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Iteris Records 32% YoY Increase in Full-Year Net Bookings for Agriculture and Weather Analytics Solutions

Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced that its Agriculture and Weather Analytics segment recorded $6.3 million in net bookings for the fiscal year ending March 31, 2019, representing a 32% increase from the same prior-year period.

The segment’s full-year net bookings reflect significant and sustained demand for both Iteris ClearAg® and Iteris ClearPath Weather®. ClearAg provides environmental intelligence to agribusinesses and agriculture allied providers, while ClearPath Weather provides predictive roadway intelligence to state and local agencies, as well as commercial entities. Iteris offers both ClearAg and ClearPath Weather on a software-as-a-service (SaaS) basis.

Recent notable Agriculture and Weather Analytics new customer bookings include:

  • A leading crop science company focused in the field of biologics will integrate ClearAg’s environmental intelligence into the crop science company’s crop modeling platform.
  • RiceTec, a leading developer of rice seed technology, will use ClearAg’s machine learning platform to develop advanced rice seed models.
  • A leading international contract research organization in the field of agroscience, Staphyt Agrosciences, selected ClearAg for use in 19 countries.
  • Two irrigation solution providers, including CropMetrics, will integrate ClearAg’s environmental intelligence into their unique irrigation solutions offerings.
  • A national agricultural agency in the UK, the Agriculture & Horticulture Development Board, ingested ClearAg hyperlocal current and forecast weather data into the board’s WeatherHub.
  • Several leading European allied providers, including Hummingbird Technologies and Dacom Farm Intelligence, will embed ClearAg APIs and/or visualization components into their solutions.

“We are excited by the response from our target customer base to the solutions-oriented approach we introduced in FY19,” said Jim Chambers, senior vice president and general manager, Agriculture and Weather Analytics at Iteris. “Looking ahead, we anticipate continued significant demand for our environmental intelligence and predictive roadway intelligence solutions, with a particularly high level of customer interest in ClearAg emanating from the Europe and North America markets.”

About Iteris, Inc.

Iteris is the global leader in applied informatics for transportation and agriculture, turning big data into big breakthrough solutions. We collect, aggregate and analyze data on traffic, roads, weather, water, soil and crops to generate precise informatics that lead to safer transportation and smarter farming. Municipalities, government agencies, crop science companies, farmers and agronomists around the world use our solutions to make roads safer and travel more efficient, as well as farmlands more sustainable, healthy and productive. Visit www.iteris.com for more information and join the conversation on Twitter, LinkedIn and Facebook.

Iteris Forward-Looking Statements

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as “believes,” “anticipates,” “expects,” “outlooks,” “target,” “intends,” “plans,” “seeks,” “estimates,” “may,” “should,” “will,” “can,” and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the success, and benefits of the new customer bookings and the performance, functionality and utility of our products and services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, our ability to provide the products and services on a cost-effective basis; government funding and budgetary issues, and potential related scheduling and funding delays; the impacts of general economic, political, and other conditions in the markets we address; the future adoption of our Agriculture and Weather Analytics technologies in the markets we address; customer’s dedication of resources and ability to achieve market acceptance for its own products and services; and the potential impacts of product and service offerings from competitors and such competitors’ patent coverage and claims. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).

Contacts:

Iteris Contact
David Sadeghi
Tel: (949) 270-9523
Email: dsadeghi@iteris.com

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