Exhibit 99.1

ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

ITURAN LOCATION AND CONTROL LTD. PRESENTS

RESULTS FOR THE THIRD QUARTER 2014

Revenue of $46.5m;

Record gross, operating and net margins of 53.5%, 26.1% & 18.7% respectively

AZOUR, Israel – November 18, 2014 – Ituran Location and Control Ltd. (NASDAQ: ITRN, TASE: ITRN), today announced its consolidated financial results for the third quarter ended September 30, 2014.

Highlights of the Third Quarter

· Net subscribers adds in the quarter amounting to 20 thousand, to a record subscriber base of 795 thousand as of September 30, 2014;

· Record gross margins at 53.5%;

· Record operating margin at 26.1%;

· Record EBITDA of $15.0 million or 32.2% of revenues;

· Generated $12.9 million in operating cash flow; ended the quarter with $45.5 million in net cash (including marketable securities);

· Dividend of $4.5 million declared for the quarter;

Third Quarter 2014 Results

Revenues for the third quarter of 2014 were $46.5 million, representing a 10% growth from revenues of $42.4 million in the third quarter of 2013. 74% of revenues were from location based service subscription fees and 26% from product revenues.

Revenues from subscription fees increased 10% over the same period last year. The increase in subscription fees was primarily due to the growth in the subscriber base, which expanded from 721,000 as of September 30, 2013, to 795,000 as of September 30, 2014.

Product revenues increased by 9% compared with the same period last year.

Gross profit for the third quarter of 2014 was $24.9 million (53.5% of revenues), an increase of 13% compared with $22.0 million (51.8% of revenues) in the third quarter of 2013.

Operating profit for the third quarter of 2014 was $12.1 million (26.1% of revenues), an increase of 12% compared with an operating profit of $10.8 million (25.5% of revenues) in the third quarter of 2013.

EBITDA for the quarter was $15.0 million (32.2% of revenues), an increase of 10% compared to an EBITDA of $13.6 million (32.1% of revenues) in the third quarter of 2013.

The company recorded a financial gain on its US Dollar deposits leading to the high level of financial income of $1.3 million in the quarter. This is because some of the Ituran’s cash is held in US Dollars, and there was a 7.5% appreciation of the US Dollar versus the Israeli Shekel between the end of the second quarter end of the third quarter of 2014, while Ituran’s functional currency in Israel is the Israeli Shekel.

ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

Net profit was US$8.7 million in the third quarter of 2014 (18.7% of revenues) or fully diluted EPS of US$0.41. This is compared with a net profit of US$7.0 million (16.5% of revenues) or fully diluted EPS of US$0.33 in the third quarter of 2013.

Cash flow from operations during the quarter was $12.9 million.

As of September 30, 2014, the Company had net cash, including marketable securities, of $45.5 million or $2.17 per share. This is compared with $44.0 million or $2.10 per share as at June 30, 2014.

Dividend

For the third quarter of 2014, a dividend of $4.5 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.

Eyal Sheratzky, Co-CEO of Ituran said, “We are very pleased with our third quarter 2014 results. Our core business is growing very well in our target regions, demonstrated by the net addition of 20k subscribers in the quarter. Furthermore, we continue to benefit from the strong operating leverage which is inherent to our business model. Every additional subscriber we add can be serviced by our existing infrastructure, so as the revenue from our subscriber base continues to grow, we increasingly benefit through improving margins. Toward the end of the third quarter and into the fourth quarter we have seen the weakening of the local currencies in which we operate versus the US dollar, which had a negative impact on our results which we report in US dollars.  Notwithstanding this, we look forward to maintaining our growth trend in subscribers and expect to continue showing strong margins going forward.”

Conference Call Information

The Company will also be hosting a conference call later today, November 18, 2014 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 0650

CANADA Dial-in Number: 1 866 485 2399

INTERNATIONAL Dial-in Number:  +972 3 918 0650

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 795,000 subscribers distributed globally. Established in 1995, Ituran has over 1,300 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 & Kenny Green ituran@gkir.com GK  Investor Relations (US) +1 646 201 9246

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ITURAN LOCATION AND CONTROL LTD.

Condensed Consolidated Interim Financial Statements

as of September 30, 2014

ITURAN LOCATION AND CONTROL LTD.

Condensed Consolidated Financial Statements

as of September 30, 2014

Table of Contents

	Page
Balance Sheets	2-3
Statements of Income	4
Statements of Cash Flows	5

ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

	US dollars
	September 30,		December 31,
(in thousands)	2014		2013
Current assets
Cash and cash equivalents		43,004		41,697
Deposit in escrow		-		4,982
Investment in marketable securities		2,515		-
Accounts receivable (net of allowance for doubtful accounts)		30,334		29,239
Other current assets		20,825		18,437
Inventories		11,390		14,506
		108,068		108,861
Long-term investments and other assets
Investments in affiliated company		1,038		1,423
Investments in other company		92		88
Other non-current assets		1,574		1,022
Deferred income taxes		3,122		3,781
Funds in respect of employee rights upon retirement		6,786		6,649
		12,612		12,963
Property and equipment, net		34,206		32,546
Intangible assets, net		564		739
Goodwill		5,104		5,433
Total assets		160,554		160,542

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ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

	US dollars
	September 30,		December 31,
(in thousands)	2014		2013
Current liabilities
Credit from banking institutions		2		38
Accounts payable		13,172		11,436
Deferred revenues		9,032		9,852
Other current liabilities		29,141		30,276
		51,347		51,602
Long-term liabilities
Liability for employee rights upon retirement		10,319		9,607
Provision for contingencies		539		2,599
Deferred revenues		981		1,033
Deferred income taxes		169		216
		12,008		13,455
Stockholders’ equity		93,070		90,918
Non-controlling interests		4,129		4,567
Total equity		97,199		95,485
Total liabilities and equity		160,554		160,542

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ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

	US dollars						US dollars
	Nine month period ended September 30,						Three month period ended September 30,
(in thousands except per share data)	2014			2013			2014			2013
Revenues:
Location-based services		100,737			94,754			34,442			31,332
Wireless communications products		37,843			31,787			12,048			11,055
		138,580			126,541			46,490			42,387
Cost of revenues:
Location-based services		35,527			33,694			12,300			11,269
Wireless communications products		29,611			26,627			9,330			8,724
		65,138			60,321			21,630			19,993
Gross profit		73,442			66,220			24,860			22,394
Research and development expenses		1,895			1,791			650			624
Selling and marketing expenses		6,783			7,358			2,346			2,386
General and administrative expenses		28,950			25,915			9,752			8,567
Other expenses (income), net		(63	)		913			(9	)		(9	)
Operating income		35,877			30,243			12,121			10,826
Financing  income (expenses), net		1,215			144			1,259			(96	)
Income before income tax		37,092			30,387			13,380			10,730
Income tax expense		(11,373	)		(9,406	)		(3,895	)		(3,172	)
Share in losses of affiliated companies, net		(308	)		(1	)		(107	)		-
Net income for the period		25,411			20,980			9,378			7,558
Less: Net income attributable to non-controlling interests		(1,996	)		(1,266	)		(701	)		(576	)
Net  income attributable to the Company		23,415			19,714			8,677			6,982
Basic and diluted earnings per share attributable to Company’s stockholders		1.12			0.94			0.41			0.33
Basic and diluted weighted average number of shares outstanding		20,968			20,968			20,968			20,968

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ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	US dollars						US dollars
	Nine month period ended September 30,						Three month period ended September 30,
(in thousands except per share data)	2014			2013			2014			2013
Cash flows from operating activities
Net income for the period		25,411			20,980			9,378			7,558
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization		8,131			9,472			2,863			2,778
Losses (gains) in respect of trading marketable securities		(271	)		-			(359	)		-
Exchange differences on principal of deposit and loans, net		(23	)		229			-			99
Increase in liability for employee rights upon retirement		1,294			921			359			193
Share in losses of affiliated companies, net		308			1			107			-
Deferred income taxes		(1,209	)		6			(311	)		458
Capital losses (gains) on sale of property and equipment, net		(19	)		7			(39	)		(2	)
Decrease (increase) in accounts receivable		(2,868	)		(2,500	)		2,330			1,371
Increase in other current assets		(770	)		(715	)		(63	)		(1,889	)
Decrease (increase) in inventories		2,237			3,060			(296	)		576
Increase (decrease) in accounts payable		(912	)		1,559			209			2,717
Decrease in deferred revenues		(212	)		(38	)		(236	)		(556	)
Increase (decrease) in other current liabilities		(553	)		1,097			(1,071	)		3
Net cash provided by operating activities		30,544			34,079			12,871			13,306
Cash flows from investment activities
Increase in funds in respect of employee rights upon retirement, net of withdrawals		(540	)		(482	)		(243	)		(153	)
Capital expenditures		(10,609	)		(13,040	)		(4,082	)		(7,380	)
Investment in marketable securities		(2,771	)		-			-			-
Deposit in escrow		5,005			-			-			-
Deposit		(123	)		317			33			4
Proceeds from sale of property and equipment		1,370			485			742			262
Net cash used in investment activities		(7,668	)		(12,720	)		(3,550	)		(7,267	)
Cash flows from financing activities
Short term credit from banking institutions, net		(36	)		489			3			510
Repayment of long term loans		-			(114	)		-			-
Acquisition of non-controlling  interest		(500	)		-			(500	)		-
Dividend paid to non-controlling interests		(2,062	)		(1,233	)		(557	)		(692	)
Dividend paid		(15,481	)		(12,479	)		(4,022	)		(2,894	)
Net cash provided by (used in) financing activities		(18,079	)		(13,337	)		(5,076	)		(3,076	)
Effect of exchange rate changes on cash and cash equivalents		(3,490	)		(855	)		(3,008	)		2
Net increase in cash and cash equivalents		1,307			7,167			1,237			2,965
Balance of cash and cash equivalents at beginning of  period		41,697			29,453			41,767			33,655
Balance of cash and cash equivalents at end of the period		43,004			36,620			43,004			36,620

Supplementary information on investing activities not involving cash flows:

In August the company declared a dividend in an amount of US$ 4 million. The dividend was paid in October 2014.During the nine month period ended September 30 2014, the Company purchased property and equipment in an amount of US$ 3,026 thousand using a directly related liabilities.

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