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ParkerVision Reports Second Quarter And Six Month Results

Conference Call

ParkerVision will host a live conference call on Wednesday, August 15, 2012 at 9:00 a.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)

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, 2011 and the Forms 10Q for the quarters ended March 31 and June 30, 2012. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.

ParkerVision, Inc.
Summary of Results of Operations (in thousands except for per share amounts)
Unaudited
 
  Three months ended June 30, Six months ended June 30,
  2012 2011 2012 2011
         
Service revenue $  -- $   -- $    -- $    --
Cost of goods sold -- -- -- --
Gross margin -- -- -- --
         
Research and development 1,789 2,186 3,828 4,124
Marketing and selling 363 338 758 680
General and administrative 2,929 1,046 4,570 2,154
Total operating expense 5,081 3,570 9,156 6,958
         
Interest and other income 20 33 27 51
         
Net loss $ (5,061) $ (3,537) $ (9,129) $ (6,907)
         
Basic and diluted loss per common share $ (0.07) $ (0.06) $ (0.13) $ (0.12)
         
Weighted average shares outstanding 74,582 59,054 71,094 55,993
  Balance Sheet Highlights (in thousands)     June 30, 2012 (unaudited)     December 31, 2011
Cash and available for sale securities $ 6,881 $ 5,240
Prepaid and other current assets 651 662
Property and equipment, net 423 351
Intangible assets, net 9,027 9,004
Other assets 473 585
 Total assets $ 17,455 $ 15,842
     
Current liabilities $ 1,419 $ 1,363
Long term liabilities 139 138
Shareholders' equity 15,897 14,341
 Total liabilities and shareholders' equity $ 17,455 $ 15,842
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

Stock quotes in this article: PRKR 

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