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Iteris Inc. will synchronize traffic signals and make other timing and infrastructure changes at 59 intersections under a three-year, $3.5 million contract with Orange County Transportation Authority.
The project covers a 16-mile stretch of Brookhurst Street that moves through six cities— Anaheim, Fountain Valley, Fullerton, Garden Grove, Huntington Beach and Westminster—that sees about 38,000 cars daily. The work includes laying fiber-optic communication lines.
Santa Ana-based Iteris (Nasdaq: ITI) provides sensors and systems for transportation and agriculture uses.
It posted a net loss of about $4 million on revenue of $104 million in its last fiscal year, an improvement from a net loss of $5 million on revenue of $96 million the year before, and traded recently at a $176 million market cap.