Liquidmetal ® Technologies Inc. (OTCBB: LQMT ) today announced its financial results for the three months ended June 30th 2012. The Company reported revenues of $0.2 million and closed out the second quarter with an operating loss of $7.4 million which included a one-time, non-cash expense of $6.3 million of manufacturing contract costs.

Mr. Tom Steipp, President and CEO, commented, “Second Quarter 2012 represents a significant milestone in our march to commercialize Liquidmetal alloys. Our technology is stable and we have begun to deliver prototype parts. Our partners, Materion for alloy supply and Visser Precision Cast for manufacturing, are solidly in place. Now with the capital raise behind us, we are in a position to accelerate sales and marketing initiatives which will begin to expand the beachheads that we made with early customers in a variety of application segments.”

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
 
Liquidmetal Technologies
Statement of Income
 
For the Three Months Ended June 30, For the Six Months Ended June 30,
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
  2012     2011     2012     2011  
(Restated) (Restated)
Revenue
Products $ 208 $ 110 $ 391 $ 234
Licensing and royalties   6     -     19     381  
Total revenue 214 110 410 615
 
Cost of sales   102     63     184     170  
Gross profit 112 47 226 445
 
Operating expenses
Selling, marketing, general and administrative 1,007 838 1,964 1,864
Research and development 211 288 399 612
Manufacturing contract costs 6,300 - 6,300 -
Settlement expense   -     585     -     585  
Total operating expenses   7,518     1,711     8,663     3,061  
Operating loss from continuing operations (7,406 ) (1,664 ) (8,437 ) (2,616 )
 
Change in value of warrants, gain (loss) (174 ) 596 (174 ) 584
Financing costs (1,355 ) - (1,355 ) -
Other income - 1 - 6
Interest expense 22 (16 ) (18 ) (31 )
Interest income   4     6     8     14  
 
Loss from continuing operations before income taxes (8,909 ) (1,077 ) (9,976 ) (2,043 )
 
Income taxes   -     -     -     -  
 
Loss from continuing operations (8,909 ) (1,077 ) (9,976 ) (2,043 )
 
Discontinued operations:
Loss from operations of discontinued operations, net of taxes   -     (112 )   -     (541 )
 
Net loss (8,909 ) (1,189 ) (9,976 ) (2,584 )
 
Other comprehensive income:
Foreign exchange translation gain (loss) during the period   -     (19 )   -     36  
Comprehensive loss $ (8,909 ) $ (1,208 ) $ (9,976 ) $ (2,548 )
 
Per common share basic and diluted:
 
Loss from continuing operations $ (0.05 ) $ (0.01 ) $ (0.06 ) $ (0.02 )
Loss from discontinued operations   -     -     -     -  
Basic and diluted loss per share $ (0.05 ) $ (0.01 ) $ (0.06 ) $ (0.02 )
 
Number of weighted average shares - basic and diluted   171,651,573     116,353,279     162,679,410     105,024,328  

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