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WuXi PharmaTech Announces Fourth-Quarter and Full-Year 2009 Results
Date:3/8/2010

income increased 3% year over year to $65.4 million, primarily due to the 3% increase in non-GAAP gross profit and a 4% increase in operating expenses.

Full-year 2009 non-GAAP net income grew 12% year over year to $65.5 million due to a 3% increase in non-GAAP operating income, a favorable change in other income (expenses) net, and lower taxes. Taxes were lower due to tax planning initiatives in 2009. Changes in other income (expenses) net are discussed above for GAAP results. Diluted non-GAAP earnings per ADS from continuing operations grew 11% year over year to 89 cents compared to 80 cents in full-year 2008, mainly due to the 12% increase in non-GAAP net income.

(See the table titled Reconciliation of GAAP to Non-GAAP below).

Performance Versus 2009 Financial Guidance

The company's full-year 2009 performance versus its financial guidance was as follows:

    -- Total net revenues of $270.0 million fell within the expected range of
       $265-$275 million
    -- Growth in 2009 
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SOURCE WuXi PharmaTech (Cayman) Inc.
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