UPDATE 2-Dycom Q1 profit lags estimates, sees weak Q2

* Q1 EPS $0.15 vs est $0.17

* Rev down 22 pct

* Sees modest loss per share in Q2, lower rev

* Shares fall 9 pct (Recasts, adds background)

Nov 23 (Reuters) - Engineering and construction services firm Dycom Industries Inc (DY.N) posted a lower-than-expected quarterly profit, hurt by lower contract revenue, and forecast a surprise second-quarter loss, sending its shares down 9 percent.

The company, whose customers include telecommunications providers and utilities, said it expects a modest loss per share for the second quarter as revenue is expected to be down sequentially, reflecting seasonal patterns and slowing capital expenditures by a key customer.

Analysts on average were expecting earnings of 5 cents a share, before special items, on revenue of $238.3 million for the second quarter, according to Thomson Reuters I/B/E/S.

For the first quarter ended Oct. 24, net income was $3.5 million, or 9 cents a share, compared with $10.5 million, or 27 cents a share, a year ago.

Excluding items, the company, whose biggest customers include Verizon Communications Inc (VZ.N), Comcast Corp (CMCSA.O) and AT&T Inc (T.N), earned 15 cents a share.

Contract revenue fell 22 percent to $259.1 million.

Analysts on average had expected earnings of 17 cents a share, before special items, on revenue of $269.3 million.

Dycom said it took a $2.0 million pre-tax charge to settle certain claims. Shares of the company fell more than 9 percent to $7.80 in trading after the bell. They closed at $8.61 Monday on the New York Stock Exchange. (Reporting by Divya Sharma in Bangalore; Editing by Gopakumar Warrier, Maju Samuel) ((divya.sharma@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: divya.sharma.reuters.com@reuters.net))