Ituran Location & Control (ITRN) Reports Q1 EPS of $0.34

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Go back to Ituran Location & Control (ITRN) Reports Q1 EPS of $0.34

Ituran Location and Control Ltd Announces Distribution of a Dividend

May 23, 2016 7:30 AM EDT

AZOUR, Israel, May 23, 2016 /PRNewswire/ --

Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that the Board of Directors approved the distribution of a cash dividend in the amount of $0.17 per share, totaling approximately US$ 3.6 million. The dividend will be paid to shareholders of record as of June 22, 2016. The Company will pay the dividend out on July 6, 2016 net of taxes at the rate of 25%.

In its decision to approve the distribution of the cash dividend, the Board of Directors examined whether the Company meets the distribution criteria according to Israeli... More

Ituran Location and Control Ltd. Presents Results for the First Quarter 2016

May 23, 2016 6:00 AM EDT

AZOUR, Israel, May 23, 2016 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN, TASE: ITRN), today announced its consolidated financial results for the first quarter ended March 31, 2016.

Highlights of the First Quarter

Strong net subscribers adds in the quarter amounting to 37 thousand, reaching 985 thousand subscribers; Revenue of $47.2 million, up 7% year-over-year; Gross margins of 50.4%; Operating profit of $11.5 million (margin of 24.4%), up 10% year-over-year; Generated $5.4 million in operating cash flow; Dividend of $3.6 million declared for the quarter;

First Quarter 2016... More