SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NYSE Amex: ITI), a leader in traffic management focused on the development and application of advanced technologies, has introduced Abacus 2.0, its next generation traffic incident detection and data collection product.
Abacus 2.0 provides traffic engineers and departments of transportation a software-based “force multiplier” that leverages existing camera systems to collect real-time traffic data, rapidly identify incidents, and gain enhanced traffic flow information in a ready-to-use graphical user interface (GUI) format.
This next generation product utilizes existing surveillance cameras in tunnels, highways, and arterial roads to perform roadway data collection. Abacus 2.0 now supports up to twelve video feeds, boasts an integrated web-based GUI for central control, and allows for data/video sharing through any web browser to provide users with an integrated view of roadway performance. Additionally, the new automated incident detection feature alerts operators of an event by e-mail, SMS text messaging, or via notification delivered to the traffic management center software.
“The enhancements made to Abacus 2.0 are a logical extension of a product that effectively enables domestic and international agencies to leverage their current surveillance cameras and turn them into real-time data collection and incident detection systems,” said Abbas Mohaddes, president and CEO of Iteris. “We believe this leverage can translate into cost savings for these agencies, which we expect will be a key driver of the product’s demand.”
The product’s web-based interface allows agencies to maximize the benefit of its output from a traffic management center as well as remote or emergency locations. Abacus 2.0 automatically monitors a large variety of incidents, including: slow vehicles, stopped vehicles, roadway debris, wrong way drivers, pedestrians, and more. Rapid incident detection can minimize emergency response time, which typically reduces the extent of injuries and provides a measurable reduction in carbon emissions by restoring traffic flow faster.
The system’s data collection capabilities are expected to save transportation agencies a considerable amount of time and personnel field exposure, since they would be less likely to leave the traffic management center. Data collected is transformed immediately into a configurable GUI reporting interface that could further reduce personnel costs by eliminating analysis time. Abacus 2.0 effectively collects volume, speed, occupancy, lane-by-lane, and vehicle classification data.
Abacus 2.0 is a complete hardware and software traffic management solution supported by an extensive network of domestic and international Iteris dealers and sales consultants. Its predecessor, Abacus 1.0, has successfully been installed by multiple agencies both domestically and abroad.
About Iteris, Inc.
Iteris, Inc. is a leader in traffic management focused on the development and application of advanced technologies that reduce traffic congestion, minimize the environmental impact of traffic congestion, and improve the safety of surface transportation systems infrastructure. Combining outdoor image processing, traffic engineering, and information technology, Iteris offers a broad range of Intelligent Transportation Systems and driver safety solutions to customers worldwide. Iteris is headquartered in Santa Ana, California with offices throughout North America and in Europe and Asia. Investors are encouraged to contact us at 888-329-4483, or 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 the performance, acceptance, and expected benefits of our technology including our Abacus 2.0 software, our market opportunities both domestically and abroad, our strategies, and our future prospects. These statements are subject to change and we undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, our 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 market acceptance of our technologies and of the products and systems that incorporate our technologies; the timing and successful completion of customer qualification of our products and the risks of non-qualification; market acceptance of our Abacus 2.0 software and the systems that incorporate the product; our ability to specify, develop, complete, introduce, market, and transition and integrate Abacus 2.0 into our customers and clients existing infrastructure and traffic management systems; the potential unforeseen impact of product offerings from competitors and other competitive pressures; and the general economic and political conditions and specific conditions in the markets we address, including the general economic slowdown and volatility in industries and 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).