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WuXi PharmaTech Announces Third-Quarter 2010 Results
Date:11/9/2010

SHANGHAI, Nov. 9, 2010 / 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 third-quarter 2010.

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Third-Quarter 2010 Highlights

  • Net revenues grew 20% year over year to $83.8 million
  • China-based Laboratory Services net revenues grew 19% year over year to $57.1  million
  • U.S.-based Laboratory Services net revenues increased 20% year over year to $19.6 million
  • Manufacturing Services net revenues increased 23% year over year to $7.1 million
  • GAAP operating income grew 31% and non-GAAP operating income grew 26% year over year
  • GAAP diluted earnings per ADS grew 205% year over year to 59 cents, driven by a strong operating performance and a termination fee relating to the proposed transaction with Charles River Laboratories
  • Non-GAAP diluted earnings per ADS grew 26% year over year to 30 cents
  • Company increases full-year 2010 guidance for net revenue to $330-$333 million from previous guidance of $320-$325 million
  • Company increases full-year 2010 guidance for non-GAAP operating income growth to 28-32% from previous guidance of 15-20%

  • Management Comment"WuXi continued a strong 2010 with an excellent third quarter," said Dr. Ge Li, Chairman and Chief Executive Officer.  "Total company revenues grew 20% year over year, and each of our businesses delivered strong revenue growth in the quarter.
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    SOURCE WuXi PharmaTech (Cayman) Inc
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