Iteris Awarded $1.1 Million Contract by City of San Antonio for Traffic Signal Optimization Engineering Services

Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has been awarded a three-year contract by the City of San Antonio with a potential value of up to $1.1 million, representing continued demand for Iteris’ specialized consulting services in a key geographic market.

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Iteris Awarded $1.1 Million Contract by City of San Antonio for Traffic Signal Optimization Engineering Services (Photo: Business Wire)

The three-year program includes traffic signal timing improvements at key intersections throughout San Antonio, one of the country’s largest metropolitan areas, which houses over 1,400 signalized intersections.

"We are proud to be selected by the City of San Antonio to support another important infrastructure project in the state of Texas, one of the largest and most progressive transportation markets in the U.S.,” said Scott Carlson, regional vice president, Consulting Solutions at Iteris. "Texas is a key strategic market for Iteris and, with this being the seventh major contract awarded to Iteris in the state in recent years, we expect to further expand our share of specialized consulting, cloud-enabled managed services and software-as-a-service revenue in the state.”

In December 2020, Iteris was awarded an IDIQ contract from TxDOT for traffic signal timing improvements in the Houston district. That contract was a three-year commitment with a potential value of up to $1.2 million.

In June 2020, Iteris was awarded a $1 million contract by the City of Round Rock to provide mobility intelligence solutions and video detection technology updates throughout the Texas city.

In May 2019, Iteris was awarded an IDIQ contract from TxDOT for traffic signal timing, traffic signal operations and signal communication analysis in the Austin district. That contract was a three-year commitment with a potential value of up to $2 million.

Iteris has designed, deployed or equipped over one third of all signalized intersections in the United States, supporting local and state transportation agencies with advanced detection sensors, and traffic signal design, timing and synchronization services.

In Texas, Iteris has provided traffic engineering, traffic signal timing, intelligent transportation systems (ITS) and equipment to more than 90 mid-to-large cities and all 25 TxDOT districts.

About Iteris, Inc.

Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.

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 our design, planning and integration services and statements about the impacts and value of the awarded contract. 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 perform the services cost effectively; agency budgetary constraints; utilization needs of the agency for the services subject to the contract (e.g., seasonality); performance timing and cancellation of task orders; and the potential impact of product and service offerings from competitors. 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).

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