ODESSA, FL, Nov. 20, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Dais Analytic Corporation (“Dais” or the “Company”) (OTCQB: DLYT), a commercial nanotechnology materials business selling its industry-changing nanomaterial technology into the worldwide water, air and energy markets, announced its results for the third quarter of fiscal year 2018. The Company saw an increase in revenue and gross profit for the fourth consecutive quarter.
Revenue for the third quarter of 2018 was $354,558, more than triple compared to the same period in 2017, and was $915,836 for the first nine months of 2018, over 360% higher than the revenue for the first nine months of 2017. The revenue increase was driven by spreading product awareness and growth in demand of its patented Aqualyte™ membrane product coupled with revenues from ConsERV™ cores.
Gross margin also increased to $140,897 for the third quarter of 2018 and $308,673 for the first nine months of 2018, greater than the comparable periods in the previous year. Net loss for the third quarter of 2018 was $646,060, compared with a net loss of $577,026 for the third quarter of 2017, as Dais continues to invest in its business.
In June 2018, the Company announced it had secured orders totaling approximately $330,000, consistent with previously disclosed increases in revenue expectations for the remainder of 2018. These orders increased to greater than $750,000 during the third quarter. The new orders include sales of nanomaterials (Aqualyte™), components for NanoClear™ industrial waste water treatment, and ConsERV™ for heating, ventilating, and air-conditioning (HVAC). This represents a growth of over 220% in comparison to the first six months of the year. These are expected to contribute to an increase in revenue, as challenges in Dais’s supply chain to scale-up production of its proprietary products are addressed.
“Our priority and focus remain on building a profitable nanotechnology material-based platform business. Our Energy Recovery Ventilator product (ConsERV™) and our expanding commercial pilots for waste water treatment product (NanoClear™) continue to represent revenue-generating opportunities for Dais,” said Tim Tangredi, President and Chief Executive Officer of Dais. “In addition, global focus on energy efficiency, refrigeration and indoor air-quality has created considerable demand for the Company’s technology: the disruptive polymer membrane (Aqualyte™). Dais is a leader in the development and production of a versatile family of these membrane materials with applications in air, water and energy.”
Dais future revenue growth for the remainder of 2018 and in 2019 is expected to be driven by:
- Aqualyte™ nanomaterial sales through existing and new commercial partnerships;
- NanoClear™ sales in China where 33 pilots are currently operational;
- ConsERV™ sales through our partnership with the Zhejiang Menred Environmental Tech Co., Ltd, (“Menred Group”); and
- Entering into a strategic OEM relationship for sales of the Company’s PolyCool™ product, which uses the Company’s nanomaterial for a new generation of safer, more efficient cooling towers with membrane condensing evaporation technology.
About Dais Analytic Corporation
Dais Analytic Corporation (OTCQB: DLYT) is a nanotechnology business producing a versatile family of membrane materials - called Aqualyte™ - focusing on evolutionary or disruptive air, energy and water applications. The uses include:
- NanoClear™, a commercialized system treating contaminated industrial waste water providing ultra-pure potable water with higher system efficiencies at equal or better capital and operating costs than other technologies.
- ConsERV™, a commercially available engineered energy recovery ventilator that uses stale air being exhausted to precondition the temperature and moisture content of the incoming fresh ventilation air, typically saving energy, reducing CO2 emissions, and allowing for equipment downsizing;
- PolyCool™, an Aqualyte™-based next generation evaporative cooling technology that is nearing full commercialization. Aqualyte is configured for use in cooling towers and evaporative condensers for cooling uses in traditional HVAC, waste water treatment, and power systems industries providing reduced energy and operating costs. Other key features include preventing release of dangerous microbes, such as Legionella, and opening new markets for smaller air-cooled HVAC systems.
- NanoAir™, a water-based cooling cycle with no fluorocarbon refrigerants that is in early beta-stage testing which can replace existing vapor compression cooling cycles in most forms of air-conditioning and refrigeration, saving a projected 50% in energy and CO2.
Each use demonstrates the diversity of Dais' core product, Aqualyte™, a family of nanostructured polymers and engineered processes focused on minimizing consumption of irreplaceable natural resources and ending the degradation of our environment. To find out more about Dais please visit www.daisanalytic.com.
Safe Harbor Statement
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," or the negative of these words and/or similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. For example, statements about future revenues and the Company’s ability to fund its operations and contractual obligations are forward looking and subject to risks. Several important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the inability to raise capital to support the Company through its growth stage, the Company’s inability to generate projected sales and trade relations between the United States and China. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.