UPDATE 2-Mobile Mini Q4 profit beats estimates

* Q4 EPS 42 cents vs est 38 cents

* Q4 rev rises 47 pct to $123.0 mln

* Will not provide specific annual forecast (Adds conf call details, updates share movement)

Feb 26 (Reuters) - Mobile Mini Inc (MINI.O), a provider of portable storage containers, posted a quarterly profit that beat analysts' estimates, boosted by a 47 percent rise in quarterly revenue.

The company, however, said it was suspending its practice of providing annual guidance, given the depressed economy, particularly the non-residential construction and the consumer sectors, and tight credit markets.

"For 2009, we are managing our business and cost structure assuming revenue will decline 10 percent to 15 percent from fourth-quarter levels," a company executive said on a conference call with analysts.

This would imply a revenue growth of about 1 percent to 7 percent from 2008 levels. Revenue for 2008 was $415.4 million.

For the fourth quarter, it reported net income of $246,000 compared with $12.4 million a year earlier. Excluding certain items, the company earned 42 cents a share.

Analysts were expecting a profit of 38 cents a share, before items, on revenue of $129.4 million, according to Reuters Estimates.

Mobile Mini, which cut 430 positions during the fourth quarter, said it would continue to cut costs and reduce net capital expenditures to between $15 million and $25 million.

The Tempe, Arizona-based company expects annual payroll savings of $6.6 million in 2009 from the job cuts.

Mobile Mini shares were down about 2 percent at $9.94 in late afternoon trade on Nasdaq.

For the alerts, double-click on [ID:nWNAB7394] [ID:nWNAB7636] (Reporting by Mary Meyase in Bangalore; Editing by Amitha Rajan, Himani Sarkar)