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Sinovac Reports Unaudited First Quarter 2011 Financial Results
Date:5/13/2011

 loss(3,430,838)(813,499)Interest and financing expenses (69,697)(124,375)Interest income145,374131,483Other income8,61111,309Loss on disposal and write down of equipment(7,704)(687,095)Loss before income taxes and non-controlling interests(3,354,254)(1,482,177)Income tax
recovery (expense)(310,422)269,479Consolidated net loss(3,664,676)(1,212,698)Loss attributable to non-controlling interests869,720905,388Net loss attributable to stockholders$

(2,794,956)

$

(307,310)Net loss$

(3,664,676)

$

(1,212,698)Other comprehensive incomeForeign currency translation adjustment839,5678,723Total comprehensive loss(2,825,109)(1,203,975)Comprehensive loss attributable to non-controlling interests 728,475903,911Comprehensive loss attributable to stockholders$

(2,096,634)

$

(300,064)Loss per share– basic and diluted

$

0.05

$

0.01Weighted average number of shares of common stock outstanding8211; Basic and Diluted54,444,07749,873,422SINOVAC BIOTECH LTD.Incorporated in Antigua and BarbudaConsolidated Statements of Cash FlowsThree months ended March 31, 2011 and 2010(Unaudited)(Expressed in U.S. Dollars)Three months endedMarch 3120112010Cash flows from (used in) operating activities  Net loss

$

(3,664,676)

$

(1,212,698)  Adjustments to reconcile net income to net cash  provided by operating activities: - deferred income taxes310,422692,520 - stock-based compensation32,662103,664- inventory provision-16,206 - write-down of equipment and loss on disposal7,704687,09
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SOURCE Sinovac Biotech Ltd.
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