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

  • ACRS calls for Australian Government to commit to eliminating road trauma
    March 28, 2017
    The Australasian College of Road Safety (ACRS) has released its 2017 ACRS Submission to Federal Parliamentarians - The way forward to reduce road trauma, outlining what it says is Australia’s stalled progress against National Road Safety Strategy 2011-2020 targets for death and injury reduction. According to ACRS, road trauma is one of the highest ranking public health issues Australia faces , with 1,300 deaths and 37,000 injuries per year, and rising. The causes and consequences of road trauma contin
    Read More
  • ITS asset management matters
    April 26, 2013
    Maintenance of on-road ITS kit needs to become more sophisticated; while new technologies can deliver better road maintenance. David Crawford investigates both sides of the issue "Good information is key to effective ITS asset maintenance,” says Ian Routledge of the Ian Routledge Consultancy (IRC), whose Imtrac (Information Management for TRAffic Control) system is poised for European expansion. Developed as an ‘intelligent filing cabinet’ for storing information about on-road equipment, the online database
    Read More
  • Audit finds red light cameras make intersections safer
    July 24, 2015
    An audit carried out by the Portland, Oregon, City Auditor’s office found that crash rates at red light camera intersections in the city were lower than before the cameras were installed and were also lower than at most dangerous intersections without cameras. The City of Portland uses 11 cameras at 10 intersections to enforce laws against red-light running and to improve safety. The Police Bureau operates the red light camera program and oversees a vendor who owns the cameras and issues citations once the
    Read More
  • Strong fourth quarter 2014 for IRD
    February 25, 2015
    International Road (IRD) has announced strong results for the three months and year ended 30 November 2014, with net earnings up 50 per cent for the year and revenue up US$1.2 million for the year on solid growth in key geographic markets and product segments. The company also reported fourth quarter gross margin percentage increases on profit gains in Latin American markets and a stable financial position with positive working capital of US$7.7 million.
    Read More

Highlighted Content