UPDATE 1-Sally Beauty Q3 tops Street view

* Q3 EPS $0.22 vs est $0.21

* Q3 sales $742.9 mln vs est $737.5 mln

* Sees FY cap-ex $45 mln to $50 mln excluding acquisitions.

July 29 (Reuters) - Beauty supplies and hair products distributor Sally Beauty Holdings Inc (SBH.N) posted better-than-expected third-quarter results, helped by better gross margins.

The company has seen rising sales as consumers bought more do-at-home products instead of heading for hair salons.

Sally Beauty increased proportion of private brands and direct sourcing, leading to higher gross margins.

For the third quarter, the Texas-based company earned $41.1 million or 22 cents a share, compared with $31.5 million or 17 cents a share, a year ago.

Revenue rose 10 percent to $742.9 million.

Analysts on average were looking for a profit of 21 cents a share, before items, on revenue of $737.5 million, according to Thomson Reuters I/B/E/S.

For the full year, Sally Beauty forecast capital expenditures of between $45 million and $50 million, excluding acquisitions.

Gross margin improved 170 basis points at the Sally Beauty Supply segment, while it rose 140 basis points at the Beauty Systems Group segment.

Shares of the company closed at $9.03 Wednesday on the New York Stock Exchange.

(Reporting by Vidya Lakshmi in Bangalore; Editing by Prem Udayabhanu)