Sinovac Files 2017 Annual Report on Form 20-F and Reports Unaudited Second Half, Audited Full Year 2017 Financial Results

Friday, May 11, 2018 General News
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SINOVAC BIOTECH LTD.

Reconciliations of Non-GAAP measures to the nearest comparable GAAP measures

For the six and twelve months ended December 31, 2017 and 2016

(Expressed in thousands of U.S. Dollars, except for numbers of shares and per share data)

 Six months ended December 31 

 Twelve months ended December 31 

2017

2016

2017

2016

 (Unaudited) 

 (Unaudited)

 (Unaudited) 

  (Unaudited) 

 Income (loss) from continuing operations 

20,860

11,094

36,705

(3,058)

 Adjustments: 

   Share-based compensation 

495

1,777

979

2,409

   Depreciation and amortization 

2,641

2,310

4,881

5,310

   Interest and financing expenses, net of interest income 

28

667

386

998

   Net other (income) expense 

91

136

(13)

(100)

   Income tax expense 

11,299

4,156

8,339

2,664

 Non-GAAP EBITDA 

35,414

20,140

51,277

8,223

 Income (loss) from continuing operations 

20,860

11,094

36,705

(3,058)

   Add: Foreign exchange loss 

(1,188)

539

(1,323)

942

   Add: Share-based compensation 

495

1,777

979

2,409

 Non-GAAP net income (loss) from continuing operations 

20,167

13,410

36,361

293

 Net Income (loss) from continuing operaitons attributable to shareholders of Sinovac 

14,954

7,654

25,807

(2,934)

 Add: Non-GAAP adjustments to net income from continuing operaitons 

(693)

2,316

(344)

3,351

 Non-GAAP net income attributable to shareholders of Sinovac from continuing operations for computing non-GAAP diluted earnings (loss) per share  

14,261

9,970

25,463

417

 Weighted average number of shares on a diluted basis 

57,250,279

57,154,463

57,101,191

56,949,083

 Diluted earnings (loss) per share from continuing operations 

0.26

0.13

0.45

(0.05)

 Add: Non-GAAP adjustments to net income per share from continuing operatons 

(0.01)

0.04

(0.01)

0.06

 Non-GAAP Diluted earnings per share from continuing operations 

0.25

0.17

0.45

0.01



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