SHANGHAI, March 25 /PRNewswire-Asia/ -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading research and development outsourcing company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China and the United States, today announced its financial results for fourth-quarter and full-year 2008.
(Logo:http://www.newscom.com/cgi-bin/prnh/20040705/CNM002LOGO ) Highlights -- Total Company(1) Full-Year 2008 Net Revenues of $261.8 Million (Including $8.3 Million of Net Revenues from Discontinued Operations) and Adjusted EBITDA of $72.2 Million Achieve Company's Financial Guidance -- 74% Year-Over-Year Net Revenue Growth from Continuing Operations in Fourth Quarter of 2008, 33% Organic Net Revenue Growth for China-Based Businesses -- 87% Year-Over-Year Net Revenue Growth from Continuing Operations for Full-Year 2008, 45% Organic Net Revenue Growth for China-Based Businesses -- Fourth-Quarter and Full-Year 2008 Net Losses Reflect Non-Cash Impairment Charges Relating to Continuing and Discontinued AppTec Operations -- Construction Completed at Suzhou Toxicology Laboratory and Expanded Jinshan Manufacturing Plant -- Company Targets 2009 Net Revenues of $265-$275 Million, Including 15-20% Net Revenue Growth in China-Based Laboratory Services -- Key 2009 Investments in Laboratory Services, Toxicology, and Manufacturing Services Expected to Drive Revenue Growth in 2010 and Beyond
"2008 was a year of extraordinary economic challenges, both in the
worldwide economy and the healthcare industry," said Dr. Ge Li, Chairman and
Chief Executive Of
|SOURCE WuXi PharmaTech (Cayman) Inc.|
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