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WuXi PharmaTech Announces First-Quarter 2012 Results
Date:5/11/2012

SHANGHAI, May 10, 2012 /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 the first quarter of 2012.

Highlights

  • Net Revenues Increased 26.2% Year Over Year to $118.0 Million
  • Manufacturing Services Net Revenues Grew 35.0% Year Over Year to $31.4 Million
  • Laboratory Services Net Revenues Grew 23.2% Year Over Year to $86.6 Million
  • China-Based Laboratory Services Net Revenues Increased 25.8% Year Over Year to $64.5 Million
  • U.S.-Based Laboratory Services Net Revenues Increased 16.4% Year Over Year to $22.2 Million
  • GAAP Diluted Earnings Per ADS Grew 15.8% Year Over Year to $0.28
  • Non-GAAP Diluted Earnings Per ADS Increased 15.1% Year Over Year to $0.33
  • Company Reconfirms 2012 Financial Guidance
  • Management Comment"WuXi began 2012 with a strong first quarter, achieving 26.2% revenue growth," said Dr. Ge Li, Chairman and Chief Executive Officer. "This strong revenue growth was broad-based across all of our businesses. We met or exceeded all of our financial targets for revenues and margins for the quarter. And we continue to invest to build capabilities and to expand capacities in both laboratory services and manufacturing services. For example, our new Wuhan chemistry site began operations in February.

    "WuXi is building a comprehensive and integrated technology platform and service offerings that will enable anyone and any company to discover and develop new products efficiently and cost-effectively," Dr. Li concluded. "China is becoming an important hub for pharmaceutical R&D in part because of China's pharmaceutical market, already the th
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    SOURCE WuXi PharmaTech (Cayman) Inc.
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