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Sinovac Reports Unaudited First Quarter 2010 Financial Results
Date:5/13/2010

and 2009 (Unaudited) (Expressed in U.S. Dollars) Three months ended March 31 2010 2009 Sales $4,443,899 $6,566,099 Cost of sales - (exclusive of depreciation of land-use rights and amortization of licenses and permits of $104,793 (2009-$104,633 ) 883,475 1,447,770 Gross profit 3,560,424 5,118,329 Selling, general and administrative expenses 3,092,248 3,547,623 Research and development expenses - net of $17,554 (2009 - $58,311) in government research grants 907,959 759,441 Depreciation of property, plant and equipment and amortization of licenses and permits 425,427 164,869 Total operating expenses 4,425,634 4,471,933 Operating income (loss) -865,210 646,396 Interest and financing expenses -124,375 -126,200 Interest income and other income (expenses) -492,592 93,131 Income (loss) before income taxes and non-controlling interests -1,482,177 613,327 Income tax recovery (expenses) 269,479 -481,768 Consolidated net income (loss) for the period -1,212,698 131,559 Loss (income) attributable to non - controlling interests 905,388 -106,880 Net income (loss) attributable to stockholders $-307,310 $24,679
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SOURCE Sinovac Biotech Ltd.
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