MONTREAL-Saputo Inc. reported lower profits for the third quarter because of tougher markets in the United States, but still managed to generate more than $1 billion in revenues for the period.

The Montreal-based company said last month its net profits fell 4% to $55.9 million or 54 cents a share, down from $58.2 million or 56 cents for the same 2003 period.

Revenues for the period ended September 30 rose to just more than $1 billion from $915.5 million.