UPDATE 1-Watts Water posts Q4 profit

* Q4 shr $0.32, cont ops vs. yr-ago shr loss $0.10

* Q4 rev down 5 pct

Feb 16 (Reuters) - Plumbing products supplier Watts Water Technologies Inc (WTS.N) posted a fourth-quarter profit, helped by favorable foreign exchange rates and lower charges.

The company posted fourth-quarter earnings from continuing operations of $11.8 million, or 32 cents a share, compared with a loss of $3.7 million, or 10 cents a share, a year earlier.

Net income, including 11 cents a share from discontinued operations, was 43 cents a share. The company recorded goodwill and impairment charges of $1.3 million in the quarter.

Revenue fell 5 percent to $323.2 million.

Analysts on average were expecting earnings of 42 cents a share, on revenue of $300.6 million, according to Thomson Reuters I/B/E/S.

Shares of the North Andover, Massachusetts-based company closed at $28.87 Tuesday on the New York Stock Exchange. (Reporting by Amulya Nagaraj in Bangalore; Editing by Anil D'Silva)