Iteris,
Inc. (NYSE MKT: ITI), a leader in providing intelligent traffic
management information solutions, announced today that the NYSE has
accepted the company’s plan of compliance and granted an extension until
October 15, 2014 to regain compliance. Iteris previously announced that,
on July 17, 2014, it received a letter from the NYSE MKT LLC (the
“Exchange”) indicating that the Exchange has determined that the company
was not in compliance with Sections 134 and 1101 of the Exchange’s
Company Guide due to the company’s inability to file its Annual Report
on Form 10-K for the year ended March 31, 2014 (the “Form 10-K”) with
the SEC by the requisite deadline.
The company was afforded the opportunity to submit a plan of compliance
to the Exchange, which was completed on July 21, 2014 and accepted on
August 8, 2014. Iteris will be subject to periodic reviews by the
Exchange staff during the extension period. Failure to make progress
consistent with the plan or to regain compliance with the continued
listing standards by the end of the extension period could result in the
company being delisted from the NYSE MKT LLC.
Iteris continues to work diligently with its auditors to complete the
fiscal 2014 audit.
About Iteris, Inc.
Iteris,
Inc. (NYSE MKT: ITI) is a leader in providing intelligent
information solutions to the traffic management market. The company is
focused on the development and application of advanced technologies and
software-based information systems that reduce traffic congestion,
provide measurement, management, and predictive traffic and weather
analytics, and improve the safety of surface transportation systems. By
combining its unique IP, products, decades of expertise in traffic
management, hyper-local weather solutions and information technologies,
Iteris offers a broad range of Intelligent Transportation System (ITS)
solutions to customers worldwide. The firm is headquartered in Santa
Ana, California, with offices nationwide and in the Middle East. For
more information, please call 1-888-329-4483 or visit us at www.iteris.com.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
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," "intends," "plans," "seeks," "estimates,"
"may," "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 our ability
to complete the audit of our financial statements for fiscal 2014 and
achieve and maintain compliance with the NYSE MKT continued listing
standards. Such statements 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, the ability of our auditors to complete the audit of our
financial statements on a timely basis; management’s ability to
adequately respond to any follow-up inquiries of our auditor; or the
completion of any additional procedures and/or testing required by our
auditors. 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).
Copyright Business Wire 2014