| Income Statement for VaxGen Inc. (VXGN) | | | | | | | Income | in Thousands of Dollars | | | 12/2003 | 12/2002 | 12/2001 | 12/2000 | 12/1999 | | | Operating Revenue | 14,298 | 1,582 | 895 | 275 | - | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | 1,075 | 1,067 | 580 | 1,075 | 60 | | Gross Operating Profit | 15,373 | 2,649 | 1,475 | 1,350 | 60 | | | Selling/General/Admin Expense | (22,454) | (14,373) | (11,823) | (17,465) | (7,479) | | Research & Development | (22,407) | (20,975) | (16,701) | (18,513) | (18,003) | | EBITDA | (29,488) | (32,699) | (27,049) | (34,628) | (25,422) | | Depreciation & Amortization | (1,075) | (1,067) | (580) | (1,075) | (60) | | EBIT | (30,563) | (33,766) | (27,629) | (35,703) | (25,482) | | Interest Income | - | - | - | - | - | | Other Income, Net | 3,342 | 2,037 | 3,274 | 3,922 | 2,148 | | Total Income Avail For Interest Expense | (27,221) | (31,740) | (24,355) | (31,781) | (23,334) | | Interest Expense | (9) | (4) | (19) | (22) | - | | Pre-Tax Income | (27,230) | (31,744) | (24,374) | (31,803) | (23,334) | | Income Taxes | - | - | - | - | - | | Minority Interest | 1,703 | - | - | - | - | | Net Income from Continuing Operations | (25,527) | (31,744) | (24,374) | (31,803) | (23,334) | | Net Income from Discontinued Operations | - | - | - | - | - | | Net Income from Total Operations | (25,527) | (31,744) | (24,374) | (31,803) | (23,334) | | | Normalized Income | (25,527) | (31,733) | (24,374) | (31,803) | (23,334) | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | - | (11) | - | - | - | | Income from Cum. Effect of Acct Change | - | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | (25,527) | (31,744) | (24,374) | (31,803) | (23,334) | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2003 | 12/2002 | 12/2001 | 12/2000 | 12/1999 | | | Dividends Paid Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Preferred Dividends | 109 | 1,090 | 740 | - | - | | | Basic EPS from Continuing Operations | -1.52 | -3.13 | -1.90 | -2.33 | -2.44 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Total Operations | -1.52 | -3.13 | -1.90 | -2.33 | -2.44 | | | Diluted EPS from Continuing Operations | -1.52 | -3.13 | -1.90 | -2.33 | -2.44 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Total Operations | -1.52 | -3.13 | -1.90 | -2.33 | -2.44 | | | |
