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

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 Cash flows from (used in) operating activities Net income (loss) $2,374,140 $1,993,275 $8,010,224 $7,650,406 Adjustments to reconcile net loss to net cash provided (used) by operating activities: - deferred income taxes 504,450 (287,751) (487,011) (229,055) - stock-based compensation 16,635 20,595 66,542 179,742 - inventory provision 1,027,675 373,473 1,027,675 373,473 - provision for doubtful accounts (1,944,595) (1,326,175) 23,612 455,674 - written-off equipment and loss on disposal 123,987 (938) 126,236 4,016 - amortization of government grants (162,345) (478,164) (310,022) (843,910) - depreciation of property, plant and equipment and amortization of licenses and permits 390,704 352,617 1,689,018 1,401,892 - minority interest 1,390,704 964,588 4,205,407 3,562,501 Change in other assets and liabilities - accounts receivable 7,284,649 4,370,035 (1,366,183) (6,774,082) - inventories (471,226) 855,096 (4,405,982) (1,832,193) - income tax refundable (342,617) -- (342,617) -- - prepaid expenses and deposits 40,618 (184,588) 229,407
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SOURCE Sinovac Biotech Ltd.
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1. Sinovac Reports Unaudited Full Year 2008 and Fourth Quarter Financial Results
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