UPDATE 1-Stillwater Mining Q1 misses Street view

* Q1 EPS $0.34 vs est $0.36

* Revenue up 27.4 pct to $170.1 mln (Follows alerts)

May 3 (Reuters) - Stillwater Mining Co , a producer of platinum and palladium, posted quarterly results that lagged market expectations on rising production costs and wages.

The Columbus, Montana-based company's January-March net income was $36.2 million, or 34 cents a share, compared with $13.4 million, or 14 cents a share, a year ago.

Revenue rose 27.4 percent to $170.1 million.

Analysts on an average were expecting earnings of 36 cents a share on revenue of $185.6 million, according to Thomson Reuters I/B/E/S.

Total production costs rose by a fifth to $437 per ounce mined.

Shares of the company closed at $22.4 on Monday on the New York Stock Exchange. (Reporting by Mayuresh Tungare in Bangalore; Editing by Roshni Menon)