ParkerVision (PRKR -3%) had a Q2 net loss of $5.8M, or $0.06/share. Opex totaled $5.9M (-18% Y/Y) - R&D spend fell 13% to $2.2M, and G&A spend 31% to $2.8M (lower legal expenses). (PR)
No revenue was recorded. ParkerVision ended Q2 with $21.8M in cash/investments, down from $25.3M at the end of Q1.
On the CC (transcript), CEO Jeffrey L. Parker said ParkerVision continues to "actively evaluate the best ways in which to support the funding" for its battle against Qualcomm, following June's adverse rulings. He adds ParkerVision has multiple options, including one that would lower its legal bill in exchange for "sharing a larger portion of any settlement or award."
An initial hearing for ParkerVision's appeal of the June rulings is expected "sometime early next year." In the meantime, the company claims it's seeing "good customer reception" for its new RF demodulator ICs, which are aimed in part at the mobile infrastructure market.
Shares are close to a 52-week low of $1.10, and down 75% YTD.
ParkerVision (PRKR) has cratered after receiving an unfavorable ruling from the Florida district court handling the company's original IP suit against Qualcomm.
In an official statement, ParkerVision confirms Qualcomm's motions for a JMOL and a new trial regarding non-infringement were granted, while adding its motions for a JMOL and new trial regarding patent invalidity were denied. All other motions were denied as moot.
ParkerVision: "While we are pleased that the court upheld the jury's decision that the patents are valid, we are obviously disappointed with the District Court's ruling that judgment be entered for Qualcomm on non-infringement." Not surprisingly, the company will appeal the non-infringement ruling.
Bloomberg reports the judge handling ParkerVision's (PRKR) infringement suit against Qualcomm (QCOM) has ruled in Qualcomm's favor. A Qualcomm motion for a judgment as a matter of law (JMOL) has been granted, and so has a motion for a new non-infringement trial.
ParkerVision received a $173M jury verdict against Qualcomm last October. The company announced a new suit against Qualcomm (it also covers HTC) in May.
SA author Alpha Exposure offered a downbeat take last month on the original suit's May 1 hearing. Shares remain halted.
In a closely-watched case, the Supreme Court has upheld the patentability of software concepts, albeit while setting limits: Companies can't patent a mere abstract idea on a computer, but can patent software ideas that advance or improve upon existing ideas.
The ruling comes a month after Sen. Pat Leahy shelved a hotly-contested bill aimed at limiting the power of patent trolls. Many tech giants and startups backed the bill, while IP licensing firms staunchly opposed it.
A few licensing firms are trading lower on a moderately down day for tech: VRNG -2.2%. ACTG -1.3%. VHC -2.8%. PRKR -3.8%. SPEX -3.1%.
RPX and entrepreneur Mike Farmwald (a ParkerVision short) have requested a USPTO inter partes review of 3 of the 4 ParkerVision (PRKR +2.3%) patents a jury deemed Qualcomm to be infringing during last year's suit.
Markman Advisors observes an adverse ruling could affect both settlement terms with Qualcomm and future litigation.
The USPTO recently rejected an RPX request for an inter partes review of patents being asserted by VirnetX against Apple, declaring the request "time-barred" on account of the fact it was filed more than a year after Apple was served with an infringement complaint.
After reading a transcript of the proceedings, SA author Alpha Exposure believes ParkerVision (PRKR -9.9%) attorney Joshua Budwin "made potentially critical errors" during a May 1 court hearing related to the company's Qualcomm suit.
The author notes Qualcomm argues the fact the baseband signal from its processors is generated before a capacitor and not after is "fatal to ParkerVision's infringement case," and thinks the judge presiding over the case (Judge Dalton) "appears to agree."
Alpha Exposure adds Dalton was "unsatisfied" with Budwin's defense against Qualcomm's argument, and that Qualcomm lawyer Stephen Neal stated the company is developing 28nm chips that don't infringe ParkerVision's IP. The author thinks a 28nm RF transceiver announced last November (set to ship in commercial devices in early 2015) fits the bill.
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$PRKR getting taken out behind the woodshed courtesy of $QCOM spanking them in court. Shares off 60% - who is buying? Who is short?
Jun 23, 12:45 PM
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Parkervision, Inc. is in the business of innovating fundamental wireless technologies. It designs, develops & markets its proprietary radio frequency technologies & products for use in semiconductor circuits for mobile & other wireless applications.