03:47 PM EST - Domtar Corp. : reported Friday a decline in second-quarter profit, mainly reflecting higher one-time costs as well as the absence of prior year's tax credit. On an adjusted basis, earnings turned around to profit from last year, beating market projections. For the third quarter, the company projects sequentially flat paper shipments. The Montreal-based company's second-quarter net earnings were $31 million U.S. or $0.71 U.S. per share, down from $48 million U.S. or $1.12 U.S. per share for the second quarter of 2009. Domtar Corp.
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