ITRN - Ituran Location GAAP EPS of $0.56 beats by $0.03 revenue of $79.5M

2023-05-24 06:35:01 ET

• Ituran Location press release ( NASDAQ: ITRN ): Q1 GAAP EPS of $0.56 beats by $0.03 .
• Revenue of $79.5M (+10.3% Y/Y).

• 70% of revenues were from location-based service subscription fees and 30% were from product revenues.

  Revenues from subscription fees were $55.8 million, an increase of 11% over first quarter 2022 revenues.

• The subscriber base amounted to 2,115,000 as of March 31, 2023. This represents an increase of 49,000 net over that of the end of the prior quarter, and a net increase of 191,000 year-over-year. During the quarter, there was an increase of 44,000 net in the aftermarket subscriber base and an increase of 5,000 net in the OEM subscriber base.

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