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

  • Call for a new vision for ITS in America
    February 1, 2012
    An ITIF report published at the beginning of this year stated that America is falling behind other developed nations in terms of ITS technologies and their deployment to address safety, congestion and environmental challenges. The report asked for a stronger commitment from the US federal government (see 'Just crawling along', interview with senior ITIF analyst Stephen Ezell, ITS International March-April 2010, pp.NA1-NA2) in order to address what it sees as increasing disparities with other countries. The
    Read More
  • Call for a new vision for ITS in America
    February 6, 2012
    Pete Goldin talks to Dr. Joseph Sussman, Chairman of the ITS Program Advisory Committee, about the state of intelligent transport systems in America
    Read More
  • ITS needs continuity at the policy-making level
    February 1, 2012
    ITS needs to be sold to politicians in plainer terms and we need to be encouraging greater continuity at the policy-making level says Josef Czako, chairman of the IRF's Policy Committee on ITS. At the ITS World Congress in New York in 2008, the International Road Federation (IRF) held the inaugural meeting of its Policy Committee on ITS. The Policy Committee's formation, says its chairman, Kapsch's Josef Czako, reflects an ongoing concern over the lack of deployment of ITS technology on roads in anything li
    Read More
  • ‘Need for sustainable transportation infrastructure drives the ITS market’
    October 30, 2012
    According to a new report by Global Industry Analysts (GIA), the global Intelligent Transportation Systems market is projected to reach US$22.7 billion by the year 2018, driven primarily by the need to enhance road safety by efficiently managing traffic, enforcing speed limits and easing traffic congestion. Rising demand from developing nations to incorporate ITS solutions also bodes well for the future of the market. The report provides a comprehensive review of trends, product developments, mergers, acqu
    Read More

Highlighted Content