UPDATE 2-BMC profit beats outlook on expense controls

(Adds comments from CEO and analyst. Updates shares)

By Jim Finkle

BOSTON, May 15 (Reuters) - BMC Software Inc (BMC.N: Quote, Profile, Research, Stock Buzz) reported a quarterly profit and outlook on Thursday that beat analyst forecasts, as it grew revenue while controlling expenses, sending its shares higher.

The company, which sells software for automating data center operations, posted a fiscal fourth-quarter profit, excluding items, of 63 cents per share, beating its own forecast of 48 cents to 52 cents.

Revenue rose 11.3 percent to $467 million, outpacing a 1 percent gain in operating expenses and beating the company's forecast of $450 million to $465 million.

Analysts had expected a profit, excluding items, of 51 cents per share on revenue of $460 million for the period, which ended March 31.

"They did a terrific job of controlling expenses," said Richard Sherman, an analyst with MKM Partners LLC.

BMC shares rose 4.3 percent in after-market trading to $37.99 after ending up 1.7 cents at $36.43 on the New York Stock Exchange.

The stock has risen 14 percent over the past year. That is better than the performance of key rivals CA Inc (CA.O: Quote, Profile, Research, Stock Buzz), whose stock fell 14 percent over the same period, and Hewlett-Packard Co (HPQ.N: Quote, Profile, Research, Stock Buzz), which is up 1 percent.