November 1, 2010 / 12:59 PM / in 7 years

UPDATE 1-Drew Industries posts 11 pct jump in Q3 profit

* Q3 EPS $0.36 vs $0.33 year-ago

* Q3 revenue up 21 pct

* Says October sales down 2 pct on year

* Sees FY 2010 capex at $11-$13 mln

Nov 1 (Reuters) - Drew Industries Inc DW.N, which makes components for recreational vehicles (RV) and manufactured homes, posted an 11 percent rise in its third-quarter profit, partly helped by a rise in sales at its RV segment, but said sales in October fell compared with the year-ago period.

Sales in October dropped 2 percent to about $40 million on year, the company said in a statement.

For the July-September quarter, the company reported a rise in net income to $8.0 million, or 36 cents a share, compared with $7.2 million, or 33 cents a share, a year ago.

Excluding an after tax non-cash gain of $0.6 million, the company earned 33 cents a share, for the quarter.

The company posted a 21 percent rise in its revenue to $146.8 million. Sales at its recreational vehicle products segment jumped 26 percent to $122.1 million.

Analysts on average were expecting the company to earn 35 cents a share, before special items, on revenue of $147.4 million, according to Thomson Reuters I/B/E/S.

The company, which has Kinro and Lippert Component as it’s subsidiaries, sees capital expenditure for full year 2010 at $11-$13 million.

Shares of the White Plains, New York-based company, which have risen 18 percent since it touched a year low in July at $17.89, closed at $21.07 Friday on the New York Stock Exchange. (Reporting by Fareha Khan in Bangalore; Editing by Prem Udayabhanu)

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