Italpinas Development Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter the company reported net sales were PHP 47,518,706 compared to PHP 50,692,828 a year ago. Profit from operations was PHP 6,283,343 compared to PHP 3,527,541 a year ago. Profit before tax was PHP 4,501,473 compared to PHP 3,253,681 a year ago. Profit for the year was PHP 4,217,880 compared to PHP 3,253,681 a year ago. Earnings of PHP 0.02 per basic and diluted share compared to PHP 0.01 per basic and diluted share a year ago. Net cash used in operating activities was PHP 18,297,383 compared to net cash from operating activities was PHP 20,002,350 a year ago. Acquisition of property and equipment was PHP 524,604 against PHP 4,961 a year ago.