ParkerVision, Inc.
11.12.13

ParkerVision Reports Third Quarter and Nine-Month 2013 Results

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

JACKSONVILLE, Fla., Nov. 12, 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 nine month periods ended September 30, 2013.

Third Quarter 2013 Business Highlights and Recent Developments

  • Jury determined that Qualcomm infringed all 11 claims of all four asserted patents and for all accused Qualcomm products.
     
  • Jury further determined that all 11 claims were valid.
     
  • Damages are for infringing products shipped in the U.S. only.
     
  • Request for post-verdict relief from Qualcomm's continued infringement is expected to be filed with the Court by early December.
  • Worldwide patent portfolio has increased in 2013 by 12% to 236 total issued patents.

Jeffrey Parker, Chairman and Chief Executive Officer, commented, "We are pleased with the jury verdict in our patent infringement litigation against Qualcomm. We are also looking forward to a final judgment from the Federal District court in Orlando on post-trial matters, including our request for ongoing relief from Qualcomm's continued infringement of our patents. This win provides an important leverage point for the Company as we actively pursue opportunities for our technologies, both in potential licensing and product development activities. Our financial position is solid and provides us the necessary capital to pursue the next steps for our Company."

Third Quarter 2013 Financial Results

Year to Date 2013 Financial Results

Conference Call

The Company will host a conference call and webcast on November 12, 2013 at 4:30 p.m. Eastern to review its third 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 webcast 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, June 30, 2013 and September 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)
         
         
(in thousands, except per share amounts) Three Months Ended
September 30,
Nine Months Ended
September 30,
  2013 2012 2013 2012
Service revenue  $ -  $ -  $ -  $ -
Cost of sales  -  -  -  -
 Gross margin  -  -  -  -
         
Research and development expenses  2,512   2,131   7,453   5,959 
Marketing and selling expenses  436   418   1,259   1,176 
General and administrative expenses  3,495   2,480   11,355   7,050 
 Total operating expenses  6,443   5,029   20,067   14,185 
         
Interest and other income and interest expense  19   10   54   37 
         
Net loss  $ (6,424)  $ (5,019)  $ (20,013)  $ (14,148)
         
Basic and diluted net loss per common share  $ (0.07)  $ (0.06)  $ (0.23)  $ (0.19)
         
Weighted average shares outstanding  90,961   78,814   87,609   73,687 
         
Balance Sheet Highlights
Balance Sheet Highlights (in thousands)
  September 30, 2013
(unaudited)
December 31,
2012
Cash and available for sale securities  $ 23,077    $ 8,340  
Prepaid and other current assets  691   977 
Property and equipment, net  341   404 
Intangible assets, net  8,674   8,978 
Other assets  23   21 
Total assets  32,806   18,720 
     
Current liabilities  2,946   2,142 
Long term liabilities  14   58 
Shareholders' equity  29,846   16,520 
Total liabilities and shareholders' equity  $ 32,806    $ 18,720  
CONTACT: Cindy Poehlman

         Chief Financial Officer

         ParkerVision, Inc.

         904-732-6100, cpoehlman@parkervision.com



         or



         MaryBeth Csaby

         Vice President

         The Piacente Group

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

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Source: ParkerVision, Inc.

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