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Dyadic International Reports 2011 Second Quarter Financial Results
Date:8/4/2011

JUPITER, Fla., Aug. 4, 2011 /PRNewswire/ -- Dyadic International, Inc. ("Dyadic") (OTC Pink: DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of enzyme and protein products for the bioenergy, industrial enzyme and biopharmaceutical industries, today announced financial results for the quarter ended June 30, 2011. 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 OTC market website at www.otcmarkets.com/stock/DYAI/financials and on Dyadic's website at www.dyadic.com/wt/dyad/investors.

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Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "The second quarter was highlighted by two important transactions. We opened the quarter with our first significant research collaboration in biopharmaceuticals with Sanofi Pasteur and EnGen Bio to leverage Dyadic's C1 technology to produce certain vaccines. We closed the quarter with a research, development and license agreement with a major player in the animal feed industry to use C1 to produce new animal feed products. These and other transactions show the benefits of providing integrated solutions to our partners and customers which include research, licensing and product offerings. Finally, we added to the value and protection of our products and technologies with the issuance of several new U.S. patents."

Second Quarter Highlights

  • Total revenue for the second quarter increased approximately 35% over the same period last year
  • Gross profit for the second quarter increased by 81% over the same period last year as a result of higher license fee revenue, improved product margins and further cost controls and operational efficie
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  • SOURCE Dyadic International, Inc.
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