- Ituran Location (NASDAQ:ITRN) reports subscription fees revenue rose 31% to $51.2M in Q3.
- Product revenue grew 31% to $18.7M.
- Subscriber base increased 1.7% Y/Y to 1.781M.
- Adjusted gross margin rate squeezed 710 bps to 47%.
- Adjusted operating margin rate decreased 670 bps to 19.6%.
- Adjusted EBITDA up 10% to $18.73M.
- The company added 20,000 net after-market subscribers during the quarter and there was no change to the number of OEM subscribers.
- Previously: Ituran Location EPS misses by $0.08, misses on revenue (Nov. 25)
Margins suffer at Ituran Location in Q3
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Symbol | Last Price | % Chg |
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ITRN | - | - |
Ituran Location and Control Ltd. |