UPDATE 1-Ametek Q2 results beats Street, sees strong FY10

* Q2 EPS $0.63 vs est. $0.62

* Revenue $591.9 mln vs est. $588.5 mln

* Orders increase 33 pct

July 27 (Reuters) - Electronic instruments maker Ametek Inc (AME.N) posted better-than-expected quarterly results, helped by a sharp rise in orders and improved operating margins.

Last week, Ametek raised its 2010 EPS outlook to $2.43 to $2.47 from the its prior view of $2.20 to $2.28, to include the benefit of recent acquisitions, including Haydon Enterprise it acquired earlier this month. [ID:nASA00HRI]

"We now anticipate 2010 revenue to be up low double digits on a percentage basis from 2009, reflecting a stronger core growth environment and the impact of recent acquisitions," Chief Executive Frank Hermance said in a statement.

Analysts on average were expecting earnings of $2.43 per share on revenue of $2.35 billion, according to Thomson Reuters I/B/E/S.

For the second quarter, Ametek reported net income of $67.4 million, or 63 cents a share, compared with $51.8 million, or 48 cents a share, a year earlier.

Net sales of the company, which builds monitoring, testing and display devices for the aerospace and industrial markets, rose 13 percent to $591.9 million.

Orders saw a jump of 33 percent, while operating margins improved 170 basis points to 19.5 percent.

Analysts on average were expecting earnings on 62 cents a share on revenue of $588.5 million.

Shares of the company, whose key customers are Boeing Co (BA.N) and Airbus (EAD.PA), closed at $46.10 Monday on the New York Stock Exchange. (Reporting by Megha Mandavia in Bangalore; Editing by Prem Udayabhanu)