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

ximately $814,000 compared to approximately $554,000 for the six months ended June 30, 2010.

License fee revenue for the second quarter ended June 30, 2011 increased to approximately $1.0 million compared to no license fee revenue for the second quarter ended June 30, 2010. License fee revenue for the six months ended June 30, 2011 increased to approximately $1.0 million compared to approximately $32,000 for the six months ended June 30, 2010. The increases in license fee revenue for the three and six month periods ended June 30, 2011 compared to the same periods ended June 30, 2010 were due to a $1.0 million upfront license fee recognized in the second quarter of 2011 from a major player in the animal feed industry pursuant to the research, development and license agreement entered into between Dyadic and this commercial partner in June 2011.

Net loss for the second quarter ended June 30, 2011 was approximately $736,000, or $(0.02) per basic and diluted share, compared to a net loss of approximately $1.4 million, or $(0.05) per basic and diluted share for the second quarter ended June 30, 2010. Net loss for the six months ended June 30, 2011 was approximately $2.2 million, or $(0.07) per basic and diluted share, compared to a net loss of approximately $2.5 million, or $(0.08) per basic and diluted share, for the six months ended June 30, 2010.

At June 30, 2011, cash and cash equivalents were approximately $3.0 million compared to approximately $4.5 million at December 31, 2010. A significant portion of the decrease in cash since the end of last year was due to costs incurred by Dyadic in the completion of the arbitration portion of its professional liability lawsuit against its former auditors and outside counsel.

Conference CallDyadic's second quarter 2011 financial results conference call is scheduled for 5:00 p.m. Eastern Time on Thursday, August 4, 2011. The conference call may be accessed by dialing 800-378-6902 (from the United
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SOURCE Dyadic International, Inc.
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