12:00 PM EST - Tembec Inc. : reported a big profit in the first quarter, mainly because of a special gain from a refund of softwood lumber duties paid to the U.S. government. The Montreal company said Thursday it earned $138 million or $1.62 a share for the three mohnths ended Dec. 31, the first quarter of the company's 2007 financial year. That compared with a loss of $75 million or 88 cents a share for the year-earlier period. Tembec Inc.
shares T.TBC are trading down 26 cents at $2.72.
