UPDATE 1-Michael Kors posts higher 3rd-qtr profit

* Q3 EPS $0.20 vs $0.16 last yr * Q3 revenue up 68 pct at $373.6 mln * Sees Q4 EPS $0.10-$0.12 * Sees Q4 revenue $350-$355 mln Feb 14 (Reuters) - Luxury lifestyle company Michael Kors Holdings Ltd reported a higher quarterly profit, helped by strong demand for its namesake luxury brand. The company -- which sells fashion accessories, footwear and apparel -- reported a third-quarter profit of $39 million, or 20 cents a share, compared with $27.8 million, or 16 cents a share, a year ago. Michael Kors, which made a strong market debut in December, said