Dais Announces Fourth Quarter and Fiscal 2018 Year-End Financial Results: Reports Continued Revenue Growth
ODESSA, FL, April 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Dais Corporation (“Dais” or the “Company”) (OTCQB: ), an innovative, commercial, nanotechnology materials business selling industry-changing nanomaterial technology into the worldwide water, air and energy markets, today announced its results of operations for the quarter and year ended December 31, 2018. The Company saw an increase in revenue and gross profit for the fifth consecutive quarter, which it attributes to technology improvements, product cost reductions and continued attention to operations and customer service.
Key financial performance from operations for the fourth quarter and 2018 year-end include:
- Net revenue for the quarter ended December 31, 2018 was $465,415, versus $133,848 for the same period in 2017 (approximately 250% more). Net revenue for the year ended December 31, 2018 was $1,381,251 compared to $382,934 in 2017 (factor of 3.6 more).
- Gross Margin for the quarter ended December 31, 2018 was $151,184 versus $29,077 for the same period in 2017 (approximately 420% more). Gross Margin for the year ended December 31, 2018 was $459,857 compared to $70,387 in 2017 (factor of 6.5 more).
- Operating expenses for the quarter ended December 31, 2018 was $425,923, down from $1,054,941 during the same period in 2017 (a reduction of approximately 60%). Expenses for the year ended December 31, 2018 were $2,115,448, compared to $2,525,499 for 2017 (a reduction of approximately 16%).
- Loss from operations for the quarter ended December 31, 2018 was $274,779, versus $1,025,864 for the same period in 2017 (a reduction of approximately 73%). Loss from operations for the year ended December 31, 2018 was $1,655,631, compared to $2,455,112 for 2017 (a reduction of approximately 32%).
The revenue increases for the year ended December 31, 2018 were driven by sales of our patented Aqualyte™ membrane for food preservation applications in refrigerators as evidenced by the Haier Group contract as well as from growth of membrane sales in energy recovery ventilator, ConsERV™ product and NanoClear™ water cleaning products.
“As we closed 2018 and are now through the full first quarter of 2019, we see continued traction in the nanomaterial product, and our energy recovery ventilator (ERV) product. We expect to make new strategic partnership announcements in 2019 as we seek to drive continued growth in food preservation, HVAC, energy efficiency, and water treatment industries. Our priority and focus remain on building a profitable nanotechnology material-based platform business,” said Tim Tangredi, President and Chief Executive Officer of Dais. “We continue to successfully innovate and enhance the performance and functionality while building strong supply chain relationships for our Aqualyte membrane, ConsERV core and NanoClear module products. This allows us to build a loyal customer base and cement our leadership position in these markets.”
Dais future revenue growth for 2019 is expected to be driven by:
- Aqualyte nanomaterial sales through existing and new commercial partnerships;
- NanoClear sales with 33 pilots currently installed;
- ConsERV sales in North America, and through our partnership with Zhejiang Menred Environmental Tech Co., Ltd, (“Menred Group”); and
- Qualifying strategic OEM relationships designed to ‘kick off’ the 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-based products.
About Dais Corporation
Dais Corporation (OTCQB: ) 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.
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 .
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.
Contact:
Dais Corporation
11552 Prosperous Drive
Odessa, Florida 33556
Phone: 727 375 8484
