UPDATE 2-Hot Topic tops Q1 estimates, but forecasts Q2 loss

* Q1 profit 3 cents/shr vs est of 2 cents

* Q1 rev up 10 pct

* Sees Q2 loss * Shares fall 9 pct after market (Recasts; adds conference call details, analyst comments; updates stock movement)

May 20 (Reuters) - Hot Topic Inc (HOTT.O), which had so far bucked weak trends in apparel, forecast a second-quarter loss due to a slowdown in traffic post Easter, sending its shares down as much as 9 percent in trading after the bell.

The mall and web-based retailer, which also reported a quarterly profit for the first quarter compared with a loss a year ago, now expects a second-quarter loss of 4 cents a share to 6 cents a share, including charges related to its web-based store, ShockHound.

Revenue for the period is expected to be in the range of $161 million to $165 million, the company said during a conference call with analysts.

Analysts were expecting a profit of 1 cent in the second quarter on revenue of $172.6 million, according to Reuters Estimates.

Analyst Brian Sozzi of Wall Street Strategies Inc (wstreet.com) said Hot Topic looks to be using the seasonally slow second quarter to clear excess inventory ahead of the back-to-school season.

"I think what you may have seen in the (second-quarter) estimates is the belief that Twilight product would help smooth out the results," he said.