Liquidmetal Technologies reports fiscal results for its third quarter 2018
November 7, 2018
Liquidmetal® Technologies, Inc., Lake Forest, California, USA, a developer of amorphous alloys and composites, has reported fiscal results for its third quarter 2018, ended September 30. For Q3 2018, the company generated $253,000 in revenue through completion of the production tooling portion of commercial orders for both its AMM and MIM platforms. During this quarter, it also finished validation procedures for its first eight-cavity mould.
R&D costs increased to $601,000 for Q3 2018, compared to $500,000 in Q3 2017. This increase was said to be due primarily to increases in internal projects related to alloy and moulding machine development. Cash and restricted cash was reported at $36.4 million on September 30, 2018, as compared to $41.3 million on December 31, 2017.
Dr Bruce Bromage, Liquidmetal’s Chief Operating Officer, stated, “The third quarter of 2018 showed the company’s continued execution of our commercialisation strategy. Early production orders shipped during the quarter for Amorphous Metal Molding and Metal Injection Molding customers. In addition, the company has active development projects with top-tier medical, automotive and consumer products companies, each with potential for volume, multi-year production.”
“Several projects are underway in collaboration with Yihao Metals, taking advantage of Liquidmetal’s amorphous metals expertise and proximity to US customers to develop parts that can be produced in high volumes in Asia,” he continued. “Liquidmetal and Yihao are working together to improve the cost of commercial AMM machines, alloys and processing methods to open markets globally.”