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Dyadic International Reports Third Quarter 2013 Financial Results
Date:11/14/2013

ess release are forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause Dyadic's actual results, performance or achievements 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, 2013201220132012Revenue: (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited) Product Related Revenue, Net

$

7,082,214

$

5,797,971

$

3,244,856

$

2,093,125License Fee Revenue5,000,0005,500,000--Research and Development Revenue940,8101,591,309215,562426,789Total Revenue13,023,02412,889,2803,460,4182,519,914Cost of Goods Sold:6,667,0925,535,1102,769,0901,906,071Gross Profit6,355,9327,354,170691,328613,843Expenses:General and Administrative3,968,7933,241,1281,563,054984,213Sales and Marketing 660,798561,747241,186202,929Research and Development 795,616671,823226,122207,404Foreign Currency Exchange Loss (Gain), Net(47,310)21,866(80,360)(39,713)Total Expenses5,377,8974,496,5641,950,0021,354,833Income (Loss) from Operations978,0352,857,606(1,258,674)(740,990)Other Income (Expense) Interest Income6,6473,8763,6311,122Interest Expense(512,892)(524,445)(173,251)(176,726)Gain (Loss) on Settlement of Litigation(313,143)525,000(313,143)525,000Total Other Income (Expense)(819,388)4,431(482,763)349,396Income (Loss) Before Provision for Income Taxes158,6472,862,037(1,741,437)(391,594)Provision for Income Taxes(38,000)(65,000)--Net Income (Loss)

$

120,647

$

2,797,037

$

(1,741,437)


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SOURCE Dyadic International, Inc.
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