Iteris Swings to Fiscal 3Q Profit

Iteris Inc., a provider of traffic management technology, said it posted a profit in its third fiscal quarter.

The company's net income was $700,000, or 2 cents per share, compared with a loss of $7 million, or 20 cents, a year earlier, the company said late Thursday.

Net sales and contract revenue climbed 24% to $14.9 million for the fiscal quarter ended Dec. 31, Iteris said.

Operating income was $400,000, compared with a loss of $7.9 million last year.