* Q2 net profit ex-items $45 mln vs $28 mln
* Q2 revenue up 21 pct to $168.6 mln
* Sees Q3 revenue $152-$162 mln
JERUSALEM, Aug 9 (Reuters) - Israeli chipmaker TowerJazz forecast a weaker third quarter after posting second-quarter profit that handily beat estimates.
TowerJazz projects revenue of $152-$162 million in the July-September period that would bring revenue for the first nine months of 2012 to $489-$499 million - up 12 to 14 percent over the same period a year ago.
Boosted by improved margins following its acquisition last year of a facility in Nishiwaki, TowerJazz recorded net profit of $45 million in the second quarter excluding one-time items, compared with profit of $28 million a year earlier.
Revenue grew 21 percent to $168.6 million.
Analysts had been looking for profit of $30-$35 million.
TowerJazz cited a tough global economy for its expectation for revenue over the second quarter.
"We are seeing some fluctuations in the market with several of our largest customers down in their revenue and their revenue guidance quarter-over-quarter," said Russell Ellwanger, TowerJazz's chief executive.
