Liquidmetal Technologies Inc (OTCMKTS:LQMT) reported that it received an a new prototype order from a new client in this week. Tom Steipp, the CEO and President said that it is the third order for the company’s manufacturing center of excellence and highlights strong progress towards the development of unique Liquidmetal technology. The order validates the manufacturing sales representative strategy.
The expert speaks
Paul Hauck, the VP of Sales and Marketing, stated that he is excited with the new order as it highlights the effectives of the marketing and sales strategy, which Liquidmetal Technologies have been introducing during the past one year. He complimented the entire organization for performing an excellent job working on the planned strategy and stimulating client interest in a exclusive client market filled with potential applications.
The performance
Liquidmetal Technologies Inc (OTCMKTS:LQMT) reported revenue of $39,000 in 2Q2015 as the company continued to focus on the advancement of commercial and prototype components for its clients. Also, the measures were takes to partner with licenses on the advancement of the company’s production and technology processes.
The financials
IN 2Q2015, the Selling, general and administrative expenses came at $1.9 million against $2.0 million in 2Q2014. The R&D expense came at $455,000 compared to $392,000 in 2Q2014. The cash reserves amounted to $7.3 million as of June 30, 2015, against $10 million at end of December 31, 2014. In the second quarter, Liquidmetal Technologies completed first shipment of custom Liquidmetal Hybrid Knives. It also received order for its first prototype component for a European client.
The excellent progress
The CEO said that 2Q2015 demonstrates excellent progress as the company continues to witness success in marketing and sales measures. The processes and team that they have in place contributed in more than a 280% increase in QOQ requests for quotation. The company continued to avail the advantages of global associations by participating in the Engel Symposium.
In last trading session, the stock price of Liquidmetal gained 0.30% to close the trading session at $1354. The gains came at a share volume of 7.2 million compared to monthly average share volume of 1.3 million.
