MONTREAL, July 31 (Reuters) - Alliance Forest Products (Toronto:ALP.TO - news), which has agreed to be bought by U.S.-based Bowater Inc. (Toronto:BOW.TO - news) for $770 million, posted better second-quarter earnings on Tuesday, citing higher net prices for lumber products. The company reported earnings of C$22.1 million, or 71 Canadian cents a share, for the quarter ended June 30, up from a loss C$17.2 million, or 57 Canadian cents a share, for the same period last year. Revenues were up C$298.9 million from C$276.5 million in same quarter a year ago. The deal with Bowater will not be completed until the third quarter because U.S. authorities want more information on antitrust matters. Shares of Alliance Forest climbed 49 Canadian cents to close at C$23.74 on Tuesday on the Toronto Stock Exchange. ($1 equals $1.53 Canadian)