November 2, 2010 / 10:35 PM / 8 years ago

UPDATE 1-Superior Plus posts loss; cuts FY view for fifth time

* Revenue up 74 percent at C$788.4 mln

* Cuts 2010 adjusted operating cash flow forecast

Nov 2 (Reuters) - Diversified business company Superior Plus Corp (SPB.TO) reported a second consecutive quarterly loss as a weak U.S. housing market hurt its construction products distribution business, and cut its 2010 adjusted operating cash flow view for the fifth time this year.

Superior Plus, whose services span from energy to specialty chemicals, expects adjusted operating cash flow of C$1.30-C$1.50 a share, down from its prior view of C$1.50 to C$1.65 a share.

For July-September, Superior Plus posted a net loss of C$4 million, or 4 Canadian cents a share, compared with net income of C$33 million, or 37 Canadian cents a share, a year ago.

Revenue rose 74 percent to C$788.4 million.

Analysts on average were expecting the company to break even, on revenue of C$602.2 million, according to Thomson Reuters I/B/E/S.

Adjusted operating cash flow for the quarter fell 14 percent to 19 Canadian cents per share.

The Calgary, Alberta-based company’s shares, which have lost about a fifth of their value year-to-date, closed at C$11.88 Tuesday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed and Arnika Thakur in Bangalore; Editing by Anne Pallivathuckal) (; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:

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