* Q2 EPS ex-items 51 cents vs Wall St view 44 cents

* Sales down 0.5 pct at $1.50 billion

* Raises full-year profit view

(Adds estimates, outlook)

NEW YORK (Reuters) - Newell Rubbermaid Inc's
quarterly profit beat analysts' estimates on price
hikes and strong demand in Latin America and other key markets,
prompting the consumer products maker to raise its full-year
outlook.

A move to exit more commoditized product categories like
plastic storage boxes, shelving and wooden pencils also helped
the maker of Rubbermaid containers and Sharpie pens.

The company, which also makes Graco strollers, Calphalon
cookware and Paper Mate pens, said second-quarter net income
rose to $130.4 million, or 41 cents a share, from $105.7
million, or 37 cents a share, a year earlier.

Excluding items, it earned 51 cents a share, well ahead of
the analysts' average estimate of 44 cents, according to
Thomson Reuters I/B/E/S.

Net sales fell 0.5 percent to $1.50 billion, while analysts
on average expected $1.52 billion.

The company, whose customers range from discounter Target
Corp <TGT.N> to high-end retailer Williams-Sonoma <WSM.N>, sees
2010 earnings of $1.40 to $1.50 a share before items, up from
its prior forecast of $1.38 to $1.48.

Newell continues to expect net sales growth at a low- to
mid-single-digit percentage rate and margins to rise by 0.75 to
1.00 percentage point in the year.
(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)