UPDATE 1-Sonoco quarterly profit beats as economy improves

* Adj Q2 EPS 59 cts vs. Street 56 cts

* Revenue up 17 percent

NEW YORK, July 22 (Reuters) - Packaging producer Sonoco Products Co (SON.N) said on Thursday that second-quarter profit rose 75 percent as an improving economy boosted volumes and sales.

Net income increased to $58.9 million, or 58 cents per share, from $33.6 million, or 33 cents per share, a year earlier.

Excluding restructuring charges and other one-time items, the company earned 59 cents share. By that measure, analysts expected earnings of 56 cents, according to Thomson Reuters I/B/E/S.

Revenue rose 17 percent to $1.01 billion. Analysts expected $959.9 million.

The Hartsville, South Carolina-based company expects to earn 62 cents to 65 cents per share in the third quarter, on an adjusted basis. Analysts expect 62 cents. (Reporting by Ernest Scheyder; Editing by Lisa Von Ahn)