subsidies and the related costs were reclassified to other operating income/expense since the third quarter of 2011 as a result of an accounting policy change to better reflect the nature of such transactions.
The change is accounting policy was not retroactively applied due to immateriality.SHANGPHARMA CORPORATIONRECONCILIATION OF
UNAUDITED GAAP TO NON-GAAP FINANCIAL DATA(in thousands of U.S. dollars, except for ADS(2) data and per ADS data)Three months endedMarch 31,2011
2012
%GAAP gross profit8,000
9,295
16.2%GAAP gross margin32.3%
30.2%Adjustments:Share-based compensation
598
274
-54.2%Non-GAAP gross profit8,598
9,569
11.3%Non-GAAP gross margin34.7%
31.1%GAAP operating expenses(5,522)
(7,681)
39.1%Adjustments:Share-based compensation
771
1,090
41.4%Non-GAAP operating expenses(4,751)
(6,591)
38.7%GAAP profit from operations2,478
1,614
-34.9%GAAP operating margin10.0%
5.2%Adjustments:Share-based compensation
1,369
1,364
-0.4%Non-GAAP profit from operations3,847
2,978
-22.6%Non-GAAP operating margin15.5%
9.7%GAAP net income3,012
1,733
-42.5%GAAP net margin12.2%
5.6%Adjustments:Share-based compensation
1,369
1,364
-0.4%Non-GAAP net income4,381
3,097
-29.3%Non-GAAP net margin 17.7%
10.1%GAAP net income per ADS, diluted :0.16
0.09
-43.8%Adjustments:Share-based compensation
0.07
0.08Non-GAAP net income per ADS, diluted:0.23
0.17
-26.1%Weighted average ADS outstanding - basic (Non-GAAP)18,644,444
18,525,549Weighted average ADS outstanding - diluted (Non-GAAP)18,947,692
18,532,976(2) Assumes all outstanding ordinary shares are represented by ADSs. Each A
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Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Related medicine technology :1.
ShangPharma to Report First Quarter 2012 Financial Results on May 17, 20122.
ShangPharma Corporation Files 2011 Annual Report on Form 20-F3.
ShangPharma to Report Fourth Quarter and Full Year 2011 Financial Results on March 13, 20124.
ShangPharma to Present at Cowens 32nd Annual Health Care Conference5.
ShangPharma Announces Milestone Achievement in Research Partnership with Hengrui6.
ShangPharma Announces Opening of New Facility to Support Lillys Pipeline7.
ShangPharma to Attend Two Upcoming Investor Conferences8.
ShangPharma Announces Third Quarter 2011 Results9.
ShangPharma Purchases Shanghai In-vivo Drug Research Facility from Charles River10.
ShangPharma Corporation Announces Shareholder Resolutions Adopted at 2011 Annual General Meeting11.
ShangPharma Corporation Announces Resignation of a Director