UPDATE 1-Kennametal profit slips but tops estimates

(Adds sales, outlook, comparison with estimates)

NEW YORK, July 24 (Reuters) - Kennametal Inc (KMT.N: Quote, Profile, Research, Stock Buzz), a maker of industrial tools and specialty metals, reported slightly lower quarterly net profit, reflecting restructuring charges.

Net earnings slipped to $59.6 million, or 77 cents per share, compared with $62.1 million, or 79 cents per share, a year earlier.

Stripping out charges, adjusted earnings per share were 85 cents, 1 cent more than average analyst forecasts, according to Reuters Estimates.

Revenue was up 15 percent to $753 million, also ahead of Wall Street forecasts. A weak U.S. dollar contributed almost half of the sales growth.

Kennametal said it expected "moderate" revenue growth of 5 percent to 7 percent in its 2009 fiscal year, now under way, and estimated 2009 earnings before charges in a range of $3 to $3.15, with some two-thirds of its profit coming in the back half of the year. Its range compares with Wall Street forecasts of $3.11 per share. (Reporting by Nick Zieminski, editing by Dave Zimmerman)