News | June 27, 2024

Iteris Awarded $2M Texas DOT IDIQ Contract For Smart Mobility And Traffic Signal Timing Services

Austin, TX (BUSINESS WIRE) - Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced that it has been awarded a five-year indefinite delivery/indefinite quantity (IDIQ) contract with a value of up to $2 million by the Texas Department of Transportation (TxDOT).

Under the terms of this contract, Iteris will continue to provide traffic signal timing and operational improvements at key intersections throughout the TxDOT Houston District, one of the largest metropolitan areas in the United States with over 1,000 signalized intersections.

“We are extremely pleased to extend our close working relationship with the state of Texas, one of the largest and most progressive transportation markets in the U.S.,” said Cliff Heise, regional vice president, mobility professional services at Iteris. “Texas is a key strategic market for Iteris and, with this being the fourth consecutive TxDOT Houston District Traffic Signal Timing IDIQ awarded to Iteris, we’re excited for the chance to continue our work increasing efficiency and creating a better, more sustainable travel experience in the region.”

This agreement is the eighth major contract awarded to Iteris by TxDOT in the past six years and the fourth consecutive signal timing contract. Iteris has provided $15 million of Intelligent Transportation System (ITS), traffic engineering and traffic signal timing/operations support to TxDOT.

About Iteris, Inc.

Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility® Platform, our cloud-enabled 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 TwitterLinkedIn 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 awarded contract and statements about our professional services. 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 in a cost-efficient manner; government funding and budgetary delays, issues, and timing; adverse impacts related to project scheduling delays and cancellation of a project; and the adverse impacts of general economic, political, and other 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).

© 2024 Business Wire