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WuXi PharmaTech Beats Q2 Estimates

publication date: Aug 12, 2009

WuXi PharmaTech (药明康德), the Shanghai CRO, announced Q2 revenues slipped slightly by 3% to $67 million, largely because of a large 69% decline in its notoriously lumpy manufacturing division. Revenues from its core China Laboratory Services unit were up 26%. Net income was $14.7 million or 20 cents per ADS, a 67% increase from Q2 of last year. The numbers were higher than the average analyst estimate, and WuXi's stock price jumped 20% as a result. More details...

Stock Symbol: (NYSE: WX)



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