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

  • US eyes European model for Illinois toll road upgrade
    May 30, 2014
    David Crawford welcomes the adoption of European-style ITS technology by the US. The Jane Addams Memorial Tollway in Illinois, US is well on the way towards becoming a ‘smart traffic corridor’, taking full advantage of active traffic management (ATM or ‘managed lanes’) technology that originated in Europe. It is one of the first American toll roads to do so; preliminary work began in 2014 and will continue through to 2016. Jane Addams is one of four toll roads operated by the publicly-owned Illinois State T
    Read More
  • Making ITS connections requires leadership
    January 23, 2020
    From making the commute more bearable to saving the planet, Jim Alfred of BlackBerry Certicom believes that ITS has the capacity to drive a range of transformational opportunities – but leadership is required, he warns
    Read More
  • Latest A9 speed camera report ‘shows improvement in driver behaviour’
    July 28, 2015
    The latest performance data for A9 speed camera system has been published by Transport Scotland on behalf of the A9 Safety Group, covering the period May 2015 to July 2015 (incidents are quarter two April to June) as an overall assessment of the performance of the route. The report incorporates the first information in relation to collision and casualty figures covering the period from October 2014 to March 2015, which are reported against the average of the equivalent months in the preceding three year
    Read More
  • Automating enforcement of environmental zones
    July 27, 2012
    Amsterdam City Council has chosen to move away from manual enforcement of its environmental zone, which is intended to keep highly polluting goods vehicles out of the city centre, and is installing an automated, ANPR-based system. The signs are not much to look at: white with a red circle and the all-important word Milieuzone ('Environmental zone'). But these signs mean that Amsterdam's city centre is strictly off-limits to polluting goods traffic. At the moment compliance is monitored by special wardens wh
    Read More

Highlighted Content