Dyadic rocks Q1– gross profits double, revenue up 20%

In Florida, Dyadic’s gross profit in Q1 of FY2014 has nearly doubled from $520,000 to over $1,000,000 since FY2013, according to the company’s Q1 results announced last week. Revenues also grew 20% in Q1.

Regarding the coming months, CEO Mark Emalfarb said, “Dyadic’s technology licensing model is expected to bring us recurring royalty streams in a broad variety of end markets.  We anticipate the first of such royalties later this year from Abengoa Bioenergy, a C1 licensee. Abengoa has reported that their cellulosic ethanol plant in Hugoton, Kansas will begin operations this year. By strengthening our European leadership team and expanding our Dutch research center we expect to see more rapid technology advancements and accelerated growth in research and product revenues. We are committed to augmenting our leadership team worldwide, and we look forward to making additional announcements in the coming months.”

More on the story.