UPDATE 1-Parexel posts flat Q3 profit, ups '09 profit view

* Q3 service revenue up 8 pct

* Lowers 2009 service rev view

* Raises 2009 profit view

* Shares jump 15 pct after the bell

April 27 (Reuters) - Parexel International Corp (PRXL.O) posted a flat quarterly profit as higher expenses offset an 8 percent increase in service revenue, and the company raised its profit forecast for 2009, sending its shares up 15 percent.

The company which provides research, communications and consulting services to drugmakers and medical device companies, posted service revenue of $264.5 million for the third quarter ended March 31, up from $245.3 million a year ago.

The Waltham, Massachusetts-based company said its order backlog was up about 7 percent at $2.04 billion by the end of the March quarter.

Last week, the company's rivals Kendle International Inc (KNDL.O) and Pharmaceutical Product Development Inc (PPDI.O) had issued weak forecasts, citing project cancellations.

For the third quarter, the company posted a flat net income of $14.2 million, or 25 cents a share. Total revenue rose 5.5 percent to $311 million.

Analysts, on an average, were expecting a profit of 23 cents a share, before special items, on revenue of $276.6 million, according to Reuters Estimates.

The company raised its 2009 profit forecast to 97 cents to 99 cents per share, before special items, from its previous view of 94 cents to 98 cents.

Parexel shares were trading at $9.30 after the bell. They closed at $8.08 Monday on Nasdaq.

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For the company press release, double-click [ID:nPnNE05758] (Reporting by Vidya L Nathan in Bangalore; Editing by Deepak Kannan)