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Sinovac Reports Third Quarter 2008 Unaudited Financial Results

"expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward- looking statement. Sinovac does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    Consolidated Balance Sheets
    (Expressed in U.S. Dollars)
                                              September 30,      December 31,
                                                      2008              2007

    Current assets
      Cash and cash equivalents                $20,552,500       $17,071,497
      Accounts receivable - net                 24,961,357        16,983,892
      Inventories                                8,014,050         3,745,957
      Prepaid expenses and deposits                750,191           800,840
      Deferred tax assets                        1,293,131           579,703

    Total current assets                        55,571,229        39,181,889

    Restricted cash                                  1,643               846

    Property, plant and equipment               19,479,227        15,879,391
    Long-term prepaid expenses and deposits        225,255           298,731

    Deferred tax asset                             971,085           693,053

    Licenses and permits                         1,189,599         1,394,052

    Total assets                               $77,438,038       $57,447,962

SOURCE Sinovac Biotech Ltd.
Copyright©2008 PR Newswire.
All rights reserved

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