Imaflex Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company announced revenue was CAD 20,617,000 compared to CAD 22,056,000 for the same period a year ago. The decrease was largely due to timing delays in citrus film sales resulting from the major storms in the southeastern USA in late 2017 and lower flexible packaging sales volumes. Whereas there were no citrus film sales in the first quarter of 2018, CAD 1.0 million of revenues were recorded in the corresponding prior year quarter. Net income was CAD 1,673,000 or CAD 0.033 per diluted share compared to CAD 1,145,000 or CAD 0.023 per diluted share for the same period a year ago. EBITDA (excluding FX) was CAD 2,409,000 compared to CAD 2,411,000 for the same period a year ago. EBITDA was CAD 2,800,000 compared to CAD 2,319,000 for the same period a year ago. Net income grew by 46.1% year-over-year, coming in at CAD 1.7 million for the current quarter. The improvement was driven by foreign exchange gains, operational efficiencies and on-going cost controls throughout the business. Operating cash flows up significantly year-over-year.