TORONTO, Jan 9 (Reuters) - ATI Technologies Inc. reported first-quarter results on Wednesday that hit estimates thanks to strong sales of the Nintendo GameCube which runs on the Canadian firm's graphic chips.

ATI, which sells graphic chips to computer makers, said net income in the quarter ended November 30 rose to $10.4 million, or 4 cents per share, adjusted, up from losses of $16.2 million or 7 cents a share in the year-ago quarter.

Analysts polled by Thomson Financial/First Call were expecting earnings of 4 cents per share on revenues in the $245 million to $250 million range.

The company posted an unadjusted loss of $10.1 million, or 4 cents per share, in the quarter.

Shares of ATI, which closed just shy of a year high at $15.42 on Nasdaq and C$24.55 in Toronto on Tuesday, have gained 157 percent since September 20.

Enthusiasm for the stock has been fueled by a handful of new products that have gained rapid customer acceptance and are expected to move ATI into new product categories, including the fast-growing handheld computer market.