Quarterhill will perform maintenance on electronic screening systems and data collection systems at six weigh stations and 28 traffic data sites.
This contract extends Quarterhill's software services through the provision of a central server, analytics software, and a web-based data repository.
TORONTO, July 24, 2024 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), announced today the award of a $1.2 million contract to provide maintenance, training, and emergency repair services for the South Dakota Department of Transportation ("SDDOT") through December 2026. All Financial information in this press release is reported in U.S. dollars unless otherwise indicated.
This contract involves the scheduled maintenance and operational support of the electronic screening ("E-Screening") systems at six weigh stations in the state: Jefferson, Tilford, Sisseton, Rapid City, Blunt, and Valley Springs. Quarterhill will administer semi-annual maintenance visits, offering materials and service parts for the upkeep and smooth operation of major system components and ancillary equipment.
Maintenance activities encompass rigorous inspection and servicing of in-road sensors, Weigh-In-Motion ("WIM") scales, electronic interfaces, computer systems, and vehicle classification algorithms. The Company will conduct essential system calibrations, ensuring verification of system and interface operations.
As part of maintaining a robust E-Screening system, Quarterhill will deliver initial and refresher training courses to SDDOT operators, enhancing their capability to manage the system effectively. Emergency repair services will also be readily available to ensure continuity of operations.
Additionally, Quarterhill will extend its software services by operating and maintaining a central server to seamlessly exchange current information from the Federal Motor Carrier Safety Administration's SAFER database to the Roadside Operations Computers at all state-operated E-Screening systems. The contract further includes licenses for the iAnalyze reporting software and access to the VI2M? web-based data repository portal, expanding SDDOT's analytics capabilities.
A substantial part of the contract also includes maintenance and calibration efforts for 28 traffic data collection WIM systems located throughout South Dakota, a testament to Quarterhill's commitment to integrating technology and service excellence in transportation infrastructure.
On the announcement of the new contract, Chuck Myers, CEO of Quarterhill, stated, "We are thrilled to extend our relationship with SDDOT. This partnership is a testament to our continued leadership in transportation technology and our unwavering commitment to providing first-rate maintenance and support services as well as a growing stable of data analytics applications. Quarterhill is dedicated to ensuring that SDDOT's E-Screening and data systems operate at peak efficiency, helping to maintain roadway safety and streamline traffic operations across the state."
This contract highlights Quarterhill's commitment to delivering cutting-edge technology and professional services. By promoting innovative solutions in transportation technology and supporting the infrastructure critical to public safety and economic productivity, Quarterhill is assisting the SDDOT in achieving its mission of providing a safe and efficient public transportation system.
About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.
Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of ?Quarterhill based on future economic conditions and courses of action. All statements other ?than statements of historical fact may be forward-looking statements. Such forward-looking statements ?are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ??"plan", "goal", "expect" and similar expressions.
Forward-looking statements involve known and unknown risks, assumptions, ?uncertainties and other factors that may cause actual results or events to differ materially from those ?anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ?the forward-looking statements are reasonable, but no assurance can be given that these expectations ?will prove to be correct and such forward-looking statements included in this news release should not be ?unduly relied upon.? Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
