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

  • How Covid has impacted transportation
    May 2, 2022
    How have Covid-induced changes in transportation impacted health? And how can transport companies mitigate these effects? Soheil Sohrabi of S-Plus-M and Texas A&M University explains
    Read More
  • Connected vehicles, connected systems equals next generation ITS
    July 17, 2012
    Iteris has been awarded a new contract to lead a team working to update and support the United States’ National ITS Architecture. Pete Goldin reports on this latest initiative to help all US agencies’ development and application of ITS systems The United States Department of Transportation has a set of standards safeguarded for ITS for the US, with a vision for the future of transportation technology called the National ITS Architecture. This may sound like a secret plan kept in a vault somewhere, but the
    Read More
  • US motor vehicle deaths drop slightly in first half of 2017, but remain higher than two years ago
    August 17, 2017
    Preliminary estimates from the National Safety Council indicate motor vehicle deaths in the first six months of 2017 are one per cent lower than they were during the same six-month period in 2016. However, it says the country is fresh off the steepest estimated two-year increase in motor vehicle deaths since 1964 and it is too early to conclude whether the upward trend is over. The estimated deaths during the first six months of 2017 still are eight per cent higher than the 2015 six-month estimates, and the
    Read More
  • Cold efficiency
    July 24, 2012
    Tools to support operational decisions in winter maintenance can remove subjectivity and increase efficiency; Vaisala's Danny Johns talks about latest developments Even the presence of trees at the roadside can have an effect on temperature An effective Road Weather Information System (RWIS) network can save a local road authority or jurisdiction tens of thousands of dollars or Euros'-worth of labour and consumables in a single night. Get those winter maintenance operations right over just three or four nig
    Read More

Highlighted Content