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ParkerVision Reports First Quarter 2013 Results

Stocks in this article: PRKR

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

  • Awarded four new U.S. and five new foreign patents in the first quarter of 2013. As of March 31, 2013, the Company held 220 total U.S. and foreign patents and had approximately 50 additional patent applications pending.  
  • Continued working in close collaboration with the Company's baseband partner under the terms of the new development agreement. The companies are currently working on the integration of a RF chipset solution into phone boards for an Asia-based mobile handset OEM.  
  • On February 20, 2013, the United States District Court for the Middle District of Florida issued its Markman order, or claim construction ruling, in ParkerVision's patent infringement litigation against Qualcomm. In this ruling, the court adopted more than 90% of ParkerVision's proposed definitions for disputed terms and adopted none of Qualcomm's proposed definitions.  
  • All of Qualcomm's counterclaims of patent unenforceability due to alleged inequitable conduct were dismissed by the court in a January 22, 2013 ruling, or dropped by Qualcomm in its amended response and counterclaim filed on April 11, 2013.

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. 

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