November 12, 2010 / 1:58 PM / in 8 years

UPDATE 1-Cascades Q3 profit lags estimates, sees weak Q4

* Q3 adj EPS $0.29 vs est $0.30

* Rev rises 6 pct to $1.03 bln

* Expects weak fourth quarter

Nov 12 (Reuters) - Packaging and paper products company Cascades Inc (CAS.TO) posted a lower-than-expected quarterly profit, hurt by an increase in the cost of raw materials, and said it sees a weak fourth quarter.

For the July-September quarter, Cascades reported net income of C$30 million, or 31 Canadian cents a share, compared with C$34 million, or 35 Canadian cents a share, last year.

Excluding items, it reported 29 Canadian cents a share.

Analysts on average had expected the company to earn 30 Canadian cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 6 percent to C$1.03 billion.

The company sees its fourth quarter hurt by lower sales volume and maintenance costs.

Shares of the Kingsey Falls, Quebec-based company, which have fallen 31 percent since touching its year-high in January, closed at C$6.78 on Thursday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Don Sebastian)

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