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

  • Inrix expands traffic data programme collaboration
    October 12, 2012
    Nearly a year after the I-95 Corridor Coalition, the University of Maryland (UMD) and Inrix announced a three-year expansion of the Vehicle Probe Project (VPP), the coalition and its partners are expanding their collaboration once again. Through a Federal Highway Administration (FHWA) Awards Grant, the coalition will use Inrix traffic information to expand coverage to over 40,000 miles of roads across fourteen states.
    Read More
  • PPP wins US$4bn metro in São Paulo
    November 8, 2013
    A consortium composed of Brazilian engineering companies Odebrecht Transport and Queiroz Galvão and local groups UTC Participações and Eco Realty-Fundo de Investimento em Participações, has won a tender to build and operate the upcoming US$3.9 billion metro line 6 located in south-eastern Brazil's São Paulo city. Also known as the Laranja (orange) line, the subway will run some 15.9 kilometres between the Brasilândia and San Joaquin stations, with fifteen stations in all. It will connect the universitie
    Read More
  • Iteris, Wavetronix settle patent infringement litigation
    March 17, 2015
    Iteris and Wavetronix have announced an agreement to settle patent infringement litigation filed by Wavetronix against Iteris. As part of that settlement, Iteris has agreed to remove the continuous mode feature from its Vantage Vector product, and the parties have dismissed their respective claims. Neither party admits liability and the remaining terms of the resolution are confidential.
    Read More
  • Iteris expands iPerform software solutions
    April 29, 2013
    Intelligent traffic management information solutions provider Iteris is expanding its iPerform traffic and weather-related data and analytics software offering. Iteris says that iPerform provides a new generation of intelligent traffic and weather-related information solutions, bringing the power of big data to the prediction of traffic conditions and the delivery of actionable information to both the public and commercial marketplace. The segment’s initial product, Iteris PeMS, is a state-of-the-art inform
    Read More

Highlighted Content