SANTA ANA, CA--July 23, 2013: Iteris, Inc. (NYSE MKT: ITI), a leader in providing intelligent information solutions to the traffic management market, was selected as part of a world-class team to operate, integrate, and provide innovative solutions for Virginia Department of Transportation's (VDOT) five traffic operations centers.
“The Commonwealth of Virginia sought innovation from around the country to deliver the best technology solutions to maximize our transportation system”
Iteris was chosen as a sub-contractor by Serco to provide traffic operators at two of VDOT's five traffic centers and general engineering services as requested by Serco. The centers monitor traffic conditions via cameras and other technology, allowing them to provide traveler information on road conditions, manage congestion, and coordinate incident response.
Iteris could generate more than $12.6 million in revenue over the six-year term of the engagement. It values the contract's operational component at $6.6 million, with the general engineering services piece to potentially provide an additional $6.0 million to $8.0 million. Traffic operations services are expected to begin during the fourth calendar quarter of 2013.
"The Commonwealth of Virginia sought innovation from around the country to deliver the best technology solutions to maximize our transportation system," said Robert McDonnell, Governor of Virginia, in a statement announcing the new program. "Virginia is a leader among state departments of transportation in providing real-time traffic information to motorists, and we wanted to build on that reputation. We will use technology more effectively to better manage congestion, freight movement, incidents, severe weather-related incidents and traveler information. This is another example of utilizing smart, creative solutions that harness cutting-edge innovations to improve the quality of life for Virginians."
Specific engineering services the team will consolidate and manage for VDOT include:
- Monitoring traffic through the use of 900 cameras, 500 electronic message signs, and more than 1,000 road sensors
- Managing incident and emergency response
- Dispatching safety service patrol and maintenance crews to respond to incidents
- Providing actionable 511 traveler information
- Managing HOV/reversible lanes
- Providing real-time information to emergency responders
- Serving as emergency operations centers during major events
- Coordinating signal systems
"The VDOT award expands our strong support for Virginia's transportation network, since we currently operate and maintain the Commonwealth's award-winning 511/Traveler Information System," said Abbas Mohaddes, president and CEO of Iteris. "VDOT is one of the leaders in intelligent transportation system innovation and has leveraged the benefits of technology to better guide system managers and users. Their business model stands as an excellent example for other state agencies to adopt."
Iteris, Inc. is a leader in providing intelligent information solutions to the traffic management market. The company is focused on the development and application of advanced technologies and software-based information systems that reduce traffic congestion, provide measurement, management, and predictive traffic analytics, and improve the safety of surface Transportation systems. By combining its unique IP, products, decades of expertise in traffic management, and information technologies, Iteris offers a broad range of Intelligent Transportation System (ITS) solutions to customers worldwide. The firm is headquartered in Santa Ana, California, with offices nationwide and in the Middle East.