UPDATE 1-Hewitt Q2 profit jumps 52 pct; lowers '09 revenue view

martes 5 de mayo de 2009 13:52 CEST

* Q2 EPS $0.71 vs $0.43 year ago

* Revenue falls more than 3 pct

May 5 (Reuters) - Hewitt Associates Inc HEW.N reported a 52 percent rise in net profit as expenses fell, but the human-resource services company lowered its 2009 revenue outlook due to weakness in customers' discretionary spending. For the second quarter ended March 31, net income was $67.5 million, or 71 cents a share, compared with $44.5 million, or 43 cents a share, a year earlier.

On an adjusted basis, the company earned 60 cents a share.

Revenue for the company, whose rivals include Watson Wyatt Inc WW.N and Paychex Inc (PAYX.O: Cotización), fell more than 3 percent to $746.3 million.

Total operating expenses fell 9 percent to $654.9 million for the quarter.

Analysts on average were expecting earnings of 55 cents a share, before special items, on revenue of $753.5 million, according to Reuters Estimates.

For 2009, the company still sees earnings of $2.45 to $2.55 a share.

It now expects low- to mid-single-digit percentage decline in 2009 consolidated net revenue, compared with its prior view of a low-single-digit percentage decline.

Shares of the company closed at $31.46 Monday on the New York Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Deepak Kannan)