UPDATE 1-Pegasystems Q1 misses Street; shares fall

* Q1 EPS $0.10 vs est $0.23

* Ups 2010 rev view

* Shares fall 6 pct after mkt

April 22 (Reuters) - Software maker Pegasystems Inc (PEGA.O) posted much weaker-than-anticipated quarterly earnings, hurt by acquisition-related charges, sending its shares down 6 percent in after-market trade.

The company, which completed the acquisition of customer relationship management software maker Chordiant Software on Wednesday, raised it 2010 revenue outlook to about $348 million, including items, from its prior view of about $315 million.

Pegasystems expects the Chordiant acquisition to add to earnings, but did not provide updated 2010 earnings forecast as it was yet to finish its purchase accounting.

For the first quarter the company, which makes software to automate business processes, reported net earnings of $3.9 million, or 10 cents a share, compared with $8.6 million, or 23 cents a share, a year ago.

Total revenue for the quarter rose 20 percent to $75.1 million. Analysts were expecting earnings of 23 cents a share, on revenue of $74.4 million, according to Thomson Reuters I/B/E/S. [ID:nWNAB1129]

Shares of the Cambridge, Massachusetts-based company fell to $37 in extended trading. They had closed at $39.29 Thursday on Nasdaq. (Reporting by Sayantani Ghosh in Bangalore; Editing by Ratul Ray Chaudhuri)