Iteris (ITI) Tops Q3 EPS by 3c

Iteris (NASDAQ: ITI) reported Q3 EPS of $0.00, $0.03 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $28.7 million versus the consensus estimate of $27.93 million.

“We are pleased to report record total revenue and strong net booking results for the fiscal 2020 third quarter, especially given the period’s typical seasonal softness,” said Joe Bergera, president and CEO. “Each reporting segment contributed to the strong results, with the Transportation Systems segment reporting 35% revenue growth versus the prior year quarter due to strong organic performance, as well as the contribution from Albeck Gerken, Inc., our recent acquisition.

“At this time, we have completed our integration of Albeck Gerken and we are delighted the business continues to meet our expectations. Looking ahead, we anticipate continued long-term improvements in the financial performance of Iteris, driven in large part by our ability to capitalize on favorable secular trends in the market for smart mobility infrastructure management solutions.”

For earnings history and earnings-related data on Iteris (ITI) click here.

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