ParkerVision, Inc.
11.14.11

ParkerVision Reports Third Quarter and Nine Month Results

Conference Call at 4:30 p.m. E.S.T.

JACKSONVILLE, Fla., Nov. 14, 2011 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (Nasdaq:PRKR), a developer and marketer of semiconductor technology solutions for wireless applications, today reported reduced losses for the third quarter and nine months ended September 30, 2011, as compared to the same periods in 2010.

For the third quarter ended September 30, 2011, the Company reported a net loss of $3.8 million, or $0.06 per share, compared to a net loss of $4.0 million, or $0.10 per share, for the same period in 2010. For the nine month period ended September 30, 2011, the Company reported a net loss of $10.7 million, or $0.19 per share, compared to a net loss of $11.7 million, or $0.28 per share, for the same period in 2010. The decrease in net loss is a direct result of reductions in operating expenses, particularly share-based compensation expense for the periods.

As of September 30, 2011, the Company had $8.8 million in cash, cash equivalents and available for sale securities following the September 14, 2011 sale of approximately $6.5 million in equity securities to two institutional investors. ParkerVision used approximately $7.9 million in cash for operations and invested $0.6 million in patents and other long-term assets in the nine month period ended September 30, 2011.

Chairman and Chief Executive Officer, Jeffrey Parker, commented, "We recently engaged McKool Smith as lead counsel in our patent litigation against Qualcomm Incorporated. We are particularly impressed by McKool Smith's extensive experience in significant patent infringement cases, and their depth of understanding of our patent claims and the merits of our case. We believe McKool Smith's experience will help ParkerVision achieve the best possible outcome." Mr. Parker added, "Our sales and product development teams continue to make progress with VIA-Telecom and one of their larger OEM customers on the completion and testing of a handset design for use in mobile phones that will incorporate our RF transmit chipsets and the benefits they enable."

Conference Call

ParkerVision will host a live conference call on Monday, November 14, 2011 at 4:30 p.m. Eastern time to review its financial results. To participate, dial 1-877-561-2750, approximately five minutes before the conference is scheduled to begin. International callers should dial +763-416-8565. The conference may also be accessed by means of a live audio webcast on the Company's website at www.parkervision.com. The conference webcast will be archived and available for replay for 90 days from the date of broadcast.

About ParkerVision

ParkerVision, Inc. designs, develops and markets its proprietary RF technologies which enable advanced wireless communications for current and next generation mobile communications networks. Its solutions for wireless transfer of radio frequency (RF) waveforms enable significant advancements in wireless products, addressing the needs of the cellular industry for efficient use of power, reduced cost and size, greater design simplicity and enhanced performance in mobile handsets as the industry migrates to next generation networks. ParkerVision is headquartered in Jacksonville, Florida. For more information please visit www.parkervision.com. (PRKR-I)

The ParkerVision, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7219

Safe Harbor Statement

This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10K for the year ended December 31, 2010 and the Forms 10Q for the quarters ended March 31, June 30, and September 30, 2011. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.

(TABLES FOLLOW)

         
         
ParkerVision, Inc.
Summary of Results of Operations (in thousands except for per share amounts)
Unaudited
         
         
  Three months ended
September 30,
Nine months ended
September 30,
  2011 2010 2011 2010
         
Service revenue $ -- $ -- $ -- $64
Cost of goods sold -- -- -- 47
 Gross margin -- -- -- 17
         
Research and development  2,239 2,416 6,363 6,883
Marketing and selling  338 425 1,018 1,328
General and administrative  1,196 1,157 3,350 3,570
 Total operating expense 3,773 3,998 10,731 11,781
         
Interest and other income 19 22 70 47
         
Net loss  $ (3,754)  $ (3,976)  $ (10,661)  $ (11,717)
         
Basic and diluted loss per common share  $ (0.06)  $ (0.10)  $ (0.19)  $ (0.28)
         
Weighted average shares outstanding 60,681 41,275 57,572 41,223
 
     
Balance Sheet Highlights (in thousands)    
     
  September 30,
2011
(unaudited)
December 31,
2010
 
Cash and available for sale securities $8,837 $6,530
Prepaid and other current assets 362 554
Property and equipment, net 373 537
Intangible assets, net 9,134 9,408
Other assets 578 567
Total assets $19,284 $17,596
     
Current liabilities $1,372 $949
Long term liabilities 65 55
Shareholders' equity 17,847 16,592
Total liabilities and shareholders' equity $19,284 $17,596
 
CONTACT: Cindy Poehlman

         Chief Financial Officer

         ParkerVision, Inc.

         904-732-6100, cpoehlman@parkervision.com



         Ron Stabiner

         Vice President

         The Wall Street Group, Inc.

         212-888-4848, rstabiner@thewallstreetgroup.com

ParkerVision, Inc. Logo

Source: ParkerVision, Inc.

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