OTTAWA, June 12 (Reuters) - Commercial printer Transcontinental Inc (TCLa.TO) TCLb.TO reported an 11 percent gain in second-quarter profit on Thursday as acquisitions and investments in new technologies more than offset the negative impact of Canadian dollar appreciation.
The company said it earned C$37.7 million ($36.9 million), or 46 Canadian cents a share, in the three months ended April 30. That is up from a profit of C$34 million, or 40 Canadian cents a share, in the same period last year.
Analysts had expected a profit of 43 Canadian cents a share before exceptions, according to Reuters Estimates.
Revenue rose 2 percent to C$595.1 million.
Exchange rate fluctuations between the Canadian dollar and its U.S. and Mexican counterparts had a C$19.3 million negative impact on revenue and C$6.5 million effect on adjusted operating income before amortization.
Excluding that impact, Transcontinental said revenue and adjusted operating income before amortization rose 5 percent.
The negative impact of the foreign exchange rate should diminish over the course of the fiscal year unless there is a sudden rise in the Canadian dollar, the Montreal-based company said.
The Canadian printing industry has been roiled by a strong dollar, the slowing North American economy, and the growth of the Internet. Transcontinental rival Quebecor World Inc filed for court protection from creditors in January. ($1=$1.02 Canadian) (Reporting by Susan Taylor; Editing by Peter Galloway)