ParkerVision, Inc.
08.08.13

ParkerVision Reports Second Quarter and Six-Month 2013 Results

Management to Host Conference Call and Webcast Today at 4:30 p.m. ET

JACKSONVILLE, Fla., Aug. 8, 2013 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (Nasdaq:PRKR), a developer and marketer of semiconductor technology solutions for wireless applications, today announced results for the three and six month periods ended June 30, 2013.

Second Quarter 2013 Business Highlights and Recent Developments

Jeffrey Parker, Chairman and Chief Executive Officer, commented, "We continued to progress in our patent infringement litigation against Qualcomm in the first half of 2013, and feel strongly about the merits of our case as we move closer to the start of trial in October. The last of the pretrial motions and their rebuttals have been filed with the Court, and we await the rulings on these matters. Meanwhile, we continue working closely with our team of experts and litigators as we prepare to present our case to a jury.

"Although the Qualcomm litigation has consumed a meaningful amount of our time and resources, I am pleased to report that we have continued to advance several other key strategic growth initiatives. Our close collaboration with VIA-Telecom and a leading handset OEM on a 3G CDMA RF-baseband solution for use by the OEM is moving forward. The results of testing thus far have been encouraging. The chipset is significantly outperforming the technology that our solution aims to replace in reducing power consumption of the CDMA transmit function, while delivering CDMA compliant performance and reducing heat generation. In addition to the progress we are making in our chip commercialization efforts, we're also pleased with the work done by 3LP Advisors pursuing business opportunities for our patented wireless innovations and our growing intellectual property portfolio. Overall, we believe that the remainder of 2013 has the potential to be a period of significant success for ParkerVision and we look forward to sharing the details of these accomplishments as they occur."

Second Quarter 2013 Financial Results

Financial Results for the Six Months Ended June 30, 2013

Conference Call

The Company will host a conference call and webcast on August 8, 2013 at 4:30 p.m. Eastern to review its second 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 quarters ended March 31, 2013 and June 30, 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)
         
  Three Months Ended Six Months Ended
(in thousands, except per share amounts) June 30, June 30,
  2013 2012 2013 2012
Service revenue $ -- $ -- $ -- $ --
Cost of sales  --  --  --  --
 Gross margin  --  --  --  --
         
Research and development expenses  2,576   1,789   4,942   3,828 
Marketing and selling expenses  426   363   823   758 
General and administrative expenses  4,149   2,929   7,860   4,570 
 Total operating expenses  7,151   5,081   13,625   9,156 
         
Interest and other income and interest expense  24   20   36   27 
         
Net loss $(7,127) $(5,061) $(13,589) $(9,129)
         
Basic and diluted net loss per common share $(0.08) $(0.07) $(0.16) $(0.13)
         
Weighted average shares outstanding  88,437   74,582   85,906   71,094 
 
         
     
Balance Sheet Highlights 
     
Balance Sheet Highlights (in thousands)    
  June 30, 2013 December 31, 
  (unaudited) 2012
Cash and available for sale securities $13,657  $8,340 
Prepaid and other current assets  917   977 
Property and equipment, net  361   404 
Intangible assets, net  8,760   8,978 
Other assets  22   21 
Total assets  23,717   18,720 
     
Current liabilities  1,992   2,142 
Long term liabilities  26   58 
Shareholders' equity  21,699   16,520 
Total liabilities and shareholders' equity $23,717  $18,720 
     
CONTACT: Cindy Poehlman

         Chief Financial Officer

         ParkerVision, Inc.

         904-732-6100, cpoehlman@parkervision.com



         or



         Lee Roth

         Vice President

         The Piacente Group

         212-481-2050, parkervision@tpg-ir.com

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Source: ParkerVision, Inc.

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