UPDATE 1-NCI Building Q2 profit beats estimates, shares up

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June 2 (Reuters) - NCI Building Systems Inc's (NCS.N) quarterly profit significantly beat market expectations on solid demand from the industrial, institutional and agricultural markets with higher volumes seen across all of its product groups, sending shares up over 11 percent after the bell.

The company, which makes metal building components and systems, earned second-quarter net income of $14.9 million or 76 cents a share, compared with $6.5 million, or 31 cents a share in the year-ago period.

The latest quarter included a charge of 9 cents a share for executive retirement costs and exiting the Components segment's residential overhead door product line.

Sales rose 13.1 percent to $416.1 million.

According to Reuters Estimates, analysts on average expected the company to earn 32 cents a share before items, on revenue of $363.6 million for the quarter.

Based on expectations for steel price increases during the third quarter, the company said it narrowed its forecast for the year and expects full year 2008 earnings of $3.19 to $3.44 a share. Its prior view was a range of $3.09 to $3.44 a share.

Analysts on average expect earnings of $2.93 a share before items for the year.

Shares of NCI, which closed at $30.15 Monday on New York Stock Exchange, was trading at $33.98 after the bell. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Bernard Orr)