Liquidmetal ® Technologies Inc. (OTCBB: LQMT ) today announced its financial results for the three months ended March 31, 2012. The Company reported revenues of $0.2 million and closed out the first quarter with an operating loss of $1.0 million.

Mr. Tom Steipp, President and CEO, commented, “We are excited about the progress of the program as customers test and evaluate the commercial parts that we shipped to them last quarter. We understand that this is a detailed process as they look to replace complex machined parts. We look forward to having them move into full production in the coming months.”

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.
     
 

Exhibit I
 
 

 

For the Three Months Ended March 31,

2012
   

2011

(unaudited)
Revenue
Products $ 183 $ 123
Licensing and royalties   13     381  

Total revenue
196 504
 
Cost of sales   81     106  
Gross profit 115 398
 
Operating expenses
Selling, marketing, general and administrative 959 1,026
Research and development   188     324  
Total operating expenses   1,147     1,350  
Operating loss from continuing operations (1,032 ) (952 )
 
Change in value of warrants, loss - (11 )
Other income - 5
Interest expense (39 ) (15 )
Interest income   4     8  
 
Loss from continuing operations before income taxes (1,067 ) (965 )
 
Income taxes   -     -  
 
Loss from continuing operations (1,067 ) (965 )
 
Discontinued operations:
Loss from operations of discontinued operations, net of taxes   -     (429 )
 
Net loss (1,067 ) (1,394 )
 
Other comprehensive income:
Foreign exchange translation gain during the period   -     55  
Comprehensive loss $ (1,067 ) $ (1,339 )
 
Per common share basic and diluted:
 
Loss from continuing operations $ (0.01 ) $ (0.01 )
Loss from discontinued operations   -     -  
Basic and diluted loss per share $ (0.01 ) $ (0.01 )
 
Number of weighted average shares - basic and diluted   153,707,246     93,695,377  
 

Copyright Business Wire 2010