maintenance decision needs. The company’s iPerform segment includes its performance measurement and information management solutions, including all of the operations of Berkeley Transportation Systems, Inc. (BTS). BTS specializes in transportation performance measurement. The BTS performance measurement system utilizes its data collection, diagnostic, fusion and warehousing platform to aggregate and compute performance measurements. iPeMS is a information management software suite that utilizes a range of data resources and analytical techniques to determine traffic patterns, permitting the analysis and management of traffic infrastructure resources. iPeMS is also capable of providing users with predictive traffic analytics and visualization and animation features based on historical traffic conditions. This segment also includes the operations of Meridian Environmental Technology, Inc. (MET). MET specializes in 511/ advanced traveler information systems, as well as ClearPath Weather management tools that allow users to create solutions to meet roadway maintenance decision needs. Seasonality With the addition of MET, the company experienced seasonality particularly related to certain ClearPath Weather services its first and second fiscal quarters (year ended March 31, 2014), mainly because ClearPath Weather services are generally not required in the summer months when weather conditions are typically less severe. Sales, Marketing, and Principal Customers The company sells its Roadway Sensors products through direct and indirect sales channels. In the territories where it sells direct, it uses a combination of its own sales personnel and an outside sales organization to sell, oversee installations and set-up issues and support its products. The company’s indirect sales channels consist of a network of independent dealers in the U.S. and certain foreign locations, who sell integrated systems and related products to the traffic management market. The company’s independent dealers are trained in, and primarily responsible for, sales, installation, set-up and support of its products, maintain an inventory of demonstration traffic products from various manufacturers and sells directly to government agencies and installation contractors. The company markets and sells its Transportation Systems services and solutions and iPerform solutions directly to government agencies. Suppliers The company’s key suppliers include CTS Electronics Manufacturing Solutions, Inc.; Sony Electronics, Inc.; and LG Electronics, Inc. Research and Development For the year ended March 31, 2014, the company’s research and development costs and expenses included approximately $4.0 million. Intellectual Property and Proprietary Rights The company holds three U.S. patents, four foreign patent applications, six patent applications in the U.S., and eight provisional patent filings. One U.S. patent, which expires in May 2019, is for general technology related to CMOS sensors. Two U.S. patents, which expire between 2014 and 2029, three foreign patent applications, three U.S. patent applications, and one provisional patent filing relate specifically to its Roadway Sensors technology. One pending foreign patent, three U.S. patent applications, and seven provisional patent filings relate specifically to the company’s iPerform technology. Abacus, ClearPath, ClearPath Agriculture, ClearPath Weather, Edge, EdgeConnect, iPerform, iPeMS, Iteris, IterisPeMS, Pico, P10, P100, RZ-4, SmartCycle, SmartSpan, Vantage, VantageNext, VantageView, Vantage Vector, Velocity, VersiCam, and others are the trademarks of the company. History Iteris, Inc. was founded in 1969. The company was incorporated in Delaware in 1987.
(ITI:Consolidated issues listed on NYSE MKT LLC)
1700 Carnegie Avenue
Santa Ana, CA 92705
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