US intelligent traffic management specialist 73 Iteris has improved financial results for its fiscal first quarter ended 30 June 2013, with total revenues total revenues in the first quarter of fiscal 2014 increased by 4 per cent to US$17.0 million compared to US$16.3 million in the same year-ago quarter. The increase was primarily attributed to a 5 per cent increase in both roadway sensors and transportation systems revenues.
“Revenue growth in our first quarter, on both a sequential and year-ago comparative basis, demonstrates strengthening demand for our core Roadway Sensors products and Transportation Systems services,” said Abbas Mohaddes, president and CEO of Iteris. “We believe these results, which helped drive a profitable bottom line despite the accelerated investment in iPerform, are the result of an expanding traffic management market and the growth strategy we laid out in fiscal 2013.
“For the remainder of fiscal 2014, we plan to stay focused on developing and delivering solutions to the areas of the intelligent traffic management market that are growing faster than the overall market. This will require further expansion of our sales, marketing, and research and development teams, especially within iPerform. The market is clearly in need of the intelligent traffic management products and solutions we provide, so we remain confident that the investments we’re making in these areas should continue to drive revenue growth and build shareholder value.”
“Revenue growth in our first quarter, on both a sequential and year-ago comparative basis, demonstrates strengthening demand for our core Roadway Sensors products and Transportation Systems services,” said Abbas Mohaddes, president and CEO of Iteris. “We believe these results, which helped drive a profitable bottom line despite the accelerated investment in iPerform, are the result of an expanding traffic management market and the growth strategy we laid out in fiscal 2013.
“For the remainder of fiscal 2014, we plan to stay focused on developing and delivering solutions to the areas of the intelligent traffic management market that are growing faster than the overall market. This will require further expansion of our sales, marketing, and research and development teams, especially within iPerform. The market is clearly in need of the intelligent traffic management products and solutions we provide, so we remain confident that the investments we’re making in these areas should continue to drive revenue growth and build shareholder value.”
