UPDATE 1-Colfax profit lags Street; to close N. Carolina plant

* Q2 adj EPS $0.20 vs est $0.25 * Sales fall 20 pct

* Closes Sanford, North Carolina facility

* Says to continue with restructuring

* Sees adjusted EPS of $0.93 to $1.00 for 2009.

Aug 4 (Reuters) - Pumps and other fluid-handling products maker Colfax Corp (CFX.N) reported quarterly profit that came in below market estimates, and said it will close its plant in Sanford, North Carolina, by the end of the year.

The company said it expects to take an after-tax charge of $1.4 million, or 3 cents a share, related to the closure of the plant, which employs 68 people

For the second quarter, the company posted a profit of $4.4 million, or 10 cents a share, compared with a loss of $31.4 million, or $1.01 a share a year ago.

On an adjusted basis, the company earned 20 cents a share that fell below analysts' expectations by 5 cents.

Sales fell 20 percent to $129.2 million. The consensus estimate for revenue was $135.7 million, according to Reuters Estimates.

"We had lower results in the second quarter versus prior year due to reduced OEM demand and push-out of project deliveries," Chief Executive Officer John Young said in a statement.

"While sales were up in our global navy and commercial marine end markets, they were offset by declines in our general industrial and power generation end markets."

The company also said it would continue with its restructuring this year and expects to realize savings of about $13 million in 2009 related to actions taken since the beginning of the year.

Shares of the company closed at $9.57 Monday on the New York Stock Exchange. (Reporting by Divya Sharma in Bangalore; Editing by Anil D'Silva)