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

For more information on companies in this article

Related Content

  • GHSA laments ‘staggering’ trend in US pedestrian deaths
    March 14, 2025
    Drivers killed 3,304 pedestrians in the first half of 2024
    Read More
  • US MAP-21 legislation reignites detection sensor market
    November 2, 2012
    The latest study by IHS Research estimates detection sensor revenues declined by 4.3 percent in 2011 to US$102.2 million. However, recent events suggest demand for detection sensors, which are used to help optimise traffic flows and reduce roadway congestion, is likely to improve over the near term. The main cause for optimism is the recent and unexpected passage of the MAP-21 act by the US congress. MAP-21 legislation will set aside US$105 billion for improvements to America’s surface transportation infras
    Read More
  • Iteris partners with Here on advanced traffic data and analytics
    June 18, 2014
    Iteris has been selected, along with Here, to compete with a small group of other companies to provide traffic data and analytics for the I-95 Corridor Coalition, which stretches nearly 2,000 miles from Maine to Florida. Iteris will work in partnership with Here to deliver advanced traffic analytics to support the Coalition, allowing decision-makers to closely monitor traffic and weather conditions, measure performance, optimise operations, and communicate actionable information to traffic engineers.
    Read More
  • London tops global congestion ranking, says report
    March 15, 2016
    The Inrix Traffic Scorecard 2015, which measures progress in improving urban mobility, reveals strong economic growth and record population levels resulting in London becoming the first city to surpass 100 hours wasted per driver in gridlock. The report analysed traffic congestion in more than 100 cities worldwide. London topped the list, with drivers wasting an average of 101 hours, or more than four days, in gridlock in 2015. Across the UK, drivers spent 30 hours on average in delays last year, consist
    Read More

Highlighted Content