Ituran Location & Control (ITRN) Reports Q2 EPS of $0.36

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Go back to Ituran Location & Control (ITRN) Reports Q2 EPS of $0.36

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

August 11, 2016 6:00 AM EDT

AZOUR, Israel, Aug. 11, 2016 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN, TASE: ITRN), today announced its consolidated financial results for the second quarter ended June 30, 2016.

Highlights of the Second Quarter

Strong net subscribers adds in the quarter amounting to 27 thousand, reaching 1,012,000 subscribers; Revenue of $49.3 million, up 12% year-over-year; Gross margins of 51.7%; Operating profit of $12.0 million (margin of 24.3%), up 19% year-over-year; Generated $9.6 million in operating cash flow; Dividend of $3.8 million declared for the quarter;

Second Quarter 2016... More