Dyadic International Inc (DYAI)

[Tommy]

DYADIC INTERNATIONAL REPORTS 2012 FIRST QUARTER FINANCIAL RESULTS

http://www.dyadic.com/pdf/DyadicReports2012Q1FinancialResults5-10-12FINAL.pdf

Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "During the first quarter, Dyadic continued to see strong growth in research and development revenue which serves as the proving ground for potential future licensing and other third party collaborations while dramatically reducing our expenses. We also entered into our first significant research and license agreement with a major food company and launched a new product for the pulp and paper market. After the first quarter, we improved our financial flexibility by extending the maturity dates of all our debt. We also amended our non-exclusive license agreement with Abengoa Bioenergy which gives us every reason to believe that Dyadic will be profitable for the second quarter of 2012 as well as for the full fiscal year.”