UPDATE 2-Atheros sees strong Q2 as inventory concerns ease

* Q1 loss $0.12/shr

* Q1 non-GAAP EPS $0.06 vs est $0.04

* Sees Q2 EPS $0.12-$0.14

* Says customers beginning to replenish inventory

(Adds conference call details)

April 23 (Reuters) - Wireless networking chipmaker Atheros Communications Inc (ATHR.O) posted a better-than-expected quarterly profit, and forecast a strong second quarter as inventory concerns begin to ease.

Shares of the company were trading up 4 percent after the bell. They had closed at $17.01 Thursday on Nasdaq.

For the second quarter, the company said it expects to post earnings of 12 cents a share to 14 cents a share.

Analysts were expecting the company to earn 6 cents a share on sales of $86.1 million for the period.