CORRECTED - CORRECTED-UPDATE 1-Hewitt Q3 profit beats Street; raises FY09 EP

(Corrects paragraph 7 to clarify that John Park is Chief Financial Officer, not Chief Executive)

* Q3 EPS $0.71 vs est $0.60

* Net revenue falls 6 pct

* Raises full-year earnings forecast

* Says leaving revenue outlook unchanged

Aug 4 (Reuters) - Human-resource services company Hewitt Associates HEW.N reported better-than-expected quarterly profit, helped by lower expenses, and raised its full-year earnings outlook by 10 cents. For the third quarter ended June 30, net income rose to $68.4 million, or 71 cents a share, compared with $48.2 million, or 48 cents a share, a year ago.

Net revenue fell 6 percent to $729.0 million.

Analysts on average were expecting earnings of 60 cents a share, before special items, on revenue of $733.6 million, according to Reuters Estimates.

Selling, general and administrative expenses fell 42 percent to $30.3 million in the quarter.

Excluding items, the company now sees fiscal 2009 earnings of $2.55 to $2.65 per share, up from its prior view of $2.45 to $2.55 per share.

"We are leaving our revenue outlook unchanged reflecting some softness in discretionary client spending offset by favorable foreign exchange," Chief Financial Officer John Park said in a statement.

The company expects low- to mid-single digit percentage decline in consolidated net revenue.

Shares of the company closed at $30.24 Monday on the New York Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Aradhana Aravindan)