WuXi PharmaTech Announces Fourth-Quarter and Full-Year 20...(tal shareholders' equity ...)
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WuXi PharmaTech Announces Fourth-Quarter and Full-Year 2008 Results
Date:3/25/2009
tal shareholders' equity 230,876 251,398 Total liabilities and shareholders' equity 336,399 343,775 Note 1: The biologics manufacturing operations in Philadelphia, which management decided to close in December 2008, are classified as discontinued operations. See table below titled Discontinued Operations of Biologics Manufacturing. WUXI PHARMATECH (CAYMAN) INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands of U.S. dollars, except ADS data and per ADS data) Three Months Ended Year Ended December 31, December 31, 2008 2007 % 2008 2007 % (Note 4) Net revenues: Laboratory Services (Note 2) 57,423 28,845 99% 205,028 102,384 100% Manufacturing Services 7,025 8,250 (15%) 48,457 32,821 48% Total net revenues 64,448 37,095 74% 253,485 135,205 87% Cost of revenues: Laboratory Services (Note 2) (38,591) (15,918) 142% (124,723) (52,416) 138% Manufacturing Services (5,583) (5,265) 6% (32,420) (19,931) 63% Total cost of revenues (44,174) (21,183) 109% (157,143) (72,347) 117% Gross profit: Laboratory Services (Note 2) 18,832 12,927 46% 80,305 49,968 61% Manufacturing Services 1,442 2,985 (52%) 16,037 12,890 24% Total gross profit 20,274 15,912 27% 96,342 62,858 53% Operating expenses: Selling and marketing expenses (2
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