Important factors that may cause such a difference include, but are not limited to, our ability to specify, develop, and complete our technologies in a timely manner; budget constraints and changing governmental priorities; the timing and successful completion of this contract; the potential unforeseen impact of product and service offerings from competitors and other competitive or governmental pressures; and the general economic, political, and specific conditions in the markets we address. 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).
Iteris, Inc. (NYSE Amex:ITI), the leader in providing intelligent traffic management information solutions, has been awarded an Intelligent Transportation Systems (ITS) Integration Services contract from the City of Oxnard, Calif., for deployment of the city’s ITS Master Plan. The contract is approved for $1.4 million. Since 2006, Iteris has been providing ITS services to the City of Oxnard. The six-year partnership began with the development of the city’s ITS Master Plan, followed by detailed design of the citywide ITS, and now the integration and deployment of the citywide ITS. Under the contract, Iteris is responsible for procurement and integration of required equipment at 140 of the city’s signalized intersections and select facilities, design-build of the city’s new Traffic Management Center, and systems acceptance testing. The initial contract is valued at $1.4 million and has a ceiling of $1.7 million if all options are exercised. Work on the project is expected to begin immediately. “The City of Oxnard has demonstrated a progressive commitment to improving transportation management in the region,” said Abbas Mohaddes, president and CEO of Iteris. “We are delighted to continue assisting the city as they establish their leadership and commitment to improved mobility though the use of ITS strategies.” About Iteris, Inc. Iteris Inc. is the leader in providing intelligent information solutions to the traffic management market. We are focused on the development and application of advanced technologies and software-based information systems that reduce traffic congestion, provide measurement, management, and predictive traffic analytics and improve the safety of surface transportation systems. By combining our patented products, information technologies, and decades of expertise in traffic management, we offer a broad range of Intelligent Transportation System (“ITS”) solutions to customers worldwide. The firm is headquartered in Santa Ana, California with offices nationwide and in the Middle East. For more information, please call 1-888-329-4483 or visit www.iteris.com. About the City of Oxnard, CA Situated in the southern portion of California, Oxnard is the 19th most populous city in California and the most populous in Ventura County. Founded in 1903, it is the most populous city in the Oxnard-Thousand Oaks-Ventura metropolitan area. The city lies approximately 35 miles west of the Los Angeles city limits, and is part of the larger Greater Los Angeles combined statistical area. The population of Oxnard is 197,899 as of the 2010 U.S. Census. For more information, please visit www.ci.oxnard.ca.us. 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 success and timing of this contract and our future prospects.