UPDATE 1-Crown Holdings has Q4 profit, sees more improvement

* Q4 adj EPS 27 cents vs 22 cents yr ago

* Revenue below analysts' average estimate

* Shares down slightly in after-hours trading

SAN FRANCISCO, Feb 1 (Reuters) - Food and beverage can maker Crown Holdings Inc (CCK.N) reported on Monday a rise in adjusted quarterly profit, and said it expected to see an improving performance this year.

"The numerous capacity expansions we have undertaken are completed or well underway, and are expected to contribute to production and sales in 2010," Chief Executive John Conway said in a statement, as he anticipated growth in the company's emerging markets businesses in particular.

Fourth-quarter net profit was $81 million, or 50 cents per share, compared with a loss of $14 million, or 9 cents per share, a year before. Net sales grew 2 percent to $1.92 billion.

Before restructuring and impairment costs and a provision for asbestos-related legal claims, the company said it earned 27 cents per share, up from 22 cents a year before.

Analysts had been looking for earnings per share of 23 cents, on revenue of $1.96 billion, according to the averages on Thomson Reuters I/B/E/S.

Shares of the Philadelphia-based company were down 19 cents in after-hours trading at $23.45, after closing 0.7 percent lower on Monday. (Reporting by Braden Reddall; editing by Carol Bishopric)