ParkerVision, Inc. (ParkerVision), a US-based provider of advanced RF solutions to the wireless semiconductor industry, has reported total operating expenses of $23.4 million for the year-end 2008, compared with total operating expenses of $19.1 million in the previous year-end. It has also reported a net loss of $23.1 million, or $0.88 loss per share, for the year-end 2008, compared with net loss of $18.2 million, or $0.74 loss per share, in the previous year-end.

ParkerVision has reported a net loss for the fourth quarter 2008 of $5.7 million, or $0.22 per share, compared to a net loss of $4.7 million or $0.19 per share during the fourth quarter of 2007.

The increase in the net loss from 2007 to 2008 is largely a result of increased product development costs and an increase in non-cash share-based compensation expense. A significant portion of the increased product development cost was for outsourced engineering design services with a number of firms to assist in the layout of certain ICs and circuits that are peripheral to the company’s fundamental technology under programs that were substantially completed by the end of 2008.

ParkerVision is currently working with its customers to complete product designs and/or transition their designs into production, which is expected to result in initial royalty revenues in 2009.

ParkerVision ended 2008 with $4.8 million in cash and cash equivalents. Subsequent to the end of the year, the company completed three concurrent offerings under a shelf registration statement for the sale of about 6 million shares of its common stock and warrants to purchase an additional 0.4 million shares of common stock. The net proceeds from these offerings, after deduction of underwriter discounts, placement fees, legal and other related expenses, were about $9.4 million.

ParkerVision used about $18.9 million in cash in 2008 for operations and investments in intellectual property and other assets. The company expects its overall operating costs in 2009 to be reduced from those incurred in 2008 as a result of elimination of certain non-recurring product development expenditures and other cost-reduction measures that have been implemented. The company believes its current capital resources are sufficient for its working capital needs in 2009.

Chairman and Chief Executive Officer, Jeffrey Parker stated, In 2008, we focused on providing collaborative support to our licensees in their product design efforts. In addition, we secured a customer relationship with LG Innotek (LGI) late in 2008 for the development of a HEDGE module for high-growth 3G mobile handset applications. LGI lists LG Electronics, Nokia, Sony, Sharp and Motorola among its customers. We expect the LGI relationship to result in product revenue in 2010.

We believe that 2009 will be a year of initial royalty revenue as our technology is introduced into mobile handset products by our chipset customer announced in December 2007. Additionally, we expect to complete our product offerings for LGI which will allow them to begin sampling their HEDGE module to customers in 2009. We fully expect these key milestones will help ParkerVision accelerate its expansion with both current and new customers during the coming year and beyond.

Parker added, We recently completed a financing, managed by Roth Capital Partners, the proceeds of which, combined with our reductions in operational expenses, will provide the working capital we need to support our customers and their product deployments.