WuXi PharmaTech Q2 Results Miss Estimates

(RTTNews) - WuXi PharmaTech (Cayman) Inc. (WX) reported net income for the second quarter of $18.8 million or $0.26 per ADS, compared to $29.3 million or $0.41 per ADS for the year-ago quarter.

Excluding items, adjusted earnings for the second quarter were $28.4 million or $0.38 per ADS, compared to $35.2 million or $0.49 per ADS in the prior year quarter.

Second quarter net revenues rose 18.8% to $194.14 million from $163.35 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.39 per ADS on revenue of $195.26 million for the second quarter. Analysts' estimates typically exclude special items.

The company reconfirmed full year 2015 revenue guidance of $790 million to $800 million, but withdrew its full year 2015 earnings guidance due to uncertainties regarding currency exchange-rate volatility and potential significant costs associated with several transactions under consideration. Analysts currently expect the company to post revenue of $794.41 million for the full year 2015.