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WuXi PharmaTech Announces First-Quarter 2010 Results
Date:5/11/2010

ange of $310-320 million, which represents 15-19% growth -- Growth in net revenues of China-based Laboratory Services of 13-16% -- Growth rate of net revenues of U.S.-based Laboratory Services of mid single digits -- Growth of net revenues of Manufacturing Services of at least 70% -- Decline in GAAP and non-GAAP gross margin of two to five percentage points -- Growth in GAAP and non-GAAP operating income in the upper end of the previous range of 0% to 10% -- Capital expenditures of $50-60 million, similar to the 2009 level -- Effective tax rate of 13-15%

The Company provides the following guidance for second-quarter 2010 performance:

    -- Total net revenues of $76-78 million
    -- Year-over-year growth in net revenues of China-based Laboratory
       Services of 16-18%
    -- GAAP and non-GAAP gross margins better than first-quarter 2010 GAAP and
       non-GAAP gross margins, which were 37.7% and 39.8%, respectively

"As we prepare to combine our operations with those of Charles River Laboratories, we remain focused on providing the highest level of service to our customers," Dr. Ge Li concluded. "The new Charles River Laboratories will be the first global contract research organization offering fully integrated early-stage drug discovery and development services. We continue to believe that trends toward greater outsourcing and offshoring of pharmaceutical, biotechnology, and medical device research and development will continue for years to come, and that our company is positioned well to benefit from these trends."



                          WUXI PHARMATECH (CAYMAN) INC.
                      UNAUDITED CONSOLIDATED BALANCE SHEETS
     (in thousands of U.S. dollars, except ordinary share, ADS and par value
                                      data)
                          
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SOURCE WuXi PharmaTech (Cayman) Inc.
Copyright©2010 PR Newswire.
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