Iteris first quarter 2015 revenues up

Iteris has reported total revenues of US18.1 million for its fiscal first quarter 2015, up six per cent over the same quarter a year ago. This was primarily driven by a 20 per cent increase in roadway sensors. iPerform revenues were also up 15 per cent, while transportation systems revenues were down seven per cent, but added US$10.1 million in new contracts The increase in roadway sensors revenues was largely attributable to the success of various growth initiatives, including increases in the distribut
October 17, 2014 Read time: 2 mins
73 Iteris has reported total revenues of US18.1 million for its fiscal first quarter 2015, up six per cent over the same quarter a year ago. This was primarily driven by a 20 per cent increase in roadway sensors. iPerform revenues were also up 15 per cent, while transportation systems revenues were down seven per cent, but added US$10.1 million in new contracts

The increase in roadway sensors revenues was largely attributable to the success of various growth initiatives, including increases in the distribution of certain OEM products for the intersection market and higher unit sales of key products. iPerform revenues were primarily driven by increases in iPeMS performance measurement sales and ClearPath Weather services, which are legacy offerings in iPerform. The decline in transportation systems revenues was primarily attributed to timing delays with the start of certain new projects in the backlog, as well as a reduction in sub-consultant activity in the current quarter.

“Our first quarter fiscal 2015 results were encouraging, with double-digit growth in our roadway sensors business,” said Abbas Mohaddes, president and CEO of Iteris. “The record first quarter in roadway sensors was primarily due to strong demand for key products, including Vector, Velocity, and SmartCycle, as well as our planned increase in the sale of OEM distributed products. While our transportation systems segment was down this quarter, we entered into US$10.1 million of new transportation systems contracts in the first quarter that we expect to have a positive impact on our revenue in future quarters.

“We expect our core businesses will continue to fund our strategic investments in this exciting new marketplace, which should lead to growth in new target markets that can generate positive returns for our shareholders.”
Detection, Monitoring & Machine Vision Classification & Data Collection Urban Traffic Control

Related Content

  • February 6, 2015
    Iteris reports growth in sensors and transportation systems
    Intelligent traffic management systems supplier Iteris has reported financial results for its fiscal third quarter ended 31 December 2014, and the sixth consecutive quarter of double-digit year-over-year growth in roadway sensors revenues. Total revenues in the third quarter of fiscal 2015 increased six per cent to US$17.5 million compared to US$16.5 million in the same quarter a year ago. The increase was primarily driven by a ten per cent increase in roadway sensors and a four per cent increase in transp
    Read More
  • September 4, 2014
    Iteris reports strong 2014 growth
    Iteris has reported financial results for its fiscal fourth quarter and full year ended31 March 2014, indicating total revenues in the fourth quarter of 2014 increased 11 per cent to US$17.6 million compared to US$15.9 million in the same quarter last year. This was primarily driven by a 25 per cent increase in roadway sensors. iPerform revenues were also up 14 per cent, while transportation systems revenues were down one per cent. Total revenues in 2014 increased 11 per cent to US$68.2 million compared to
    Read More
  • July 31, 2013
    Iteris reports first quarter 2014 revenue increase
    US intelligent traffic management specialist Iteris has improved financial results for its fiscal first quarter ended 30 June 2013, with total revenues total revenues in the first quarter of fiscal 2014 increased by 4 per cent to US$17.0 million compared to US$16.3 million in the same year-ago quarter. The increase was primarily attributed to a 5 per cent increase in both roadway sensors and transportation systems revenues.
    Read More
  • August 13, 2015
    Iteris reports continued strength in transportation sector
    Iteris has reported continued growth in its transportation business and increasing momentum in the precision agriculture sector for the fiscal first quarter for year ending 31 March 2016. Revenues for roadway sensors increased ten per cent year on year to US$9.9 million, while total revenues in the first quarter of 2016 increased to US$18.4 million compared to US$18.1 million in the same quarter a year ago. This was primarily driven by a 10 per cent increase in roadway sensors sales, while transportatio
    Read More

Highlighted Content