Ituran Location and Control Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 27, 2023 at 06:30 am EST
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Ituran Location and Control Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 81.05 million compared to USD 72.66 million a year ago. Net income was USD 12.51 million compared to USD 10.06 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 0.49 a year ago. Diluted earnings per share from continuing operations was USD 0.63 compared to USD 0.49 a year ago.
For the nine months, revenue was USD 242.17 million compared to USD 218.12 million a year ago. Net income was USD 36.12 million compared to USD 27.53 million a year ago. Basic earnings per share from continuing operations was USD 1.8 compared to USD 1.35 a year ago. Diluted earnings per share from continuing operations was USD 1.8 compared to USD 1.35 a year ago.
Ituran Location and Control Ltd. is a provider of location-based services, consisting of stolen vehicle recovery (SVR), fleet management services and other tracking services. The Company also provides wireless communication products used in connection with its location-based services and various other applications. Its operations consist of two segments: location-based services and wireless communications products. Its location-based services segment consists of its SVR and tracking services, fleet management and value-added services consisted of personal locater services and concierge services. Its wireless communications products segment consists of short and medium range two-way machine-to-machine wireless communications products that are used for various applications, including automatic vehicle location (AVL) and automatic vehicle identification. It primarily provides its services, as well as sells and leases its products in Israel, Brazil, Argentina and the United States.
ITURAN LOCATION AND CONTROL LTD. 
