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Sinovac Reports Unaudited Full Year 2008 and Fourth Quarter Financial Results with Financial Tables
Date:4/9/2009

Issued and outstanding: 42,893,928 (2007 - 40,305,028) Subscriptions received -- 9,170 Additional paid in capital 41,629,506 32,109,997 Accumulated other comprehensive income 3,773,224 1,956,456 Dedicated reserves 5,549,684 2,999,396 Accumulated deficit (1,281,534) (7,111,469) Total stockholders' equity 49,713,775 30,003,855 Total liabilities and stockholders' Equity $ 83,203,222 $ 57,447,962 The accompanying notes are an integral part of these consolidated financial statements. SINOVAC BIOTECH LTD. Consolidated Statements of Income and Comprehensive Income Three Months and Twelve months Ended December 31, 2008 and 2007 (Unaudited) (Expressed in U.S. Dollars) Three months ended Twelve months ended December 31, December 31, 2008 2007 2008 2007 Sales $12,359,803 $9,201,946 $46,496,904 $33,541,187 Cost of sales - (exclusive of depreciation of land-use rights and amortization of licenses and permits of $104,000 [2007 - $96,296] for three months and $411,065 [2007- 376,184] for twelve months) 4,615,674 2,915,135 9,936,341 6,502,328 Gross profit 7,744,129 6,286,811 36,560,563 27,038,859 Selling, general and administrative expenses 4,054,222 2,472,518 17,462,674 11,958,498 Research and development expenses - net of $162,064(2007- $401,935) for three months and $310,222 (2007- $843,910) for twelve months in government research grants
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SOURCE Sinovac Biotech Ltd.
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