UPDATE 1-Mobile Mini Q2 profit in line with Wall Street view

(Recasts; adds details, share movement)

Aug 7 (Reuters) - Mobile Mini Inc (MINI.O), a provider of portable storage containers, posted a second-quarter profit that was in line withmarket estimates, and lowered the upper end of its full-year earnings forecast range.

In May, the company had said it would revise its 2008 outlook to factor in the acquisition of its closest rival Mobile Storage Group and related integration, consolidation and other costs. Mobile Mini completed the deal in June.

For the second quarter, Mobile Mini earned $4.9 million, or 14 cents a share, compared with $6.3 million, or 17 cents a share, in the year-ago period.

Excluding items, the company earned 35 cents a share, which is in line with analysts' average expectation.

Revenue increased more than 3 percent to $81.1 million, helped by a 3.5 percent rise in lease revenue. Analysts were expecting $82.9 million, according to Reuters Estimates.

Expenses rose 31 percent on integration and merger costs.

In the latest quarter, margins were hurt by the UK infrastructure costs which have been fully in place since the third quarter of 2007, the company said in a statement.

For the full year, the company expects to earn $1.50 to $1.55 a share, excluding items. It had earlier forecast earnings of $1.50 and $1.60 a share.

Shares of the company were up 39 cents at $20.95 in early morning trade. They closed at $20.56 Wednesday on Nasdaq. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Himani Sarkar)