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AZOUR, Israel, May 25, 2021 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced its consolidated financial results for the first quarter of 2021. First Quarter 2021 ResultsRevenues for the first quarter of 2021 were $67.4 million, a decrease of 1% compared with revenues of $68.4 million in the first quarter of 2020. The gross margin in the quarter on subscription revenues was 54.5%, compared with 54.4% in the first quarter of 2020. Financial expense for the quarter was $1.0 million compared with a financial expense of $0.7 million in the first quarter of last year. Net income for the first quarter of 2021 was $8.3 million (12.3% of revenues) or earnings per share of $0.40.