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ParkerVision Reports Second Quarter And Six-Month 2013 Results

Stocks in this article: PRKR

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

  • Filed motion for summary judgment on no invalidity and filed rebuttals to Qualcomm's motion for partial summary judgment in patent litigation case that is scheduled for trial beginning October 7, 2013 in Orlando, Florida.
  • Continued collaboration with baseband partner and Asia-based mobile handset manufacturer on RF chipset solution.
  • Expanded product portfolio with introduction of three new RFIC products.
  • Ranked by The Patent Board® among the top 20 companies in the telecom and communications industry in the July 2013 Patent Scorecard analysis.
  • Awarded 7 new U.S. patents in the second quarter of 2013. As of June 30, 2013, the Company held 228 U.S. and foreign patents and had approximately 45 patent applications pending.
  • Completed the private placement of approximately 3.7 million shares of common stock at $3.80 per share, generating net proceeds of approximately $13.0 million.

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."

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