- Iteris (NASDAQ:ITI) logged a mixed fiscal Q2, with revenues declining and missing slightly but with losses not as bad as analysts expected.
- Revenues fell more than 3%, to $24.4M. But backlog hit $59.2M, up 18.6% from last quarter.
- The dip was due to the timing of a large Virginia Department of Transportation contract along with "continued issues in the Texas market," says CEO Joe Bergera.
- Operating loss widened to $1.4M from a year-ago loss of $1.1M. Net loss was $1.3M, vs.a year-ago loss of $1M.
- Revenue breakout: Transportation Systems, $12.4M (down 5.6%); Roadway Sensors, $11M (down 2.5%); Agriculture and Weather Analytics, $1.1M (up 21.1%);
- Backlog by line: Transportation Systems, $48.4M (up 18.9% Q/Q); Roadway Sensors, $5.4M (down 13.8% Q/Q); Agriculture and Weather Analytics, $5.4M (up 83.9% Q/Q).
- Previously: Iteris beats by $0.03, misses on revenue (Nov. 06 2018)
- Press release