ParkerVision soars on licensing deal
ParkerVision, Inc. (Nasdaq: PRKR) shares are soaring after the maker of wireless semiconductors announced it has made a lucrative royalty-bearing licensing deal with an unknown company.
The Jacksonville, Fla.-based company said it expects royalties to be between $5 million and $10 million during the first year. The firm also said the deal has “significant” growth potential.
The unknown customer is scheduled for its initial product launch in late 2008.
“The first commercial licensee of our RF technologies for applications in the mobile handset market is an important milestone for ParkerVision,” CEO Jeffrey Parker said in a statement. “Our customer conducted extensive due-diligence in the evaluation of our prototypes and the underlying technology over the course of many months.”
According to Thomson Financial, the sole analyst covering ParkerVision has a rating of “2” on the company, with “1” meaning a strong buy.
In afternoon trading, PRKR shares are up 18.23%, or $2.37, at $15.37. Over the last 52 weeks, shares have ranged from $7 to $16.
