QualityStocks would like to highlight Iteris, Inc. (NYSE Amex: ITI), the market leader in providing Traffic Information Management Solutions to the Intelligent Traffic Management Industry. Their decades of expertise in traffic management, along with superior services and patented products help: detect, measure, and manage traffic and vehicular performance; minimize traffic congestion and inform and empower clients with solutions to better manage their transportation networks. The company is headquartered in Santa Ana, California, with offices nationwide and in the Middle East.
In the company’s news yesterday,
Iteris announced it has been awarded the prime contract from the Research and Innovative Technology Administration (RITA) for the National Intelligent Transportation Systems (ITS) Architecture Evolution and Support Program. The five-year award, expected to begin this month, has a ceiling valued at $12.4 million for the duration of the contract.
The contract is an extension of the relationship, calling for a two-year base period valued at approximately $4.9 million, as well as three one-year options that would extend through 2017. If all options are exercised, the total potential value of the contract could reach $12.4 million.
Iteris has a 15-year standing with the federal government, for which the company has provided support in developing the National ITS Architecture and facilitating its implementation across the country.
“The National ITS Architecture Program has been a corner stone of the Federal ITS Program,” Abbas Mohaddes, president and CEO of Iteris stated in the press release. “This program has evolved as ITS has expanded. We are delighted to have the opportunity to continue assisting RITA in both the National Architecture program as well as connected vehicle initiatives. These prestigious and important programs are expected to play a key role in the next phase of ITS evolution and implementation across the county.”
About QualityStocks
QualityStocks, based in Scottsdale, Arizona, is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters into one Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their investor communication efforts and connecting subscribers with companies that have huge potential to succeed in the short and long-term future.
To sign up for The QualityStocks Daily Newsletter, please visit www.QualityStocks.net
Please read FULL disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.net
Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
