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I-405 Improvement Project to Shorten Commute Times Significantly for 370,000 Daily Southern California Drivers

Iteris $5.5 Million Contract Award for Initial Design Phase Scheduled for 2018 Completion; Work Started in March

SANTA ANA, Calif.–(BUSINESS WIRE)–Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today confirmed a $5.5 million initial contract for its role on the I-405 Improvement project for one of the busiest freeway segments in the nation, located in Orange County. Iteris’ initial work on the project involving infrastructure design started in March and is expected to run through 2018.

“The ITS design incorporates leading technologies to ensure safety of motorists, simplified traffic management and improved travel times.”

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The I-405 Improvement project has a total budget of more than $1 billion and is the largest-scale project undertaken by Orange County Transportation Authority (OCTA), in cooperation with Caltrans. Iteris is responsible for the freeway intelligent transportation systems (ITS) and Express Lane infrastructure design, temporary ITS infrastructure for use during construction, development of the project traffic management plan, and signal design at 42 intersections throughout the corridor. ITS and Express Lanes elements to be designed include changeable message signs, CCTV cameras, vehicle detection, ramp metering, and communications networks for both ITS and the Express Lanes. The widening project will add a total of four lanes: two general purpose lanes and two tolled express lanes.

“This iconic project brings together the best practices for project design and delivery for smarter mobility,” said Ramin Massoumi, general manager and senior vice president of Transportation Systems at Iteris. “The ITS design incorporates leading technologies to ensure safety of motorists, simplified traffic management and improved travel times.”

An OCTA study concluded that by 2040, travel during rush hour through the regular lanes of this 16-mile stretch of I-405 will take only 29 minutes. The commute can be reduced to 13 minutes if a driver chooses to take the new Express Lanes. Without the widening project, it would take two hours and 13 minutes to travel the same stretch in regular lanes and two hours in the current carpool lanes.

Iteris is leading numerous ITS design and communication infrastructure projects nationwide, enabling smart mobility and smart communities. Iteris’ Transportation Systems business unit provides advanced design, real-time data analytics, and actionable informatics, to safely improve mobility within communities and ready the roadways for connected/autonomous vehicles in smart cities.

About Iteris, Inc.

Iteris is the global leader in applied informatics for transportation and agriculture, turning big data into big breakthrough solutions. We collect, aggregate and analyze data on traffic, roads, weather, water, soil and crops to generate precise informatics that lead to safer transportation and smarter farming. Municipalities, government agencies, crop science companies, farmers and agronomists around the world use our solutions to make roads safer and travel more efficient, as well as farmlands more sustainable, healthy and productive. Visit www.iteris.com for more information.

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,” “should,” “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 timing, budget for the project, impact, and benefits of the awarded contract and the design and implementation services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and 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, our ability to successfully deliver services timely and cost effectively; government funding and budgetary issues and delays; impact of influences and variances of general economic, political, environment, and other conditions; and the potential impact of product and service offerings from competitors and such competitors’ patent coverage and claims. 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).

Contacts

Iteris Contact
Tom Roberts
(949) 270-9572
[email protected]
or
Iteris Investor Contact
Todd Kehrli
(323) 468-2300
[email protected]

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