Sinovac Reports Fourth Quarter and Full Year 2007 Financial Results
Monday March 31, 1:00 am ET
Consolidated Statement of Operations and Comprehensive Income (Loss)
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Three Months and Twelve Months Ended December 31, 2007 and 2006
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(Expressed in U.S. Dollars)
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Three months ended December 31
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Twelve months ended December 31
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2007
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2006
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2007
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2006
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Sales
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9,201,946
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6,187,773
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33,541,187
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15,354,608
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Cost of sales
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2,915,135
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1,308,609
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6,502,328
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4,231,785
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Gross profit
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6,286,811
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4,879,164
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27,038,859
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11,122,823
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Selling, general and administrative expenses
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2,472,518
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3,976,111
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11,958,498
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9,752,783
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Research and development expenses
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353,790
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162,012
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965,000
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324,970
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Depreciation and amortization
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165,750
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152,656
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640,568
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605,262
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Total operating expenses
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2,992,058
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4,290,779
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13,564,066
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10,683,015
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Operating income (loss)
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3,294,753
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588,385
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13,474,793
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439,808
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Interest and financing expenses
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(294,412)
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(95,129)
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(478,436)
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(319,197)
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Interest and other income
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0
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41,461
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190,668
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285,148
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Income (loss) before income taxes and minority interest
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3,000,341
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534,717
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13,187,025
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405,759
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Income taxes recovery (expense)
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(42,478)
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204,856
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(1,974,118)
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(100,513)
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Income (loss) before minority interest
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2,957,863
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739,573
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11,212,907
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305,246
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Minority interest share of (income) loss
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(964,588)
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(558,934)
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(3,562,501)
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(1,001,279)
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Net Income (loss) for the year
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1,993,275
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180,639
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7,650,406
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(696,033)
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Foreign currency translation adjustment
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513,502
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12,858
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1,310,985
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302,490
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Comprehensive income (loss)
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2,506,777
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193,497
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8,961,391
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(393,543)
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Earnings(Loss) per share
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– Basic
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0.05
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0.005
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0.19
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(0.02)
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– Diluted
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0.05
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0.004
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0.19
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(0.02)
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Weighted average number of shares of
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common stock outstanding
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– Basic
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40,312,158
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39,893,803
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40,254,192
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38,229,944
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– Diluted
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40,851,072
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40,335,656
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40,637,876
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38,229,944
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About SINOVAC
Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&D, manufacturing, and commercialization of biomedical products that protect against human diseases.
SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected hand-foot-mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease, mumps, etc.
The COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive®, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine under "Category 1 Preventative Biological Products" and commercialized in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella vaccine were prequalified by the WHO.
SINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu®, to the Chinese government stockpiling program.
SINOVAC continually dedicates itself to pipeline development including but not limited to new technology, new vaccines as well as other biomedical products. We will constantly explore global opportunities of strategic expansion.
For more information, please visit the Company’s website at www.sinovac.com.
Contact:
Sinovac Biotech Ltd.
PR Team
pr@sinovac.com