UPDATE 1-Interactive Intelligence sees Q3 above estimates

* Sees Q3 EPS ex items $0.28 to $0.31 vs est $0.15

* Sees Q3 rev above Street expectations

* Shares rise 15 pct in extended trade

Oct 12 (Reuters) - Business software company Interactive Intelligence Inc (ININ.O) forecast third-quarter earnings way above Wall Street expectations, helped by a rise in product and services revenues, sending its share up 15 percent in trading after the bell.

"We received two license orders that were each more than $1 million and eight other orders each worth more than $250,000," Chief Executive Donald Brown said in a statement.

The company, which provides call center software and IP telephony products, said it expects net income of $2.5 million to $2.9 million, or 13 cents to 16 cents per share, for the quarter ended Sept. 30.

Excluding items, the company expects to post earnings of 28 cents to 31 cents a share, on revenue of $32 million to $34 million.

Analysts on an average were expecting earnings of 15 cents a share, on revenue of $31.3 million, according to Thomson Reuters I/B/E/S.

Interactive Intelligence will report third-quarter results on Oct 26.

Shares of the Indianapolis-based company were up $2.78 at $21.85 in trading after the bell. They closed at $19.07 Monday on Nasdaq. (Reporting by Shrutika Verma in Bangalore; Editing by Aradhana Aravindan)