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Dyadic International Reports 2011 First Quarter Financial Results
Date:5/5/2011

JUPITER, Fla., May 5, 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 March 31, 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 Markets website at www.otcmarkets.com and on Dyadic's website at www.dyadic.com.

Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "During the first quarter, Dyadic achieved strong growth in research revenue which continues to serve as the proving ground for future licensing and other third party collaborations. We also experienced improving margins in our enzyme business and launched two new products for the pulp & paper and biofuels markets which are currently being sampled and undergoing trials by new and existing customers. Finally, we added to the value and protection of our products and technologies with the issuance of several new U.S. patents."

First Quarter Highlights and Recent Events

  • Total revenue for the first quarter increased approximately 15% over the same period last year highlighted by a greater than five-fold increase in research and development revenue
  • Product margins for the first quarter increased compared to the previous year's first quarter
  • Gross profit for the first quarter increased by approximately 95% over the same period last year as a result of higher research revenue, improved product margins and further cost controls and operational efficiencies
  • Launched two new products: FibreZyme® G200 and AlternaFuel® CMAX™, for the pul
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  • SOURCE Dyadic International, Inc.
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