ParkerVision Inc. said Monday that its fourth-quarter loss narrowed as the developer of radio frequency technology reported more than $60 million in service revenue and a drop in operating expenses.
For the quarter ended Dec. 31, ParkerVision's loss totaled $4.9 million, or 13 cents per share, compared with a loss of $5.7 million, or 21 cents per share, in the year-ago quarter.
Revenue totaled $64 million. The company did not record revenue in the year-ago quarter.
The company said operating expenses fell 14 percent to $4.9 million, due mostly to a drop in research and development costs.
For the full year, ParkerVision's loss was $21.5 million, or 65 cents per share, compared with a loss of $23.1 million, or 88 cents per share, in 2008.
Revenue totaled $64 million. ParkerVision did not record revenue in 2008.
ParkerVision shares fell 22 cents, or 9.4 percent, to close at $2.12. The stock has ranged from $1.41 to $4.90 over the past year.
