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WuXi PharmaTech Announces Third-Quarter 2011 Results
Date:11/10/2011

SHANGHAI, Nov. 10, 2011 /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 third quarter of 2011.

Highlights

  • Third-Quarter 2011 Net Revenues Increased 24.0% Year Over Year to $104.0 Million
  • Manufacturing Services Net Revenues Grew 183.8% Year Over Year to $20.1 Million
  • Laboratory Services Net Revenues Grew 9.2% Year Over Year to $83.9 Million
  • China-Based Laboratory Services Net Revenues Increased 10.7% Year Over Year to $63.2 Million
  • GAAP Operating Income Increased 15.8% Year Over Year to $22.2 Million
  • Non-GAAP Operating Income Increased 10.1% Year Over Year to $24.9 Million
  • GAAP Diluted Earnings Per ADS Declined 53.8% Year Over Year to 27 Cents Due to Inclusion in the Prior-Year Results of a Termination Fee Relating to the Proposed Transaction with Charles River Laboratories and an Increase in the Effective Tax Rate
  • Non-GAAP Diluted Earnings Per ADS Increased 2.6% Year Over Year to 31 Cents Due to an Increase in the Effective Tax Rate
  • WuXi Refines Its Full-Year 2011 Guidance
  • Board Member Jeff Leng Elected to Audit Committee

  • Management Comment"WuXi achieved another solid quarter, driven by particularly strong revenue performances in Manufacturing Services, integrated medicinal chemistry, DMPK/ADME, toxicology, formulation, and analytical and bioanalytical services," said Dr. Ge Li, Chairman and Chief Executive Officer. "We exceeded our revenue guidance and met our operating-margin guidance for the quarter. We are on track to achieve full-year 2011 revenues of $402 to $406 million, GAAP operating margin of about 21%, and non-GAAP o
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    SOURCE WuXi PharmaTech (Cayman) Inc.
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