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Financial Report: West 4Q

Revenue growth in the quarter was driven by strong Pharmaceutical Systems sales, including sales for H1N1 flu vaccinations, while Tech Group sales were flat at $66.3 million.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

West 4Q

4Q Revenues: $293.4 million (+20%)

4Q Earnings: $21.7 million (-15%)

FY Revenues: $1.1 billion (flat)

FY Revenues:$72.6 million (-15%)

Comments: Revenue growth in the quarter was driven by strong Pharmaceutical Systems sales, including sales for H1N1 flu vaccinations, while Tech Group sales were flat at $66.3 million. Pharmaceutical Systems sales were $229.5 million (+26%) and pharmaceutical components for H1N1 flu vaccination products accounted for $12.3 million of that. The third-quarter acquisition of the drug delivery assets of Plastef Investissements contributed $6.2 million in sales for the quarter. Results in the quarter include $16.3 million, or 6.7%, of favorable foreign exchange.

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