Iteris Chosen by City of Lakeland for Smart Mobility and Safety Initiative

$ITI
Telecommunications Equipment
Telecommunications
Get the next $ITI alert in real time by email

Iteris detection and connected vehicle technology will work together to improve safety at high-impact intersections

Iteris, Inc. (NASDAQ:ITI), the world's trusted technology ecosystem for smart mobility infrastructure management, today announced its selection by the City of Lakeland, Florida to provide smart mobility infrastructure management technologies to support the city's Intersection Crash Avoidance Safety Program (iCASP).

The project includes the deployment of Vantage Next®, Iteris' next-generation video detection system and VantageLive!®, an easy-to-use, web-based data service that allows users to view activity at their intersections by automatically collecting and analyzing vehicle, bicycle and pedestrian data, removing the need for manual, costly data collection efforts. These technologies will enable FDOT and the City of Lakeland to proactively prioritize easy-to-implement red light running countermeasures with the Red Protect safety feature.

Lakeland will also utilize BlueTOAD® roadside units at select intersections. BlueTOAD combines real-time and historical Bluetooth detection with vehicle-to-everything (V2X) interconnectivity to enable various connected vehicle applications as well as to provide synchronization with transportation agency travel-time and performance-measures based systems.

Vantage Next, VantageLive! and BlueTOAD are key components of Iteris' ClearMobility® Platform, the world's most complete solution to monitor, visualize and optimize mobility infrastructure continuously. The platform applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to help ensure roads are safe, travel is efficient, and communities thrive.

The City of Lakeland initiated this project due to a high number of crashes attributed to red light running in certain high-impact intersections throughout the city. The deployment of Iteris' advanced technologies at 19 of these intersections is expected to increase safety for Lakeland's traveling public.

"We're thrilled to be supporting FDOT and the City of Lakeland in their Intersection Collision Avoidance Safety Program," said Kevin Exner, regional vice president at Iteris. "This is not only an excellent chance to carry on with our extensive work in the Florida market, but it also combines two of our greatest passions at Iteris: the advancement of ITS infrastructure and the enhancement of road user safety."

About Iteris, Inc.

Iteris is the world's trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris' ClearMobility® Platform, our AI-powered end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That's why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. 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," "feels," "anticipates," "expects," "intends," "outlooks," "targets," "plans," "seeks," "estimates," "may," "could," "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 project and our solutions' capabilities and benefits. 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 our services and products in a cost-efficient manner; government funding and budgetary delays, issues and timing; adverse impacts of performance timing; the adverse impacts 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).

Get the next $ITI alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$ITI

DatePrice TargetRatingAnalyst
4/30/2024$11.00Buy
Maxim Group
2/4/2022$6.00 → $4.50Buy → Hold
Craig-Hallum
More analyst ratings

$ITI
Press Releases

Fastest customizable press release news feed in the world

See more
  • Iteris Stockholders Approve Merger Agreement with Almaviva

    More Than 98% of Votes Cast at Special Meeting Voted for Transaction Iteris, Inc. (NASDAQ:ITI) ("Iteris" or the "Company"), the world's trusted technology ecosystem for smart mobility infrastructure management, today announced that Iteris stockholders approved the proposed merger agreement with Almaviva S.p.A. ("Almaviva") at Iteris' Special Meeting of Stockholders held yesterday. As previously announced, under the terms of the merger agreement, Almaviva will acquire Iteris in an all-cash transaction in which Iteris' stockholders will receive $7.20 per share of common stock, valuing Iteris at approximately $335 million equity value. The parties anticipate the transaction will close on or

    $ITI
    Telecommunications Equipment
    Telecommunications
  • Iteris to Be Acquired by Almaviva for $335 Million

    Iteris Shareholders to Receive $7.20 Per Share in Cash, Representing Significant Premium of 68% Iteris, Inc. (NASDAQ:ITI) ("Iteris" or the "Company"), the world's trusted technology ecosystem for smart mobility infrastructure management, today announced that it has entered into a definitive merger agreement to be acquired by Almaviva S.p.A. ("Almaviva"), a private Italian digital innovation group, in an all-cash transaction valuing Iteris at approximately $335 million equity value. Under the terms of the agreement, Iteris shareholders will receive $7.20 in cash for each share of Iteris common stock. Iteris is a global leader in smart mobility infrastructure management with over 10,000 p

    $ITI
    Telecommunications Equipment
    Telecommunications
  • Iteris Reports Record Quarterly Revenue of $45.8 Million

    Record trailing six-month net bookings of $102.1 million and record ending backlog of $126.8 million Iteris, Inc. (NASDAQ:ITI), the global leader in smart mobility infrastructure management, today reported financial results for its fiscal first quarter ended June 30, 2024. Fiscal 2025 First Quarter Financial Highlights Revenues of $45.8 million, up 5.1% year over year compared to an unusually strong prior year period Net new bookings of $48.8 million, resulting in record trailing six months net new bookings of $102.1 million Record Backlog of $126.8 million as of March 31, 2024, up 2.4% year over year Gross profit of $17.3 million, or 37.9% of revenue, compared to $16.8 mill

    $ITI
    Telecommunications Equipment
    Telecommunications

$ITI
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$ITI
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

See more

$ITI
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$ITI
SEC Filings

See more

$ITI
Leadership Updates

Live Leadership Updates

See more
  • Iteris Appoints Gary Hall and Kimberly Valentine-Poska to its Board of Directors

    Experience in infrastructure and technology will enhance the company's strategic planning and capital allocation Iteris, Inc. (NASDAQ:ITI), the world's trusted technology ecosystem for smart mobility infrastructure management, today announced that Gary Hall, partner and president of infrastructure & public finance for Siebert Williams Shank & Company, and Kimberly Valentine-Poska, managing director at Global Capital Markets, Inc., have been appointed to its board of directors. Mr. Hall has an extensive background in infrastructure, public finance and regulatory work and is currently a partner and president of infrastructure & public finance for Siebert Williams Shank & Company, the nati

    $ITI
    Telecommunications Equipment
    Telecommunications
  • Iteris Reports Granting of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)

    SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has granted inducement awards to 17 new non-executive employees, who joined the company as a result of the recent TrafficCast International, Inc. acquisition. The awards were made on January 1, 2021 under Iteris’ 2020 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Iteris as an inducement to join the company. The inducement awards to the 17 new non-executive employees consist of options to purchase an aggregate of 95,000 shares of Iteris common stock and 68,156 restrict

    $ITI
    Telecommunications Equipment
    Telecommunications

$ITI
Financials

Live finance-specific insights

See more
  • Iteris Reports Record Quarterly Revenue of $45.8 Million

    Record trailing six-month net bookings of $102.1 million and record ending backlog of $126.8 million Iteris, Inc. (NASDAQ:ITI), the global leader in smart mobility infrastructure management, today reported financial results for its fiscal first quarter ended June 30, 2024. Fiscal 2025 First Quarter Financial Highlights Revenues of $45.8 million, up 5.1% year over year compared to an unusually strong prior year period Net new bookings of $48.8 million, resulting in record trailing six months net new bookings of $102.1 million Record Backlog of $126.8 million as of March 31, 2024, up 2.4% year over year Gross profit of $17.3 million, or 37.9% of revenue, compared to $16.8 mill

    $ITI
    Telecommunications Equipment
    Telecommunications
  • Iteris Sets Fiscal First Quarter 2025 Conference Call for Thursday, August 8, 2024 at 4:30 p.m. ET

    Iteris, Inc. (NASDAQ:ITI), the world's trusted technology ecosystem for smart mobility infrastructure management, today announced that it will conduct a conference call on Thursday, August 8th at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the fiscal first quarter ended June 30, 2024. The financial results will be issued in a press release prior to the call. Iteris president and CEO Joe Bergera and CFO Kerry Shiba will host the call, followed by a question and answer period. Date: Thursday, August 8, 2024 Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time) Toll-free dial-in number: +1 800-715-9871 International dial-in number: +1 646-307-1963 P

    $ITI
    Telecommunications Equipment
    Telecommunications
  • Iteris Reports Record Fiscal 2024 Full Year Revenue of $172.0 million, Up 10% Year Over Year

    Reports record net new bookings of $53.3 million for fiscal 2024 fourth quarter, up 20% year over year Iteris, Inc. (NASDAQ:ITI), the global leader in smart mobility infrastructure management, today reported financial results for its fiscal fourth quarter and full year ended March 31, 2024. Fiscal 2024 Fourth Quarter Financial Highlights Revenues of $42.8 million, up 1% compared to an unusually strong prior year period Gross margins of 37.4%, up 558 basis points year over year Record net new bookings of $53.3 million, up 20% year over year Backlog of $123.8 million as of March 31, 2024, up 8% year over year GAAP net income of $0.1 million, or $0.00 per diluted share, a $0

    $ITI
    Telecommunications Equipment
    Telecommunications

$ITI
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more