Iteris Awarded $4.7 Million Contract by Orange County Transportation Authority for Traffic Signal Synchronization

Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has executed the final contract and received the formal notice to proceed for a $4.7 million initiative with the Orange County Transportation Authority (OCTA) for a regional traffic signal synchronization project.

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Iteris Awarded $4.7 Million Contract by Orange County Transportation Authority for Traffic Signal Synchronization (Photo: Business Wire)

The three-year project includes signal coordination and timing improvements, with the aim of improving traffic flow, enhancing public safety and decreasing stops.

Under the project agreement, Iteris will provide services that will upgrade traffic signal electronics and communications equipment, and optimize signal timing along Katella Avenue, a major east-west corridor that comprises key signalized intersections spanning eight cities – Anaheim, Orange, Garden Grove, Villa Park, Cypress, Los Alamitos, Stanton and County of Orange – in Orange County, California. On January 7, 2020, Iteris announced that it had been awarded a $3.6 million contract to perform the same services across Orange County’s Main Street corridor.

Iteris’ Intersection-as-a-Service™ end-to-end solution offering, a component of the ClearMobility™ Platform, will deliver proactive monitoring of traffic signal operations at all project intersections. The primary goal of this project is to deploy new intelligent transportation system (ITS) equipment and communication infrastructure to support the management of the cities’ transportation network, implement optimized coordination timing plans to achieve optimal traffic flow, and improve safety for all road users, including vehicles, buses, bicycles and pedestrians.

"We are proud to support OCTA’s goal of improving the safety and mobility of road users by embarking on this traffic signal synchronization project,” said Scott Carlson, vice president and assistant general manager, Transportation Systems at Iteris. "This initiative represents the continued expansion of Iteris’ traffic signal coordination services, as well as our Intersection-as-a-Service offering, across the west coast and will ultimately help to increase the value and effectiveness of the region’s existing transportation infrastructure, while also improving air quality and reducing fuel consumption.”

Iteris expects to commence the traffic signal coordination and ITS design project immediately.

The ClearMobility Platform is the world’s most complete solution to continuously monitor, visualize and optimize mobility infrastructure. ClearMobility applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to help ensure roads are safe, travel is efficient, and communities thrive.

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," "outlooks,” "target,” "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 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 provide the services on a cost-effective basis; government funding and budgetary issues, and potential impacts related funding delays; project and contract cancellations; availability of resources, such as components and equipment necessary to perform the work for the project; the challenges in the development and deployment of software-based solutions generally; 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).

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