UPDATE 2-DemandTec Q1 beats Street, cuts FY10 rev growth view

* Q1 adj earnings beat estimates

* Q1 rev up 8 pct

* Cuts FY10 rev growth view

* Sees Q2 adj EPS $0.02

* Shares fall 2 pct in trading after the bell (Recasts; adds outlook; updates share movement)

BANGALORE, July 1 (Reuters) - Software company DemandTec Inc (DMAN.O) posted a better-than-expected first-quarter results, but lowered its fiscal 2010 revenue growth forecast.

"Our expectation has been and continued to be that for much of our fiscal year 2010, the economic environment will not improve and it will take longer to get deals closed," Chief Executive Dan Fishback said in a conference call.

The company forecast second-quarter earnings of 2 cents a share, on revenue of $19.5 million to $19.7 million. Analysts were looking for earnings of 1 cent a share, excluding items, on revenue of $20.5 million. [ID:nWNAB3837]

DemandTec now expects fiscal 2010 revenue growth of 5 percent to 10 percent, from prior expectations of a growth of 10 percent to 18 percent.