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Fortis reports lower profits

Fortis Inc. is reporting lower third-quarter net earnings, with the power producer and electricity and natural gas distributor citing foreign exchange reverses and acquisition-related expenses.

Fortis Inc. is reporting lower third-quarter net earnings, with the power producer and electricity and natural gas distributor citing foreign exchange reverses and acquisition-related expenses. The company says net income attributable to common equity shareholders was $45 million or 24 cents per share in the three months ended Sept. 30. That compared with net income of $56 million or 30 cents per share a year ago.