UPDATE 1-Carl's Jr parent beats Wall Street view, shares up

* Q1 adjusted EPS $0.29, tops Wall St view of $0.25

* Shares rise 7.6 percent

LOS ANGELES, June 24 (Reuters) - CKE Restaurants Inc (CKR.N), parent of the Carl's Jr and Hardee's fast-food chains, posted better-than-expected quarterly earnings, as cost cuts helped it protect profits from falling sales.

The shares in the company, known for its oversized hamburgers and provocative advertisements, rose 7.6 percent in extended trading.

The company said fiscal first-quarter net income fell to $14.4 million, or 26 cents per diluted share, during the quarter ended May 18. That compares with its year-earlier net income of $16.6 million, or 31 cents per share.

The company reported a profit of 29 cents per share, excluding mark-to-market adjustments. Analysts, on average, were looking for a profit of 25 cents per share.

Carpinteria, California-based CKE said Sales at Carl's Jr restaurants open at least 13 months fell 5.1 percent, while sales at established Hardee's outlets rose 2.5 percent during the quarter.

The company previously said that joblessness in its key market of California, where the unemployment rate has topped 11 percent, had dampened sales.

Total revenue was $446.8 million, down from $466.2 million.

"We held company-operated restaurant-level margin flat (at 19.9 percent) to the prior year and increased operating income, despite a 1.8 (percent) decrease in company-operated same-store sales during the quarter," CKE Chief Executive Andrew Puzder said in a statement.

CKE shares closed up 2.1 percent at $8.70 on the New York Stock Exchange and rose to $9.36 in after-hours trading. (Reporting by Lisa Baertlein; editing by Andre Grenon)