UPDATE 1-Superior Energy posts better-than-expected Q2 results

* Q2 adj EPS $0.43 vs est $0.38

* Q2 rev up 14 pct to $424.9 mln

* Sees FY10 EPS $1.35-$1.55 vs est $1.47

* Says "uncertainty remains" in GoM

July 28 (Reuters) - Oilfield services company Superior Energy Services Inc (SPN.N) posted better-than-expected quarterly results, but said its full-year profit may be hurt by drilling moratorium in the Gulf of Mexico.

The company expects full-year profit between $1.35 a share and $1.55 a share.

Analysts on average expected annual profit of $1.47 a share, according to Thomson Reuters I/B/E/S.

"While uncertainty remains regarding the pace at which drilling activity will return to the deepwater, the majority of our Gulf of Mexico assets are focused on shallow water production," Chief Executive David Dunlap said in a statement.

The company that provided accommodations and liftboats in oil spill response work, said it was in the process of redeploying its assets from GoM to land markets.

For the second quarter, the drilling and production-related equipment provider's net income was $24.1 million, or 30 cents a share, compared with $21.5 million, or 27 cents a share, a year ago.

Excluding items, Superior Energy earned 43 cents a share.

Revenue rose 14 percent to $424.9 million.

Analysts on average were expecting a profit of 38 cents a share, before items, on revenue of $397.4 million, according to Thomson Reuters I/B/E/S.

Shares of the New Orleans, Louisiana-based company closed at $23.83 Wednesday on the New York Stock Exchange. (Reporting by Swati Chitnis and Vinay Sarawagi in Bangalore; Editing by Maju Samuel)