May 4, 2020 / 9:04 PM / 24 days ago

BRIEF-Iteris Reports Q4 Preliminary Results, To Sell Its Agriculture And Weather Analytics Segment

May 4 (Reuters) - Iteris Inc:

* ITERIS REPORTS PRELIMINARY RECORD FINANCIAL RESULTS FOR FISCAL 2020 FOURTH QUARTER AND DEFINITIVE AGREEMENT TO SELL ITS AGRICULTURE AND WEATHER ANALYTICS SEGMENT

* Q4 REVENUE $31.5 MILLION

* ITERIS WILL RECEIVE $12.0 MILLION IN TOTAL CONSIDERATION IN ALL-CASH TRANSACTION

* IN CONJUNCTION WITH SALE, WILL TAKE A RESTRUCTURING CHARGE IN RANGE OF $1.7 MILLION TO $1.9 MILLION IN Q1 OF FISCAL YEAR 2021

* EXECUTED A DEFINITIVE AGREEMENT TO SELL ITS AGRICULTURE AND WEATHER ANALYTICS SEGMENT TO DTN, LLC

* PRELIMINARY TOTAL Q4 REVENUE OF OVER $31.5 MILLION AND TOTAL FULL YEAR REVENUE OF OVER $114.8 MILLION

* PRELIMINARY TOTAL Q4 BOOKINGS OF OVER $28.5 MILLION Source text for Eikon: Further company coverage:

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