Exhibit 99.1

ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

ITURAN LOCATION AND CONTROL LTD. PRESENTS

RESULTS FOR THE FULL YEAR & FOURTH QUARTER 2015

Record Subscriber Growth of 131k in 2015 with Revenue of $176m & EBITDA of $53m

AZOUR, Israel – February 24, 2015 – Ituran Location and Control Ltd. (NASDAQ: ITRN, TASE: ITRN), today announced its consolidated financial results for the fourth quarter and full year ended December 31, 2015.

Highlights of 2015

· Record net subscribers adds during 2015 amounted to 131 thousand, ending the year with 948 thousand subscribers;

· Full year revenue reached $176 million;

· Gross and operating margins of 51.2% and  23.1%, respectively;

· EBITDA of $52.6 million or 30.0% of revenues;

· Generated $35.9 million in operating cash flow;

· Total dividends of $16 million issued to shareholders for 2015;

· Ended 2015 with $28.9 million in net cash (including marketable securities);

Highlights of the Fourth Quarter

· Strong net subscribers adds in the quarter amounting to 33 thousand;

· Revenue of $43.8 million;

· Gross margins of 50.9% and operating margins at 23.6%;

· EBITDA of $14.2 million or 32.3% of revenues;

· Generated $7.7 million in operating cash flow;

· Dividend of $6.5 million declared for the quarter;

Fourth Quarter 2015 Results

Revenues for the fourth quarter of 2015 were $43.8 million, representing an increase of 1% from revenues of $43.5 million in the fourth quarter of 2014. The significant strengthening of the US Dollar versus the Brazilian Real, Argentinean Peso as well as the Israeli Shekel, compared with the level during the fourth quarter of 2014 reduced the overall revenue level in US Dollars. Excluding the exchange rate impact, the increase in revenues would have been 20% over the fourth quarter of last year. 73% of revenues were from location based service subscription fees and 27% from product revenues.

Revenues from subscription fees decreased 3% over the same period last year. In local currency terms, subscription fees increased 22%, primarily due to the growth in the subscriber base which expanded from 817,000 as of December 31, 2014, to 948,000 as of December 31, 2015.

Product revenues increased by 10% compared with the same period last year. In local currency terms, product revenues grew by 14% compared with product revenues reported in the fourth quarter of 2014.

Gross profit for the fourth quarter of 2015 was $22.3 million (50.9% of revenues), a decrease of 6% compared with $23.7 million (54.4% of revenues) in the fourth quarter of 2014. The decrease in the gross margin was mainly due to the weakening of the Brazilian Real and the Israeli Shekel versus the US Dollar. In addition, costs of service revenue increased due to the fast growth in subscribers in the past few quarters.

ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

Operating profit for the fourth quarter of 2015 was $10.3 million (23.6% of revenues), an increase of 3% compared with an operating profit of $10.0 million (22.9% of revenues) in the fourth quarter of 2014. Excluding the impact of the change in exchange rates over the period, the operating profit would have increased 30% over the fourth quarter of 2014.

EBITDA for the quarter was $14.2 million (32.3% of revenues), an increase of 1% compared to an EBITDA of $14.1 million (32.3% of revenues) in the fourth quarter of 2014. Excluding the impact of the change in exchange rates over the period, the EBITDA would have increased 27% over the fourth quarter of last year.

Net profit was US$6.2 million in the fourth quarter of 2015 (14.1% of revenues) or fully diluted EPS of US$0.29. This is compared with a net profit of US$7.0 million (16.1% of revenues) or fully diluted EPS of US$0.33 in the fourth quarter of 2014. Excluding the impact of the change in exchange rates over the period, the net profit would have increased 15% over the fourth quarter of last year.

Cash flow from operations during the quarter was $7.7 million.

Full Year Results

Revenues for 2015 reached $175.6 million, a decrease of 4% compared with revenues of $182.1 million in 2014. The subscriber base grew by a record 131,000, net during 2015. Excluding the impact of the change in exchange rates over the past year, the revenues would have increased 15% over 2014.

Gross profit for 2015 was $89.9 million (51.2% of revenues), compared with $97.1 million (53.3% of revenues) in 2014.

Operating profit for 2015 was $40.6 million (23.1% of revenues) compared with an operating profit of $45.9 million (25.2% of revenues) in 2014. Excluding the impact of the change in exchange rates over the period, the operating profit would have increased 11% over last year.

EBITDA for the year was $52.6 million (30.0% of revenues) compared to an EBITDA of $58.1 million (31.9% of revenues) in 2014, a decrease of 9%.  Excluding the impact of the change in exchange rates over the past year, the EBITDA would have increased 14% over last year.

Share in the loss of affiliates, net was $2.4 million in 2015, compared with $0.4 million last year. The increase was due primarily to the investment in IRT, Ituran’s joint venture providing Telematic services in Brazil. This business is expected to become accretive in 2017.

Net income in 2015 was $25.0 million (14.2% of revenues) or fully diluted earnings per share of $1.19. This is compared with a net income in 2014 of $30.4 million (16.7% of revenues) or fully diluted earnings per share of $1.45. Excluding the impact of the change in exchange rates over the period, the net profit would have increased 5% over the fourth quarter of last year.

Cash flow from operations for 2015 was $35.9 million.

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ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

As of December 31, 2015, the Company had net cash, including marketable securities, of $28.9 million or $1.38 per share. This is compared with $40.8 million or $1.94 per share as at December 31, 2014.

Dividend

For the fourth quarter of 2015, a dividend of $6.5 million was declared in line with the Company’s stated policy of issuing at least 50% of net profits in a dividend, on a quarterly basis.

For the full year of 2015, the dividend issued including that of the fourth quarter of 2015, was $16.0 million, representing 64% of the full year net income.

Eyal Sheratzky, Co-CEO of Ituran said, “Despite the currency headwinds which affected our financial results in 2015, we had an excellent year, showing strong growth in local currency terms in the main territories in which we operate. In particular, we grew our subscriber base by 131 thousand, net, since last year, which is well ahead of our previous average of between 60 and 80 thousand per year. This very fast growth has led us to increase operating expenses in 2015, and in the fourth quarter we already began to reap the fruits of our current accelerated subscriber growth.”

Conference Call Information

The Company will also be hosting a conference call later today, February 24, 2015 at 9am Eastern Time. On the call, management will review and discuss the results, and will be available to answer investor questions.

To participate, please call one of the following teleconferencing numbers. Please begin placing your calls a few minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

US Dial-in Number: 1 888 407 2553

ISRAEL Dial-in Number: 03 918 0610

CANADA Dial-in Number: 1 866 485 2399

INTERNATIONAL Dial-in Number:  +972 3 918 0610

at:

9:00am Eastern Time, 6:00am Pacific Time, 4:00pm Israel Time

For those unable to listen to the live call, a replay of the call will be available from the day after the call in the investor relations section of Ituran’s website.

Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Act of 1933, as amended.  These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.

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ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

About Ituran

Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security. Ituran’s subscriber base has been growing significantly since the Company’s inception to over 948,000 subscribers distributed globally. Established in 1995, Ituran has over 1,500 employees worldwide, provides its location based services and has a market leading position in Israel, Brazil, Argentina and the United States.

Company Contact	International Investor Relations
Udi Mizrahi udi_m@ituran.com VP Finance, Ituran (Israel) +972 3 557 1348	Ehud Helft ituran@gkir.com GK  Investor Relations (US) +1 646 201 9246

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ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

Consolidated Financial Statements

as of December 31, 2015

ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

Consolidated Financial Statements

As of December 31, 2015

Table of Contents

	Page
Consolidated Financial Statements:
Balance Sheets	2-3
Statements of Income	4
Statements of Cash Flows	5-6

CONSOLIDATED BALANCE SHEETS

	US dollars
	December 31,
(in thousands)	2015		2014
Current assets
Cash and cash equivalents		27,016		38,418
Investment in marketable securities		2,035		2,362
Accounts receivable (net of allowance for doubtful accounts)		27,436		27,960
Other current assets		22,437		22,318
Inventories		12,781		12,164
		91,705		103,222
Long-term investments and debit balances
Investments in affiliated company		4,705		1,016
Investments in other company		78		79
Other non-current assets		1,166		2,091
Deferred income taxes		2,279		2,886
Funds in respect of employee rights upon retirement		7,174		6,642
		15,402		12,714
Property and equipment, net		31,514		31,908
Intangible assets, net		26		452
Goodwill		3,356		4,041
Total assets		142,003		152,337

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CONSOLIDATED BALANCE SHEETS

	US dollars
	December 31,
(in thousands)	2015		2014
Current liabilities
Credit from banking institutions		155		-
Accounts payable		10,466		11,658
Deferred revenues		9,210		9,401
Other current liabilities		21,750		25,253
		41,581		46,312
Long-term liabilities
Liability for employee rights upon retirement		10,637		10,229
Provision for contingencies		622		-
Deferred revenues		973		1,063
Deferred income taxes		-		150
Other non-current liabilities		369		-
		12,601		11,442
Equity:
Stockholders' equity		83,698		90,696
Non - controlling interest		4,123		3,887
Total equity		87,821		94,583
Total liabilities and shareholders’ equity		142,003		152,337

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CONSOLIDATED STATEMENTS OF INCOME

	US dollars						US dollars
(in thousands	Year ended December 31,						Three months period ended December 31,
except per share data)	2015			2014			2015			2014
Revenues:
Location-based services		127,683			133,692			32,088			32,955
Wireless communications products		47,945			48,435			11,703			10,592
		175,628			182,127			43,791			43,547
Cost of revenues:
Location-based services		46,823			46,852			11,897			11,325
Wireless communications products		38,924			38,142			9,616			8,531
		85,747			84,994			21,513			19,856
Gross profit		89,881			97,133			22,278			23,691
Research and development expenses		2,401			2,526			702			631
Selling and marketing expenses		9,303			9,264			2,391			2,481
General and administrative expenses		37,801			38,617			9,126			9,667
Other expenses, net		(268	)		856			(251	)		919
Operating income		40,644			45,870			10,310			9,993
Financing income, net		1,189			1,704			415			489
Income before income taxes		41,833			47,574			10,725			10,482
Income tax expenses		(12,822	)		(14,246	)		(3,165	)		(2,873	)
Share in losses of affiliated company, net		(2,439	)		(421	)		(957	)		(113	)
Net income for the period		26,572			32,907			6,603			7,496
Less:Net income attributable to non-controlling interest		(1,601	)		(2,478	)		(421	)		(482	)
Net income attributable to the  company		24,971			30,429			6,182			7,014
Basic and diluted earnings  per Share  of attributable  to company’s Stockholders		1.19			1.45			0.29			0.33
Basic and diluted weighted average Number of shares outstanding		20,968			20,968			20,968			20,968

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CONSOLIDATED STATEMENTS OF CASH FLOWS

	US dollars						US dollars
	Year ended December 31,						Three months period ended December 31,
(in thousands)	2015			2014			2015			2014
Cash flows from operating activities
Net income for the period		26,572			32,907			6,603			7,496
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, amortization and impairment of goodwill		11,962			12,219			3,840			4,088
Gain from sale of subsidiary, net (Appendix A)		(951	)		-			(951	)		-
Exchange differences on principal of deposit and loans, net		-			(23	)		-			-
Loss (gains) in respect of trading marketable securities		(666	)		(133	)		(238	)		138
Increase in liability for employee rights upon retirement		717			1,655			215			361
Share in losses of affiliated company, net		2,439			421			957			113
Deferred income taxes		1,731			(737	)		791			472
Capital (gain) losses  on sale of property and equipment, net		(31	)		(270	)		(21	)		(251	)
Decrease (increase) in accounts receivable		117			(1,864	)		201			1,004
Decrease (increase) in other current and non-current assets		(2,695	)		(4,749	)		(2,610	)		(3,979	)
Decrease (increase) in inventories		(658	)		783			(909	)		(1,454	)
Increase (decrease) in accounts payable		(1,176	)		927			(84	)		1,839
Increase (decrease) in deferred revenues		(246	)		749			618			961
Increase (decrease) in other current and non-current liabilities		(1,201	)		(4,154	)		(739	)		(3,601	)
Net cash provided by operating activities		35,914			37,731			7,673			7,187
Cash flows from investment activities
Increase in funds in respect of employee rights upon retirement
Net of withdrawals		(804	)		(708	)		(229	)		(168	)
Capital expenditures		(18,724	)		(14,976	)		(3,986	)		(5,611	)
Investment in marketable securities		(11	)		(2,771	)		(11	)		-
Investments in affiliated company		(5,966	)		-			(1,327	)		-
Subsidiary no longer consolidated (Appendix A)		(266	)		-			(266	)		-
Deposit in escrow		-			5,005			-			-
Sale of (investment in) deposit		(341	)		(283	)		(20	)		(160	)
Proceeds from sale of property and equipment		406			489			117			363
Net cash used in investment activities		(25,706	)		(13,244	)		(5,722	)		(5,576	)
Cash flows from financing activities
Short term credit from banking institutions, net		160			(38	)		(287	)		(2	)
Acquisition of non-controlling interests		-			(500	)		-			-
Dividend payment		(17,590	)		(19,324	)		(2,861	)		(3,843	)
Dividend payment to non-controlling interest		(1,229	)		(2,564	)		-			(502	)
Net cash used in financing activities		(18,659	)		(22,426	)		(3,148	)		(4,347	)
Effect of exchange rate changes on cash and cash equivalents		(2,951	)		(5,340	)		(1,221	)		(1,850	)
Net Increase(decrease) in cash and cash equivalents		(11,402	)		(3,279	)		(2,418	)		(4,586	)
Balance of cash and cash equivalents at beginning of period		38,418			41,697			29,434			43,004
Balance of cash and cash equivalents at end of period		27,016			38,418			27,016			38,418

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CONSOLIDATED STATEMENTS OF CASH FLOWS

Appendix A – Company no longer consolidated

	US dollars
	Year ended December 31,
(in thousands)	2015
Working capital (excluding cash and cash equivalents), net		1,215
Funds in respect of employee rights upon retirement		(250	)
Property and equipment , net		(23	)
Liability for employee rights upon retirement		275
Gain from sale of subsidiary		(951	)
		266

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