WuXi Pharmatech Reports Another Healthy Quarter

WuXi PharmaTech (WX), a Chinese contract research organization [CRO] put out another good quarter,
but this stock never seems to trade in a logical manner;<!----> perhaps the
gross margins or lack of "increased" guidance is caused the stock to
fall 3% yesterday. It just might be too small or unknown to be attracting
enough attention or to trade "normally".

• Net revenues increased 68.7%
  to $57.1 million in the first quarter 2008 from $33.8 million in the
  first quarter 2007. This increase was primarily driven by the strong
  organic growth and the addition of US-based services following the
  close of the AppTec Laboratory Services, Inc. acquisition on January
  31, 2008. During the two-month post-acquisition period, our US-based services contributed $11.0 million for the first quarter 2008. (keep in mind some of that growth is not organic, i.e. due to acquisition)
• Net reven