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

  • Substantial savings from smarter street lighting
    February 25, 2015
    As authorities strive to reduce expenditure and carbon emissions, Colin Sowman looks at some of the smart ways of managing street lighting while containing costs and maintaining safety. Street lighting can account for 40% of an authority’s energy consumption. So, faced with the need to reduce outgoings, some authorities are looking for smart ways of managing street lighting or even turning off swathes of street lights in the small hours. Back in 2008 the E-street Initiative report concluded that authorities
    Read More
  • Costing transit is complicated case
    August 19, 2015
    David Crawford welcomes fresh thinking from Canada. Public transit improvements can bring society “significantly more value” than conventional transport models normally indicate, argues Canadian researcher Todd Litman. “Traditional evaluation practices originally developed to assess roadway improvements, and focus primarily on vehicle travel speeds and operating costs. “They do not generally quantify or monetise basic mobility benefits, vehicle ownership and parking cost savings, or efficient land developme
    Read More
  • Fleet management systems in Europe expected to reach 8.9 million by 2019
    November 20, 2015
    According to a new research report from the analyst firm Berg Insight, the number of active fleet management systems deployed in commercial vehicle fleets in Europe was 4.40 million in the fourth quarter of 2014. Growing at a compound annual growth rate (CAGR) of 15.1 percent, this number is expected to reach 8.90 million by 2019.
    Read More
  • Future traffic management needs new thinking, new technology
    January 23, 2012
    One of the biggest problems facing US ITS professionals, says Georgia DOT's Hugh Colton, is the constrained thinking which is sometimes forced upon those making procurement decisions. It is time, he says, to look again at how we do things. In the November/December 2010 edition of this journal, Pete Goldin interviewed Joseph Sussman, chairman of the US's ITS Program Advisory Committee. Amongst other observations that Sussman made was that, technologically, ITS in the US is 10 years behind that in the world-l
    Read More

Highlighted Content