February 24, 2011 / 11:38 AM / in 7 years

UPDATE 1-Cascades Q4 adj profit misses estimates

* Q4 adj EPS C$0.14 vs est C$0.15

* Q4 sales up 4 pct to C$991 mln (Adds details)

Feb 24 (Reuters) - Packaging and paper products company Cascades Inc posted a quarterly adjusted profit that missed estimates, hurt by higher raw material costs.

The company said it sees high raw material costs and a strong Canadian dollar to pressure its profitability in the near term.

For the fourth quarter, the company posted a net loss of C$34 million, or 35 Canadian cents a share, compared with C$41 million, or 42 Canadian cents a share, a year ago.

Excluding items, the company earned 14 Canadian cents a share.

Sales rose by 4 percent to C$991 million.

Analysts on average were expecting earnings of 15 Canadian cents a share on revenue of C$985.13 million, according to Thomson Reuters I/B/E/S

Shares of the Kingsey Falls, Quebec-based company, closed at C$6.72 on Wednesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Jarshad Kakkrakandy)

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