Ituran Location & Control (ITRN) Reports Q2 EPS of $0.57

Ituran Location & Control (NASDAQ: ITRN) reported Q2 EPS of $0.57. Revenue for the quarter came in at $57.7 million.

Eyal Sheratzky, Co-CEO of Ituran said, "Our business continues to perform well and in line with our targets. This strong performance was masked this quarter by the impact that currency volatility had on our financial results. Most significant, from a strategic perspective, was our agreement to acquire Road Track, a company we have been working with closely for five years in Brazil and Argentina. Road Track and Ituran, together bring significant synergies for us to leverage, providing significant scale in the telematics market, allowing us to provide a broader service offering into new regions. We have already been working closely together to ensure the acquisition will be a success, and we see many opportunities for cross selling. We see this acquisition as a game changer for Ituran and the telematics industry in Latin America as a whole. We look forward to unlocking and realizing the substantial inherent value over the coming quarters."

For earnings history and earnings-related data on Ituran Location & Control (ITRN) click here.

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