UPDATE 1-Maxim Integrated Q1 profit falls 38 pct

* Q1 EPS $0.13 vs $0.21 yr ago

* Revenue falls 10 pct

* Sees Q2 rev $450 mln-$465 mln vs est $454.8 mln

* Shares down 5 pct in post-market trade

Oct 29 (Reuters) - Maxim Integrated Products Inc's (MXIM.O) quarterly profit slumped 38 percent, partly hurt by a drop in demand for electronics and higher selling, general and administrative expenses.

The chipmaker, which makes analog and mixed signal chips used for power, management and digital sensing functions, expects second-quarter revenue of $450 million to $465 million.

Analysts expect revenue of $454.8 million, according to Thomson Reuters I/B/E/S.

For the first quarter, the company earned $42.0 million, or 13 cents a share, compared with $67.6 million, or 21 cents a share, a year ago.

Maxim Integrated, which competes with Analog Devices Inc (ADI.N), National Semiconductor Corp NSM.N and Texas Instruments Inc TXN.N, said special expense items reduced earnings per share by 3 cents.

Revenue fell 10 percent to $449.2 million.

Analysts expected earnings of 12 cents a share, before items, on revenue of $438.4 million.

Selling, general and administrative expenses rose 37 percent to $55.0 million.

Maxim Integrated makes chips for automotive, communications, consumer electronics and computing and storage markets.

Shares of the company were down 5 percent at $17.00 in extended trading. They closed at $17.86 Thursday on Nasdaq. (Reporting by Manasi Phadke in Bangalore; Editing by Anne Pallivathuckal)