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Sinovac Reports Third Quarter 2008 Unaudited Financial Results
Date:11/18/2008

rs' equity $77,438,038 $57,447,962 SINOVAC BIOTECH LTD. Consolidated Statements of Income and Comprehensive Income Three Months and Nine months Ended September 30, 2008 and 2007 (Unaudited) (Expressed in U.S. Dollars) Three months ended September 30 2008 2007 Sales $8,753,671 $10,828,020 Cost of sales - (exclusive of depreciation of land-use rights and amortization of licenses and permits of $104,490 (2007 - $93,095) for three months and $307,065 (2007- 279,988) for nine months) 1,658,862 1,655,589 Gross profit 7,094,809 9,172,431 Selling, general and administrative expenses 3,791,916 4,763,054 Research and development expenses - net of $17,110 (2007- $74,563) for three months and $147,958 (2007- $441,974) for nine months in government research grants 811,901 220,811 Depreciation of property, plant and equipment and amortization of licenses and permits 178,404 146,475 Total operating expense 4,782,221 5,130,340 Operating income 2,312,588 4,042,091 Interest and financing expenses (189,935) (115,588) Interest income and other income (expenses) 58,456 40,651 Income before income taxes and minority interest 2,181,109 3,967,154 Income taxes recovery (expense
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SOURCE Sinovac Biotech Ltd.
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