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WuXi PharmaTech Announces Second-Quarter 2012 Results
Date:8/13/2012

SHANGHAI, Aug. 13, 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 second quarter of 2012.

Highlights

  • Net Revenues Increased 28.9% Year Over Year to $130.4 Million
  • Laboratory Services Net Revenues Grew 24.7% Year Over Year to $93.6 Million
  • China-Based Laboratory Services Net Revenues Increased 27.2% Year Over Year to $70.3 Million
  • U.S.-Based Laboratory Services Net Revenues Increased 17.7% Year Over Year to $23.3 Million
  • Manufacturing Services Net Revenues Grew 41.2% Year Over Year to $36.8 Million
  • Net Revenues from China Operations Exceeded $100 Million for the First Time on a Quarterly Basis
  • Share Repurchases Totaled $10.2 Million
  • GAAP Diluted Earnings Per ADS Grew 13.4% Year Over Year to $0.28
  • Non-GAAP Diluted Earnings Per ADS Increased 12.3% Year Over Year to $0.33
  • Company Increases Full-Year 2012 Revenue Guidance to $488-$498 Million
  • Management Comment"WuXi's strong operational performance continued in the second quarter," said Dr. Ge Li, Chairman and Chief Executive Officer. "Year-over-year revenue growth accelerated to 28.9%, driven by solid demand for our broad, integrated platform of services. This revenue growth was broad-based, with each of our businesses achieving double-digit growth. I'm especially proud that this was the first quarter in which our China-based operations generated more than $100 million in net revenues. I'm also pleased that WuXi's GAAP diluted earnings per ADS increased 13.4% year over year. With these results, we met or exceeded all of our guidance for revenues and margins for the second quart
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    SOURCE WuXi PharmaTech (Cayman) Inc.
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