Iteris, Inc. (NYSE MKT: ITI), a leader in providing information solutions to the transportation and agriculture markets, has added approximately $24 million in new signed contracts in the last three months, reaching a company record $52 million in backlog for its Transportation Systems business division, representing an approximate 60% increase from this point in time one year ago. These contracts broaden the firm’s transportation management and connectivity services providing additional software and hardware solutions; services include commercial vehicle operations (CVO), transit, performance monitoring, traveler information, and operations services.

Recent Iteris awards include:

  • Expanded CVIEW-Plus™ deployment base with five additional states in 2015, bringing the total number of states using Iteris’ commercial vehicle software to 21.
  • Five new iPeMS® performance monitoring software contracts in 2015, bringing the total number of agencies using the software platform to 17.
  • Contract to operate all five of Virginia’s Transportation Operations Centers (TOCs), compared to only a portion of one Virginia TOC previously.
  • Traveler Information IVR deployment with the Bay Area MTC, bringing the total number of systems deployed by Iteris to 14.
  • First TransitHelper® transit connectivity system installation, providing signal priority in Los Angeles County.
  • Supporting the U.S. Department of Transportation (USDOT) in the development of the Connected Vehicles Architecture.

“Iteris continues to utilize a customer-centric focus to grow in newer verticals, as demonstrated by these numerous contracts,” said Ramin Massoumi, senior vice president and general manager of Iteris’ Transportation Systems division. “This increased backlog is a positive indicator of our fiscal 2017 financial performance and our ability to provide a suite of first-rate mobility solutions, further, it provides an immediate recurring revenue source in a number of strategic market segments.”

About Iteris, Inc.

Iteris, Inc. (NYSE MKT: ITI) is a leader in providing information solutions to the transportation and agriculture markets. The company is focused on providing information and guidance to practitioners in these markets to improve their effectiveness and efficiency. By combining its expertise, unique IP, and information infrastructure in a suite of products and services, Iteris offers a broad range of solutions to both domestic US and international customers. The firm is headquartered in Santa Ana, California, with offices throughout the US and in selected foreign countries. For more information, please visit www.iteris.com or call 1-888-329-4483. Also visit us on Facebook, Twitter, LinkedIn, and YouTube.

Iteris Forward-Looking Statements

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the timing, success, and benefits of the projects and the performance, functionality and utility of our products and services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, our ability to successfully complete each phase of the project; government funding and budgetary issues, and potential related scheduling and funding delays; the impact of general economic, political, and other conditions in the markets we address; and the potential impact of product and service offerings from competitors and such competitors’ patent coverage and claims. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).