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

Related Content

  • July 16, 2015
    IRD announces continued growth in second quarter 2015
    International Road Dynamics has announced solid growth in the three and six months ended 31 May 2015, with increased revenue on strong growth in key geographic markets and product segments For the three and six months ended 31 May, consolidated revenue increased 12.2 per cent and 8.1 per cent respectively, compared to the same period s in 2014, due primarily to continued growth in the Company's Canada, United States, Latin America and Mexico markets, as well as an increase in the value of the US dollar.
    Read More
  • January 23, 2012
    Tunnel simulators vital for real world tunnel management
    Guillaume Ponsar, tunnel safety engineer with Egis Road Operation, writes about the advantages to be gained from the use of tunnel simulators. Major tunnel disasters over the last decade and more have shown how swiftly and badly a simple crash or fire may evolve should the wrong actions be taken by control room operators or traffic managers. Global safety issues and the reactions of operations staff have now become the principal concerns for Operations and Maintenance (O&M) service providers. As a result, n
    Read More
  • May 29, 2013
    Europe’s EasyWay project accommodates political requirements
    The EasyWay project has evolved to take account of political developments at the European level. By Jason Barnes The European Union’s (EU’s) EasyWay ITS deployment project has its roots in the ambitions of former European Commission President Jacques Delors with regard to truly international networks for energy, information and for transport. Definition of what became known as the Trans-European Transport Network (TEN-T) began back in 1994 with seven working groups. They produced an R&D and policy framework
    Read More
  • April 16, 2014
    Strong first quarter 2014 for IRD
    International Road Dynamics (IRD), Canada-based intelligent transportation systems (ITS) supplier, has announced solid growth for the three months ended February 28, 2014. Revenue increased by 32.2 per cent to $10.3 million compared to $7.8 million for the same quarter last year. Solid growth was achieved in the Company's Canada and United States and Latin America markets, while EBITDA increased to $490,090 compared to a loss of $190,359 in the first quarter of 2013. Quarter one of 2014 is the fourth con
    Read More

Highlighted Content