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

  • Europe’s satellite projects ‘late and over budget’
    February 3, 2016
    The French court of Auditors has found that the European satellite navigation programmes, Galileo and EGNOS (the European Geostationary Navigation Overlay Service), the European satellite navigation programmes, will cost the EU more than US$14 billion over the period 1994-2020, says Euractiv. The delayed projects were originally allocated a budget of US$5 billion, according to the auditors. Galileo will cost a total of US$11 billion. Half of this amount had already been spent by the end of 2013. The C
    Read More
  • Avoiding the call of the wild
    June 29, 2018
    Hitting an animal on a rural road can be fatal for all parties involved – but detecting and avoiding them requires clever technology. Andrew Williams carefully scans the horizon for details. Wildlife-vehicle collisions are an ever-present threat in rural areas around the world, and there is certainly nothing funny about suddenly finding an angry moose in your headlights on a sharp bend. A variety of detection and avoidance systems are currently in use or under development to help prevent your vehicle being
    Read More
  • Polis 2013 conference calls for greater coordination of EU policies
    December 10, 2013
    Mobility professionals from across Europe have called for greater coordination of European policies that affect urban and regional transport. Speaking at the 2013 Polis conference, new president Javier Rubio de Urquía said, "We need coordination between European environment, climate, research, energy and transport policies as these have a direct impact on urban and regional transport. This is required to deliver the best sustainable urban and regional transport systems in Madrid as well as anywhere else
    Read More
  • Cost benefit: Toronto retimings tame traffic trauma
    July 11, 2018
    Canada’s largest city reckons that it is saving its taxpayers’ money simply by altering the way traffic lights work. David Crawford reviews Toronto’s ambitious plans to ease congestion. Toronto, Canada’s largest metropolis (and the fourth largest in North America), has saved its residents CAN$53 (US$42.4) for every CAN$1 (US$0.80) spent over a 2012-2016 traffic signal retiming programme, according to figures released by its Transportation Services Division. The programme covered 1,275 signals (the city’s to
    Read More

Highlighted Content