One of the USA’s leading suppliers of applied informatics systems for the transportation industry, Iteris Inc., has been awarded a US$3.2m subcontract agreement to provide operations services and staff to the Florida Department of Transportation’s (FDOT) District 7 regional traffic management center (RTMC) in Tampa Bay.
Under the terms of the subcontract with Lucent Group Inc., Iteris will supply traffic management center (TMC) operations services and staff for a minimum of five years, with the new agreement representing an important expansion of the company’s operations services business in a key geographic market. The program supports FDOT’s commitment to a ‘proactive operations culture’, which takes a more purposeful approach to seeking and anticipating traffic-related issues with the goal of improving road safety and efficienc
y for travelers. Tasks may also include integrating future I-75 managed lanes to the RTMC, co-management of arterial and freeway operations, and design and construction oversight of the new operator workstations’ floor layout at the District 7 SunGuide Center.
“FDOT is demonstrating its commitment to improving traffic safety and efficiency in this key part of the state,” said Moe Zarean, vice president and assistant general manager for the eastern region at Iteris’s Transportation Systems business unit. “We look forward to leveraging the expertise from our TMC staffing engagements across the country to resolve the issues facing freeways and arterial roads throughout District 7.”
The Iteris Transportation Systems business unit provides public and private entities, including local city agencies, counties, institutions and state Departments of Transportation, comprehensive TMC systems, encompassing everything from design concept to installation, configuration and staffing. Iteris has just released its financial results for the fiscal fourth quarter and full year ended March 31, 2018, which shows the company’s Transportation Systems revenue increased 11% year-on-year to US$54.5m. The company’s Roadway Sensors business unit’s revenue also increased 5% year-on-year to US$44.5m. Iteris is also reporting considerable reinvestment into its traffic management systems, with R&D expenses increasing by approximately US$1.1m year-on-year, driven primarily by the refactoring of its iPeMS performance management software offering, enhancements of insights related to its Weather Analytics segment, and enhancements to its VantageLive! cloud-based transportation analytics platform.
“We are pleased with our full-year revenue performance, ending the fiscal year with a record US$104m in annual revenue,” said Joe Bergera, president and CEO at Iteris. “Additionally, all of our reporting segments made significant progress on their product roadmaps, as well as related commercial and operational initiatives that will benefit the company going forward. In fiscal Q4, our Roadway Sensors segment continued to encounter choppiness in Texas, as Houston and other Gulf Coast cities rebalanced reconstruction priorities against previously planned improvement projects in the aftermath of last year’s unprecedented weather disasters. Despite the near-term quarterly fluctuations, we expect to be a net beneficiary of reconstruction spending in the region over the long term.”
In conclusion, Bergera noted, “We remain focused on capturing the significant opportunities in front of us. Our extensive customer relationships, unique multi-disciplinary expertise, and robust software and IoT platforms provide an excellent foundation for the company to capitalize upon favorable long-term trends in the smart transportation market.”