UPDATE 1-Dollar Financial Q1 profit tops market, ups FY view

* Q1 EPS, ex items, $0.66 vs. est $0.41

* Sees 2010 EPS $2.10 to $2.30 vs est. $1.84/shr

* Consolidated loan loss provision falls

Nov 2 (Reuters) - Dollar Financial Corp (DLLR.O) posted a first-quarter profit that topped market estimates, helped by a fall in provision for loan losses, and forecast 2010 earnings above expectations.

The pay day lender and pawnshop operator expects fiscal 2010 earnings between $2.10 a share and $2.30 a share, excluding items. Analysts were expecting earnings of $1.84 a share, according to Thomson Reuters I/B/E/S.

For the latest first quarter, the company posted a net income of $5.3 million, or 22 cents a share, compared with $11.3 million, or 46 cents a share, a year earlier.

On a pro forma basis, it earned 66 cents a share.

Total revenue fell 7 percent to $141.8 million

Analysts on average expected a profit of 41 cents a share, excluding items, on revenue of $132.9 million.

Provision for loan losses, which is expressed as a percentage of gross consumer lending revenue, improved to 14.8 percent from 18.7 percent a year earlier.

Shares of the Berwyn, Pennsylvania-based company closed at $18.10 Monday on Nasdaq. (Reporting by Jochelle Mendonca in Bangalore; Editing by Unnikrishnan Nair) (jochelle.mendonca@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: jochelle.mendonca.reuters.com@reuters.net))