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ParkerVision Reports Second Quarter And Six Month Results

JACKSONVILLE, Fla., Aug. 14, 2012 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (Nasdaq:PRKR), a developer and marketer of semiconductor technology solutions for wireless applications, today reported operating results for the second quarter and six months ended June 30, 2012, as compared to the same periods in 2011.

For the second quarter ended June 30, 2012, the Company reported a net loss of $5.1 million, or $0.07 per share, compared to a net loss of $3.5 million, or $0.06 per share, for the same period in 2011. For the six month period ended June 30, 2012, the Company reported a net loss of $9.1 million, or $0.13 per share, compared to a net loss of $6.9 million, or $0.12 per share, for the same period in 2011. The increase in net loss for the three and six month periods is primarily the result of litigation-related expenses and increases in non-cash share-based compensation.

For the first half of 2012, the Company received net proceeds of $8.3 million from an April 2012 sale of equity securities and $0.9 million in proceeds from the exercise of warrants and options. The Company used approximately $6.9 million in operating cash in the first half of 2012 and invested an additional $0.6 million in patents and fixed assets for the same period. ParkerVision ended the first half of 2012 with approximately $6.9 million in cash and available for sale securities.

Chairman and Chief Executive Officer, Jeffrey Parker, commented, "We remain firm in our belief that our intellectual property portfolio is key to current and future developments in wireless communications. We continue to invest in the development, commercialization and defense of our intellectual property as evidenced by the 13 new patents we have obtained thus far in 2012, our ongoing efforts with one of VIA Telecom's handset OEM customers to incorporate our technology into mobile handsets, and our infringement litigation against Qualcomm."

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