The World Technology Network Honors Iteris as One of Five Most Innovative Companies in IT Software; Iteris Selected as Corporate Member of the World Technology Network
ANAHEIM, Calif.--Nov. 1, 2005--Iteris, Inc. (AMEX:ITI), a leader in the development of vision-based technology that enhances driver safety, today announced that it has been named one of the top five most innovative companies in IT software for 2005 by the World Technology Network (WTN).The WTN is a global meeting ground, a virtual think tank, and an elite club whose members are all focused on the business and science of bringing important emerging technologies of all types (from biotech to new materials and from IT to new energy sources) into reality. The World Technology Awards honor corporations from 20 technology-related sectors viewed by their peers as being the most innovative and whose work has the greatest likelihood of long-term significance. Iteris was selected as a finalist for developing the world's first mass-produced Lane Departure Warning (LDW) system now available in commercial trucks and passenger cars. Other nominees in the same category include Apple Computer, IBM, Amazon.com, and Evolution Robotics.
"We are honored to be recognized among such an elite group of companies for a product that we believe in so strongly," says Jack Johnson, CEO of Iteris. "New and innovative technologies like LDW are expected to play an important role in highway safety and can save significant numbers of lives - Iteris is thrilled to be acknowledged as a leader in this area."
Winners of each category will be announced at the World Technology Awards Gala dinner on Nov. 1, 20055, 2005, at San Francisco City Hall in San Francisco, California. The Gala will conclude the two-day World Technology Summit.
The WTN's membership is comprised of nearly 1000 individuals and organizations from over 60 countries nominated and judged by their peers to be the most innovative in the technology world. The 2004 winner in the IT software corporate category was Apple Computer.
The LDW system is designed to prevent sideswipe, run-off-road and inadvertent lane change accidents that are usually caused by drowsiness, fatigue or distraction. The system uses a windshield-mounted camera that tracks lane markings using image recognition software and monitors the relative position of the vehicle within the lane. If the vehicle inadvertently crosses the lane markings, the system automatically emits a distinctive rumble strip sound alerting the driver to make a correction. Use of the vehicles turn signals automatically overrides the LDW system.
About Iteris, Inc.
Iteris, Inc., is a leading provider of outdoor vision systems and sensors that optimize the flow of traffic and enhance driver safety. Iteris combines outdoor image processing, traffic engineering, and information technology to offer a broad range of transportation and safety solutions. Iteris is headquartered in Anaheim, California. Investors are encouraged to contact us at 714.774.5000, or at www.iteris.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: 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," "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 roll-out and market acceptance of our LDW technology, the production schedules and our future prospects. These statements are subject to change and we undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our 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 automotive production schedules and agendas; the timing and successful completion of customer qualification of our products and the risks of non-qualification; market acceptance of our LDW system and the vehicles that incorporate our systems; our ability to specify, develop, complete, introduce, market and transition our products and technologies to volume production in a timely manner; the potential unforeseen impact of product offerings from competitors and other competitive pressures; and the general economic and political conditions and specific conditions in the markets we address, including the general economic slowdown and volatility in the automotive sector. 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).