September 15, 2011 / 9:10 PM / in 6 years

UPDATE 1-Cooper Industries cuts Q3 profit outlook, shares fall

* Cuts Q3 EPS view to $0.94-$0.98 from $0.98-$1.03

* Cuts 2011 EPS from cont ops view to $3.75-$3.82 from $3.80-$3.90

* Shares down 6.5 pct in extended trade (Follows alerts)

Sept 15 (Reuters) - Electrical products maker Cooper Industries cut its third-quarter earnings outlook, as it faces weakness in its residential and commercial markets, along with softness in its electronics business.

The company sees third-quarter earnings of 94-98 cents a share, down from its prior estimates of 98 cents to $1.03 a share. Analysts, on average, were expecting earnings of $1.02 a share, according to Thomson reuters I/B/E/S.

Cooper said material inflation and production shortfalls from restructuring activities would also hurt its third quarter.

Shares of the Dublin-based company were down 6.5 percent in trading after the bell. They closed at $48.21 on Thursday on the New York Stock Exchange.

(Reporting by Divya Sharma in Bangalore) (divya.sharma@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: divya.sharma.reuters.com@reuters.net))

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