Sinovac Biotech (SVA) Swings to Q1 Profit

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Sinovac Reports Unaudited First Quarter 2016 Financial Results

May 26, 2016 6:00 PM EDT

BEIJING, May 26, 2016 /PRNewswire/ -- Sinovac Biotech Ltd. (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, announced today its unaudited first quarter ended March 31, 2016.

First Quarter 2016 Financial Highlights(compared to the first quarter of 2015)

Quarterly sales from continuing operations were $11.0 million, an increase of 19.0% from $9.2 million in the prior year period. Gross profit from continuing operations was $6.3 million, a decrease of 8.3% from $6.9 million in the prior year period. Gross margin was 57.8%, compared to 74.9% in the prior year period. Loss from... More