November 19, 2008 / 2:50 PM / 10 years ago

UPDATE 1-U.S. housing slump hits Tembec's results

* Loss C$0.04 per share vs profit of C$0.25

* Revenues fall 6.8 pct to C$629 million

* Shares down 9 pct in last year

TORONTO, Nov 19 (Reuters) - Tembec Inc TMB.TO reported a quarterly loss on Wednesday and warned that it would stay under pressure due to low lumber prices.

The Canadian forest products company said it lost C$4 million ($3.2 million), or 4 Canadian cents a share, in its fourth quarter, compared with a profit of C$22 million, or 25 Canadian cents a share, in the same period last year.

Revenue for the quarter was C$629 million, down 6.8 percent from C$675 million in the year-before quarter.

Analysts were expecting an average loss of 9 Canadian cents a share before items, according to Reuters Estimates.

The company said the low U.S. dollar lumber prices it has experienced over the last several quarters have depressed results and that it expects this to continue as the slumping U.S. housing market saps demand for lumber.

Tembec shares, which closed at C$1.31 on Tuesday, have dropped 9 percent in the last year. ($1=$1.23 Canadian) (Reporting by Scott Anderson; Editing by Peter Galloway)

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