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

  • ITS homes in on cycling safety
    April 9, 2014
    A new generation of ITS equipment is helping road authorities get to grips with cycle safety – and not a moment too soon as Colin Sowman discovers. Cyclists - remember them? Apparently not. At least not according to the OECD 2013 report Cycling, Health and Safety which contains the statement: ‘Cyclists are often forgotten in the design of the road traffic system’. Looking through the statistics that exist (each country appears to compile them differently) it is not difficult to see how such a conclusion cou
    Read More
  • Evidence growing for distance-based charging
    January 18, 2012
    The case is growing for an alternative to fuel taxation for funding highway infrastructure. A more sustainable system of mileage-based charging can be established in a way that is acceptable to the travelling public, writes Jack Opiola. Fuel tax - the lifeblood relied on for 80 years to maintain and improve roads and transit systems - is now in considerable jeopardy in the United States. Increased vehicle fuel efficiency and a poor economy already hamper generation of fuel tax revenue; now a recent federal
    Read More
  • Dutch survey shows drivers are in favour of road user charging
    January 16, 2012
    'Keep it simple, stupid' is an oft-forgotten axiom but in terms of road user charging it is entirely appropriate. So says the ANWB's Ferry Smith. A couple of decades ago, it might have been largely true that the technology aspects of advanced road infrastructure were the main obstacles to deployment. However, 20 years or more of development have led to a situation where such 'obstacles' are often no more than a political fig-leaf. Area-wide Road User Charging (RUC) is a case in point; speak candidly to syst
    Read More
  • Visteon to sell its automotive lighting business to Varroc Group of India
    March 22, 2012
    Visteon Corporation has announced that it has agreed to sell its automotive lighting business to Varroc Group, a global provider of automotive parts headquartered in India, for US$92 million in cash. The transaction, which is subject to regulatory reviews and other conditions, is expected to be completed in the third quarter of 2012. The business to be sold encompasses a wide range of exterior lighting products supplied to global vehicle manufacturers, including front and rear lighting systems, auxiliary la
    Read More

Highlighted Content