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WuXi PharmaTech Announces First-Quarter 2009 Results
Date:5/14/2009

SHANGHAI, China, May 14 /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 first-quarter 2009.

    (Logo:http://www.newscom.com/cgi-bin/prnh/20040705/CNM002LOGO )

    Highlights
    -- First-Quarter 2009 Net Revenues Increase 5% Year Over Year to
       $59.1 Million
    -- Laboratory Services Net Revenues Grow 33% Year Over Year to
       $56.5 Million, Driven by Organic Growth and the AppTec Acquisition
    -- China-Based Laboratory Services Net Revenues Grow 28% Year Over Year
       to $41.6 Million
    -- GAAP Diluted Earnings Per ADS of 16 Cents
    -- Non-GAAP Diluted Earnings Per ADS of 20 Cents
    -- Company Reconfirms 2009 Financial Guidance, Including 15-20% Net
       Revenue Growth in China-Based Laboratory Services

Management Comment

"WuXi PharmaTech got off to a good start in 2009 with solid first-quarter results," said Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech. "We achieved 33% year-over-year growth in Laboratory Services revenues, reflecting 28% growth in China-based Laboratory Services and the contribution of the AppTec acquisition on a year-over-year basis. Revenues in our U.S.-based Laboratory Services and China-based Manufacturing Services businesses were in line with our expectations and reflected the challenging operating environment. We remain on target to achieve our 2009 financial guidance, including 15-20% revenue growth in China-based Laboratory Services.

"We are expanding our platform of integrated services to help o
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SOURCE WuXi PharmaTech (Cayman) Inc.
Copyright©2009 PR Newswire.
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