ParkerVision, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company's GAAP net loss was $4.4 million, or $0.24 per common share, compared to a $2.3 million GAAP net loss, or $0.18 per common share, for the third quarter of 2016.  Net loss before income taxes was $4,380,000 compared to $1,674,000 a year ago. Net cash used in operating activities was $3,174,000 compared to $2,887,000 a year ago. Adjusted net loss was $3,839,000 compared to $185,000 a year ago. Adjusted net loss per common share was $0.21 against of $0.01 a year ago. The increase in net loss from the same quarter last year is due to the inclusion in third quarter of 2016 of approximately $3 million in gross profits net of related tax expenses, primarily from a licensing and settlement agreement the company entered into in the third quarter of 2016. And that was partially offset by $700,000 increase in the fair value of company's contingent payment obligation to company's litigation funding party during that same period.

For the nine months, the company's GAAP net loss was $12.9 million, or $0.76 per common share, compared to a $15.8 million GAAP net loss, or $1.33 per common share, for the first nine months of 2016. Net loss before income taxes was $12,916,000 compared to $15,178,000 a year ago. Net cash used in operating activities was $11,054,000 compared to $11,802,000 a year ago. Adjusted net loss was $11,337,000 compared to $11,317,000 a year ago. Adjusted net loss per common share was $0.67 against of $0.95 a year ago. The decrease in net loss year-over-year is a result of a decrease in litigation fees and expenses of approximately $5.5 million, offset by increases in product development and sales and marketing expenses, primarily related to the Milo product line.

The company expects at a minimum revenues in the hundreds of thousands of dollars in fourth quarter of 2017, and ramping towards millions of dollars in subsequent quarters. The company expects that gross margin, as a percent of revenue, will likewise show steady improvement as unit sales and revenues continue to grow.