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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Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company that focuses on the research, development, manufacturing, and commercialization of vaccines that protect against human infectious diseases.
SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A and B, seasonal influenza, pneumococcal disease, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), varicella, mumps, and poliomyelitis.
SINOVAC's COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The Healive®, a hepatitis A vaccine manufactured by the Company, passed the assessment under WHO prequalification procedures in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine, that was commercialized in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) was prequalified by WHO.
SINOVAC was the first company that granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied to 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 has been continually dedicating itself to new vaccine research and development, with more combination vaccine products in the pipeline, and constantly exploring opportunities in the international market. SINOVAC looks forward to conducting more extensive and in-depth trade and cooperation with more countries, enterprises, and professional institutions.
For more information, please see the Company’s website at www.sinovac.com.
Contacts
Sinovac Biotech Ltd.
Helen Yang
+86-10-8279-9871 or
+86-10-5693-1897
Fax: +86-10-6296-6910
ir@sinovac.com
ICR Inc.
Bill Zima
U.S.: 1-646-308-1707
william.zima@icrinc.com