UPDATE 1-School Specialty posts wider Q3 loss, cuts 2009 view

* Q3 loss $1.15/shr vs loss est. $1.01/shr

* Revenue lags Street

* Cuts 2009 outlook

* Optimistic about federal stimulus aid

* Shares down 2 pct

Feb 19 (Reuters) - School-products supplier School Specialty Inc (SCHS.O) posted a wider-than-expected quarterly loss, hurt by a seasonally low period for educational product sales, and cut its 2009 outlook. The company forecast 2009 earnings of $1.80 to $1.95 a share, excluding items, from its prior outlook of $2.04 to $2.24 a share.

Revenue for the year is expected to be $1.04 billion to $1.06 billion, compared with its prior view of $1.07 billion to $1.08 billion.

The Greenville, Wisconsin-based company posted a net loss of $21.6 million for the third quarter ended Jan. 24, compared with loss of $20.3 million a year earlier.

Revenue fell 9.7 percent to $121.7 million in the quarter. Shares of the company were down more than 2 percent at $15.23 Thursday morning on Nasdaq.

For related alerts, double-click [ID:nWNAB4541] (Reporting by Renju Jose in Bangalore; Editing by Pratish Narayanan)