UPDATE 1-Cornell Q3 profit beats Street

* Q3 EPS $0.45 vs est $0.43

* Sees Q4 EPS 0.32 to $0.35, including start up costs

* Sees start-up costs of $0.11 to $0.12 a share in Q4

* Sees FY EPS of $1.60 to $1.63, including costs

Nov 5 (Reuters) - Prison operator Cornell Cos Inc (CRN.N) posted a better-than-expected quarterly profit and said costs related to the opening of a correctional facility would weigh on fourth-quarter earnings.

For the fourth quarter, the company sees earnings-per-share of 32 cents to 35 cents, including 11 cents to 12 cents in start-up costs related to the earlier-than-scheduled opening of a correctional facility in Alaska.

Analysts on average expect the company to earn 41 cents a share, according to Thomson Reuters I/B/E/S.

In the third quarter the company's net profit rose to $7.2 million, or 45 cents a share, compared with $4.9 million, or 32 cents a share, a year ago.

Revenue rose 8.5 percent to $103.3 million.

Analysts on average were expecting the company to earn 43 cents a share on revenue of $106.1 million.

Shares of the Houston-based company were trading up 4 percent in pre-market trade Thursday. They closed at $23.16 Wednesday on the New York Stock Exchange. (Reporting by Abhishek Takle in Bangalore; Editing by Jarshad Kakkrakandy)