UPDATE 2-Pool Q3 profit beats estimates; sees Q4 loss

* Q3 EPS $0.44 beats estimates by a cent

* Q3 revenue falls 6 percent

* Sees loss in Q4

* Says to tighten credit facilities to customers

* Shares fall 5 pct, touching year-low (Adds conference call details, analyst quotes, stock movement)

By Nivedita Bhattacharjee

BANGALORE, Oct 23 (Reuters) - Swimming pool products distributor Pool Corp (POOL.O) posted third-quarter earnings that beat Wall Street estimates by a penny, helped by cost controls, but the company indicated that it may post a loss in the fourth quarter.

Shares of the company fell more than 5 percent, touching their new year-low of $15.39 in afternoon trade on Nasdaq.

The company expects new pool constructions to fall by 30 percent to 40 percent in the fourth quarter.

"In terms of 2009, I don't see anything near term that will turn things around," Chief Executive Manuel Perez de la Mesa said in a conference call with analysts.

Analyst Joan Storms of Wedbush Morgan Securities said, "I don't see the growth coming back to them even probably till 2010."

To counter the pressure from rising commodity prices, Pool said it will raise prices of chemicals by double digits, while prices of its other products may go up by mid-single digits.

"Normally they do not do the price increase till the beginning of the year," said analyst Storms. "That's coming directly due to commodity price increases, which will be passed on to the vendor and then to the customers."

The company said it will also tighten credit facilities to its lower-margin customers, who form nearly 10 percent to 20 percent of its customer base.

Storms, who plans to lower her price target on the company's stock, said the company's decision on credit facilities is a reflection of the current turmoil in credit markets.

The Covington, Louisiana-based company reported third-quarter earnings of $141.8 million, or 45 cents a share, compared with $139.8, or 43 cents a share, a year earlier.

Revenue for the company, which competes with privately held Leslie's Poolmart, fell 6 percent to $493.5 million. [ID:nWNAB0604] (Editing by Anil D'Silva;)