Iteris increases revenue in fiscal year 2015

73 Iteris has reported record revenue for fiscal year 2015 and significant progress on strategic initiatives.

Total revenues for the year have increased by six per cent over 2014 to US$72.3 million, while total gross margin improved to 39 per cent. Revenue for roadway sensors revenues has increased by 15 per cent to US$36.4 million.

“Our overall growth in fiscal year 2015 is reflective of the strength of roadway sensors and transportation systems, our core transportation business segments,” said Kevin Daly, interim president and CEO of Iteris. “Together, these grew at an annual rate of six per cent. Our Q4 revenue and 10 per cent backlog growth to US$39.2 million are both indicators that this performance is likely to continue in fiscal year 2016. We also believe that the proliferation of connected vehicle initiatives will create new opportunities for Iteris products and services in the transportation market.

“With our continued growth and expansion in the transportation market and our emergence in the agriculture market, we look forward to an exciting year that we expect could have a transformative impact on our business.”