Santa Ana-based Iteris Inc. (Nasdaq: ITI), which provides high-tech systems and sensors to improve traffic, said it has been awarded a $4.5 million contract from the Orange County Transportation Authority (OCTA) for a regional smart mobility, safety and sustainability program.
The three-year initiative will improve traffic flow and safety, and reduce carbon emissions in Huntington Beach, Fountain Valley and Santa Ana.
Shares in Iteris fell 1.7% to $4.52 apiece for a market cap of $191.3 million after the announcement about the OCTA contract.
