Iteris (ITI) Sees Q1 Revenue of $23.5M-$24.5M

Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced preliminary revenue results for the first quarter of fiscal 2017 that exceed analyst expectations.

For the first quarter of fiscal 2017, ended June 30, 2016, Iteris expects total revenue to be in the range of $23.5 to $24.5 million, an increase of between 28% and 33% year over year. Iteris also expects to report improved operating income for the first quarter.

Joe Bergera, President and CEO of Iteris, said, “We are pleased to demonstrate continued strong acceleration across all our business segments. Iteris is focused on two large end-markets with substantial growth potential. Over the past few quarters, we have put in place a strong foundation to capitalize on the powerful secular trends in both our transportation and agriculture markets. We are pleased to see our hard work manifest itself with significant growth across all of our business segments and improved operating income.”

Iteris has not finalized its financial statement review process for the first fiscal quarter of 2017. As a result, the information in this release is preliminary and based upon the information available to Iteris as of the date of this release. During the course of Iteris’ review process, items may be identified that would require Iteris to make adjustments, which could be material. As a result, the preliminary selected financial information above is forward-looking information and subject to risks and uncertainties, including possible adjustments to the preliminary unaudited financial information.

Fiscal 2017 First Quarter Earnings Conference Call

Iteris plans to report its final unaudited financial results for the first quarter of fiscal 2017 and host a conference call and webcast on August 4, 2016. The time and access details for the conference call and webcast will be provided in advance of this date.

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