JACKSONVILLE, Fla. (AP) _ Rayonier Advanced Materials Inc. (RYAM) on Thursday reported second-quarter profit of $54 million.

On a per-share basis, the Jacksonville, Florida-based company said it had net income of 83 cents. Earnings, adjusted for non-recurring gains, came to 60 cents per share.

The maker of cellulose products posted revenue of $542 million in the period.

Rayonier Advanced Materials shares have declined 12 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.90, an increase of 21 percent in the last 12 months.

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