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Lumine Group Q2 Net Earnings Fall on Higher Acquisition Costs

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Lumine Group (LMN.V) second-quarter net earnings fell to $0.06 per share, from $0.09 per share, in the prior year period due to one-off acquisitions costs and amortization of intangible assets, the company said after market close on Tuesday.

Analysts polled by FactSet had forecast earnings of $0.22 per share.

Lumine, which acquires businesses in the communications and media industry, said quarterly revenue advanced to $235 million, from $184 million, over the same period. The result beat the consensus analyst estimate of $233.4 million, according to FactSet.

Lumine Group shares closed up[ C$0.76, to C$25, on the Toronto Stock Exchange.

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