Iteris reports preliminary summary financial results for fiscal 2014

Pending completion of its fiscal 2014 audit, Iteris has reported preliminary condensed consolidated financial results for the fiscal year ended 31 March 2014, to provide investors with insight into the company’s performance. Total unaudited revenue for the year was in the range US$67.2 million to US$68 million, compared to audited revenue in 2013 of US$61.6 million. Net income was between US$0.5 million and US$1.5 million, compared to US2.3 million in 2013. Net income in fiscal 2014 and 2013 includes an
July 17, 2014 Read time: 1 min

Pending completion of its fiscal 2014 audit, 73 Iteris has reported preliminary condensed consolidated financial results for the fiscal year ended 31 March 2014, to provide investors with insight into the company’s performance.

Total unaudited revenue for the year was in the range US$67.2 million to US$68 million, compared to audited revenue in 2013 of US$61.6 million. Net income was between US$0.5 million and US$1.5 million, compared to US2.3 million in 2013.  Net income in fiscal 2014 and 2013 includes an approximate US$0.1 million and US$1.5 million gain on the sale of discontinued operation, net of tax, respectively.

Abbas Mohaddes, the company’s CEO noted, “2014 was another profitable year with strong revenue growth and a growing cash balance. In addition, our business and its prospects remain strong. We are continuing to focus on completing our fiscal 2014 audit.”

Detection, Monitoring & Machine Vision Classification & Data Collection Urban Traffic Control

For more information on companies in this article

Related Content

  • Iteris releases Abacus 2.0
    January 23, 2012
    Iteris has introduced Abacus 2.0, its next-generation traffic incident detection and data collection product. It provides traffic engineers and departments of transportation a software-based 'force multiplier' that leverages existing camera systems to collect real-time traffic data, rapidly identify incidents, and gain enhanced traffic flow information in a ready-to-use graphical user interface format.
    Read More
  • ITS market size ‘to reach US$38.68 billion by 2020’
    December 21, 2015
    The global ITS market is expected to reach US$38.68 billion by 2020, according to a new study by Grand View Research. Increasing demand for alleviating traffic congestion and growing need for enhancing existing transportation networks is expected to drive demand over the forecast period. Growing urban population and increased fund allotment by various governments across the globe is driving need for advanced transportation network. This is estimated to be fulfilled by proper use of wireless communication
    Read More
  • Multi-modal transport system key to liveable city development
    June 20, 2012
    Malaysia’s Economic Transformation Programme aims to transform Kuala Lumpur into one of the world’s most liveable cities. Mohd Nur Kamal, CEO of SPAD, Malaysia’s Land Transport Commission, explains how a world class multi-modal transport system will be key to reaching that goal Superficially, Kuala Lumpur, or KL as it is commonly known, is the model of a vibrant, modern, cosmopolitan city to equal any in the world. The Petronas Twin Towers, an iconic global symbol of Malaysia, are surrounded by stunningly
    Read More
  • Iteris expands video detection product offering
    January 15, 2013
    Realising that rising fuel costs lead to more commuters taking to the streets on bicycles, creating an increased need for accurate bicycle detection at intersections, US traffic management information solutions provider Iteris has launched SmartCycle, a new product addition to its Vantage video detection product suite. According to Iteris, an intersection configured with SmartCycle can effectively differentiate between bicycles and other vehicles, enabling more efficient signalised intersections and maximis
    Read More

Highlighted Content