WuXi PharmaTech Q3 Profit Rises; Updates 2014 Guidance - Quick Facts

(RTTNews) - WuXi PharmaTech (Cayman) Inc. (WX) reported third-quarter net income of $32.0 million or $0.45 per ADS, compared to $30.38 million or $0.42 per ADS, prior year. Adjusted earnings per ADS was $0.54, for the quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per ADS of $0.48 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $173.56 million from $146.72 million last year. Analysts expected revenue of $172.64 million for the quarter.

WuXi PharmaTech updated its full-year 2014 financial guidance. The comapny now expects total net revenues of $670-$672 million including XenoBiotic revenue, or $666-$668 million excluding XenoBiotic revenue, compared to previous guidance of $665-$670 million. GAAP earnings per ADS is now expected to be in the range of $1.55-$1.58, compared to previous guidance of $1.55-$1.59. Non-GAAP earnings per ADS is expected to be in the range of $1.83-$1.86, compared to previous guidance of $1.82-$1.86. Analysts expect the company to report full year earnings per ADS of $1.84 on revenue of $671.47 million.

WuXi PharmaTech expects fourth-quarter total net revenues of $186-$188 million, GAAP earnings per ADS of $0.45-$0.48, and non-GAAP earnings per ADS of $0.50-$0.53. Analysts expect the company to report fourth-quarter earnings per ADS of $0.57 on revenue of $187.00 million.