Full Year Net Revenues up 93.3%; Full Year Net Income up 283.0%
SHANGHAI, China, March 12 /Xinhua-PRNewswire-FirstCall/ -- WuXi
PharmaTech (Cayman) Inc. (NYSE: WX), the leading global pharmaceutical,
biotechnology and medical device R&D outsourcing company headquartered in
Shanghai, China, today announced its unaudited financial results for the
fourth quarter and full year ended December 31, 2007.
Fourth Quarter 2007 Highlights:
Compared to the fourth quarter 2006 results,
-- Total net revenues increased 62.4% to $37.1 million.
-- Net income increased 205.7% to $12.1 million.
-- Non-GAAP net income increased 156.7% to $16.6 million.
-- Diluted earnings per American Depositary Share ("ADS") were $0.17.
Diluted earnings per ADS excluding share-based compensation expenses
(non-GAAP) were $0.23.
Full Year 2007 Highlights:
Compared to full year 2006 results,
-- Total net revenues increased 93.3% to $135.2 million.
-- Net income increased 283.0% to $33.9 million.
-- Non-GAAP net income increased 158.5% to $44.6 million.
-- Diluted earnings per ADS were $0.42. Diluted earnings per ADS
excluding share-based compensation expenses (non-GAAP) were $0.59.
Commenting on the fourth quarter and full year results, Dr. Ge Li,
Chairman and Chief Executive Officer of WuXi PharmaTech said, "2007 was an
historic year for WuXi, marked by a number of key strategic and tactical
milestones. Riding on the rising wave of demand for pharmaceutical and
biotechnology R&D outsourcing services, our business experienced phenomenal
growth, with revenues for the year at $135 million, up 93% from 2006,
attributable to a strong performance across both
|SOURCE WuXi PharmaTech (Cayman) Inc.|
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