Business Context and Reporting Period
This Form 6-K filing by Ituran Location & Control Ltd. covers the period of September 2006, specifically dated September 14, 2006. The filing serves to disclose a material corporate event rather than periodic financial results.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity for the reporting period. The only specific financial figure disclosed relates to a transaction cost.
- Acquisition Cost: $2.7 Million
Material Changes
On September 14, 2006, Ituran Location and Control Ltd. announced the acquisition of a controlling share of ERM Electronic Systems. This represents a material change in the company's asset base and operational scope.
Guidance, Outlook, and Risks
The filing does not contain management commentary, financial guidance, or specific risk factors beyond the disclosure of the acquisition itself. No unusual items or contingencies were detailed in the text provided.
Investor Verification Checklist
- Verify the exact percentage of the controlling share acquired in ERM Electronic Systems.
- Confirm the payment structure (cash vs. stock) for the $2.7 million transaction.
- Review the full press release (Exhibit 99.1) for strategic rationale and integration plans.
- Assess the impact of this acquisition on future consolidated financial statements.