ParkerVision, Inc.
05.09.13

ParkerVision Reports First Quarter 2013 Results

Management to Host Conference Call and Webcast Today at 4:30 PM

JACKSONVILLE, Fla., May 9, 2013 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (Nasdaq:PRKR), a developer and marketer of semiconductor technology solutions for wireless applications, today announced results for the three months ended March 31, 2013.

First Quarter 2013 Business Highlights and Recent Developments

Jeffrey Parker, Chairman and Chief Executive Officer, commented, "In the first few months of 2013, we continued to advance our chip development program and are currently working closely with our baseband partner to showcase a complete RF and baseband chipset solution that meets the requirements of our mutual OEM customer. In addition, we are continuing to explore potential business opportunities for our growing innovations and related patent portfolio.

"We also continued to make significant progress in our patent infringement litigation against Qualcomm. Our team of litigators and experts have reviewed and assessed all of the prior art claims put forth by Qualcomm in support of their invalidity arguments. We remain confident that none of the prior art cited by Qualcomm contemplates our invention and look forward to proving this in court," said Mr. Parker

First Quarter 2013 Financial Results

The increase in net loss for the three months ended March 31, 2013, when compared to the same period in 2012, was primarily the result of a $0.9 million increase in legal fees, primarily related to litigation, and a $1.4 million increase in non-cash share-based compensation expense.

Conference Call

The Company will host a conference call and webcast on Thursday, May 9, 2013 at 4:30 p.m. Eastern to review its first quarter 2013 financial results. The conference call will be accessible by telephone at 1-877-561-2750, at least five minutes before the scheduled start time. International callers should dial 763-416-8565. The conference call may also be accessed by means of a live webcast on our website at http://ir.parkervision.com/events.cfm. The conference call will also be archived and available for replay on our website at www.parkervision.com for a period of 90 days.

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)

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, 2012 and the Form 10Q for the quarter ended March 31, 2013. 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 (unaudited)
 
(in thousands, except per share amounts) Three Months Ended
March 31,
  2013 2012
Service revenue  $ --  $ --
Cost of sales  --  --
Gross margin  --  --
     
Research and development expenses 2,365 2,039
Marketing and selling expenses 397 395
General and administrative expenses 3,712 1,641
Total operating expenses 6,474 4,075
     
Interest and other income and interest expense 12 7
     
Net loss $ (6,462) $ (4,068)
     
Basic and diluted net loss per common share  $ (0.08)  $ (0.06)
     
Weighted average shares outstanding 83,347 67,607
 
   
   
Balance Sheet Highlights
     
Balance Sheet Highlights (in thousands    
  March 31,
2013
(unaudited)
December 31,
2012
Cash and available for sale securities $ 17,835 $ 8,340
Prepaid and other current assets 1,207 977
Property and equipment, net 380 404
Intangible assets, net 8,885 8,978
Other assets 21 21
Total assets $ 28,328 $ 18,720
     
Current liabilities $ 1,954 $ 2,142
Long term liabilities 37 58
Shareholders' equity 26,337 16,520
Total liabilities and shareholders' equity $  28,328 $ 18,720
CONTACT: Cindy Poehlman

         Chief Financial Officer

         ParkerVision, Inc.

         904-732-6100, cpoehlman@parkervision.com



         or



         Ron Stabiner

         Vice President

         The Wall Street Group, Inc.

         212-888-4848, rstabiner@thewallstreetgroup.com

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Source: ParkerVision, Inc.

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