Madison Pacific Properties Inc. reported earnings results for the quarter ended November 30, 2016. For the quarter, the company reported net income of $11.4 million against $6.9 million a year ago. Cash flows from operating activities before changes in non-cash operating balances was $3.4 million against $3.3 million a year ago. Income per share was $0.19 against $0.11 a year ago. Included in net income is an after-tax net gain from the fair value adjustment on investment properties of $4.5 million against $4.5 million a year ago.