iQ Power AG reported unaudited consolidated earnings results for the nine months ended September 30, 2014. For the period, the company reported revenues of EUR 761,000 compared to EUR 12,000 a year ago. The increase was due to the start of sales of the strategic licensee, Discover Energy and the conclusion of the license contract with the Brazilian licensee including an upfront royalty payment. The net revenues are a combination of sales from plastic parts and license income. Loss before income tax was EUR 348,000 compared to EUR 1,153,000 a year ago. Total loss after tax was EUR 356,000 compared to EUR 1,153,000 a year ago. The reduction in losses is due to the increased license revenues as the expenses of the company remained constant at EUR 1.1 million for the 9 months compared to the same period in 2013. Loss attributable to owners of the parent was 356,000 compared to EUR 1,153,000 a year ago. Net cash used in operating activities was EUR 944,000 compared to EUR 1,212,000 a year ago. Investments in property, plant and equipment was EUR 121,000 compared to EUR 71,000 a year ago. Free cash flow was EUR 1,064,000 compared to EUR 1,631,000 a year ago.

The company anticipates a reduced income in the fourth quarter of 2014 but thereafter a continual and steady increase in revenues in the second half of 2014.

For the year 2014, given the lean cost structure and the good results from the first nine months, the company anticipates a sign improvement in all financials for 2014 compared to 2013.