Ituran Location & Control (ITRN) Tops Q4 EPS by 4c, Revenues Miss

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Ituran Location and Control Ltd. Presents Results for Full Year and Fourth Quarter 2018

March 11, 2019 7:00 AM EDT

AZOUR, Israel, March 11, 2019 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN) (TASE: ITRN), today announced its consolidated financial results for the fourth quarter and full year ended December 31, 2018.

Highlights of 2018

Closed acquisition of Road Track Holdings in mid-September; Number of subscribers increased to 1,770,000 at year-end; Revenue of $253.3 million, up 8% year-over-year; Net income of $64.5 million, up 47% year-over-year; Adjusted EBITDA of $79.2 million (31.2% of revenues), up 13% year-over-year; Generated $53.2 million in full year operating cash flow; Total dividends of $20 million declared to shareholders for 2018;... More