ParkerVision Reports Third Quarter and Nine-Month 2013 Results

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

  *Awarded $172.7 million in damages by an Orlando, Florida jury for
    Qualcomm's direct and indirect infringement of four ParkerVision patents.

    *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.

  *Introduced new RF component products targeted at commercial, industrial
    and military markets.
    
  *Awarded two new U.S. patents and a patent in four European countries
    during the third quarter of 2013.

    *Worldwide patent portfolio has increased in 2013 by 12% to 236 total
      issued patents.

  *Ended the third quarter with $23.1 million in cash and marketable
    securities.

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

  *Net loss in the third quarter of 2013 was $6.4 million, or $0.07 per
    common share, as compared to a net loss of $5.0 million, or $0.06 per
    common share, for the third quarter of 2012.
    
  *Cash used for operations in the third quarter of 2013 was approximately
    $3.9 million as compared to $2.9 million during the third quarter of
    2012.
    
  *The year-over-year increases in net loss and use of cash were both the
    result of a $1.1 million increase in fees and expenses related to our
    patent infringement litigation.

Year to Date 2013 Financial Results

  oNet loss for the nine months ended September 30, 2013 was $20.0 million,
    or $0.23 per common share, as compared to a net loss of $14.1 million, or
    $0.19 per common share, for first nine months of 2012. The year-over-year
    increase in net loss for the nine months ended September 30, 2013 was the
    result of a $2.4 million increase in fees and expenses related to our
    patent infringement litigation and a $2.7 million increase in non-cash
    share-based compensation expense.
    
  oCash used for operations in the first nine months of 2013 was
    approximately $13.0 million, as compared to $9.9 million during comparable
    period in 2012.The year-over-year increase in cash used is primarily a
    result of increased litigation fees and expenses.

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    Three Months Ended    Nine Months Ended
per share amounts)       September 30,         September 30,
                        2013       2012       2013        2012
Service revenue          $-       $-       $-        $-
Cost of sales            -         -         -          -
Gross margin            -         -         -          -
                                                       
Research and development 2,512    2,131    7,453     5,959
expenses
Marketing and selling    436      418      1,259     1,176
expenses
General and              3,495    2,480    11,355    7,050
administrative expenses
Total operating         6,443    5,029    20,067    14,185
expenses
                                                       
Interest and other
income and interest      19       10       54        37
expense
                                                       
Net loss                 $(6,424) $(5,019) $(20,013) $(14,148)
                                                       
Basic and diluted net    $(0.07)  $(0.06)  $(0.23)   $(0.19)
loss per common share
                                                       
Weighted average shares  90,961   78,814   87,609    73,687
outstanding
                                                                         

Balance Sheet Highlights
Balance Sheet Highlights (in thousands)
                                          September 30, 2013 December 31,
                                           (unaudited)        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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