UPDATE 1-International Coal Q2 beats, cuts FY10, FY11 sales view

* Q2 adj EPS $0.07 vs est $0.06/shr

* Q2 rev up 8 pct at $300.4 mln vs est $292.7 mln

* Sees 2010 sales at 16.6 mln-16.8 mln tons

* Sees 2011 sales at 16.5 mln-17.5 mln tons

July 28 (Reuters) - International Coal Group Inc's ICO.N adjusted quarterly profit beat market estimates as margins jumped, but the coal company cut its 2010 and 2011 sales view on its move to sell higher-priced metallurgical coal.

For 2010, the company now expects to sell between 16.6 million and 16.8 million tons. For 2011, it sees sales between 16.5 million to 17.5 million tons of coal. [ID:nWNAB1999] [ID:nWNAB0010]

Net income for the second quarter more than halved to $4.5 million, or 2 cents a share, from $10.4 million, or 7 cents a share, in the year ago quarter.

Excluding items, the company earned 7 cents a share.

Revenue rose more than 8 percent to $300.4 million, primarily due to increased coal sales revenue. Margins jumped 26 percent.

Analysts on average were expecting profit of 6 cents a share on revenue of $292.7 million, according to Thomson Reuters I/B/E/S.

Shares of the Scott Depot, West Virginia-based company closed at $4.49 Wednesday on the New York Stock Exchange. (Reporting by Krishna N. Das in Bangalore; Editing by Roshni Menon)