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Dyadic International Reports 2011 Third Quarter Financial Results
Date:11/3/2011

JUPITER, Fla., Nov. 3, 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 September 30, 2011.

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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.

Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "In the third quarter, Dyadic continued to make strong progress in performing funded research at our facility in the Netherlands which not only increases our research and development revenue but also enhances our opportunities for broader strategic partnerships.  We also continued to see improvements in the customer base and profitability of our industrial enzyme business. Lastly, our biofuels licensees reported progress in the third quarter in scaling up towards ultimate commercialization of second generation biofuels and biochemicals which may utilize our C1 technology."

Financial ResultsTotal revenue for the third quarter ended September 30, 2011 increased 30% to $2.6 million compared to $2.0 million for the quarter ended September 30, 2010. Total revenue for the nine months ended September 30, 2011 increased 27% to $7.9 million compared to $6.2 million for the same period last year. The increase in total revenue for both periods as compared to the same periods ended September 30, 2010 was due to an
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SOURCE Dyadic International, Inc.
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