UPDATE 1-Ultimate Software Q2 beats, backs 2010 rev view

* Q2 adj EPS $0.09 vs est $0.08

* Q2 rev $54.7 mln vs est $54.2 mln

* Maintains 2010 rev view

July 27 (Reuters) - Ultimate Software Group Inc (ULTI.O) posted an adjusted quarterly profit that beat analysts' expectations by a penny, helped by higher revenue, and reiterated its revenue forecast for the full year.

The company, which provides human resources and talent management software, expects full-year revenue to increase by about 18 percent from 2009.

Second-quarter net loss widened to $594,000, or 2 cents a share, from $330,000, or 1 cent a share, a year ago.

Excluding items, the company earned 9 cents a share.

Revenue rose 16 percent to $54.7 million.

Analysts on average were expecting earnings of 8 cents a share, on revenue of $54.2 million, according to Thomson Reuters I/B/E/S.

Shares of the Weston, Florida-based company closed at $36.36 Tuesday on Nasdaq. (Reporting by Sudipto Ganguly in Bangalore; Editing by Unnikrishnan Nair)