Dais Analytic Corporation Shares Financial & Business Activities

TAMPA, Fla., Dec. 3, 2012 /PRNewswire/ -- Dais Analytic Corporation (OTC.BB: DLYT) announced financial results for the third quarter ended September 30, 2012, and summarized key business issues affecting the Company's finances and business outlook.

Tim Tangredi, CEO of Dais Analytic Corporation, said, "2012's third quarter was pivotal for Dais and its shareholders." Tangredi continues "ConsERV system and core revenues continue to head upward, the Company repaid its secured and unsecured debt, management changes have been made – with key additions to come, we secured $7.0 million in growth capital from the sale of equity to Green Valley Investment, and we are experiencing unprecedented strategic interest in our application verticals with the keenest interest in our Aqualyte® nano-materials and processes for cleaning of toxic contaminated water."

Financial Results for the Three and Nine Months Ended September 30, 2012

Total revenues for the three months ended September 30, 2012 and 2011 were $849,469 and $625,949.  The increase in revenues for the three months ended September 30, 2012 was mainly due to the increase in the number of ConsERV® systems, and Aqualyte® enthalpy cores (cores only) delivered during the period.

The total revenues for the nine months ended September 30, 2012 and 2011 were $2,537,967 and $2,608,722, respectively. The small decrease in revenues for the nine months ended September 30, 2012 was attributable to (a) the residual effects of lower orders given customers' concerns generated earlier in the year related to the Company's ability to repay a convertible secured promissory note which was repaid in fully on July 13, 2012, and (b) a slight slowdown in customer deliveries of ConsERV® systems as the Company worked to complete two new 'in-house' Aqualyte® enthalpy core production lines installed bringing the manufacturing process 'in-house'.

Cost of goods sold decreased $266,281 to $1,707,554 and represented 67% of revenues for the nine months ended September 30, 2012 compared to $1,973,835 or 76% of revenues for the nine months ended September 30, 2011. Gross profit margin increased from 24% in 2011 to 33% in 2012. Cost of goods sold increased $51,895 to $518,166 and represented 61% of revenues for the three months ended September 30, 2012 compared to $466,271 or 74% of revenues for the three months ended September 30, 2011. Gross profit margin increased from 26% in 2011 to 39% in 2012.

The increase in the gross profit margin during the nine-month period was due to (a.) the Company focusing on selling products with greater contribution to gross margin than in the prior year, and (b.) the recognition of $150,000 from a nonrefundable deposit from a sales agreement terminated earlier this year.

Key Business Highlights

"We continue to sell and ship high quality ConsERV Energy Recovery Ventilator units, and are striving to work closely with our independent sales representative network to address their clients' needs. We completed the transition of ConsERV core production capabilities to in-house vs. outsourced striving for improved customer response times, and we began what we believe is the highest quality testing regime in the industry for our Aqualyte® enthalpy core product," said David Longacre, Dais' Vice President of Sales and Marketing.

"Concentration and prioritization of tasks accelerated our design process," said Brian Johnson, Dais's Director of Design and Engineering. "We have developed and are qualifying a new member of the Aqualyte™ family of nano-structured materials and we have made impressive progress on reducing raw material and processing costs for the manufacturing of our existing nano-materials.  These developments are undergoing characterization with a potential release for use in operations in the late 1Q 2013 timeframe.  Perhaps the most exciting technological development is the progress made with NanoCap™ (ultra capacitor energy storage) application as it nears a milestone in its development cycle."  

About Dais Analytic Corporation

Dais Analytic Corporation (OTC.BB: DLYT) is commercializing its innovative Aqualyte™ family of nano-structured materials and processes focusing on evolutionary or disruptive air, energy and water applications.

The uses include:

• ConsERV™, a commercially available engineered energy recovery ventilator (an HVAC product) useful for efficient management of ventilation air's temperature and moisture content using the energy found in the outgoing 'stale' air stream to pre-condition the incoming fresh air often saving energy, CO₂, and allowing for equipment downsizing;
• NanoAir™, a beta-stage water-based, no fluorocarbon producing refrigerant cooling cycle useful to replace the existing gas based compression cooling cycle in most all forms of air-conditioning and refrigeration saving a projected 50% in energy and CO₂;
• NanoClear™, a beta-stage method for treating contaminated water (sea, waste, industrial) to provide 1,000 times cleaner potable water; and;
• NanoCap™, which holds promise to use the Aqualyte™ family to form a disruptive non-chemical energy-storage device (an ultra capacitor) when completed for use in transportation, renewable energy, and 'smart grid' configurations.

Each use demonstrates the diversity of Dais' core product - Aqualyte™ - the family of nano-structured polymers and engineered processes having a focus 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, and to learn more about ConsERV please visit www.conserv.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 the future sales volume are forward looking and subject to risks.  A number of 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, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Media Relations:

Judy Norstrud
Dais Analytic Corporation
Phone: 727-375-8484 x 224
Email: [email protected]     

SOURCE Dais Analytic Corporation