UPDATE 1-Cerner Q2 profit tops estimates, ups 2010 outlook

Wed Jul 28, 2010 4:40pm EDT

* Q2 adj EPS $0.69 vs est $0.68

* Q2 rev $456 mln vs est $449.3 mln

* Raises 2010 outlook

July 28 (Reuters) - Health information technology company Cerner Corp (CERN.O) posted a slightly better-than-expected quarterly profit, helped by strong bookings, and raised its 2010 outlook.

For the second quarter, the company earned $55.5 million, or 65 cents a share, compared with $43.8 million, or 52 cents a share, a year ago. Excluding items, it earned 69 cents a share.

Revenue for the quarter rose 13 percent to $456 million.

Analysts on average expected earnings of 68 cents a share, excluding special items, on revenue of $449.3 million, according to Thomson Reuters I/B/E/S.

For the second quarter, bookings rose 19 percent to $467.8 million.

The company raised its 2010 adjusted earnings view to between $2.85 a share and $2.92 a share, up from a prior range of $2.80 a share and $2.90 a share.

It now expects full-year revenue between $1.83 billion and $1.88 billion, compared with its prior outlook range of $1.80 billion and $1.88 billion.

Shares of the company closed at $75.31 Wednesday on Nasdaq. (Reporting by Krishnakali Sengupta in Bangalore; Editing by Aradhana Aravindan)

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