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

) - Current (1,005,174) (817,000) - Deferred 94,028 59,375 Income before minority interest 1,269,963 3,209,529 Minority interest share of earnings 530,084 1,019,377 Net income 739,879 2,190,152 Other comprehensive income Foreign currency translation adjustment 40,797 333,325 Comprehensive income $780,676 $2,523,477 Earnings per share - basic $0.02 $0.05 - diluted $0.02 $0.05 Weighted average number of shares of common stock outstanding - Basic 42,873,511 40,268,030 - Diluted 43,142,788 40,624,439 Nine months ended September 30 2008 2007 Sales $34,137,101 $24,339,241 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) 5,320,667 3,587,193 Gross profit 28,816,434 20,752,048 Selling, general and administrative expenses 13,408,452 9,485,980 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 2,408,745
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SOURCE Sinovac Biotech Ltd.
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