Ituran Location and Control Ltd. provides location-based mobility technology and vehicle telematics services under the ITRN ticker. The company reports recurring developments in stolen vehicle recovery, fleet management, connected-car services, mobile asset location, and telematics products used for automatic vehicle location and identification.
Ituran news commonly covers subscriber growth, subscription and product revenue trends, quarterly and annual results, dividend and share-repurchase actions, and OEM connectivity agreements in Israel, Latin America, and other markets. Company updates also include IturanMob smart-mobility applications, embedded hardware and backend services for connected vehicles, and the DRIVE startup incubator focused on smart mobility technology.
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Ituran Location and Control Ltd. (NASDAQ: ITRN) has announced a cash dividend of $0.14 per share, amounting to approximately US$3 million. Shareholders of record as of March 21, 2023 will receive the dividend on April 4, 2023, with a tax deduction of 25%. The Board of Directors confirmed this decision after ensuring that the distribution would not compromise the company's operations. Following the payment, retained earnings will be US$166 million, down from US$169 million. The company holds a cash balance of US$27.9 million, alongside US$12.2 million in credit facilities, maintaining a solid financial position.
Ituran Location and Control Ltd. (NASDAQ: ITRN) reported strong financial results for Q4 and FY 2022, with a record revenue of $293.1 million, an 8% year-over-year increase. The subscriber base grew by 185,000 in 2022, reaching a total of 2,066,000 subscribers. Net income rose 8% to $37.1 million. In Q4 alone, revenue was $74.9 million, up 7%, with net income stable at $9.6 million. Management anticipates 2023 subscriber growth of 180,000 to 200,000. The company issued $12 million in dividends and conducted share buybacks worth $8.4 million in 2022, ending the year with $16 million in net cash.
Ituran Location and Control Ltd. (NASDAQ: ITRN) will release its fourth quarter and full year 2022 results on February 28, 2023, followed by a conference call at 9am ET. The call will provide insight into the company's financial performance and management will address investor questions.
Ituran is a leader in mobility technology, primarily offering location-based services. The company boasts over 2 million subscribers across more than 20 countries and is the largest OEM telematics provider in Latin America. The company has approximately 3,000 employees globally, with a strong market presence in Israel and Latin America.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced the release of its third quarter 2022 results on November 21, 2022. A conference call will take place at 9 AM ET on the same day, where management will discuss the results and address investor questions. Ituran is a leader in mobility technology, offering location-based services, including stolen vehicle recovery and fleet management. With a subscriber base nearing 2 million, Ituran holds a significant market position in Israel and Latin America, employing about 3,000 staff globally.
Ituran Location and Control Ltd. (NASDAQ: ITRN) has declared a cash dividend of $0.14 per share, amounting to about US$3 million. Shareholders of record by September 29, 2022 will receive the dividend on October 13, 2022, after a tax deduction of 25%. Following the distribution, retained earnings will decrease from US$155 million to US$152 million. The company currently holds a cash balance of US$32.7 million and maintains adequate financial health to support ongoing operations.
Ituran Location and Control Ltd. (NASDAQ: ITRN) reported its Q2 2022 results, showcasing a 9% year-over-year revenue increase to $73.4 million and a net income of $8.7 million. Subscriber growth reached approximately 1,972,000, with an aftermarket increase of 50,000 subscribers. EBITDA rose 7% to $19.4 million. The company declared a $3 million dividend and spent $3.4 million on share buybacks. Despite currency challenges, subscriber revenue increased by 11%, and gross margin improved in subscription services.