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

  • Navya hits financial difficulty
    January 31, 2023
    French court due to rule on 31 January on receivership proceedings for AV firm
    Read More
  • Joining old and new in Canada’s Highway 407
    June 17, 2016
    David Arminas visits Canada’s Highway 407 ETR to see how the concession is working and hear about new arrangements for the roadway’s extension. The Toronto region is North America’s eighth largest metropolitan area and its roads become notoriously congested. In 1997 Highway 407, a 68km concrete toll motorway which skirts the northern edge of Toronto, was opened and initially operated by the province and CHIC - a consortium of four leading Ontario-based companies. Finance came from the Ontario Financing Auth
    Read More
  • Russia to spend US$2.3 billion on developing St Petersburg Metro
    September 19, 2013
    St Petersburg, Russia anticipates a 1.5 fold increase in subway development financing in 2014, and has allocated around US$2.3 billion in its draft budget for 2014-2016. One of the deepest metro systems in the world, St Petersburg's Metro has a total length of 113.5 km and 67 stations, one of which is 86 metres below ground. Serving 2.15 million passengers daily, it is also one of the busiest metro systems in the world.
    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

Highlighted Content