UPDATE 1-Arch Chemicals Q3 beats Wall St, forecast

* EPS ex-items of 44 cents tops Wall St view of 33 cents

* Revenue off 5 pct to $351 mln, lags analysts' view

NEW YORK, Nov 4 (Reuters) - Arch Chemicals Inc (ARJ.N) reported better-than-expected profit on Wednesday and narrowed its full-year forecast to the upper end of its previous range.

Net income for the third quarter was $10.3 million, or 41 cents per share, down from the 17 million, or 68 cents per share, a year before.

Excluding severance to executives, earnings per share of 44 cents beat the 33 cents per share that analysts had expected, according to Thomson Reuters I/B/E/S estimates.

Revenue fell 5 percent to $350.5 million, slightly below the $359.5 million analysts had expected.

The company narrowed its profit per share forecast for the full-year to between $1.65 and $1.80 from the previous forecast of $1.60 to $1.80. (Reporting by Matt Daily and Ernest Scheyder, editing by Gerald E. McCormick)