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Dyadic International Reports Profitable 2012 Full Year Financial Results
Date:3/7/2013

Mimetic Project and the HealthBread Project, two multidisciplinary research consortia funded by the European Community's Seventh Framework Programme (FP7)
  • New Products
  • Launched FibreZyme® G5000 high performance powder enzyme for pulp and paper manufacturing processes
  • Patents
  • Received four new issued patents (two U.S. and two foreign)
  • Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "We executed our strategy very effectively in 2012, resulting in our first yearly profit since 2009. By demonstrating the capabilities of our technologies and products to our licensees, research partners and customers, we increased revenue in every business segment. Because our C1 platform creates real value in diverse applications such as animal health and nutrition, food, biofuels and biopharmaceuticals, we believe our efforts to identify new collaborations and sales will bear fruit in the months and years ahead. Provided we conclude a specific pending licensing transaction, 2013 is anticipated to be another great year that should equal or exceed our 2012 results."

    Full Year 2012 Financial ResultsRevenue. Total revenue increased 52% for the year ended December 31, 2012 to $15.6 million as compared to $10.3 million for the prior year.

    License fee revenue increased more than fivefold to $5.5 million for the year ended December 31, 2012 as compared to $1.0 million for the prior year. This increase was due to a $5.5 million license fee recognized in the second quarter of 2012 from Dyadic's non-exclusive licensee, Abengoa Bioenergy, for an expansion of its rights under its license agreement with Dyadic.

    Research and development revenue increased 25% to $2.3 million for the year ended December 31, 2012 as compared to $1.8 million for the year ended December 31, 2011.

    Net product related revenue increased 6% to $7.8 million for the year ended December 31, 2012 as compared
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    SOURCE Dyadic International, Inc.
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