WuXi PharmaTech Announces Fourth-Quarter and Full-Year 2009 Results
Shanghai, China, March 9, 2010 - 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 fourth-quarter and full-year 2009.
Fourth-Quarter 2009 Highlights
- Net revenues grew 15% year over year to $73.9 million
- Laboratory Services net revenues increased 18% year over year to $67.5 million
- China-based Laboratory Services net revenues grew 21% year over year to $51.4 million
- U.S.-based Laboratory Services net revenues increased 7% year over year to $16.2 million
- Manufacturing Services net revenues decreased 10% year over year to $6.3 million
- GAAP diluted earnings per ADS was 16 cents, versus a loss in the prior-year period
- Non-GAAP diluted earnings per ADS grew 56% year over year to 22 cents
Full-Year 2009 Highlights
- Net revenues grew 7% year over year to $270.0 million
- Laboratory Services net revenues increased 22% year over year to $249.9 million
- China-based Laboratory Services net revenues grew 26% year over year to $185.8 million
- U.S.-based Laboratory Services net revenues increased 2% year over year on a pro-forma basis to $64.1 million
- Manufacturing Services net revenues decreased 58% year over year to $20.1 million
- GAAP diluted earnings per ADS was 72 cents, versus a loss in the prior-year period
- Non-GAAP diluted earnings per ADS grew 11% year over year to 89 cents
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