WuXi PharmaTech Q2 Profit Rises, Lifts FY13 Forecast - Quick Facts

(RTTNews) - WuXi PharmaTech Inc. (WX) Monday reported second-quarter profit of $29.62 million, up from $20.49 million in the same period last year. On a per-ADS basis, earnings increased to $0.41 from $0.28 last year. Comprehensive income for the quarter totaled $37.35 million, up from $18.44 million last year.

Adjusted earnings for the quarter was $33.71 million or $0.46 per share. On average, six analysts polled by Thomson Reuters expected the company to earn $0.39 per share for the quarter. Analysts' estimates typically exclude special items. Revenues increased 9 percent to $142.33 million from $130.38 million last year. Analysts expected revenues of $147.29 million. Looking ahead to the third quarter, the company has forecast earnings in the range of $0.32 to $0.34 per share, with adjusted earnings in the order of $0.38 to $0.40 per share.

Revenues are expected to range between $143 million and $145 million. Analysts currently expect he company to earn $0.38 per share on third-quarter revenues of $147.29 million.

For the fiscal 2013, the company has raised its earnings outlook to a range of $1.38 to $1.44 per ADS from its previous guidance of $1.26 to $1.30 per ADS. Adjusted earnings are expected to range between $1.61 and $1.67 per ADS, up from $1.49 and $1.53 per ADS, announced previously.

Revenues are currently projected in a range of $572 million to 578 million, up from its previous guidance of $565 million to 575 million. Analysts currently expect the company to report full-year earnings of $1.53 per share on revenues of $573.63 million.