ParkerVision Reports Fourth Quarter and Full Year 2015 Results

03.30.16 - 4:00PM

Management to Host Conference Call and Webcast Today at 4:30 p.m. ET

JACKSONVILLE, Fla., March 30, 2016 -- ParkerVision, Inc. (NASDAQ:PRKR), a developer and marketer of semiconductor technology solutions for wireless applications, today announced results for the three-months and full-year ended December 31, 2015.

Fourth Quarter and 2015 Business Highlights and Recent Developments

Jeffrey Parker, Chairman and Chief Executive Officer, commented, "ParkerVision technology is designed into many of the best-selling wireless RF products shipping today. Our goal to achieve a successful international licensing program is supported by a strong portfolio of internally developed technologies and their associated worldwide patents, and further supported by the investigation instituted at the International Trade Commission (ITC) scheduled for trial in five months. Complementing this global licensing program in the near-term is the launch of a new end-user product that is built upon several of our RF technologies. We look forward to unveiling prototypes of this product in the second quarter, with production beginning in the second half of this year. We anticipate a wide range of licensees will benefit from the incorporation of our technologies into their products and also see great opportunity to target specific markets that are underserved by today's offerings."

Fourth Quarter and Full-Year 2015 Financial Results

Conference Call
The Company will host a conference call and webcast on March 30, 2016 at 4:30 p.m. Eastern to review its fourth quarter and full-year 2015 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 radio-frequency (RF) technologies that enable advanced wireless solutions for current and next generation communications networks. Protected by a highly-regarded, worldwide patent portfolio, the Company's solutions for wireless transfer of RF waveforms address the needs of a broad range of wirelessly connected devices for high levels of RF performance coupled with best-in-class power consumption. 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 10-K for the year ended December 31, 2015. 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)
Three Months Ended Year Ended
(in thousands, except per share amounts)December 31,December 31,
20152014 20152014
Revenue$5$0$11$0
Cost of sales(6)0(12)0
Gross margin(1)0(1)0
Research and development expenses 910 2,048 5,456 8,498
Marketing and selling expenses 274 694 1,459 2,867
General and administrative expenses 2,130 2,824 10,148 12,302
Total operating expenses 3,314 5,566 17,063 23,667
Interest and other income and interest expense (6) 19 (11) 98
Net loss$ (3,321)$ (5,547)$ (17,075)$ (23,569)
Basic and diluted net loss per common share*$ (0.33)$ (0.57)$ (1.74) $ (2.45)
Weighted average shares outstanding* 9,991 9,714 9,842 9,623
* Adjusted to reflect the impact of the 1:10 reverse stock split that became effective on March 30, 2016.

Balance Sheet Highlights
December 31,December 31,
20152014
Cash and available for sale securities$ 1,965$ 11,204
Prepaid and other assets 226 813
Inventories, net 161 66
Property and equipment, net 446 633
Intangible assets, net 7,575 8,003
Total assets10,37320,719
Current liabilities 4,038 1,965
Long-term liabilities 52 138
Shareholders' equity 6,283 18,616
Total liabilities and shareholders' equity $ 10,373$ 20,719


Contact:

Cindy Poehlman

Chief Financial Officer

ParkerVision, Inc.

904-732-6100, cpoehlman@parkervision.com

or

Don Markley

The Piacente Group

212-481-2050

parkervision@tpg-ir.com