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

  • Iteris webinar – maximise the value of NPMRDS
    December 10, 2014
    The latest webinar by Iteris, ‘MAP-21 Solutions: Leveraging NPMRDS for Performance Measurement’ on Wednesday, 17 December 17 at 11 a.m. EST will inform participants how to maximise the value of their NPMRDS data set. As MAP-21 increases requirements for performance measurement and reporting, having the tools to effectively analyse transportation system data is a must. With the availability of the National Performance Management Research Data Set (NPMRDS) from FHWA, agencies have access to Big Data for th
    Read More
  • Europe to become the fastest growing market for ADAS
    December 7, 2012
    The latest report from independent technical consultancy SBD finds that, despite their huge potential to save lives, Advanced Driver Assistance Systems (ADAS) have so far failed to contribute significantly to the drop in road fatalities, due primarily to stubbornly low penetration rates over the last decade. However, this is poised to change, as costs begin to fall, consumer interest continues to grow, and most importantly, independent vehicle safety assessor EuroNCAP includes some ADAS applications within
    Read More
  • euroFOT study demonstrates benefits of driver assistance systems
    June 26, 2012
    Today, the euroFOT consortium published the findings of a four-year study focused on the impact of driver assistance systems in the Europe. The €22 million (US$27.5 million) European Field Operational Test (euroFOT) project which began in June 2008 and involved 28 companies and organisations, was led by Aria Etemad from Ford’s European Research Centre in Aachen, Germany. The study looked at existing technologies and their potential to both enhance safety and reduce environmental impact. euroFOT also reveale
    Read More
  • Oregon tests new mileage-base charging scheme
    August 5, 2013
    Jack Opiola from D’Artagnan Consulting LLP explains Oregon’s latest moves which mandated a trial of mileage-based road use charging. In 1919, Oregon made the 20th century’s most significant contribution to transportation funding policy, becoming the first state in America to implement a gas tax to pay for roads. This summer Oregon’s Legislature passed, and Governor John Kitzhaber signed into law, Senate Bill 810 which requires a distance-based road usage charge for 5,000 volunteer vehicles by 1 July 2015. T
    Read More

Highlighted Content