6-K/A

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________

FORM 6-K/A

REPORT OF FOREIGN ISSUERPURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934

November 26, 2018

Commission File Number: 001-32618

Ituran Location and Control Ltd.

(Exact name of Registrant as specified in its Charter)

________________________

3 Hashikma Street, Azour 58001, Israel

(Address of Registrant’s principal executive offices)

________________________

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒     Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):

Yes ☐     No ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):

Yes ☐     No ☒

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐     No ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): ______

Explanatory Note

This Amendment No.1 on Form 6-K/A furnished to the Securities and Exchange Commission on November 26,2018 is being filed solely for the purpose of amending an inadvertent clerical error in the condensed consolidated interim financial statements of Q3-page 5, ultimate line instead of "sapiens' shareholders" ,should be "Iturans' shareholders". Other than such amendment of the typographical error, this Form 6-K/A does not ,and does not purport to, amend,  update or restate any information set in any other item of the 6-K.

The following document is attached hereto and incorporated by reference herein:

Exhibit 99.1 press release dated November 26, 2018 titled ""Ituran Location & Control Reports Q3 2018 Results"

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

ITURAN LOCATION & CONTROL LTD.                       (Registrant)
By:	/s/ Eyal Sheratzky
	Name: Eyal Sheratzky
	Title: Co-Chief Executive Officer

Date: November 26, 2018

EX-99.1

Exhibit 99.1

ITURAN LOCATION AND CONTROL LTD. PRESENTS

RESULTS FOR THE THIRD QUARTER 2018

Net profit of $26.1m; EBITDA of $17.0m;

Closed Acquisition of RT Holdings; Number of Subscribers at 1.75 million

AZOUR, Israel – November 26, 2018 – Ituran Location and Control Ltd. (NASDAQ: ITRN, TASE: ITRN), today announced its consolidated financial results for the third quarter ended September 30, 2018.

Highlights of the third quarter of 2018

· Closed acquisition of the majority stake in Road Track Holdings in mid-September with minimal impact on the financial results of the quarter;

· Revenue of $53.4 million and operating profit of $13.7 million (margin of 25.7%)

· Net profit of $26.1 million (including one-time income of $13.8 million);

· EBITDA of $17.0 million (31.8% of revenue); in local currency terms, EBITDA grew by 13%;

· Dividend of $5 million declared for the quarter;

Third Quarter 2018 Results

The closing of the acquisition of Road Track Holdings on September 13, 2018, brought slightly over half a million subscribers and the subscriber base reached 1,752,000 subscribers as of September 30, 2018 compared with 1,137,000 subscribers as of September 30, 2017. Because the acquisition happened toward the end of the third quarter, there was minimal impact on the consolidated profit and loss statement for the quarter.

Revenues for the third quarter of 2018 were $53.4 million, compared with revenues of $60.6 million in the third quarter of 2017. 73% of revenues were from location based service subscription fees and 27% were from product revenues.

The significant strengthening of the US dollar versus the Brazilian real and the Argentinean peso during the third quarter versus the prior quarter as well as the third quarter of 2017 reduced the overall revenue level in US dollars and impacted the growth rate of the revenues in US dollar terms.

Revenues from subscription fees were $39.1 million, compared with $43.8 million in the third quarter last year. Excluding the exchange rate impact, the revenues from subscription fees would have grown by 3.4% year-over-year.

Revenue from products were $14.3 million compared with $16.8 million in the third quarter of last year. The New Year holiday season in Israel fell fully in the third quarter of 2018, while it was divided between the third and fourth quarter of last year, leading to less days of sales in Israel and lower product revenue during the current quarter. In addition, the above mentioned exchange rate volatility also impacted the product revenues. In local currency terms, product revenues would have declined by 13% year-over-year.

Gross profit for the third quarter of 2018 was $28.9 million (54.1% of revenues), compared with $30.5 million (50.4% of revenues) in the third quarter of 2017.

The gross margin on subscription fees were 65.3% compared with 66.7% in the same period last year. The gross margin on product sales were 23.4% compared with 7.6% in the same period last year. The change in gross margin was mainly due to the product sales mix sold during the quarter.

Operating profit for the third quarter of 2018 was $13.7 million (25.7% of revenues), compared with an operating profit of $13.9 million (22.9% of revenues) in the third quarter of 2017. Excluding the impact of the change in exchange rates over the period, the operating profit would have increased 15% over the third quarter of 2017.

During the quarter, Ituran had a one-time other income of $13.8 million. This was related to an accounting gain from an acquisition following the gain of control of Ituran’s joint venture with Road Track Holdings in Brazil and Argentina, which under GAAP rules, is accounted for at market value and was therefore revalued. The total gain is net of transaction related expenses.

During the quarter, share in affiliates, net was an income of $1.6 million versus an income of $1.0 million in the same quarter of last year.

EBITDA for the quarter was $17.0 million (31.8% of revenues), compared to an EBITDA of $17.4 million (28.7% of revenues) in the third quarter of 2017. Excluding the impact of the change in exchange rates over the period, the EBITDA would have increased by 13%.

Net profit was $26.1 million in the third quarter of 2018 (48.8% of revenues) or fully diluted EPS of $1.24. This is compared with a net profit of $10.5 million (17.4% of revenues) or fully diluted EPS of $0.50 in the third quarter of 2017.

Cash flow from operations for the quarter was $14.8 million.

As of September 30, 2018, the Company had cash, including marketable securities, of $57.4 million. The company also had short and long-term debt of $84.9 million. On a net basis, the net debt of the company was $27.5 million, compared with net cash of $40.4 million as of December 31, 2017.

Ituran consolidated non-GAAP Pro-Forma Financials

On September 13, 2018, Ituran closed its acquisition of 81.3% of Road Track Holdings. In order to aid investor’s understanding of how to model Ituran following the acquisition, the consolidated non-GAAP pro-forma financials of Ituran and Road Track Holdings for the first nine months of 2018 are included in the table below.

US$ millions	Actual results (9 months ended September 30, 2018)			Non-GAAP Pro-forma results (9 months ended September 30, 2018)		Non-GAAP pro-forma at constant currency ex-rates (based on average 2017 exchange rates)
Revenue		174.2			270.4		286.8
EBIT		44.1			59.2		65.9
Net profit		49.3	*		41.9		46.6

*Please note that the actual net profit in the table above includes a $13.8 million one-time income while the non-GAAP pro-forma does not include this.

Dividend

For the third quarter of 2018, a dividend of $5.0 million was declared in line with the Company’s stated current policy of issuing at least $5 million on a quarterly basis.

Management Comment

Eyal Sheratzky, Co-CEO of Ituran said, “Ituran continues to grow and is performing well. Again, significant local currency weakness versus the dollar had an impact on our financials. As the solid improvement in our margins indicates, the health of the underlying business is strong and allows us to continually grow profitably for the long-term, independent of the short-term volatility.”

Continued Mr. Sheratzky, “We closed the third quarter consolidating Road Track, a company we had been working with closely for five years in Brazil and Argentina. Ituran is now a Company on a completely new scale adding significant operations throughout Latin America. While the impact on our P&L was not significant in the current quarter, we ended the quarter with over 1.7 million subscribers. In only a few weeks since the close, we are already working on leveraging the synergies, given our new scale in the telematics market in Latin America. We look forward to our continued growth and expansion for the foreseeable future.”

Conference Call Information

The Company will also be hosting a conference call later today, November 26, 2018 at 10 am 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: 1 888 668 9141

ISRAEL Dial-in Number: 03 918 0610

CANADA Dial-in Number: 1 888 604 5839

INTERNATIONAL Dial-in Number:  +972 3 918 0610

At:

10:00am Eastern Time, 7:00am Pacific Time, 5:00pm 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.

About Ituran

Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance industry and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel-Aviv based DRIVE startup incubator to promote the development of smart mobility technology.

Ituran's subscriber base has been growing significantly since the Company's inception to well over 1.7 million subscribers using its location based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has over 3,400 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada and the United States.

For more information, please visit Ituran’s website, at: www.ituran.com

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 & Public Relations (US) +1 646 201 9246

ITURAN LOCATION AND CONTROL LTD.

Condensed Consolidated Interim Financial Statements

as of September 30, 2018

ITURAN LOCATION AND CONTROL LTD.

Condensed Consolidated Interim Financial Statements

as of September 30, 2018

Table of Contents

	Page
Condensed Consolidated Interim Financial Statements:
Balance Sheets	2-3
Statements of Income	4
Reconciliation of NON-GAAP results	5-6
Statements of Cash Flows	7-8

ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

	US dollars
	September 30,		December 31,
(in thousands)	2018		2017
Current assets
Cash and cash equivalents		55,743		36,906
Investments in marketable securities		1,674		3,559
Accounts receivable (net of allowance for doubtful accounts)		62,782		41,009
Other current assets		45,591		41,394
Inventories		35,066		14,244
		200,856		137,112
Long-term investments and other assets
Investments in affiliated companies		4,088		14,839
Investments in other company		2,400		1,382
Other non-current assets		2,998		939
Deferred income taxes		14,550		8,398
Funds in respect of employee rights upon retirement		9,588		9,627
		33,624		35,185
Property and equipment, net		52,607		39,047
Intangible assets, net		29,389		38
Goodwill		70,875		3,777
Total assets		387,351		215,159

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ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS (cont.)

	US dollars
	September 30,		December 31,
(in thousands)	2018		2017
Current liabilities
Credit from banking institutions		8,022		48
Accounts payable		27,990		23,264
Deferred revenues		42,135		12,796
Other current liabilities		38,236		29,644
		116,383		65,752
Long-term liabilities
Long term loan		76,895		-
Liability for employee rights upon retirement		15,020		14,062
Provision for contingencies		326		400
Deferred income taxes		3,079		-
Deferred revenues		7,030		1,241
Others non-current		390		475
		102,740		16,178
Stockholders’ equity		155,130		125,790
Non-controlling interests		13,098		7,439
Total equity		168,228		133,229
Total liabilities and equity		387,351		215,159

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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)	2018			2017			2018			2017
Revenues:
Location-based services		126,315			125,284			39,126			43,847
Wireless communications products		47,855			48,774			14,250			16,764
		174,170			174,058			53,376			60,611
Cost of revenues:
Location-based services		41,408			41,889			13,569			14,584
Wireless communications products		43,485			43,362			10,914			15,483
		84,893			85,251			24,483			30,067
Gross profit		89,277			88,807			28,893			30,544
Research and development expenses		3,727			2,444			1,628			676
Selling and marketing expenses		8,423			9,551			2,941			3,273
General and administrative expenses		33,385			35,096			10,795			12,705
Other income, net		(308	)		(146	)		(190	)		(3	)
Operating income		44,050			41,862			13,719			13,893
Other income, net		13,833			-			13,833			-
Financing income, net		2,134			1,091			1,566			250
Income before income tax		60,017			42,953			29,118			14,143
Income tax expenses		(12,416	)		(12,388	)		(3,906	)		(3,944	)
Share in gains of affiliated companies ,net		3,868			5,487			1,644			998
Net income for the period		51,469			36,052			26,856			11,197
Less: Net income attributable to non-controlling interest		(2,124	)		(2,082	)		(805	)		(667	)
Net income attributable to the Company		49,345			33,970			26,051			10,530
Basic and diluted earnings per share attributable to Company’s stockholders		2.35			1.62			1.24			0.50
Basic and diluted weighted average number of shares outstanding (in thousands)		20,982			20,968			21,010			20,968

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ITURAN LOCATION AND CONTROL LTD.

RECONCILIATION OF NON-GAAP RESULTS

	US dollars					US dollars
	Nine months ended September 30,					Three months ended September 30,
(in thousandsexcept per share data)	2018			2017		2018			2017
GAAP Revenues:		174,170			174,058		53,376			60,611
Valuation adjustment on acquired deferred revenue		-			-		-			-
Non –GAAP revenue		174,170			174,058		53,376			60,611
GAAP gross profit		89,277			88,807		28,893			30,544
Valuation adjustment on acquired deferred revenue		-			-		-			-
Non –GAAP gross profit		89,277			88,807		28,893			30,544
GAAP operating income		44,050			41,862		13,719			13,893
Operation profit adjustments
Amortization of other intangible assets		310			-		310			-
Non-GAAP operating income		44,360			41,862		14,029			13,893
GAAP net income attributable to the company's shareholders		49,345			33,970		26,051			10,530
Operation income adjustment		310			-		310			-
Other income, net		(13,833	)		-		(13,833	)		-
Non-GAAP net income attributable to Iturans' shareholders		35,822			33,970		12,528			10,530

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ITURAN LOCATION AND CONTROL LTD.

Summary of NON –GAAP Financial Information

	US dollars				US dollars
	Nine months ended September 30,				Three months ended September 30,
(in thousands except per share data)	2018		2017		2018		2017
revenue		174,170		174,058		53,376		60,611
Gross profit		89,277		88,807		28,893		30,544
Operation income		44,360		41,862		14,029		13,893
Net income to shareholders		35,822		33,970		12,528		10,530
Adjusted EBITDA		54,016		51,844		16,996		17,408
Basic and diluted earnings per share		1.71		1.62		0.60		0.50

Adjusted EBITDA Calculation

	US dollars				US dollars
	Nine months ended September 30,				Three months ended September 30,
(in thousands except per share data)	2018		2017		2018		2017
GAAP operation profit:		44,050		41,862		13,719		13,893
Non –GAAP adjustments
Amortization of other intangible assets		310		-		310		-
Non –GAAP operating profit		44,360		41,862		14,029		13,893
Depreciation		9,656		9,982		2,967		3,515
Adjusted EBITDA		54,016		51,844		16,996		17,408

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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)	2018			2017			2018			2017
Cash flows from operating activities
Net income for the period		51,469			36,052			26,856			11,197
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization		9,966			9,982			3,277			3,515
Losses (gain) in respect of trading marketable securities		(321	)		(201	)		20			(134	)
Increase in liability for employee rights upon retirement		290			827			363			339
Share in gains of affiliated companies, net		(3,868	)		(5,487	)		(1,644	)		(998	)
Deferred income taxes		1,411			(268	)		(408	)		(488	)
Capital gains (losses) on sale of property and equipment, net		107			(57	)		38			4
Capital gains on Acquisition of non-controlling interests		(14,677	)		-			(14,677	)		-
Decrease (increase) in accounts receivable		(2,131	)		(8,908	)		3,623			(3,391	)
Decrease in other current assets		(5,265	)		(8,194	)		(1,286	)		(2,383	)
Decrease (increase) in inventories		(2,852	)		545			(2,867	)		2,009
Increase in accounts payable		191			1,667			2,054			180
Increase (decrease) in deferred revenues		(2,065	)		2,686			(138	)		450
Increase (decrease) in other current liabilities		2,465			535			(389	)		1,603
Net cash provided by operating activities		34,720			29,179			14,822			11,903
Cash flows from investment activities
Increase in funds in respect of employee rights upon retirement, net of withdrawals		(372	)		(619	)		(525	)		(256	)
Capital expenditures		(15,311	)		(10,796	)		(5,329	)		(4,047	)
Acquisitions of a subsidiary – Appendix A		(68,969	)		-			(68,969	)		-
Investments in affiliated companies		(1,250	)		(97	)		-			-
Investments in other companies		(1,097	)		(1,061	)		(200	)		-
Investment in marketable securities		(22,618	)		(6,607	)		(243	)		(3,418	)
Sale of marketable securities		24,046			3,424			-			1,305
Deposit		(175	)		132			30			94
Proceeds from loans to affiliated companies		7,317			4,305			4,055			3,743
Proceeds from sale of property and equipment		341			305			125			124
Net cash used in investment activities		(78,088	)		(11,014	)		(71,056	)		(2,455	)
Cash flows from financing activities
Short term credit from banking institutions, net		(34	)		125			(1	)		132
Receipt of long-term credit from banking institutions		81,695			-			81,695			-
Dividend paid		(15,097	)		(17,613	)		(5,030	)		(5,032	)
Dividend paid to non-controlling interest		(1,517	)		(1,172	)		(545	)		(420	)
Net cash provided by (used in) financing activities		65,047			(18,660	)		76,119			(5,320	)
Effect of exchange rate changes on cash and cash equivalents		(2,842	)		1,229			(248	)		577
Net increase in cash and cash equivalents		18,837			734			19,637			4,705
Balance of cash and cash equivalents at beginning of the period		36,906			31,087			36,106			27,116
Balance of cash and cash equivalents at end of the period		55,743			31,821			55,743			31,821

Supplementary information on financing and investing activities not involving cash flows:

In August 2018, the Company declared a dividend in an amount of US$ 5 million. The dividend was paid in October 2018.

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ITURAN LOCATION AND CONTROL LTD.

Appendix A -  Acquisitions of a subsidiary

	US dollars
	Nine and three months ended September 30, 2018
(in thousands)
Working capital (excluding cash and cash equivalents), net		(858	)
Related parties		2,855
Intangible assets, net		29,610
Property and equipment , net		13,766
Liability for employee rights upon retirement		(1,337	)
Goodwill		67,067
Consideration paid by issues of treasury stock		(12,038	)
Deferred income taxes		4,700
Other non-current assets		2,132
Previous investments in acquired companies		(24,734	)
Deferred revenues		(6,514	)
Non-controlling interests		(5,680	)
Net cash used to pay for the Acquisition		68,969

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