Iteris reports strong 2014 growth

Iteris has reported financial results for its fiscal fourth quarter and full year ended31 March 2014, indicating total revenues in the fourth quarter of 2014 increased 11 per cent to US$17.6 million compared to US$15.9 million in the same quarter last year. This was primarily driven by a 25 per cent increase in roadway sensors. iPerform revenues were also up 14 per cent, while transportation systems revenues were down one per cent. Total revenues in 2014 increased 11 per cent to US$68.2 million compared to
September 4, 2014 Read time: 2 mins

73 Iteris has reported financial results for its fiscal fourth quarter and full year ended 31  March 2014, indicating total revenues in the fourth quarter of 2014 increased 11 per cent to US$17.6 million compared to US$15.9 million in the same quarter last year. This was primarily driven by a 25 per cent increase in roadway sensors. iPerform revenues were also up 14 per cent, while transportation systems revenues were down one per cent.

Total revenues in 2014 increased 11 per cent to US$68.2 million compared to US$61.7 million in 2013. The increase was primarily driven by a 22 per cent increase in roadway sensors revenues. iPerform revenues and transportation systems revenues were also up five per cent and two per cent respectively.

Total backlog at the end of the fourth quarter was US$35.6 million compared to US$36.8 million in the previous quarter and US$38.6 million in the same quarter 2013. The reduction reflects soft market conditions for the transportation systems market. However, based upon active proposals outstanding, the company believes the market is improving.

“We ended fiscal 2014 with a strong fourth quarter, most notably in our roadway sensors business, which grew revenues by 25 per cent and contributed significantly to our overall profitability,” said Abbas Mohaddes, president and CEO of Iteris. “Our fourth quarter reflects increasing demand for our core products and services, as well as success in various growth initiatives developed earlier in the year, such as the introduction of innovative new products in our Roadway Sensors business. Two of these key products include our Vantage Velocity processor and Vector hybrid video and radar detection camera.”

The company has also announced major technical developments and new product launches, recent contract wins, including a US$1.2 million contract awarded by the Virginia Department of Transportation, and new key partnerships such as partnering with Here, a Nokia company, to provide traffic information and analytics to the I-95 Corridor Coalition.

Detection, Monitoring & Machine Vision Classification & Data Collection

For more information on companies in this article

Related Content

  • Satellite-based truck tolling provides Slovak solution
    August 12, 2015
    Slovakia opted for a satellite-based tolling system and following last year’s enlargement it now has the European Union’s largest truck user charging system.
    Read More
  • US toll roads stable for 2014, says Fitch
    December 18, 2013
    Within a broader review of US transport infrastructure securities, including ports and airlines, Fitch Rating analysts say the recent slow growth in aggregate traffic is likely to continue but that many established toll roads look financially solid because of their pricing power - tolls that have been well below revenue maximising levels. Their pricing power has been somewhat reduced, Fitch says, by strong increases in toll rates on many toll roads, which mean they have less scope for big increases in to
    Read More
  • Vancouver's metro transport promotes alternatives to driving
    January 26, 2012
    David Crawford looks at Vancouver and the legacy of a Olympic transport success
    Read More
  • Evidence growing for distance-based charging
    January 18, 2012
    The case is growing for an alternative to fuel taxation for funding highway infrastructure. A more sustainable system of mileage-based charging can be established in a way that is acceptable to the travelling public, writes Jack Opiola. Fuel tax - the lifeblood relied on for 80 years to maintain and improve roads and transit systems - is now in considerable jeopardy in the United States. Increased vehicle fuel efficiency and a poor economy already hamper generation of fuel tax revenue; now a recent federal
    Read More

Highlighted Content