UPDATE 2-ScanSource Q4 earnings beat Street, shares rise

* Q4 EPS $0.47 vs est $0.35 * Q4 rev down 20 pct

* Forecasts Q1 above Street view

* Shares rise 8 pct in after-market trade (Adds outlook from conference call, share movement)

Aug 20 (Reuters) - Technology distributor ScanSource Inc (SCSC.O) posted a better-than-expected quarterly profit, helped by strength in its security and communications sales units, and guided first-quarter results above analysts' expectations, sending its shares up 8 percent.

Technology distributors, which are grappling with pricing pressures, should benefit as corporate budgets loosen and consumer demand firms up with slowing pace of economic decline.

For the first quarter of 2010, the company forecast earnings of 39 cents to 43 cents share, on revenue of $445 million to $465 million.

Analysts, on average, were expecting earnings of 35 cents a share, before items, on revenue of $436.8 million, according to Reuters Estimates.

ScanSource distributes automatic identification and data capture, point of sale, communications and electronic security products for companies including Polycom Inc (PLCM.O) and Plantronics Inc (PLT.N).

For the fourth quarter, the company reported earnings of $12.5 million, or 47 cents a share, compared with $14.5 million, or 55 cents a share, in the year-ago period.

Revenue fell more than 20 percent to $441.2 million.

Analysts were expecting earnings of 35 cents a share, excluding items, on revenue of $438.1 million.

Shares of Greenville, South Carolina-based ScanSource were up more than $2 in trading after the market. They closed at $27.86 Thursday on Nasdaq. (Reporting by Bijoy Koyitty in Bangalore; Editing by Pradeep Kurup)