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

  • US toll roads stable for 2014, says Fitch
    December 18, 2013
    Within a broader review of US transport infrastructure securities, including ports and airlines, Fitch Rating analysts say the recent slow growth in aggregate traffic is likely to continue but that many established toll roads look financially solid because of their pricing power - tolls that have been well below revenue maximising levels. Their pricing power has been somewhat reduced, Fitch says, by strong increases in toll rates on many toll roads, which mean they have less scope for big increases in to
    Read More
  • EIB agrees backing to upgrade Scotland’s core motorway network
    February 25, 2014
    The European Investment Bank (EIB) has agreed to provide a funding contribution of US$292 million towards the completion of the motorway link between Glasgow and Edinburgh. The project includes the completion of the M8 motorway between Scotland’s two largest cities and major improvements to the M73 and M74 to reduce congestion and safety and improve travel times on one of Scotland’s busiest road networks. “The European Investment Bank is committed to supporting crucial investment in essential infrast
    Read More
  • Rating agency Standard and Poor Tolling sees a bright future for tolling
    September 6, 2017
    Few disruptions appear on the horizon for global toll road operators, with the US poised to become a better bet for major investment, according to ratings agency Standard and Poor’s (S&P’s) Global Ratings’ 2017 report, which rates toll road operators according to their ability to raise capital. The outlook is generally stable for business conditions and credit quality for toll roads worldwide. One positive exception is the US where the overall outlook is ‘positive’ as S&P expects traffic growth to increase
    Read More
  • What’s right with this picture?
    September 12, 2024
    AI-driven image review is a game changer for tolling industry efficiency. Rafael Hernandez of IntelliRoad outlines the importance of partnerships with service providers
    Read More

Highlighted Content