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February 21, 2006
By: Tim Wright
West Pharmaceutical Services, Inc. 4Q Revenue: $195.6 million (+38%) 4Q Earnings: $12.9 million (+77%) FY Revenues: $699.7 million (+29%) FY Earnings: $45.2 million (+35%) Comments: Pharmaceutical systems business sales grew 9.5% to $136.4 million in the quarter and gross profit in the segment was $44 million, or 32% of sales. Monarch Laboratories, acquired in February 2005, and Medimop Medical Projects, acquired in August 2005, are included in the Pharmaceutical Systems segment. Improvement in the segment’s gross margin was a result of production efficiencies, higher margin products and services in the Monarch Labs and Medimop Medical Projects businesses, and lower workers compensation costs.
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