UPDATE 1-DealerTrack sees 2008 results below Wall Street view

(Recasts, adds details from conference call)

Feb 19 (Reuters) - DealerTrack Holdings Inc (TRAK.O), which provides software for the automotive retail industry, posted a lower quarterly profit and guided its 2008 results below analysts' view, as a slowing economy continues to hit vehicle purchases.

Shares of the company, which have lost nearly 47 percent of their value since touching a high of $50.37 in October 2007, were down $2 to $26.83 in after-market trade on Nasdaq.

For the fourth quarter, the company posted earnings of $4.1 million, or 10 cents a share, compared with $5.7 million, or 14 cents a share in the year-ago quarter.

Excluding items, the company earned 25 cents a share for the latest quarter.

Revenue rose 33 percent to $60.7 million for the quarter.

Analysts were expecting the company to earn 25 cents a share, excluding items, on revenue of $60.4 million, according to Reuters Estimates.

"The fourth quarter saw net new subscription counts impacted by a pull back in spending by some dealers and by the consolidation of certain versions of our software", Chief Executive Mark O'Neil said in a conference call with analysts.

For 2008, the company forecast earnings of $1.14 to $1.18 a share, on revenue of $270 million to $276 million. Excluding items, it expects earnings of $1.14 to $1.18 a share.

The company said its 2008 outlook included the cost of about $7.0 million or 10 cents a share in connection with an outstanding patent litigation.

Analysts on average were expecting earnings of $1.29, excluding items, on revenue of $283.9 million. (Reporting by Bijoy Koyitty in Bangalore; )