UPDATE 3-Constellation Brands profit rises; outlook intact

(Adds details from conference call, analyst comments)

NEW YORK, July 1 (Reuters) - Constellation Brands Inc (STZ.N) posted better-than-expected quarterly earnings on Tuesday on price increases and sales of higher-profit products such as Clos du Bois wine, sending its shares up almost 6 percent.

The company, which also sells spirits and beer, affirmed its profit outlook for fiscal 2009.

Net income rose to $44.6 million, or 20 cents per share, in the first quarter, ended on May 31, from $29.8 million, or 13 cents per share, a year earlier.

Excluding restructuring costs, acquisition-related expenses and other items, the maker of Robert Mondavi wine and Svedka vodka said it earned 34 cents per share, beating analysts' average forecast of 31 cents, according to Reuters Estimates.

Net sales rose to $931.8 million from $901.2 million.

Net sales increased 24 percent in the branded wine unit, boosted by double-digit market growth in the United States for lines such as Simi and Kim Crawford. Driven primarily by Svedka, sales in the spirits unit rose 9 percent.

Operating income rose $58 million in the wines segment, but were down $5 million in the spirits unit, as the company cited higher investment behind premium brands, planned marketing increases and higher raw material costs.

Citing expectations for slowing U.S. spirits volume growth, UBS analyst Kaumil Gajrawala said Constellation "may need to accelerate marketing spending through (calendar year 2008) to drive volume."