Management changes at Iteris

Iteris has announced that it will require additional time to complete its audit for the fiscal year ended 31 March 2014, primarily due to the time necessary to complete the review of certain complex, multi-element contracts, but the company is continuing to work with its auditors to complete the fiscal 2014 audit but. The company may have a material weakness in its internal controls over financial reporting related to certain of these multi-element contracts, but the company has not yet completed its fin
July 16, 2014 Read time: 2 mins
73 Iteris has announced that it will require additional time to complete its audit for the fiscal year ended 31 March 2014, primarily due to the time necessary to complete the review of certain complex, multi-element contracts, but the company is continuing to work with its auditors to complete the fiscal 2014 audit but.


The company may have a material weakness in its internal controls over financial reporting related to certain of these multi-element contracts, but the company has not yet completed its final evaluation in this regard. Upon conclusion of the fiscal 2014 audit, Iteris will announce a new date for its conference call to discuss its fourth quarter and full year 2014 results.

The company has also announced that Craig Christensen has agreed to assume the role of interim chief financial officer, following the resignation of vice president of finance and chief financial officer Chuck McBride, effective 11 July 2014.

McBride served as the company’s CFO for seven months, from his original appointment in December 2013. Christensen has been the company’s vice president and controller since April 2012. In his roles of increasing responsibility with Iteris, he has become closely involved with all of the company’s accounting procedures.

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

For more information on companies in this article

Related Content

  • A need for order in evolution
    February 27, 2012
    The hit film Jurassic Park took its name from one of the several geological periods or epochs (as they are also known) in which dinosaurs were the dominant land-dwellers.
    Read More
  • Transportation hub the centre of sustainable urban development
    November 21, 2012
    A marriage of transit, technology and culture is taking shape in Minneapolis, with ITS systems vital to hopes for a sustainable development centred on a hub of public transportation. Construction started in July this year on ‘The Interchange’ – a station in the Midwest US city of Minneapolis claimed as the most spectacular expression yet of the fast-spreading North American concept of transit-oriented development (TOD). Due for completion in 2014, the Interchange is designed as a multi-modal public transpor
    Read More
  • M&A in ITS: upward mobility
    February 17, 2021
    2021 has kicked off with a flurry of M&A activity. Adam Hill asks the bosses of IRD and Iteris what we should make of their new purchases – and finds out why the whole process is a bit like dancing…
    Read More
  • Counting the environmental costs of ITS deployment
    October 29, 2015
    David Crawford looks at the latest thinking about calculating the benefits associated with the environmental side of ITS schemes. The penny is dropping that some environmental costs “are being shifted outside the traditional bounds of evaluation methods” for ITS-based road transport projects, according to researchers at the UK University of Leeds’ Institute for Transport Studies.
    Read More

Highlighted Content