NEW YORK (Reuters) - Electrical products maker Cooper Industries Ltd posted better-than-expected quarterly profit yesterday and gave a 2009 forecast that may be higher than analysts anticipated, sending shares up 4.4 percent in early trading.

The earnings beat was due to lower interest expenses and a lower tax rate, Wachovia analysts said in a note to clients.

The maker of lighting and power systems reported earnings of $100.1 million, or 59 cents per share, compared with $153.4 million, or 86 cents per share a year earlier.

Excluding items, the company earned 47 cents per share, 1 cent above Wall Street forecasts.

Revenue fell 19 percent to $1.26 billion, compared with Wall Street forecasts for sales of $1.31 billion.

Houston-based Cooper said it now expects 2009 earnings from continuing operations in a range of $2.30 to $2.60 per share, down from its January forecast of $2.45 to $2.80 per share.

But the midpoint of the new, lower range was above average analyst forecasts of $2.39 a share for the year.

The company said it cut 650 jobs in the first quarter, on top of the 2,200 jobs it cut in the fourth quarter of 2008.

Cooper shares gained $1.28 to $30.43 in early trading on the New York Stock Exchange.