Liquidmetal ® Technologies Inc. (OTCBB: LQMT ) today reported its financial results for the three months and year ended December 31, 2010. The Company reported revenues of $11.1 million and $33.0 million for the fourth quarter and fiscal year ending December 31, 2010, respectively. Furthermore, the Company closed out the quarter and year end with operating income of $4.8 million and $15.7 million, respectively.

Mr. Tom Steipp, President and CEO, commented, “We are pleased with the results of the year and progress made to date in leveraging a growing number of marquee partnerships into a sustainable business model. The most recent announcement on March 10, 2011 with Swatch is just another indicator of the significant interest that we are seeing in the market for Liquidmetal technology.”

This press release may contain “forward-looking statements” that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," “intend,” “may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer’s products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
 
Liquidmetal Technologies, Inc.
Consolidated Statements of Operations Data
(In thousands, except per share data)
    For the three months ended     For the twelve months ended
  12/31/2010         12/31/2009     12/31/2010         12/31/2009  
 
Revenue $ 11,079 $ 6,328 $ 33,292 $ 16,945
Cost of sales   2,831     2,152     8,207     9,097  
Gross profit 8,248 4,176 25,085 7,848
 
Operating expenses
Selling, general and administrative expenses 2,049 2,454 7,137 6,740
Research and development expenses 468 276 1,272 1,173
Impairment of long-lived assets   966     1,381     966     1,381  
Total operating expenses   3,483     4,111     9,375     9,294  
 
Income (loss) from operations 4,765 65 15,710 (1,446 )
Loss from extinguishment of debt - - - (1,471 )
Change in value of warrants, (loss) gain 13,967 1,697 (10,394 ) 9,835
Change in value of conversion feature, gain - 393 444 1,827
Other income - - 70 -
Other expense (11 ) (308 ) - (308 )

Interest income
6 - 6
Interest expense   (327 )   (1,102 )   (5,380 )   (5,862 )
Net (loss) income before income taxes, noncontrolling interest and

discontinued operations
18,400 745 456 2,575
Income taxes   -     (48 )   -     (168 )
Net (loss) income before noncontrolling interest and discontinued operations 18,400 697 456 2,407
Net loss attributable to noncontrolling interest   326     10     576     69  
Net (loss) income before discontinued operations 18,726 707 1,032 2,476
Net loss attributable to discontinued operations   (2,928 )   (2,928 )   (2,928 )   (2,225 )
 
Net (loss) income attributable to Liquidmetal Technologies, Inc. $ 15,798   $ (2,221 ) $ (1,896 )   $ 251  
 
Net (loss) income per share - basic and diluted:
Net (loss) income attributable to Liquidmetal Technologies, Inc. - basic $ 0.17   $ (0.05 ) $ (0.03 ) $ 0.01  
Net (loss) income attributable to Liquidmetal Technologies, Inc. - diluted $ 0.08   $ (0.05 ) $ (0.03 ) $ 0.00  
 
 
Weighted average common shares - basic   90,781     47,507     64,965     46,084  
Weighted average common shares - diluted   196,752     47,507     64,965     214,429  

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