Sinovac gains on a solid Q2 earnings beat

|About: Sinovac Biotech, Ltd. (SVA)|By:, SA News Editor

Sinovac Biotech (SVA +8.2%) pops after its Q2 easily beat estimates this morning.

Sales increased by 86.4% to $17.5M from $9.4M.

Gross profit increased by 70.1% to $13.6M from $8.0M.

Net income was $1.3M, compared to net loss of $1.6M in the prior year.

Cash and cash equivalents totaled $92M, compared to $91.2M as of December 31, 2012.