(RTTNews) - Healthcare information service provider Cerner Corp. (CERN: News ), Wednesday reported a rise in profit for the second quarter despite revenues being virtually flat with last year. Earnings for the quarter came in line with Street estimates, while revenues fell short. Cerner also provided its revised forecast for full year 2009, reaffirming earnings guidance and lowering its revenue outlook. The company also issued third quarter earnings forecast in line with the current Street estimates and revenues below analysts' expectations.

Neal Patterson, Co-founder, Chairman and Chief Executive Officer, Cerner said, "We delivered good earnings and cash flow performance in the second quarter despite the economy continuing to have an impact on our revenue levels."

The Kansas City, Missouri-based company's net earnings for the third quarter increased to $44.00 million from $35.30 million in the prior-year quarter.

Net earnings, excluding items increased to $46.00 million or $0.55 per share from $42.5 million or $0.51 per share in the year-ago quarter.

Adjusted earnings, which exclude the impact of accounting pursuant to Statement of Financial Accounting Standards reduced earnings by $2.3 million and earnings per share by $0.03.

On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.55 per share for the quarter. Analysts' estimates typically exclude one-time charges and gains.

In the first quarter, the company's net earnings increased to $40.83 million or $0.49 per share from $36.82 million or $0.44 per share in the same quarter a year ago. On an adjusted basis, net earnings were $43.29 million or $0.52 per share, up from $39.05 million or $0.47 per share in the year-earlier quarter
Revenues for the second quarter under review rose modestly to $403.81 million from $402.80 million last year. Nineteen analysts had a consensus revenue estimate of $421.53 million for the quarter.

For the preceding first quarter, revenues grew to $392.32 million from $384.77 million in the same period last year.

System sales for the second quarter dropped to $114.30 million from $120.63 million last year, while support, maintenance and services sales increased to $281.44 million from $271.50 million in the prior-year quarter.

Total operating expenses for the quarter declined to $270.80 million from $277.80 million in the year-ago quarter. Sales and client service for the quarter decreased to $171.63 million from $183.00 million last year.

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