Liquidmetal Technologies Post Fourth Quarter Financials

Sun. April 19, 2009; Posted: 11:26 PM

Apr 17, 2009 (Close-Up Media via COMTEX) -- LQMT | Quote | Chart | News | PowerRating -- Liquidmetal Technologies has reported financial results for the three months ended December 31st, 2008.

In a release dated April 15, the company noted that revenue for the Fourth Quarter was $4.6 million. This represents a 9 percent decrease from the $5.0 million in the Third Quarter of 2008.

The company also noted that overall Gross Margins was 17 percent in the Third Quarter versus 25 percent in the Third Quarter of 2008. Selling, General & Administrative Expenses came in at $1.9 million for the quarter, up from $1.4 million in the Third Quarter of 2008. Research & Development Expense was at $0.2 million in the Fourth Quarter, down from $0.3 million in the Third Quarter of 2008.

Larry Buffington, President and CEO, said, "The strategies we put into place in 2008 are allowing Liquidmetal Technologies to manage through the current challenging economic environment while continuing to push forward on the strategy of growing adoption of our technology. Although customer projects were impacted in the Fourth Quarter and into 2009, significant customer opportunities continue to exist in our key bulk alloys and coatings markets. Several important initiatives, including completion of our financial restructuring, commencement of mass production utilizing our next generation equipment, and more aggressive implementation of our licensing strategies, will allow us to continue to make strides in the adoption of our technology even during these challenging times."

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