XML 79 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues:      
Location based services $ 133,692itrn_LocationBasedServicesRevenue $ 126,951itrn_LocationBasedServicesRevenue $ 114,565itrn_LocationBasedServicesRevenue
Wireless communications products 48,435itrn_WirelessCommunicationsProductsRevenue 43,216itrn_WirelessCommunicationsProductsRevenue 35,753itrn_WirelessCommunicationsProductsRevenue
Total revenues 182,127us-gaap_Revenues 170,167us-gaap_Revenues 150,318us-gaap_Revenues
Cost of revenues:      
Location based services 46,852itrn_LocationBasedServicesCosts 44,850itrn_LocationBasedServicesCosts 44,974itrn_LocationBasedServicesCosts
Wireless communications products 38,142itrn_WirelessCommunicationsProductsCosts 36,015itrn_WirelessCommunicationsProductsCosts 29,786itrn_WirelessCommunicationsProductsCosts
Total cost of revenues 84,994us-gaap_CostOfRevenue 80,865us-gaap_CostOfRevenue 74,760us-gaap_CostOfRevenue
Gross profit 97,133us-gaap_GrossProfit 89,302us-gaap_GrossProfit 75,558us-gaap_GrossProfit
Research and development expenses 2,526us-gaap_ResearchAndDevelopmentExpense 2,414us-gaap_ResearchAndDevelopmentExpense 2,066us-gaap_ResearchAndDevelopmentExpense
Selling and marketing expenses 9,264us-gaap_SellingAndMarketingExpense 9,715us-gaap_SellingAndMarketingExpense 8,489us-gaap_SellingAndMarketingExpense
General and administrative expenses 38,617us-gaap_GeneralAndAdministrativeExpense 34,483us-gaap_GeneralAndAdministrativeExpense 33,439us-gaap_GeneralAndAdministrativeExpense
Other expenses, net (Note 13) 856us-gaap_OtherOperatingIncomeExpenseNet 4,760us-gaap_OtherOperatingIncomeExpenseNet 1,617us-gaap_OtherOperatingIncomeExpenseNet
Operating income 45,870us-gaap_OperatingIncomeLoss 37,930us-gaap_OperatingIncomeLoss 29,947us-gaap_OperatingIncomeLoss
Other (expenses) income, net (Note 11A2)    (166)us-gaap_OtherNonoperatingIncomeExpense 6,755us-gaap_OtherNonoperatingIncomeExpense
Financing income, net (Note 14) 1,704us-gaap_NonoperatingIncomeExpense 238us-gaap_NonoperatingIncomeExpense 987us-gaap_NonoperatingIncomeExpense
Income before income tax 47,574us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 38,002us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 37,689us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax expenses (Note 15) (14,246)us-gaap_IncomeTaxExpenseBenefit (12,447)us-gaap_IncomeTaxExpenseBenefit (11,690)us-gaap_IncomeTaxExpenseBenefit
Share in losses of affiliated companies, net (Note 4A) (421)us-gaap_IncomeLossFromEquityMethodInvestments (1)us-gaap_IncomeLossFromEquityMethodInvestments (39)us-gaap_IncomeLossFromEquityMethodInvestments
Net income for the year 32,907us-gaap_ProfitLoss 25,554us-gaap_ProfitLoss 25,960us-gaap_ProfitLoss
Less: Net income attributable to non-controlling interest (2,478)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (1,792)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (1,080)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to the Company $ 30,429us-gaap_IncomeLossAttributableToParent $ 23,762us-gaap_IncomeLossAttributableToParent $ 24,880us-gaap_IncomeLossAttributableToParent
Basic and diluted earnings per share attributable to Company's stockholders (Note 16) $ 1.45us-gaap_EarningsPerShareBasicAndDiluted $ 1.13us-gaap_EarningsPerShareBasicAndDiluted $ 1.19us-gaap_EarningsPerShareBasicAndDiluted
Basic and diluted weighted average number of shares outstanding 20,968us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 20,968us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 20,968us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted