Iteris has reported continued growth in its transportation business and increasing momentum in the precision agriculture sector for the fiscal first quarter for year ending 31 March 2016.
Revenues for roadway sensors increased ten per cent year on year to US$9.9 million, while total revenues in the first quarter of 2016 increased to US$18.4 million compared to US$18.1 million in the same quarter a year ago. This was primarily driven by a 10 per cent increase in roadway sensors sales, while transportatio
Revenues for roadway sensors increased ten per cent year on year to US$9.9 million, while total revenues in the first quarter of 2016 increased to US$18.4 million compared to US$18.1 million in the same quarter a year ago. This was primarily driven by a 10 per cent increase in roadway sensors sales, while transportation systems revenues and performance analytics (formerly known as iPerform) were down four per cent and 24 per cent respectively.
“We are very pleased with the results of Q1 of our fiscal year 2016. We saw continued strength in our transportation sector businesses with increases in both revenue and gross margin. Once again, this growth was driven by a 10 per cent increase in our sensors business,” said Kevin Daly, interim president and CEO of Iteris. “In our agriculture sector, we saw progress on a number of important fronts: in our core technology, we received eight additional patents, we broadened our base with new product offerings, and we have booked initial business in three different product categories. Additionally, we have had a number of key customers testing our agriculture products that we feel will result in new business in the next quarter.”
