This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Iteris Reports Fiscal Third Quarter 2013 Results

Iteris, Inc. (NYSE MKT: ITI), a leader in providing intelligent traffic management information solutions, reported financial results for its fiscal third quarter ended December 31, 2012. Total revenues for the fiscal third quarter decreased 6% to $14.0 million compared to $14.9 million in the same year-ago quarter. Net income in the fiscal third quarter was $1.1 million or $0.03 per share, compared to $747,000 or $0.02 per share in the year-ago quarter. Loss from continuing operations was $294,000 or $(0.01) per share in the fiscal third quarter, compared to income from continuing operations of $618,000 or $0.02 per share in the year-ago quarter.

Fiscal Q3 2013 Highlights
  • Selected to provide on-call services for two five-year Federal Highway Administration (FHWA) contracts valued at up to $67.6 million and $12.6 million, respectively.
  • Recorded a $1.4 million after-tax gain as a result of deferred payments and earn-outs from the sale of the Vehicle Sensors segment. Gross proceeds of $1.8 million were collected, bringing the company‚Äôs cash position to $19.7 million as of December 31, 2012.
  • Total backlog was $38.0 million which included Transportation Systems backlog of $31.5 million, iPerform backlog of $3.3 million, and Roadway Sensors backlog of $3.2 million. This compares to total backlog of $32.9 million in the same year-ago quarter and $41.2 million in the previous quarter.
  • Signed $4.9 million in new Transportation Systems contracts, bringing total backlog to $31.5 million compared to $29.7 million in the same year-ago quarter.

Fiscal Q3 2013 Financial Results

The decrease in revenues, as noted above, in the fiscal third quarter was primarily due to a 23% decline in Roadway Sensors net sales as a result of delays in customer orders and the effects of Hurricane Sandy.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs