WuXi PharmaTech (Cayman) Inc. (NYSE:WX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
WuXi PharmaTech (Cayman) Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.06% to $0.35 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 11.75% to $131.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: WuXi PharmaTech (Cayman) Inc. reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.31. It beat the average revenue estimate of $130.02 million.
Quoting Management: “I am pleased to announce that WuXi began 2013 with a solid first quarter,” said Dr. Ge Li, Chairman and Chief Executive Officer. “We achieved 11.7% year-over-year revenue growth, 7.2% GAAP diluted EPS growth, and 7.5% non-GAAP diluted EPS growth in the quarter, exceeding our previous guidance in all three measures. This result gives us confidence to reconfirm our guidance for full-year 2013.”
Key Stats (on next page)…
Revenue increased 4.97% from $125.66 million in the previous quarter. EPS decreased 7.89% from $0.38 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.34 to a profit $0.36. For the current year, the average estimate has moved up from a profit of $1.44 to a profit of $1.47 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)