UPDATE 1-Trex posts Q3 loss on charges; sees Q4 sales above mkt

* Q3 loss/shr $1.49 vs EPS $0.34 a year ago

* Net sales down 27 pct

* Sees Q4 sales $40 mln-$45 mln

Nov 9 (Reuters) - Deckings and railings maker Trex Co Inc TWP.N posted a quarterly loss, mainly hurt by an impairment charge of $23.3 million and weakness in the home building and remodeling sector, but issued fourth-quarter sales outlook above estimates.

The company expects fourth-quarter sales in the range of $40 million to $45 million. Analysts were expecting revenue of $30.1 million for the period, according to Thomson Reuters I/B/E/S.

Trex said it will unveil a new line of decking and railing products at the 2009 Trex Distributor Meeting this week, and will also overhaul its current product line up.

"...we expect Trex to reap the benefits of these efforts in future years," Chief Executive Ronald Kaplan said in a statement.

For the third quarter, the company reported a loss of $22.5 million, or $1.49 a share, compared with a profit of $5.2 million, or 34 cents a share a year ago. Excluding items, it reported a profit of 4 cents a share.

Net sales at the company, whose products are sold at The Home Depot (HD.N) and Lowe's (LOW.N), fell 27 percent to $61.9 million.