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Sinovac Reports Unaudited Third Quarter 2013 Financial Results
Date:11/12/2013

nded30-Sep30-Sep2013201220132012Sales$

22,075,472

$

14,287,100

$

49,579,129

$

29,625,199Cost of sales -6,164,587-6,770,712-13,017,307-10,401,918Gross profit15,910,8857,516,38836,561,82219,223,281Selling, general and administrative expenses-9,942,183-7,844,861-24,570,852-18,865,676Provision for doubtful accounts-171,729-97,067-1,057,520-97,067Research and development expenses -2,033,989-3,773,625-5,923,235-15,792,500Depreciation of property, plant and equipment  and amortization of  licenses and renovation costs-758,971-434,596-2,072,837-1,056,993Gain on disposal and impairment of property, plant and equipment 8-2,327-Government grants recognized in income-78,053-556,028Total operating expenses-12,906,864-12,072,096-33,622,117-35,256,208Operating income/(loss)3,004,021-4,555,7082,939,705-16,032,927Interest income544,062464,5121,567,9821,561,039Interest and financing expenses-734,900302,846-2,168,306-143,552Other income/(expenses)134,126-47,283141,22185,430Income/(loss)  before income taxes and non-controlling interests2,947,309-3,835,6332,480,602-14,530,010Income tax recovery/(expense) -76,672-5,958-61,889794,406Consolidated net income/(loss)2,870,637-3,841,5912,418,713-13,735,604Less: income/(loss) attributable to non-controlling interests561,189-839,758798,204-3,490,578$

2,309,448

$

-3,001,833

$

1,620,509

$

-10,245,026Net income/(loss) attributable to stockholdersNet income/(loss)$

2,870,637

$

-3,841,591

$

2,418,713

$

-13,735,604Other comprehensive income/(loss)Foreign currency translation adjustment249,027878,1831,601,7281,055,232Total comprehensive income/(loss)3,119,664-2,963,4084,020,441-12,680,372Less: comprehensive income/(loss) attributable to non-controlling interests588,052-738,068965,656-3,351,143Comprehensive income/(loss) attributabl
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SOURCE Sinovac Biotech Ltd.
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