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

Related Content

  • ISS announces profitable first quarter 2017
    May 4, 2017
    Image Sensing Systems (ISS) has announced profitable results for its first quarter ended 31 March 2017, the first since 2010. First quarter revenue was US$3.1 million, compared to US$3.2 million in the first quarter of 2016, while gross margin from operations for the first quarter of 2017 was 79 per cent, a seven percentage point increase from a gross margin of 72 percent for the same period in 2016. The increase in the gross margin percent was the result of higher percentage of revenue from royalties and
    Read More
  • Q-Free preparing for new projects
    April 27, 2012
    Q-Free has announced revenues of US$21.11 million during the first quarter 2012 compared to US$29.66 million in the corresponding quarter in 2011, while order intake came in at $44.29 million, $6.45 million more than in previous quarter and $2.96 million more than in Q1-2011, reflecting, the company says, that its general optimism regarding demand is well grounded.
    Read More
  • Iteris wins $1.4 million signal system management project
    November 6, 2014
    Iteris is to serve as system manager for the deployment of the City of Omaha’s Intelligent Transportation System (ITS). The US $1.4 million project builds upon Omaha’s Traffic Signal System Master Plan, developed by Iteris in 2012, and will include the management of Omaha’s $35 million ITS upgrade program to reduce congestion. As system manager, Iteris will oversee the enhancements to the transportation network, focusing on more than 1,000 traffic signals and 4,500 miles of roadway in the city. Iteris’ r
    Read More
  • Most Americans support usage fees to pay for transportation infrastructure
    April 29, 2016
    Nearly two-thirds of Americans would support the use of road-usage fee options such as vehicle miles travelled or mileage-based user fees to help fund transportation costs, according to a new America Thinks national public opinion survey conducted by Kelton Global on behalf of infrastructure firm HNTB Corporation. The survey, Transportation Mobility 2016, also found that close to 170 million Americans (69 per cent) agree priced managed lanes should be considered when making improvements to US highways.
    Read More

Highlighted Content