SHANGHAI, China, Aug. 13 /Xinhua-PRNewswire/ -- WuXi PharmaTech
(Cayman) Inc. (NYSE: WX), a leading pharmaceutical, biotechnology and
medical device research and development outsourcing company with operations
in China and the United States, today announced its selected unaudited
financial results for the second quarter ended June 30, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040705/CNM002LOGO )
Highlights for Second Quarter 2008:
-- Total net revenues increased 134% to $70.8 million in the second
quarter 2008 from $30.2 million in the second quarter 2007.
-- Non-GAAP operating income increased 90% to $17.0 million in the second
quarter 2008 from $8.9 million in the second quarter 2007; second
quarter 2008 GAAP operating income was $7.7 million.
-- Non-GAAP net income increased 81% to $15.5 million in the second
quarter 2008 from $8.6 million in the second quarter 2007; second
quarter 2008 GAAP net income was $8.5 million.
-- Second quarter 2008 non-GAAP diluted earnings per ADS were $0.21,
compared to $0.13 in the second quarter 2007; second quarter 2008 GAAP
diluted earnings per ADS were $0.12.
Numbers presented on a non-GAAP basis exclude share-based compensation expenses, amortization of acquired intangible assets and deferred tax impact on acquired intangible assets. The non-GAAP measures are described below and reconciled to the corresponding GAAP measure in the section below titled "Use of Non-GAAP Financial Measures."
Commenting on the second quarter 2008 results, Dr. Ge Li, Chairman and
Chief Executive Officer of WuXi Pharm
|SOURCE WuXi PharmaTech (Cayman) Inc.|
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