Iteris Wins New Texas DOT IDIQ Contract for Smart Transportation and Traffic Engineering Services

New $2 Million Contract Expected to Expand the Company’s Market
Penetration in Texas

  • Agreement is the sixth major contract awarded to Iteris by TxDOT in
    the past three years
  • New contract award accelerates Iteris’ geographic expansion in one
    of the “largest and most progressive” national transportation markets
  • Task orders expected in the areas of traffic signal timing, traffic
    signal operations and signal communication analysis to improve
    mobility and safety


SANTA ANA, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24ITI&src=ctag” target=”_blank”gt;$ITIlt;/agt; lt;a href=”https://twitter.com/hashtag/Iteris?src=hash” target=”_blank”gt;#Iterislt;/agt;–Iteris,
Inc
. (NASDAQ: ITI), the global leader in applied informatics for
transportation and agriculture, today announced that it is one of two
firms to be awarded the Texas Department of Transportation’s (TxDOT)
Wave 2 Austin District Traffic Signal Timing indefinite
delivery/indefinite quantity (IDIQ) contract, a three-year commitment
with a potential value of up to $2 million. Task orders are anticipated
in mid-2019.

The company anticipates task orders for traffic signal timing, traffic
signal operations and signal communication analysis.

“We are proud to be selected again by TxDOT to support important
infrastructure projects in the state of Texas, one of the largest and
most progressive transportation markets in the U.S.,” said Scott
Carlson, vice president and assistant general manager, Transportation
Systems at Iteris. “Texas is a strategic market for Iteris and, with
this being the sixth TxDOT IDIQ awarded to Iteris in the past three
years, we expect to further expand our share of consulting, integration
services and software revenue in the state. This will be Iteris’ first
prime contract with TxDOT Austin and will be focused on improving
mobility and safety at TxDOT signalized intersections throughout the
Austin region.”

With this contract, which was awarded in May 2019, Iteris expands its
current traffic engineering and intelligent transportation systems work
to another TxDOT district, for a total potential TxDOT backlog of over
$9 million from six IDIQ contracts awarded over the past three years.

In May 2018, Iteris was awarded
a multi-district IDIQ contract from TxDOT for traffic signal design and
timing, as well as intelligent transportation systems planning and
integration. That contract was a three-year commitment with a potential
value of up to $3 million.

Iteris recently announced
that its intersection detection and related traffic management products
from its Roadway Sensors segment have been certified for purchase by
TxDOT under the newly reinstated Texas SmartBuy contract 550-A2.

About Iteris, Inc.

Iteris is the global leader in applied informatics for transportation
and agriculture, turning big data into big breakthrough solutions. We
collect, aggregate and analyze data on traffic, roads, weather, water,
soil and crops to generate precise informatics that lead to safer
transportation and smarter farming. Municipalities, government agencies,
crop science companies, farmers and agronomists around the world use our
solutions to make roads safer and travel more efficient, as well as
farmlands more sustainable, healthy and productive. 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,”
“anticipates,” “expects,” “intends,” “plans,” “seeks,” “estimates,”
“may,” “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
potential up to total value, success, impact, and benefits of the
awarded contract. 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 successfully perform the services cost
effectively; agency funding and budgetary timing, allocations and
constraints; utilization needs of the agency for the services subject to
the contract (e.g., seasonality); impact of adverse influences and
variances of general economic, political, environmental, and other
conditions in the markets we address; performance timing and
cancellation of task orders; and the potential impact of product and
service offerings from competitors. 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).

Contacts

Iteris Contact
David Sadeghi
Tel: (949) 270-9523
Email:
dsadeghi@iteris.com

Investor Relations
MKR Investor Relations, Inc.
Todd
Kehrli
Tel: (323) 468-2300
Email: iti@mkr-group.com

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