Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Dais Analytic Corporation Announces Third Quarter and Nine-Month Financial Results for the Period Ended September 30, 2010

Abstract:
Quarterly Revenues up 130% and Nine-Month Revenues up 115% on Year-Over-Year Basis

Dais Analytic Corporation Announces Third Quarter and Nine-Month Financial Results for the Period Ended September 30, 2010

Tampa, FL | Posted on November 17th, 2010

Dais Analytic Corporation (DLYT 0.35, 0.00, 0.00%) today announced its financial results for the third quarter ended September 30, 2010.

Three-Month Financial Results

Quarterly net sales were $952,374, an increase of $538,360, or 130% on a year-over-year basis. Core Unit sales to third parties increased by $180,000 and ConsERV system sales increased by $357,000, respectively.

Third quarter gross profit, excluding license fees, was $176,840, compared to $146,619 for the same period last year. Gross margins were 19.0% and 37.3%, respectively. The negative variance in gross profit and related gross margins was due primarily to growth related manufacturing and supply chain related issues for the ConsERV product, which the Company believes are close to being resolved. In addition, the Company did not record any NanoClear (waste water clean-up) revenues in this quarter consistent with the project schedule.

Net loss for the quarter ended September 30, 2010 was $555,692, or ($0.02) per diluted share, compared to a net loss of $436,927, or ($0.02) per diluted share for the same period last year. The increase in net loss was due primarily to higher SG&A expenses and cost of goods sold.

Accounts receivable as of September 30, 2010 were $923,492, compared to $1,187,263 as of June 30, 2010 and $187,434 as of December 30, 2009. Cash and cash equivalents were $249,056, $411,439 and $1,085,628, respectively.

Nine-Month Financial Results

Net sales for the nine-month period ended September 30, 2010 were $2,369,828, an increase of $1,270,107, or 115% on a year-over-year basis. The positive variance was due to recognition revenues from the Company's nanotechnology clean water process with CAST/Genertec-America, and increased ConsERV sales.

Gross profit, excluding license fees was $681,742, compared to $345,710 for the same period last year. Gross margins were 29.5% and 33.3%, respectively.

Net loss for the nine-month period ended September 30, 2010 was $1,700,410, or ($0.06) per diluted share, compared to a net loss of $1,430,110, or ($0.08) per diluted share for the same nine-month period last year.

Business Discussion and Outlook

Tim Tangredi, President & CEO of Dais Analytic Corporation, said, "We continue to make strong progress validating our nanotechnology's ability to offer 'disruptive' performance in three sectors of the clean technology markets. We recently demonstrated scalability of our water treatment process (NanoClear) in China by operation of a larger configuration yielding similar water processing throughput as today's generally available materials while being able to clean the waste water to the 'parts per billion' level which is 1000 times cleaner than most other processes, including reverse osmosis. We believe this is an important milestone that Dais plans to leverage for more business in the coming quarters."

Dais plans to construct a NanoClear installation near its headquarters in Florida in 2011 demonstrating its material's wide range of abilities in water cleaning applications including wastewater, desalination, and ultra filtration.

David Longacre, Vice President of ConsERV Sales and Marketing added, "Our ConsERV energy recovery business continues to see increasing demand believed created in part by better pre-sales support, growing awareness for the product's enhanced performance provided by Dais's nano-structured materials, and increased quality of the independent representative sales force. In addition, we expect increasing volume will also play a key role going forward. We are in the process of broadening our sales and marketing efforts for ConsERV into other targeted growth markets including South America, Europe and the Middle East, and look forward to reporting further progress on these fronts."

Craig Ducharme, General Manager of Operations and Manufacturing stated, "In the last quarter we took important steps to improve our manufacturing efficiencies and supply chain practices which we believe will drive greater profitability, more reliable delivery times, and higher quality product."

Scott Ehrenberg, Chief Technology Officer of Dais shared, "The ARPA-E program awarded by the US Department of Energy this past quarter is a poignant use of our materials for energy efficient heating, cooling, and refrigeration products such as our NanoAir application. The materials -- in this configuration -- create an incredibly disruptive, game-changing approach to for the heating, cooling, and refrigeration industry in terms of cost, efficiency and reduction of carbon emissions found when compared to today's most advanced HVAC or refrigeration systems."

The Company plans to put a pilot unit into operation by the end of 2010, projects in 2011 it will achieve the goals of the ARPA-E program, and it believes it will be integrating the techniques and knowledge learned as it introduces NanoAir commercially in 2012.

Key Operational Highlights

-- In the third quarter, Dais was awarded a $681,322 grant from the Department of Energy's, Advanced Research Project Agency -- Energy (ARPA-E) for the further development of NanoAir. The Grant is contingent upon the Company's cost-share contribution of $171,500 of the proposed total project cost $852,822.

-- Demonstrated 'first water' on Inner Mongolia water treatment project with NanoClear technology, showing large surface area evaporators and condensers will function per expectations delivering 'parts-per-billion' clear water.

Please visit sec.gov (searching 'Dais Analytic' or on 'DLYT') to obtain the full text of the 10Q filing.

For Dais Analytic Corporation Investors:

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. Dais Analytic Corporation assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

####

About Dais Analytic Corporation
Dais Analytic Corporation is commercializing its nanotechnology materials and processes into break-through products becoming a leading participant in the applied nanotechnology industry with a specialized focus on the needs of the energy and water industries. Products incorporating Dais's nanotechnology minimize consumption of irreplaceable natural resources and stop degradation of our environment. To find out more about ConsERV (energy recovery for HVAC) please log onto www.conserv.com

For more information, please click here

Contacts:
Public Relations
Shamrock Policy Group
Amy Maguire
Tel: 727-767-6776


Investor Relations:
Hayden Communications, Inc.
Todd M. Pitcher
Managing Partner
Aspire Clean Tech Communications
Tel: 760-798-4938

Copyright © Dais Analytic Corporation

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Iranian Researchers Present New Model to Strengthen Superconductivity at Higher Temperatures April 19th, 2014

Iranian Researchers Produce New Anti-Cancer Drug from Turmeric April 19th, 2014

'Exotic' material is like a switch when super thin April 18th, 2014

Innovative strategy to facilitate organ repair April 18th, 2014

Openings/New facilities/Groundbreaking/Expansion

JPK announces expansion of its global sales and service activities in China and USA April 15th, 2014

Thailand's Next Move on Research and Innovation March 11th, 2014

Beneq and LETI open ALD-dedicated research laboratory in St. Petersburg November 18th, 2013

NTU sets up Southeast Asia’s first nanomedicine research institute - New $60 million institute to focus on diabetes, cardiovascular, ophthalmology and skin therapeutics November 6th, 2013

Products

Nanovations Sets new Benchmark in Automotive Windscreen Coating Durability: Nanovations new automotive glass coating Vision Protect, sets new benchmark in glass coating durability March 23rd, 2014

Tawada CleanTech to show fabric duct and eco cool coating in MegaBuild March 21st, 2014

NEI Introduces Self-healing Anti-corrosion Coating for Zinc-Plated and Galvanized Steel March 14th, 2014

Cima NanoTech Announces Commercial Production of its SANTE(R) FS200 Touch Films for Large Format Touch Screens February 19th, 2014

Announcements

Iranian Researchers Present New Model to Strengthen Superconductivity at Higher Temperatures April 19th, 2014

Iranian Researchers Produce New Anti-Cancer Drug from Turmeric April 19th, 2014

'Exotic' material is like a switch when super thin April 18th, 2014

Innovative strategy to facilitate organ repair April 18th, 2014

Financial Reports

Nanometrics to Announce First Quarter Financial Results on April 29, 2014 April 9th, 2014

Acid folic was used in the production of the nanogel as targeting agent in drug delivery. The nanogel can be used in the treatment of cancer as a stable nanocarrier. Stability of nanocarriers is an important issue in target delivery mechanisms. Most of nanocarriers, due to their March 17th, 2014

Arrowhead Reports Fiscal 2014 First Quarter Financial Results - Conference Call Today at 4:30 p.m. Eastern Time February 4th, 2014

Arrowhead to Report Fiscal 2014 First Quarter Financial Results - Conference Call Scheduled for Tuesday, February 4, 2014 January 28th, 2014

Water

Thinnest feasible membrane produced April 17th, 2014

Trees go high-tech: process turns cellulose into energy storage devices April 7th, 2014

Dais Analytic Wins SBIR Grant: Dais Analytic Receives US Army Small Business Innovation Research Grant to Further Its Demonstrated Successes in Cleaning Most Forms of Wastewater March 28th, 2014

University of Waterloo Engineering to Showcase Student Design March 14th, 2014

Grants/Awards/Scholarships/Gifts/Contests/Honors/Records

Energy Research Facility Construction Project at Brookhaven Lab Wins U.S. Energy Secretary's Achievement Award April 16th, 2014

IDTechEx Printed Electronics Europe 2014 Award Winners April 1st, 2014

Dais Analytic Wins SBIR Grant: Dais Analytic Receives US Army Small Business Innovation Research Grant to Further Its Demonstrated Successes in Cleaning Most Forms of Wastewater March 28th, 2014

Scientists develop world’s first light-activated antimicrobial surface that also works in the dark March 24th, 2014

NanoNews-Digest
The latest news from around the world, FREE







  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE