ParkerVision reports first revenue since 2019

The company reached a patent licensing and settlement agreements with two companies.

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ParkerVision Inc. reported its first revenue in two years in the third quarter after reaching settlements with two companies to license its wireless technology.

Jacksonville-based ParkerVision had no revenue since discontinuing sales of its in-home wireless router, called Milo, in late 2019.

The company has instead been entirely focused on several legal actions against wireless communications manufacturers which ParkerVision claims have been illegally using its patented technology.

While several lawsuits remain pending, ParkerVision reached patent licensing and settlement agreements with Buffalo Inc. in May and Zyxel Communications Corp. in September.

As a result, the company reported revenue Nov. 15 of $144,000 in the third quarter.

ParkerVision still had a net loss of $2.1 million, or 3 cents a share, in the quarter.

“We are hopeful that additional parties will join Zyxel and Buffalo and become licensees of our patented technologies in the near future under comparable royalty rates,” CEO Jeff Parker said in a news release.

Duos Technologies increases revenue

Duos Technologies Group Inc. reported Nov. 15 that third-quarter revenue rose 36% to $1.74 million, but the company still lags behind its previous revenue projections.

Jacksonville-based Duos produces security technology for railroads and other businesses. 

The company was projecting big growth last year but its progress was derailed by the COVID-19 pandemic.

Duos had been targeting $18 million in revenue this year but now it is projecting $8 million to $9 million.

The company had a net loss of $2.45 million in the third quarter but it is hoping to break even in the fourth quarter.

“This quarter’s modest return to growth was an encouraging step in the right direction while we positioned ourselves to meet an increasing pipeline of large contract opportunities in the coming months,” CEO Chuck Ferry said in a conference call, according to a transcript posted by the company.

Ferry said Duos has taken steps to address supply chain issues that are impacting businesses of all types.

“We’ve transitioned a significant portion of our overseas vendor relationships back to the United States, which has also helped to reduce some supply chain challenges,” he said.

“Several of our parts manufacturing vendors are right here in North Florida, where we get the benefit of collaborating with them face to face.”

Ferry said Duos is in the final stages of moving its headquarters to 7660 Centurion Parkway, in the former SuperStock building in Deerwood Park South.

“This move takes us from three disparate locations to one building where we will be able to better collaborate face-to-face as one team under one roof,” he said.

“In addition to creating a more collaborative work environment, the new facility will have sufficient space for the company’s anticipated expansion over the next 12 months.”

LFTD sales and earnings grow

LFTD Partners Inc. said Nov. 16 its third-quarter revenue rose 32% from the second quarter to $8.8 million and net income rose 40% to $2.2 million, or 14 cents a share.

LFTD is focused on consolidating businesses in the cannabinoid and e-liquid product markets and because of acquisitions, comparisons with  last year’s quarterly results aren’t relevant.

Two acquisitions are pending and “merger discussions are also underway with other selected potential merger candidates which have the potential to further diversify our business,” LFTD President Jake Jacobs said in a news release.

The company, formerly known as Acquired Sales Corp., moved its headquarters office to Jacksonville in January from Lake Forest, Illinois, but its operating subsidiary businesses are outside of Jacksonville.

Revalize continues expansion

Jacksonville-based Revalize announced an expansion of its European operations and an additional investment in the company.

Revalize, which provides software for manufacturers, was formed in June by AutoQuotes LLC and private equity firm TA Associates.

The company in September announced the acquisition of four U.S. firms and in October expanded into Europe by purchasing a Netherlands-based software company.

Revalize said Nov. 16 it agreed to buy two software companies in Germany and one in Switzerland to extend its European operations.

It also said Nov. 16 that software and services investment firm HG acquired a “significant” minority investment in the company.

Revalize did not announce the size of the investment but said the enterprise value of the company is $1.8 billion after the transaction.

Analyst downgrades Regency

Compass Point analyst Floris van Dijkum downgraded his rating on Jacksonville-based Regency Centers Corp. from “buy” to “neutral” Nov. 19 as part of a reevaluation of companies that operate strip shopping malls.

“As part of our quarterly strip earnings recap, we are recommending investors have a mid-cap bias to their strip portfolio by swapping out of strong YTD performing Regency Centers and into lagging Brixmor,” van Dijkum said in a research note.

“Based on relative valuation and performance. Regency has been a great stock in 2021, up over 63% YTD. The company is the second largest strip owner with a best in class balance sheet and high quality grocery-anchored assets,” he said.

However, stocks of New York-based Brixmor Property Group Inc. and other smaller companies van Dijkum covers offer better potential for price increases, he said.

“While all stocks in our coverage universe are likely to trade higher in twelve months, we currently see the greatest relative upside in select mid-cap names outside the largest three strip owners,” he said.

Shoe Carnival stock jumps on earnings

Shoe Carnival Inc. said sales jumped 29.8% in the third quarter ended Oct. 30 to $356.3 million and earnings more than tripled to $1.64 a share.

“This was, by every measure that matters, our best quarter of our best year in our 43-year history,” CEO Mark Worden said in a news release.

Worden said store traffic rose more than 40% in the quarter and every major merchandise category increased sales at the chain of 377 footwear stores.

Former Jacksonville Jaguars owner Wayne Weaver is chairman of Evansville, Indiana-based Shoe Carnival and its largest shareholder. He and his wife, Delores, own 29% of the stock.

Shoe Carnival’s earnings beat the consensus forecast of analysts of $1.15 a share, according to Yahoo Finance.

The company’s stock rose as much as $2.49 to a record high $46.21 on Nov. 18 after the earnings report.

Home Depot benefits from former Interline business

The Home Depot Inc. reported higher sales and earnings Nov. 16 with help from a business that grew out of Jacksonville-based Interline Brands.

After acquiring Interline, which marketed products for professional contractors, for $1.625 billion in 2015, the company expanded the business by creating a division called Home Depot Pro in 2018.

That business has been growing since the COVID-19 pandemic started last year.

“As we mentioned last quarter, we continue to see customers taking on larger home improvement projects as evidenced by the continued strength with our Pro customer, which once again outpaced the DIY customer,” CEO Craig Minear said in Home Depot’s conference call, according to a company transcript.

Home Depot did not report data for the Pro division. But it said total sales for the company rose 9.8% in the third quarter ended Oct. 31 to $3.3 billion.

Earnings rose from $3.18 a share in last year’s third quarter to $3.92 in 2021.




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