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

to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by law, Dyadic expressly disclaims any intent or obligation to update any forward-looking statements.DYADIC INTERNATIONAL, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Nine Months Ended September 30, Three Months Ended September 30, 2010 2009 2010 2009 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue:Product Related Revenue, Net

$

5,541,489

$

4,877,551

$

1,922,552

$

1,666,587License Fee Revenue32,00010,175,000-125,000Research and Development Revenue617,6953,918,56164,120297,760Total Revenue6,191,18418,971,1121,986,6722,089,347Cost of Goods Sold:4,738,3924,574,3531,647,4131,598,567Gross Profit1,452,79214,396,759339,259490,780Expenses:General and Administrative3,740,0392,475,6421,105,897631,263Sales and Marketing 738,757723,661266,161268,204Research and Development 920,444863,311271,809238,841Foreign Currency Exchange Losses (Gains), Net137,85251,223(122,691)971Total Expenses5,537,0924,113,8371,521,1761,139,279Income (Loss) from Operations(4,084,300)10,282,922(1,181,917)(648,499)Other Income (Expense) Interest Income46,003113,8989,99242,903Interest Expense(132,657)(160,189)(67,591)(50,323)Gain on Reduction of Accrued Stockholder Litigation410,000---Other(155,260)1,494(155,503)1,494Total Other Income (Expense)168,086(44,797)(213,102)(5,926)Net Income (Loss)

$

(3,916,214)

$

10,238,125

$

(1,395,019)

$

(654,425)Net Income (Loss) per Common ShareBasic

$

(0.13)

$

0.34

$

(0.04)

$

(0.02)Diluted

$

(0.13)

$

0.31

$

(0.04)

$

(0.02)Weighted Average Common Shares Used in  Calculating Net Income (Loss) Per Share:Basic30,971,29630,042,58931,063,14730,119,18
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SOURCE Dyadic International, Inc.
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