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29.4%Gross profit:Laboratory Services32,162
27,596
16.5%Manufacturing Services9,729
7,098
37.1%Total gross profit41,891
34,694
20.7%Operating expenses:Selling and marketing expenses(3,279)
(1,958)
67.5%General and administrative expenses(16,162)
(12,172)
32.8%Research and development expenses(1,813)
(724)
150.4%Total operating expenses(21,254)
(14,854)
43.1%Operating income20,637
19,840
4.0%Other income (expenses), net:Other income (expenses), net2,740
1,627
68.4%Interest income (expenses), net1,699
831
104.5%Total other income (expenses), net4,439
2,458
80.6%Income before income taxes25,076
22,298
12.5%Income tax expense(4,088)
(4,074)
0.3%Net income20,988
18,224
15.2%Basic net earnings per ADS0.29
0.26
12.7%Diluted net earnings per ADS0.28
0.24
15.8%Weighted average ADS outstanding—basic71,978,914
70,419,377
2.2%Weighted average ADS outstanding—diluted74,543,632
74,944,373
(0.5%)Other comprehensive income:Currency translation adjustments454
3,457
(86.9%)Comprehensive income21,442
21,681
(1.1%) WUXI PHARMATECH (CAYMAN) INC.RECONCILIATION OF GAAP TO NON-GAAP(in thousands of U.S. dollars, except ADS data and per ADS data)Three Months Ended
March 31,20122011% changeGAAP gross profit41,891
34,694
20.7%GAAP gross margin35.5%
37.1%Adjustments:Share-based compensation1,066
975
9.3%Amortization of acquired intangible assets525
355
47.9%Non-GAAP gross profit43,482
36,024
20.7%Non-GAAP gross margin36.8%
38.5%GAAP operating income20,637
19,840
4.0%GAAP operating margin17.5%
21.2
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| SOURCE WuXi PharmaTech (Cayman) Inc. Copyright©2010 PR Newswire. All rights reserved |