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Dyadic International Reports Q2 2014 Financial Results
Date:8/14/2014

JUPITER, Fla., Aug. 14, 2014 /PRNewswire/ -- Dyadic International, Inc. ("Dyadic") (OTCQX: DYAI), a global biotechnology company whose patented and proprietary technologies are used to develop, manufacture and sell enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries, today announced financial results for the second quarter ended June 30, 2014.

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Chief Executive Officer, Mark Emalfarb, stated, "The past quarter continued to be an extremely exciting time at dyadic from both a business and technology perspective. Our business performance has been strong with year-over-year product related revenue growth of 28% and R&D revenue growth of 56% through the first six months of 2014. The margins in our enzyme product sales have improved by 18% during the first half of this year.  In the second generation biofuel space, we are looking forward to and expect to start receiving milestone and royalty revenue in the second half of 2014 as Abengoa reported that they have already begun producing their enzymes and is shortly expected to start up their Hugoton Cellulosic Ethanol plant.  Additionally, we recently signed a collaboration agreement with CIMV, a leading biofuel pretreatment technology company.  We have, or expect to have, R&D project extensions with several of our major partners including Sanofi, BASF and our confidential animal feed licensee. We are continuing our commitment to building a world-class team by hiring a new CFO and new member Board of Directors this past quarter.  We are also continuing our commitment to shareholders to become a fully SEC reporting company, and expect that our Form 10 registration documents will be filed today after close of business"

Q2 2014 Financial ResultsRevenue

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Related biology technology :

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