From the Wires
Iteris Selected by South Carolina for $2.5 Million 511 Traveler Information Services Project
By: Business Wire
Jan. 16, 2013 08:02 AM
Iteris, Inc. (NYSE MKT: ITI), a leader in providing intelligent traffic management information solutions, was selected by the South Carolina Department of Transportation (SCDOT) to upgrade and operate the State’s next generation 511 Traveler Information System.
A component of the award includes IterisPeMSTM (iPeMS), a unique, state-of-the-art system that authenticates and analyzes multiple sources of traffic data for performance measuring and management.
The three-year contract, valued at approximately $2.5 million, includes two one-year options for ongoing operation and maintenance. The award strengthens Iteris’ leadership position in 511 traveler information systems, with the company currently operating 18 systems nationwide and abroad. Work on the project is planned to begin immediately.
“This award by South Carolina reflects our strengthening record of delivering 511 systems on time and on budget, while providing the best resources and user experience to travelers on the road,” said Abbas Mohaddes, president and CEO of Iteris. “As we begin to upgrade the SCDOT 511 systems to our state-of-art technology, we will incorporate the synergies of our IterisPeMSTM performance measurement and management solution, which is expected to enhance certain aspects of the SCDOT 511 system.”
Under the terms of the engagement, Iteris will lead a team of highly qualified partners experienced in the delivery of traveler information systems. This new system will be implemented in phases and will include the following new features and enhancements:
According to SCDOT’s ITS Coordinator Dan Campbell, “We are excited about working with Iteris on South Carolina’s next generation 511 system.”
About Iteris, Inc.
Iteris Inc. is a leader in providing intelligent information solutions to the traffic management market. The company is focused on the development and application of advanced technologies and software-based information systems that reduce traffic congestion, provide measurement, management, and predictive traffic analytics, and improve the safety of surface transportation systems. By combining its patented products, decades of expertise in traffic management, and information technologies, Iteris offers a broad range of Intelligent Transportation System ("ITS") solutions to customers worldwide. The firm is headquartered in Santa Ana, California with offices nationwide and in the Middle East. For more information, please call 1-888-329-4483 or visit www.iteris.com. Also visit us on Facebook, Twitter, and You Tube.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
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," "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 success and timing of this contract and our future prospects.
Important factors that may cause such a difference include, but are not limited to our ability to specify, develop, and complete our technologies in a timely manner; budget constraints and changing governmental priorities; the timing and successful completion of this contract; the potential unforeseen impact of product and service offerings from competitors and other competitive or governmental pressures; and the general economic, political, and specific conditions in the markets we address. 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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