Press Release
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Overall Gross Margins was 40% in the First Quarter versus 17% in the
Fourth Quarter of 2008. Selling, General & Administrative Expenses came
in at
Commenting on the operations, Mr.
“In addition, the Company was finally able to complete the restructuring
of the
“We were able to accomplish a great deal in the first quarter and are optimistic that our business is poised well given the current economic environment and the prospects for recovery late this year.”
Conference Call
As previously announced,
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
| Liquidmetal Technologies, Inc. | ||||||||
| Consolidated Statements of Operations Data | ||||||||
| (In thousands, except per share data) | ||||||||
| For the three months ended | ||||||||
| 3/31/2009 | 3/31/2008 | |||||||
| (Unaudited) | ||||||||
| Revenue | $ | 3,592 | $ | 6,768 | ||||
| Cost of sales | 2,141 | 4,901 | ||||||
| Gross profit | 1,451 | 1,867 | ||||||
| Operating expenses | ||||||||
| Selling, general and administrative expenses | 1,588 | 1,875 | ||||||
| Research and development expenses | 247 | 258 | ||||||
|
Total operating expenses |
1,835 | 2,133 | ||||||
| Loss before interest and other income | (384 | ) | (266 | ) | ||||
| Change in value of warrants, (loss) gain | (126 | ) | 106 | |||||
| Change in value of conversion feature, gain | 30 | 222 | ||||||
| Other expense | - | (17 | ) | |||||
| Interest expense | (2,290 | ) | (1,703 | ) | ||||
| Interest income | - | 2 | ||||||
| Net loss | (2,770 | ) | (1,656 | ) | ||||
| Net income attributable to noncontrolling interest | (31 | ) | (160 | ) | ||||
| Net loss attributable to Liquidmetal Technologies, Inc. | $ | (2,801 | ) | $ | (1,816 | ) | ||
| Net loss per share - basic and diluted: | ||||||||
| Net loss attributable to Liquidmetal Technologies, Inc. | $ | (0.06 | ) | $ | (0.04 | ) | ||
| Weighted average common shares - basic and diluted | 44,825 | 44,726 | ||||||
Source:
Liquidmetal Technologies
Otis Buchanan, 949-635-2120
otis.buchanan@liquidmetal.com