Monday, 17 May 2010 07:45

Dyadic International 2010 first quarter results

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Dyadic International, Inc. ("Dyadic") (Pink Sheets: DYAI), a leading-edge biotechnology company focused on the discovery, development, manufacture and sale of specialty enzyme products and solutions for the bioenergy, industrial enzyme and biopharmaceutical industries, today announced financial results for the quarter ended March 31, 2010. 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 Pink Sheets website at www.pinksheets.com and on Dyadic's website at www.dyadic.com.

Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "We are pleased with our first quarter results as we continue to build our infrastructure to meet the increasing demands for our enzyme products and further the advancement and monetization of our technologies. We are particularly encouraged by the 30% increase in our product sales from the same period last year."

First Quarter Highlights and Recent Events

Achieved approximately 30% growth in first quarter product revenues over the same period last year

Improved product margins

Increased production capacity to meet current and anticipated demand

Resolved the securities class action stockholder lawsuit

Strengthened Dyadic’s leadership team through the appointment of an Executive Director Strategic Alliances and a Vice President Sales & Marketing

Dedicated a greater portion of Dyadic’s research and development capabilities to profit generating collaborations

SOURCE Dyadic International, Inc.

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