Iteris,
Inc. (NYSE MKT: ITI), a leader in providing intelligent traffic
management and weather
information solutions, has appointed Andrew Schmidt as vice
president of finance and chief financial officer.
Schmidt joins Iteris after serving as CFO of NASDAQ-listed Smith Micro
Software for nine years, where he was part of an executive team that
drove the company to a worldwide leadership position in connectivity
software. Before joining Smith Micro, Schmidt held CFO roles for several
public companies, including Genius Products and Mad Catz Interactive,
and he also served as vice president of finance for Peregrine Systems.
“Andy has extensive experience with growth companies, particularly those
in the software industry,” said Kevin Daly, interim CEO of Iteris. “His
operational experience, financial acumen and, most importantly, we
anticipate his strategic financial perspective will contribute to our
growing core businesses and the continued development of our
software-based products. I am looking forward to working with Andy on a
broad set of initiatives that can draw upon his unique background and
skill set.”
Schmidt succeeds Craig Christensen, who has served as interim CFO since
July 2014. Christensen will continue serving the company as vice
president and controller, positions he has held since April 2012.
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 throughout the U.S. and internationally. The firm
is headquartered in Santa Ana, California, with offices nationwide and
abroad. For more information, please call 1-888-329-4483 or visit www.iteris.com.
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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 the impact
and expected contribution of our new CFO. 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 retain, integrate and incentivize our CFO;
federal, state, and local government budgetary issues, constraints and
delays; the timing and amount of government funds allocated to overall
transportation infrastructure projects and the transportation industry;
our ability to secure additional Transportation Systems consulting
contracts and successfully complete such contracts on a timely basis;
our ability to specify, develop, complete, introduce, market, and
transition our products and technologies to volume production in a
timely manner; and the impact of general economic, political and other
conditions in the markets we address. 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 2015