Santa Ana-based Iteris Inc. last week celebrated a good fourth-quarter earnings and a new software product that the maker of sensors and other devices for the transportation and agriculture industries said was 20 years in the making.
ClearGuide is a platform designed to ingest large amounts of complex data from sensors, Internet of Things devices, and third-party providers, as well as a wide array of emerging data from sources including connected vehicles. It was introduced last week at the Intelligent Transportation Society of America’s annual conference in Washington, DC.
The platform enables transportation agencies and commercial entities, such as construction and engineering firms, to actively monitor traffic congestion.
“With Iteris ClearGuide, transportation agencies of any size can optimize their mobility operations using real-time, historical and contextual transportation analytics to identify problem areas and their root causes, and ultimately improve safety and mobility for all road users,” Ramin Massoumi, senior vice president and general manager, Transportation Systems at Iteris, said in a statement.
Iteris (Nasdaq: ITI) collects, aggregates and analyzes data on traffic, roads, weather, water, soil and crops to generate precise informatics that lead to safer transportation and smarter farming.
The company earlier this month reported fourth-quarter revenue climbed 3.2% to $26.1 million, topping the average analyst estimate of $24.4 million. It reported its operating loss narrowed from $2.8 million a year ago to $2.5 million.
Chief Executive Joe Bergera said the 23.5% increase in fiscal 2019 net bookings $107 million is “further confirmation that our business fundamentals are solid and aligned with market trends.”
Shares rose after the report to around $5.40 and are up 45% year-to-date for a $180 million market cap.
