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

  • Will the European Electronic Tolling System serve its purpose?
    February 3, 2012
    ASECAP's Kallistratos Dionelis asks whether, despite the best intentions at the policy level, the European Electronic Tolling System can ever hope to serve the customer in the way it is intended to. Reality doesn't just happen. In many ways, reality is created. We first create or produce a reality and then we consume it; this takes time and has a cost that needs to be covered.
    Read More
  • Jenoptik appoints new chairman
    December 15, 2016
    The Supervisory Board of Jenoptik has appointed Dr Stefan Traeger as future chairman of the company’s Executive Board for a term of three years. Traeger, currently a member of the Management Board of the Swiss Tecan Group, will succeed Dr Michael Mertin and is expected to take over his post in the second quarter of 2017. Traeger will manage the Jenoptik Group together with Hans-Dieter Schumacher, who has been chief financial officer of Jenoptik since April 2015.
    Read More
  • Hard shoulder running aids uniform traffic flow and safer driving
    January 23, 2012
    David Crawford detects a market for European experience. Well-established now in at least three European countries, Hard Shoulder Running (HSR) on motorways is exciting growing interest in the US. A November 2010 Report to Congress by the Federal Highway Administration (FHWA), on the Efficient Use of Highway Capacity, notes the role of HSR in the European-style Active Traffic Management (ATM) strategies now being recommended for implementation in the US where, until recently, they were virtually unknown.
    Read More
  • EU defines and limits scope of tolling concessions
    September 16, 2014
    New regulations are set to standardise the process of awarding concessions across the European Union. In the wake of several inconsistent judgements at the European Court of Justice, the European Commission has approved new legislation that defines a concession. The basic demarcation from a public contract remains the same in that concessions include the right to exploit the work or services provided instead of payment. However, at the point of signing, the regulations impose an all-inclusive threshold of €
    Read More

Highlighted Content