Italpinas Development Corporation announced earnings results for the year ended December 31, 2016. For the period, the company reported net sales of PHP 355,902,636 against PHP 216,532,928 a year ago. Profit from operations was PHP 46,568,181 against PHP 51,139,326 a year ago. Profit before tax was PHP 31,004,939 against PHP 52,981,119 a year ago. Profit for the year was PHP 32,000,596 against PHP 44,476,216 a year ago. Basic and diluted earnings per share were PHP 0.14 against PHP 0.26 a year ago. Net cash used in operating activities was PHP 81,130,001 against PHP 62,959,446 a year ago. Acquisition of property and equipment was PHP 1,846,936 against PHP 2,610,160 a year ago.