More on Ituran Location's Q3

|About: Ituran Location and Con... (ITRN)|By:, SA News Editor

Ituran Location (NASDAQ:ITRN) reports Location-based services revenue rose 18% to $43.85M in Q3, primarily due to increase in the subscriber base.

Wireless communications product revenue grew 14% to $17.74M.

Net subscriber +25K in the quarter.

Subscriber base expanded 9.9% Y/Y to 1,137K.

Gross margin rate slipped 40 bps to 49.6%.

Operating margin rate improved  70 bps to 22.6%.

EBITDA margin rate up 60 bps to 28.3%.

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