UPDATE 1-Brush Engineered Q3 results top Street, shares rise

* Q3 Sales, EPS beat expectations * Reaffirms FY08 outlook

* Shares up 16 percent

Oct 30 (Reuters) - Brush Engineered Materials Inc (BW.N), a maker of precious and specialty metal products, reported third-quarter results that beat analysts' estimates, helped in part by higher metal prices, sending its shares up as much as 16 percent.

For the latest third quarter, net income was almost unchanged at $9.9 million, or 48 cents a share. Sales rose 4 percent. [ID:nWNAB4996]

Net income, compared to the prior year, was negatively impacted by the significant decline in sales of ruthenium-based materials to the media market, the company said.

Brush Engineered shares were trading up $1.49 at $11.39 in Thursday morning on the New York Stock Exchange. They touched a high of $11.49 earlier in the session. (Reporting by Adveith Nair in Bangalore; Editing by Amitha Rajan)