* Q1 earnings 35c/share
* Sees FY 2010 EPS $1.48 to $1.68
* Q1 sales $1.06 billion
NEW YORK, April 28 (Reuters) - Bubble Wrap packaging maker Sealed Air Corp (SEE.N) said on Wednesday that first-quarter profit rose on a 7-percent increase in sales and increased volumes for new products.
Net income was $61.2 million, or 35 cents per share, up from $58.1 million, or 32 cents per share, a year earlier, the Elmwood Park, New Jersey-based company said.
Excluding one-time items, the company posted earnings of 36 cents per share. Sales rose 7 percent to $1.06 billion.
Analysts on average had expected earnings of 35 cents per share and sales of $1.069 billion, according to Thomson Reuters I/B/E/S.
Sealed Air said it is maintaining its estimate for full-year 2010 earnings per share in the range of $1.48 to $1.68, or $1.50 to $1.70 excluding a charge. Analysts currently expect $1.60 per share for the year. (Reporting by Steve James, editing by Gerald E. McCormick)