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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Sales (note 21) $ 229,650 $ 174,346 $ 72,431
Cost of sales 24,723 20,240 22,393
Gross profit 204,927 154,106 50,038
Selling, general and administrative expenses (including rent expenses incurred to a related party of 2018 - $810, 2017 - $793, 2016 - $807) (note 11(b)) 137,003 87,365 41,980
Provision for doubtful accounts 820 934 1,412
Research and development expenses 21,910 20,489 12,648
Loss on disposal of property, plant and equipment (note 8) 75 42 478
Government grants recognized in income (197) (141) (6,984)
Total operating expenses 159,611 108,689 49,534
Operating income 45,316 45,417 504
Interest and financing expenses – (including interest expenses incurred to a related party, 2018 - $453, 2017 - $262, 2016 - $176) (note 11(a)) (1,070) (1,569) (1,729)
Interest income 2,016 1,183 731
Other income, net 321 13 100
Income (loss) from continuing operations before income taxes 46,583 45,044 (394)
Income tax expense (note 13) (10,472) (8,339) (2,664)
Income (loss) from continuing operations 36,111 36,705 (3,058)
Income from discontinued operations, net of tax of nil (note 3) 0 0 2,338
Net income (loss) 36,111 36,705 (720)
Less: (Income) loss attributable to non-controlling interests (14,329) (10,898) 124
Net income (loss) attributable to shareholders of Sinovac 21,782 25,807 (596)
Income (loss) from continuing operations 36,111 36,705 (3,058)
Income (loss) from discontinued operations 0 0 2,338
Comprehensive income (loss) 25,115 44,803 (9,563)
Less: comprehensive (income) loss attributable to non-controlling interests (12,507) (12,089) 953
Comprehensive income (loss) attributable to shareholders of Sinovac $ 12,608 $ 32,714 $ (8,610)
Basic net income (loss) per share:      
Continuing operations $ 0.34 $ 0.45 $ (0.05)
Discontinued operations 0 0 0.04
Basic net income (loss) per share 0.34 0.45 (0.01)
Diluted net income (loss) per share:      
Continuing operations 0.34 0.45 (0.05)
Discontinued operations 0 0 0.04
Diluted net income (loss) per share $ 0.34 $ 0.45 $ (0.01)
Weighted average number of shares of common stock outstanding      
– Basic 64,727,146 57,033,816 56,949,083
– Diluted 64,977,554 57,101,191 56,949,083
Continuing Operations      
Foreign currency translation adjustments $ (10,996) $ 8,098 $ (8,843)
Comprehensive income (loss) $ 25,115 44,803 (11,901)
Discontinued Operations      
Foreign currency translation adjustments   0 0
Comprehensive income (loss)   $ 0 $ 2,338