UPDATE 1-Kaydon Q1 beats Street

* Q1 adj EPS $0.40 vs est $0.38

* Revenue $108.3 mln vs est $109 mln (Follows alerts)

May 6 (Reuters) - Kaydon Corp , which makes specialty ball bearings for wind turbines, posted better-than-expected quarterly profit, helped by improving global capital expenditure and capacity utilization.

Kaydon, whose end markets include alternative energy, industrial, aerospace, medical and electronic equipment, said sales at industrial end markets grew almost 20 percent.

First-quarter net income was $12 million, or 36 cents a share, compared with $13.8 million, or 41 cents a share, a year earlier. Excluding items, the company earned 40 cents a share.

Net sales fell 9 percent to $108.3 million. Orders grew 10 percent to $110.4 million.

Analysts, on average, were expecting earnings of 38 cents a share on revenue of $109 million, according to Thomson Reuters I/B/E/S.

Shares of the Ann Arbor, Michigan-based company closed at $37.75 on Thursday on the New York Stock Exchange. (Reporting by Megha Mandavia in Bangalore; Editing by Joyjeet Das) (megha.mandavia@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging; megha.mandavia.reuters.com@reuters.net))