04:54 PM EDT, 08/13/2024 (MT Newswires) -- Pollard Banknote ( PBKOF ) , on reported Tuesday said its second-quarter adjusted earnings easily beat forecasts on higher than expected revenues, buoyed by recent acquisitions.

The lottery-products company said it earned $11.9 million, or $0.43 per share, in the period, up from $7.5 million, or $0.27, in the year-prior quarter. The results was well above a consensus Capital IQ forecast of $0.26 per share.

Second quarter revenue reached a record of $137.8 million, up $7.0 million from the second quarter of 2023. The Capital IQ consensus forecast was $134.69 million

"Acquisitions are an important component of our strategic plan and this was evident in the second quarter with the purchase of electronic bingo gaming content supporting our eGaming systems," said Doug Pollard, Co-Chief Executive Officer.

Pollard shares closed up $0.61 to $18.80 on the Toronto Stock Exchange.