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Sinovac Announces Much Lower First Quarter

publication date: May 15, 2009

Sinovac Biotech (北京科兴生物制品有限公司) reported a substantial 26% decline in Q1 sales, which fell from $8.9 million in 2008 to only $6.6 million this year. The revenue drop left net income at a barely positive level of just $25,000, down from $1.6 million in last year’s first quarter. Nevertheless, despite the weakening in its revenue trend, Sinovac courageously called for full-year 2009 revenues of $55-$60 million, a 20% increase. It’s a long way from a $6.6 million first quarter to a $60 million year. More details...

Stock Symbol: (NYSE Amex: SVA)

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