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

$-1,212,698 $131,559 Net income (loss) Other comprehensive income Foreign currency translation adjustment 8,723 64,899 Total comprehensive income (loss) -1,203,975 196,458 Comprehensive loss (income) attributable to non-controlling interests 903,911 -123,043 Comprehensive income (loss) attributable to stockholders $-300,064 $73,415 Earnings (loss) per share - basic and diluted $-0.01 $0 Weighted average number of shares of common stock outstanding - Basic and Diluted 49,873,422 42,890,695 SINOVAC BIOTECH LTD. Incorporated in Antigua and Barbuda Consolidated Statements of Cash Flows Three Months Ended March 31, 2010 and 2009 (Unaudited) (Expressed in U.S. Dollars) Three months ended March 31 2010 2009 Cash flows used in operating activities Net income (loss) for the period $(1,212,698) $131,559 Adjustments to reconcile net income to net cash used in operating activities: - deferred income taxes 692,520 157,394 - stock-based compensation 103,664 66,503 - inventory provision 16,206 -- - provision for doubtful accounts -- 868,938 - write-off equipment and loss on disposal 687,095 (9,783) - research and development expenditures qualified for government grant (
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SOURCE Sinovac Biotech Ltd.
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