UPDATE 2-NetLogic Q4 profit, Q1 view beats market, shares jump

* Q4 adj EPS $0.59 vs est. $0.42

* Q4 rev $69.5 mln vs est. $61.9 mln

* Sees Q1 adj EPS $0.56 vs $0.40 est

* Shares rise 10 pct after market (Adds outlook, analyst comment, details)

By Manasi Phadke

BANGALORE, Feb 2 (Reuters) - NetLogic Microsystems Inc NETL.O posted a better-than-expected adjusted quarterly profit, helped by strong design wins and the successful integration of recent mergers, and forecast a strong first quarter, sending its shares up as much as 10 percent.

"Our strong revenue growth in the quarter was due in large part to the early ramps of a number of exciting programs," Chief Financial Officer Mike Tate said on a conference call with analysts.

NetLogic is starting to ramp several new enterprise products at clients like Cisco Systems Inc (CSCO.O) and Juniper Networks Inc (JNPR.N), and new telecommunications infrastructure programs at companies like Alcatel Lucent (ALUA.PA) and Motorola MOT.N, the CFO said.

"NetLogic was far in excess of anyone's expectations both for the fourth quarter and the first-quarter outlook," Brigantine Advisors analyst Allan Mishan said.

For the first quarter, the maker of networking chips used to enhance Internet speeds now expects to earn 56 cents per share, excluding items, on revenue of $85 million.

Analysts were looking for earnings of 40 cents a share, excluding items, on revenue of $69.3 million, according to Thomson Reuters I/B/E/S.

For the latest fourth quarter, the company posted a loss of $37.2 million, or $1.43 per share, compared with a loss of $1.1 million, or 5 cents per share, last year.

Excluding special items, the company earned 59 cents a share, while revenue more than doubled to $69.5 million.

Analysts on average were looking for earnings of 42 cents a share, excluding special items, on revenue of $61.9 million, according to Thomson Reuters I/B/E/S.

NetLogic benefitted from its recent acquisitions of IDT's network search engine business and RMI Corp, a maker of infrastructure and enterprise processors, the Mountain View, California-based company said.

"NetLogic was growing even without RMI, but with RMI it is more diversified and in a position to grow faster," analyst Mishan said.

Revenue from RMI Corp accounted for $14.5 million, while revenue from IDT contributed $9.6 million to fourth-quarter revenue.

Shares of the company rose 10 pct to $47.60 in trading after the bell. They closed at $43.33 Tuesday on Nasdaq. (Reporting by Manasi Phadke in Bangalore; Editing by Unnikrishnan Nair, Anthony Kurian)