West Announces Third Quarter 20...(14.6% During the fourth quarter of 2...),Health

Date:11/3/2009

14.6% Consolidated Gross Profit Margin 29.2% Full Year Adjusted Diluted EPS(1)(2)(3) $2.08 to $2.13 (2) (3) See corresponding notes under "Supplemental Information and Notes to Non-GAAP Financial Measures" in the tables following the text of this release. The principal currency assumption in these estimates is for the translation of the Euro at $1.48 to euro 1.00 for the remainder of 2009. The Company's earlier guidance reflected the Euro at $1.40 for the remainder of 2009.

During the fourth quarter of 2009, the Company expects to recognize charges described under "Restructuring and Other Items" of approximately $7.0 million pre-tax, or $0.12 per diluted share. These charges are excluded from the guidance for 2009 Adjusted Diluted EPS.

The revised guidance reflects, among other factors, the following expectations: no unusual slowness of customer orders for delivery in the current quarter; demand associated with government-sponsored vaccinations against the H1N1(A) virus strain will sustain through the quarter; anticipated pricing changes under existing contracts will be realized and lower raw material costs will continue. The Company continues to expect that 2009 capital spending will be between $110 million and $120 million.

The Company expects consolidated 2010 sales revenue to grow 3% to 5% from the expected 2009 revenue at constant exchange rates. The expectation is based upon a recovery in volume demand associated with expected improvements in overall economic conditions globally, but does not include significant overall changes in pricing. The Company will provide further 2010 guidance when it announces results for the fourth quarter and full year 2009, in February 2010.

Third-Quarter Conference Call

The Company will host a conference call to discuss
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SOURCE West Pharmaceutical Services, Inc. Copyright©2009 PR Newswire. All rights reserved

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