UPDATE 1-Skilled Healthcare Q1 profit rises; backs FY outlook

* Q1 EPS $0.29 vs $0.23 year ago

* Q1 revenue rises 5 pct to $189.5 mln

May 5 (Reuters) - Skilled Healthcare Group Inc (SKH.N) posted a 29 percent rise in quarterly profit, helped by higher revenue from its long-term care services segment, and the company stood by its full-year outlook.

For the first quarter, the company's net income was $10.9 million, or 29 cents a share, compared with $8.4 million, or 23 cents a share, a year earlier. Revenue rose 5 percent to $189.5 million.

Analysts on average expected earnings of 27 cents a share, excluding special items, on revenue of $194.1 million, according to Reuters Estimates.

Revenue from Skilled Healthcare's long-term care services segment, comprising skilled nursing and assisted living facilities, rose 4 percent to $165.5 million.

The company, which also provides hospice care, reiterated its fiscal 2009 outlook for earnings of $1.08 to $1.14 a share, on revenue of $792 million to $802 million.

Analysts on average were expecting earnings of $1.09 a share, on revenue of $792.6 million.

Shares of the company, which competes with Sun Healthcare Group (SUNH.O) and Kindred Healthcare Inc (KND.N), closed at $9.97 Monday on the New York Stock Exchange.

For the alerts, double-click [ID:nWNAB3096] (Reporting by Anand Basu in Bangalore; Editing by Deepak Kannan)