Palestine Development & Investment Co. reported consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, operating revenue was $20,889,000 against $22,227,000 a year ago. Net income before tax was $6,752,000 against $4,971,000 a year ago. Net income after tax was $6,528,000 against $4,716,000 a year ago. Basic and diluted earnings per share were $0.023 against $0.017 a year ago. Net cash used in operating activities was $112,000,000 against $2,928,000 a year ago. Purchase of property, plant and equipment was $3,207,000 against $3,195,000 a year ago.