UPDATE 2-Celgene posts Q4 profit vs loss; sales rise

* Celgene posts Q4 non-GAAP EPS of 62 cents/shr

* Q4 revenue up 22 pct to $758 million

* Sees 2010 non-GAAP EPS $2.55 to $2.60/shr (Updates with full-year figures, 2010 Revlimid forecast)

BOSTON, Jan. 28 (Reuters) - Celgene Corp (CELG.O) on Thursday posted a fourth-quarter profit and higher sales of its cancer drugs Revlimid and Vidaza, compared with a loss a year ago, when it was hurt by acquisition-related costs.

The company reported net earnings of $254 million, or 54 cents a share, compared with a net loss of $149.3 million, or 33 cents a share a year ago.

The company posted earnings excluding one-time items of 62 cents a share, in line with the average estimate from analysts polled by Thomson Reuters I/B/E/S. That compared with earnings excluding items of $200.9 million, or 43 cents a share, a year ago.

Revenue rose 22 percent to $758 million.

Fourth-quarter sales of Revlimid rose 34 percent to $497 million, while sales of Vidaza rose 68 percent to $117 million.

The Summit, New Jersey-based company said it expects earnings in 2010 to rise about 25 percent to a range of $2.55 to $2.60 a share, excluding one-time items. Analysts are expecting 2010 earnings of $2.63 a share.

Celgene said it expects 2010 revenue of $3.2 billion to $3.3 billion. It expects sales of Revlimid, the company's most important growth driver, to rise about 25 percent to a range of $2.1 billion to $2.2 billion.

The company reported full-year 2009 net earnings of $777 million, or $1.66 a share. Earnings excluding one-time items were $971 million, or $2.08 a share. Revenue rose 20 percent to $2.68 billion. Sales of Revlimid rose 29 percent to $1.71 billion.

Celgene released unaudited figures for the quarter on Jan. 11. Analysts were disappointed initially with the 2010 earnings outlook but focused on strong sales, especially of Revlimid.

(Reporting by Toni Clarke, editing by Dave Zimmerman)