UPDATE 1-Exactech sees lower-than-expected Q2, cuts '09 rev view

* Sees Q2 rev at $43 mln vs prior view of $44-$46 mln

* Sees Q2 earnings below prior view of 26-28 cents/shr

* Cuts 2009 rev outlook to $167-$173 mln

* Shares down 5 percent after the bell

July 8 (Reuters) - Exactech Inc (EXAC.O), a maker of orthopaedic implant devices, said second-quarter results would be lower than expected and cut its 2009 revenue forecast, citing weak sales of its knee implant products.

Exactech shares were down more than 5 percent at $12.75 in after-market trade, after closing at $13.52 Wednesday on Nasdaq

For the quarter ending June 30, the company expects to post revenue of about $43 million, compared with its prior forecast of $44 million to $46 million revenue. The company also sees second-quarter earnings below its previous view of 26 cents to 28 cents a share.

For the second quarter, analysts on average were expecting earnings of 27 cents a share, excluding items, on revenue of $44.8 million, according to Reuters Estimates.

Exactech sees 2009 revenue of $167 million to $173 million, compared with its prior outlook of $176 million to $184 million.

Analysts were expecting revenue of $177.1 million for the year. (Reporting by Shailesh Kuber in Bangalore; Editing by Ratul Ray Chaudhuri)