UPDATE 1-BigBand posts qtrly profit, sees weak Q2; shares drop

* Q1 non-GAAP EPS $0.09 beats estimates by 4 cents

* Sees Q2 non-GAAP EPS $0.02-0.04 vs $0.06

* Shares down 14 percent

Feb 12 (Reuters) - Network equipment maker BigBand Networks Inc (BBND.O) reported a quarterly profit that topped analysts' expectations but forecast a weak second quarter as its customers continue to remain cautious on spending, sending its shares down 14 percent in extended trading.

The company's products are used by cable operators and telephone companies such as Cablevision, Comcast and Verizon to to offer video services.

For the first quarter, BigBand earned $2.3 million, or 3 cents a share, compared with a loss of $1.9 million, or 3 cents a share, in the year-ago quarter.

Excluding stock-based compensation expenses and other charges, the company earned 9 cents a share. Revenue rose 10 percent to $43.9 million.

Analysts were expecting the company to earn 5 cents a share on sales of $44.3 million for the period.

For the second quarter, the company expects earnings of 2 cents to 4 cents a share, excluding items, on revenue of $40 million to $42 million.