Liquidmetal Technologies reports Q112 revenue of $0.2 million

Liquidmetal Technologies Inc. (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.

Tom Steipp, President and CEO, said in the press release, “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.”

Source: Liquidmetal Technologies Inc.

MacDailyNews Note: From Liquidmetal’s Form 10-Q posted today, May 15, 2012:

On August 5, 2010, the Company entered into a license transaction with Apple Inc. (“Apple”) pursuant to which (i) the Company contributed substantially all of its intellectual property assets to a newly organized special-purpose, wholly-owned subsidiary, called Crucible Intellectual Property, LLC (“CIP”), (ii) CIP granted to Apple a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in the field of consumer electronic products, as defined in the license agreement, in exchange for a license fee, and (iii) CIP granted back to the Company a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in all other fields of use. Additionally, in connection with the license transaction, Apple required the Company to complete a statement of work related to the exchange of Liquidmetal intellectual property information. The Company recognized a portion of the one-time license fee upon receipt of the initial payment and completion of the foregoing requirements under the license transaction. The remaining portion of the one-time license fee was recognized at the completion of the required statement of work.

Under the agreements relating to the license transaction with Apple, the Company was obligated to contribute all intellectual property that it developed through February 2012 to CIP. In addition, the Company is obligated to refrain from encumbering any assets subject to the Apple security interest through August 2012 and is obligated to refrain from granting any security in its interest in CIP at any time. The Company is also obligated to maintain certain limited liability company formalities with respect to CIP at all times after the closing of the license transaction. If the Company is unable to comply with these obligations, Apple may be entitled to foreclose on such assets. The Company is in compliance with these obligations as of March 31, 2012.

Related articles:
Apple’s forthcoming Macbook Pro 2012 models could be made with Liquidmetal – May 14, 2012
Apple and Liquidmetal: Don’t go by co-inventor’s word, he hasn’t worked for Liquidmetal since 2007 – May 6, 2012
Liquidmetal inventor: Apple will use it in a ‘breakthrough product’ that will be very difficult to copy – May 2, 2012
Whoa! This Liquidmetal iPhone 5 concept looks real – May 2, 2012
Check out these ultra-thin next-gen Liquidmetal iPhone artist’s concept images – May 1, 2012
Is Apple Inc.’s bet on Liquidmetal about to pay off? – April 30, 2012
RUMOR: New MacBooks to be built with Liquidmetal; MacBook Pro and Air lines to merge – April 26, 2012
RUMOR: Apple’s new MacBook Pro, Air to be made of Liquidmetal – April 24, 2012
A Liquidmetal iPhone 5: What’s in it for You – April 23, 2012
Apple’s next-gen iPhone may be baptized in Liquidmetal – April 20, 2012
Ceramics, Liquidmetal and Magic Glass, what could Apple’s iPhone 5 tempt us with next? – April 20, 2012
Apple’s iPhone 5 made of metallic glass reportedly arrives this October – April 20, 2012
Apple’s next-gen iPhone: Thinner, lighter, faster – and poured? – April 19, 2012
How Liquidmetal could give the next iPhone its special swagger – April 19, 2012
Apple’s next-gen iPhone main body to shift from Gorilla Glass to Liquidmetal, say industry sources – April 18, 2012
Liquidmetal Technologies filing outlines its multimillion dollar agreement with Apple – March 31, 2012
Apple granted its first Liquidmetal patent – January 5, 2011
Apple patent application describes scratch-resistant stainless steel – October 29, 2010
Join the dots on six future Apple technologies – September 22, 2010
Apple already using Liquidmetal in their… – August 17, 2010
Inventor says Liquidmetal may be used for new iPhone antenna – August 13, 2010
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How will Apple use their exclusive Liquidmetal alloy? – August 12, 2010
Apple’s exclusive Liquidmetal pact could see future Apple products encased in metallic glass – August 11, 2010
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23 Comments

    1. If you don’t understand the company and what’s going on, why comment?

      Better to remain silent and be thought a fool than to speak out and remove all doubt. – Proverbs 17:28

  1. Perhaps… Revenues (royalties) don’t kick in until Apple starts selling the new products for which they bought a perpetual license.

    Just sayin.

  2. …granted to Apple a FULLY-PAID license… Company recognized (past-tense) a PORTION of the one-time license fee with Apple’s initial payment… and the REMAINING PORTION of the one-time license fee was recognized (past-tense) at completion of the SOW. LiquidMetal has booked all of the license fee income it is going to book from Apple, and the perpetual IP license to Apple is tucked away where a bankruptcy or restructure cannot touch it

  3. If LQMT is getting any additional money from Apple it is not going to show up until the last quarter this year, first quarter next year. if Apple is using Liquid Metal you hear about from until Tim Cook says so on stage.

  4. If LQMT is getting any additional money from Apple it is not going to show up until the last quarter this year, first quarter next year. if Apple is using Liquid Metal you won’t hear about it until Tim Cook says so on stage.

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