Iteris Selected for the Katella Avenue Traffic Light Synchronization Program by the Orange County, CA Transportation Authority
6/27/2011
-- Contract to Synchronize Traffic Lights Along a Major Corridor Serving Many Famous Attractions, Including Disneyland, Valued at $674,000 --
SANTA ANA, Calif. – June 27, 2011– Iteris, Inc. (NYSE Amex: ITI), a leader in traffic management focused on the application and development of advanced technologies, has been selected by the Orange County Transportation Authority (OCTA) to synchronize 68 traffic lights along Katella Avenue in Orange County, California, as part of the Proposition 1B - Traffic Light Synchronization Program (TLSP). The contract, valued at $674,000 is expected to begin immediately.
Katella Avenue, which spans across nine jurisdictional boundaries, is a main artery to many tourists and visitor hotspots, including the Disneyland Theme Parks, Los Alamitos Race Track, the Angels Stadium of Anaheim (Home of Major League Baseball’s Los Angeles Angels), the Honda Center (Home of the National Hockey League’s Anaheim Ducks), and the future Anaheim Regional Transportation Intermodal Center.
The project involves upgrading traffic signal electronics equipment and optimizing signal timing along the entire Katella Avenue corridor to increase throughput, reduce travel times, and improve overall safety.
Proposition 1B is a $19 billion transportation bond that was approved by California voters in 2006. Through Prop 1B, the TLSP was established with the objectives to improve traffic flow and safety through synchronization of traffic signals and technology-based improvements.
Abbas Mohaddes, Iteris' president and chief executive officer, noted, "Traffic signal synchronization is an ideal method to reduce traffic congestion and help agencies meet federal air quality mandates. Iteris has extensive experience in implementing intelligent transportation systems, including traffic signal synchronization, and we look forward to working with the OCTA on this important project."
"Iteris was selected for this project because they have demonstrated a thorough understanding of the Katella Avenue corridor by identifying and then providing excellent recommended solutions on the key issues," stated Ron Keith, Principal Traffic Engineer for the Orange County Transportation Authority. "They have a large presence with excellent recommendations from the local agencies in Orange County providing optimized traffic signal timing, hardware installations, system design, and consensus building with the local agencies."
About Iteris, Inc.
Iteris, Inc. is a leader in traffic management focused on the development and application of advanced technologies that reduce traffic congestion, minimize the environmental impact of traffic congestion, and improve the safety of surface transportation systems infrastructure. Combining outdoor image processing, traffic engineering, and information technology, Iteris offers a broad range of Intelligent Transportation Systems and driver safety solutions to customers worldwide. Iteris is headquartered in Santa Ana, California, with offices throughout North America and in Europe and the Middle East. Investors are encouraged to contact us at 888-329-4483, or atwww.iteris.com.
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).
For Information, Contact:
Scott Liolios or Cody Slach
Investor Relations
Liolios Group, Inc.
Tel 949-574-3860
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