UPDATE 1-Netezza Q2 beats Street; shares rise

* Q2 adj EPS $0.09 vs est $0.06

* Q2 revenue up 45 pct

* Raises full-year revenue-growth outlook

* Shares up 15 pct in extended trade

Aug 26 (Reuters) - Data storage company Netezza Corp NZ.N posted a better-than-expected quarterly profit, helped by a 58 percent rise in product revenue, and raised its revenue-growth outlook for the full year.

The company, known for its flagship blade server-based appliance TwinFin, reported earnings of $3.2 million, or 5 cents a share, compared with earnings of $730,000, or 1 cent a share, a year ago.

On an adjusted basis, the company posted earnings of 9 cents a share.

Revenue rose 45 percent to $63.8 million. Product revenue rose to $47.3 million.

Analysts on average were expecting earnings of 6 cents a share, before items, on revenue of $53.9 million, according to Thomson Reuters I/B/E/S.

Marlborough, Massachusetts-based Netezza, which competes with Oracle Corp (ORCL.O), Teradata Corp (TDC.N) and IBM (IBM.N), said it expects full-fiscal year revenue to grow by about 30 percent.

The company's shares, which have gained 68 percent in the last six months, were trading at $17.20 after the bell. They closed at $14.92 Thursday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; Editing by Vinu Pilakkott)