toll-free and international dial-in numbers provided. A replay will be available until November 11, 2020. For more details, visit the investor relations section on Iteris’ website.

Iteris (NASDAQ: ITI) has secured a $6.9 million contract from the Metropolitan Transportation Commission (MTC) for operational services at two Bay Area operations centers. This three-year agreement includes options for an additional four years and focuses on staffing and management for the 511 Operations Center in Oakland and the Regional Operations Center in San Francisco. The centers aim to enhance traffic information dissemination and congestion management, supporting over 63 million interactions through Iteris's ClearMobility™ Platform in the past year.

Iteris (NASDAQ: ITI) announced a $4.7 million contract with the Orange County Transportation Authority (OCTA) for a traffic signal synchronization project. The three-year initiative aims to enhance traffic flow, public safety, and reduce stops through improved signal coordination across key intersections along Katella Avenue, spanning eight cities in Orange County, California. The project leverages Iteris' Intersection-as-a-Service™ and ClearMobility™ Platform for proactive monitoring and optimized traffic management. Services begin immediately, building on a previous $3.6 million contract awarded in January 2020.