City of Glendale Selects Meyer, Mohaddes Associates For Transit Priority System.Business Editors ANAHEIM, Calif.--(BUSINESS WIRE)--Nov. 8, 2000 Iteris Inc., a subsidiary of Odetics Inc. (Nasdaq:ODETA)(Nasdaq:ODETB) Wednesday announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Meyer, Mohaddes Associates Inc. (MMA (Microcomputer Managers Association, Inc.) A membership organization with chapters throughout the U.S. that was devoted to educating personnel responsible for personal computers. It disbanded in 1996. Mma - A fast Mathematica-like system, in Allegro CL by R. Fateman, 1991. ) has been selected by the city of Glendale, Calif. for the design, implementation and integration of its Transit Priority "Demonstration" System. Terms and conditions of the final award of this contract valued at more than $820,000 are yet to be disclosed. This MTA-funded demonstration project will implement transit priority service at traffic signals in a selected pilot area of Glendale. The innovation sought by the city on this project is for the priority requests to be handled centrally at the city's new computerized traffic control system. "MMA/Iteris will provide a fully deployed traffic signal priority system," said Abbas Mohaddes, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MMA. "Upon successful completion of the demonstration project, the city of Glendale plans to deploy a citywide system that will handle transit vehicles from the city's own Beeline bee·line n. A direct, straight course. intr.v. bee·lined, bee·lin·ing, bee·lines To move swiftly in a direct, straight course. system and potentially from other transit systems operating in the city. This multi-modal and area-wide approach to improve travelers' experiences through reduction in travel time is part of our overall strategy in support of Iteris' Telematics effort and Personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. Traveler Information (PTI PTI - Portable Tool Interface ) initiative," said Mohaddes. The city of Glendale selected MMA/Iteris because of its experience in transit priority, in system integration and its history of innovation. "This system will not be utilizing any field-deployed elements, as has been traditional for obtaining priority capabilities at traffic signals," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Jano Baghdanian, the city's traffic and transportation manager. "Additionally, because the transit vehicles are to be monitored centrally, we will gain a tremendous amount of fleet management capabilities with the system as well." About Iteris Inc. Iteris, a subsidiary of Odetics, is a leading provider of advanced information, software and sensor technologies that improve the efficiency and safety of surface transportation. Iteris has combined information technology, system integration and applied sensors to offer a broad range of telematics and transportation solutions. For more information, see the Iteris Web site at http://www.iteris.com. About Odetics Inc. Odetics is a California-based, high-technology incubator incubator, apparatus for the maintenance of controlled conditions in which eggs can be hatched artificially. Incubator houses with double walls of mud, a fireroom, and several compartments each holding about 6,000 hens' eggs were developed in ancient times; the with a mission to nurture NURTURE. The act of taking care of children and educating them: the right to the nurture of children generally belongs to the father till the child shall arrive at the age of fourteen years, and not longer. Till then, he is guardian by nurture. Co. Litt. 38 b. and develop its businesses to be spun-off to stockholders. Odetics' current companies develop software- and hardware-based solutions for the television broadcast, video security, telecommunications and telematics markets. Odetics' headquarters are located in Anaheim with additional operations in Europe and Asia. IMPORTANT NOTICE: This news release contains statements, which may be deemed to be forward looking. Actual results could differ materially from those projected in the forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as a result of risk factors such as: short product lives, technological shifts, current technical issues that cannot be resolved on a timely basis, component availability, competition (including new and directly competitive products from others), pricing pressures, incorrect assumptions regarding market demand, the significant uncertainty of market acceptance of new products by both distributors and end-user customers, and the inability of the company to execute its incubator strategy including the completion of initial public offerings of its subsidiaries. Investors are strongly encouraged to review the risk factors set forth in the company's last filed Forms 10-K and 10-Q. |
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