Liquidmetal Technologies Inc. (OTC: LQMT), a Rancho Santa Margarita, California-based company engaged in the development, manufacturing and marketing of products made from amorphous alloys, has seen a sharp rise in its shares in the last three trading sessions.
On Monday, LQMT shares rose 37.8% to finish the day at $0.565 on above average volume. The stock is up more than 125% in the last three trading sessions.
So what is driving LQMT shares higher? Although the company has not made any major announcement in the last few days, late last month it released its fourth-quarter and full-year 2011 financial results.
For the fourth quarter, Liquidmetal Technologies reported revenue of $0.25 million, while for the full year, the company’s revenue was $1 million. Operating loss for the fourth quarter was $1.7 million. For the full year, LQMT reported an operating loss of $6.5 million.
Tom Steipp, President and CEO of Liquidmetal Technologies, believes that LQMT has reached an important milestone enabling the company to realize the benefits of its partner relationships. Steipp said that looking forward, LQMT will be working with its partners to scale up production capabilities while engaging with customers in aerospace, medical, sporting goods and other industries.
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