UPDATE 1-TrueBlue Q3 profit misses Wall Street view

* TrueBlue Q3 profit $0.38 a share Vs estimate of $0.40

* Forecasts Q4 results below Wall Street view

* To close 17 branches in Q4

(Recasts; adds details, share movement)

Oct 15 (Reuters) - TrueBlue Inc (TBI.N), a provider of temporary blue-collar workers, posted a third-quarter profit below Wall Street estimates as demand for its services declined due to a weak economy, and forecast fourth-quarter results below analysts' expectations.

The company said it plans to close 17 branches during the fourth quarter and is currently evaluating additional branches to close.

For the third quarter, TrueBlue reported net income of $16.3 million, or 38 cents a share, compared with $22.7 million, or 51 cents a share, a year ago.

Revenue fell 1 percent to $387.9 million.

Analysts on average were expecting earnings of 40 cents a share, on revenue of $394.9 million, according to Reuters Estimates.

For the fourth quarter, the company said it expects earnings of 10 cents to 14 cents a share, on revenue of $325 million to $335 million.

Analysts expect earnings of 19 cents a share, excluding items, on revenue of $354.2 million.

Shares of the Tacoma, Washington-based company closed down 8.6 percent at $9.41, a new 52-week low, Wednesday on the New York Stock Exchange. (Reporting by Biswarup Gooptu in Bangalore; Editing by Vinu Pilakkott)