* Q3 loss C$0.07 vs. profit of C$0.16
* Adj profit C$0.06 vs. C$0.02 expected
* sales up 5.6 pct
Nov 7 (Reuters) - Packaging and paper products company Cascades Inc CAS.TO swung to a quarterly loss, hurt by facility closures, restructuring costs and unrealized losses on financial instruments.
Third quarter net loss was C$7 million ($5.84 million), or 7 Canadian cents a share, compared with net earnings of C$16 million, or 16 Canadian cents a share, for the prior year period.
Excluding C$4 million of costs and C$13 million in unrealized losses, the company’s adjusted profit was C$6 million, or 6 Canadian cents a share.
Analysts on average expected the company to earn 2 Canadian cents a share, according to Reuters Estimates.
Sales increased 5.6 percent to C$1,039 million helped by higher prices.
Cascades said it is cautiously optimistic about the near future as it expects to benefit from a decrease in recycled paper prices, drop in energy costs, and the recent depreciation of the Canadian dollar.
$1=1.198 Canadian Dollar Reporting by Krishna Chaithanya in Bangalore; Editing by Anil D'Silva