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Dyadic International Reports 2010 Third Quarter Financial Results
Date:11/15/2010

JUPITER, Fla., Nov. 15, 2010 /PRNewswire-FirstCall/ -- Dyadic International, Inc. ("Dyadic") (Pink Sheets: DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of specialty enzyme and protein products and solutions for the bioenergy, industrial enzyme and biopharmaceutical industries, today announced financial results for the third quarter ended September 30, 2010. The financial information contained in this press release should be read in conjunction with the financial statements and related footnotes which have been posted on the Pink Sheets website at www.pinksheets.com and on Dyadic's website at www.dyadic.com.

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Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "During the third quarter, we improved our cash position, increased our enzyme sales and made progress in further developing our internal and external efforts to identify, negotiate and secure new licensing opportunities and other strategic collaborations for our core technologies."

Recent Company HighlightsIn the third quarter of 2010, Dyadic made progress in the following areas:

Cash Position

  • Improved cash position by raising an aggregate of $4,000,000 through the private placement of convertible subordinated secured promissory notes

  • Industrial Enzymes

  • Increased sales by 15% in the third quarter as compared to the same period a year ago
  • Improved product mix resulting in increased product margins of 31% for the year to date as compared to 22% for the same period a year ago
  • Expanded distribution network to increase product availability in remote markets
  • Introduced ROCKS
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  • SOURCE Dyadic International, Inc.
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