Iteris is tuned up
Backup Cams on Automobiles: Why Isn't This A Law?
OK, that is a bit self serving as I am long Iteris (ITI). Today the company closed up 25% on news of 17% sales growth, profitability, and a better outlook. This is one of those companies I did a lot of research on, liked a lot, but was really concerned about the debt load. Needlesstosay, today I am kicking myself for only buying 2000 shares (@ 2.10). The company is firing on on cylinders with prudent use of the gas pedal - unlike when I invested in it back in Dec.06. What drew me into this stock was my wife's purchase of a Lexus Rx330 that has a backup cam that appears when you are in the reverse gear. We have subsequently (cough, she has subsequently) bought a Toyota minivan that also beeps when you approach an object. These two features now have me worried the rare times I back up my Benz, as it doesn't have the warning systems. I don't understand why cams on cars are not required equipment- Anyway, hat tip the the management team at ITI! Great quarter. Let's keep it rolling!!!
