Disclosure NewswireTMiCrowdNewswire - Oct 18, 2016
DELRAY BEACH, Fla. — PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today that purchase orders for vehicle production and modification at its E-N-G Mobile Systems (“ENG”) subsidiary in the third quarter grew 240% over the quarterly average for the first half of 2016.
The largest and fastest growing aspect of ENG’s business over the last decade has been its mobile labs segment, which includes chemical, biological, nuclear, radiological and explosives testing in the field. ENG’s total revenues for the first half of 2016 were $3.3 million.
“ENG is a consistent, steadily growing business, which we are working to further expand, particularly in the mobile labs space where we believe we can easily differentiate ourselves from our competitors who do not offer the same level of scientific expertise and experience,” stated William J. Caragol, Chairman and CEO of PositiveID. “The growth in purchase orders during the third quarter demonstrates that our increased focus on sales efforts is succeeding.”
ENG has built over 400 mobile labs, more than any other specialty vehicle manufacturer, designed for chemical and biological detection, monitoring and analysis. ENG, which has been in business for almost 40 years, distinguishes itself from its competitors with its team of scientists who work in conjunction with the design engineers and shop personnel to deliver the most advanced mobile labs available.
About PositiveID Corporation
PositiveID Corporation is a life sciences tools and diagnostics company with an extensive patent portfolio. PositiveID develops biological detection and diagnostics systems, specializing in the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID is also a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.
Statements about PositiveID’s future expectations, including the likelihood that ENG is a consistent, steadily growing business, which the Company is working to further expand, particularly in the mobile labs space; the likelihood that the growth in purchase orders during the third quarter demonstrates that the Company’s increased focus on sales efforts is succeeding; constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and PositiveID’s actual results could differ materially from expected results. These risks and uncertainties include, without limitation, the Company’s ability to target the professional healthcare market, as well as other risks. Additional information about these and other factors that could affect the Company’s business is set forth in the Company’s various filings with the Securities and Exchange Commission, including those set forth in the Company’s 10-K filed on April 12, 2016, and 10-Qs filed on August 12, 2016, May 16, 2016, and November 12, 2015, under the caption “Risk Factors.” The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
Contacts: PositiveID Corporation Allison Tomek (561) 805-8044 [email protected] RedChip Companies Jon Cunningham (407) 644-4256 [email protected]