UPDATE 2-Rofin-Sinar posts Q2 below Street

* Sees Q3 revenue flat sequentially

* Q2 EPS $0.04 vs $0.35 year ago

* Revenue falls 45 pct

(Recasts; adds analyst's comments, conference call details, updates share movement)

BANGALORE, May 7 (Reuters) - Laser-based tools maker Rofin-Sinar Technologies Inc (RSTI.O: Quote, Profile, Research) posted lower-than-expected quarterly results, hurt by low order entry levels across all industries, and said it expects third-quarter revenue to be flat sequentially.

Longbow Research analyst Mark Douglass said he does not expect third-quarter results to be a lot better, due to the company's exposure to the machine tools and automotive markets, which have been hit by falling demand.

Rofin-Sinar, which competes with peers such as IPG Photonics Corp (IPGP.O: Quote, Profile, Research), said it will continue to take further steps to adjust its cost structure.

The company expects to have further head count reductions and maintain its short work weeks, Chief Financial Officer Ingrid Mittelstadt said on a conference call with analysts. For the second quarter ended March 31, net income fell to $1.2 million, or 4 cents a share, from $10.8 million, or 35 cents a share, a year earlier.

Revenue fell 45 percent to $75.6 million, hurt by a strong U.S. dollar.