Sales jump 30% at Dyadic in Q3

In Florida, Dyadic reports that total revenue for 3Q, ending September 30, 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 in 2010 was due to an increases in research and development revenue and license fee revenue.

License fee revenue for the nine months increased to $1.0 million compared to $32,000 for the nine months in September, 2010, while net product revenue for the third quarter increased to $2.0 million compared to $1.9 million for the third quarter ended September.  Finally, research and development revenue for the third quarter increased to $536,000 compared to $64,000, compared to the same quarter in 2010.