Ituran Location And Control Q2 Profit Down - Quick Facts

(RTTNews) - Ituran Location and Control Ltd.'s (ITRN) net profit attributable to the company for the second quarter of 2013 was $6.7 million or $0.32 per share, down from $10.1 million or $0.48 per share in the second quarter of 2012. During the second quarter of 2012, a legal settlement with Leonardo contributed approximately $5 million to the net income.

Operating profit for the second quarter was $10.2 million , an increase of 43% compared with an operating profit of $7.1 million last year.

Revenues for the second quarter of 2013 were $43.2 million, representing a 15% growth from revenues of $37.6 million in the second quarter of 2012. 74% of revenues were from location based service subscription fees and 26% from product revenues.