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Iteris (NASDAQ: ITI) posted fourth quarter EPS of ($ 0.01), up from $ 0.05 last year. Revenue for the quarter was $ 31.7 million, compared to a consensus estimate of $ 31.45 million.
“Our record fourth quarter revenue is a great cornerstone of a strong fiscal year ending March 31, 2021,” said Joe Bergera, President and CEO of Iteris. “Despite the challenges of COVID-19, our ClearMobility strategy has demonstrated measurable operating leverage with 9% revenue growth translating into significant improvements in Fiscal 2021 net income, Adjusted EBITDA and cash flow from operations. In addition, we have made good progress in achieving our ClearMobility roadmap, and the successful acquisition and integration of TrafficCast has accelerated the development of Iteris’ ClearMobility Cloud.
“Based on our product roadmap and record total end order book as we move into fiscal 2022, we expect to gain additional share of the intelligent mobility infrastructure management market, which remains dynamic due to the need for cities and states to modernize aging infrastructure and the desire of various business entities for a better understanding of the infrastructure on which they depend. Therefore, in fiscal 2022, we expect year-over-year revenue growth to accelerate with significant improvements in net income and Adjusted EBITDA, even without any potential for an eventual increase. national infrastructure investment program. “
To view revenue history and revenue data on Iteris (ITI), click here.