March 15, 2000 |
Odetics Inc. said it expects to spin off its Iteris Inc. subsidiary, formerly known as Odetics ITS Inc., on March 21 for shareholders of record March 20. Odetics, which is based in Anaheim, said it plans to complete the spinoff by means of a dividend distribution of all of its Iteris common stock to shareholders of Odetics Class A and Class B common stock. Odetics is an Anaheim incubator for technology businesses and maker of telecommunications equipment.
January 28, 2000
The Anaheim incubator for electronics companies posted net income of $20.7 million, or $2.18 a share, for its fiscal third quarter, a turn-around from a $3.8-million loss, or 49 cents a share, in the previous year's third quarter. Revenue fell 6% to $15.2 million for the quarter ended Dec. 31. Separately, Odetics said that a DaimlerChrysler AG subsidiary invested $3.75 million in Iteris Inc.
March 23, 2000 |
Odetics Inc., an Anaheim supplier of communications equipment and services, said it is postponing plans to spin off its Iteris Inc. unit because of volatility in the stock market. Earlier this week, Odetics had announced a two-day delay in its plans to distribute Iteris shares to Odetics shareholders. The unit makes traffic-management safety systems such as a device that warns drivers if their vehicles wander into another lane. Odetics shares fell 31 cents to $18.13.
April 27, 2000
Iteris Inc., a provider of intelligent transportation systems, said Wednesday that it has been awarded a Caltrans contract valued at about $500,000 to develop a new wireless mobile-ramp metering system. The subsidiary of Odetics Inc. said in a press release that the new system to monitor freeway flow and control the onramp signals is expected to be complete within 12 months. The new meters will be deployed in construction areas where ramp meters have not been installed or are not operating.
August 30, 2001 |
Odetics Inc., an Anaheim technology and communications company, said Wednesday that its majority-owned subsidiary, Iteris Inc., has won a $13-million prime contract from the Federal Highway Administration. Odetics said the two-year contract calls on Iteris to provide maintenance and support for the National Intelligent Transportation Systems program, which is aimed at using technology to help solve traffic congestion, safety and productivity problems. Iteris will work with Lockheed Martin Corp.
June 7, 2000 |
The first mass-production order of a video-based lane-change warning system has been shipped by an Anaheim sensors technology firm, Iteris Inc., to DaimlerChrysler in Europe for use as optional equipment on Mercedes-Benz's Actros commercial trucks. The AutoVue lane-departure warning system was developed by Iteris and DaimlerChrysler to help prevent accidents caused by unintended lane changes.