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WuXi PharmaTech Announces Third-Quarter 2013 Results
Date:11/12/2013

SHANGHAI, Nov. 12, 2013 /PRNewswire/ -- 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 unaudited financial results for the third quarter of 2013. 

Highlights

  • Net Revenues Increased 16.6% Year Over Year to $146.7 Million
  • Laboratory Services Net Revenues Grew 9.2% Year Over Year to $108.1 Million
  • China-Based Laboratory Services Net Revenues Increased 10.3% Year Over Year to $85.0 Million
  • U.S.-Based Laboratory Services Net Revenues Increased 5.4% Year Over Year to $23.1 Million
  • Manufacturing Services Net Revenues Increased 43.6% Year Over Year to $38.6 Million
  • GAAP Diluted Earnings Per ADS Grew 40.7% Year Over Year to $0.42
  • Non-GAAP Diluted Earnings Per ADS Increased 29.3% Year Over Year to $0.47
  • Full-Year 2013 Revenue Guidance Revised to $574-$578 Million, Full-Year 2013 Diluted EPS Guidance Increased to $1.51-$1.55 GAAP, $1.73-$1.77 Non-GAAP
  • Management Comment"WuXi achieved solid, broad-based revenue growth and stable margins in the third quarter," said Dr. Ge Li, Chairman and Chief Executive Officer.  "As a result, we again exceeded our financial guidance for the quarter. We expect this strong growth to continue throughout the remainder of 2013 and are increasing our full-year 2013 EPS guidance.

    "While achieving current growth, we are also making the investments necessary to sustain growth," Dr. Li continued. "In small-molecule manufacturing, we are planning to construct new research manufacturing and commercial manufacturing facilities that will substantially increase our capacity.  In August 2013, we successfully completed a general GMP and Pre-Approval Inspection from
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    SOURCE WuXi PharmaTech
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