ODESSA, FL, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Dais Analytic Corporation (OTCQB: DLYT), a commercial nanotechnology materials business selling its industry-changing nanomaterial technology into the worldwide water, air and energy markets announced an increase in its revenue and gross profit for three consecutive quarters beginning in the fourth quarter of 2017.
Revenue increased by 168% in the second quarter of 2018 over the previous year, 2017, and increased by 311% for the first six months of 2018 over the six months of 2017. Revenue for the second quarter of 2018 was $308,104 almost double compared to $115,024 for the same period in 2017, and was $561,278 for the first six months of 2018, more than the $136,400 in revenue for the first six months of 2017. The revenue increase was driven by continued growth in demand of its patented Aqualyte™ membrane product coupled with higher revenues from NanoClear™ modules for waste water treatment due primarily to increased shipments to China during the second quarter of 2018.
Gross margin also increased to $86,774 in the second quarter of 2018 and $167,776 for the first six months of 2018, significantly higher than the comparable periods in the previous year. Net loss for the second quarter of 2018 was $670,091, compared with a net loss of $951,335 for the second quarter of 2017 as Dais continues to invest in its business.
"We have focused on using our disruptive Aqualyte™ nanotechnology membrane in growing markets in the waste water treatment and energy efficiency sectors that we anticipate will accelerate future growth. We expect trends in these industries to drive unprecedented growth which are at the center of our strategy, and for the technologies in our portfolio,” said Tim Tangredi, President and Chief Executive Officer of Dais. “More importantly, we are very focused on building strategic partnerships, improving operational efficiencies and optimizing our product portfolio to achieve profitability and create a solid base that will enable us to grow successfully.”
Dais future revenue growth for the remainder of 2018 and in 2019 will 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 steady increase in sales in the North American market.
· 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.
Dais projects it will continue to grow throughout 2018 as it sets its sights on a conventional capital raise and planned future up-listing to a national securities exchange such as the NASDAQ Capital Market.
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," and 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.
Peter Dichiara
212-658 0458
