PositiveIDs E-N-G Mobile Labs Revenues for First Eight Months of 2017 Exceed Full Year 2016 Mobile Labs Revenues by 19%
August 22 2017 - 8:00AM
InvestorsHub NewsWire
Mobile labs revenues represent more than 50% of total revenue
for its specialty vehicle business, up from 24% for the full year
2016
Delray Beach, FL -- August 22, 2017 -- PositiveID Corporation (OTCQB:
PSID), a life sciences company focused on detection and
diagnostics, announced today that revenues so far this year for its
mobile laboratories at its E-N-G Mobile Systems (ENG)
subsidiary total $1.4 million year-to-date, up almost 19% over
mobile laboratories revenues for all of 2016.
ENG is a specialty vehicle manufacturer, which has delivered
more than 1,500 vehicles, with a focus on building customized
mobile laboratories. Not only does ENGs mobile labs revenue
year-to-date exceed mobile labs revenue generated for all of 2016,
its mobile lab business has also grown as a percentage of ENGs
total sales. Sales of mobile labs currently represent more than 50%
of ENGs total revenue in 2017 year-to-date, versus 24% in 2016.
Although year-to-date mobile laboratory revenues and mobile labs
revenue as a percentage of ENGs total sales currently exceed mobile
labs revenue and sales mix for 2016, these metrics may not continue
to track at a comparable rate on a year over year basis.
Mobile labs are one of our core competencies, and we continue
our drive as the industrys preeminent provider of these highly
specialized, customized vehicles as demonstrated by the growth of
this segment of our business, said Lyle L. Probst, CEO of ENG. When
a customer needs a mobile lab, we design it from the ground up,
utilizing the expertise of our team of in-house scientists and
skilled engineers to make the best lab-on-wheels available, which
is emphasized by our prestigious list of customers, continued Mr.
Probst.
The MobiLab line brings chemical, environmental and biological
detection, monitoring and analysis to the field where it is needed
most. ENG has delivered more than 400 MobiLabs to customers around
the globe, with applications ranging from general purpose and
chemistry labs to BSL3-ready and full CBRNE (chemical, biological,
radiological, nuclear and explosives) threat detection and
analysis.
In addition to its mobile labs, ENG also designs and builds
communications support vehicles/command centers (cell-on-wheels and
cell-on-light-trucks), radio frequency test platforms, broadcast
news vehicles, and other technical specialty vehicles.
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 the industrys preeminent provider of these
highly specialized, customized vehicles as demonstrated by the
growth of this segment of our business; the likelihood that
year-to-date mobile laboratory revenues and mobile labs revenue as
a percentage of ENGs total sales will continue to track at a
comparable rate on a year over year basis; 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 Companys ability to target the specialty vehicle market; the
Companys ability to attract new customers and retain existing
customers; the Companys ability to raise capital; 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 March 31,
2017, and 10-Qs filed on August 14, 2017, May 15, 2017, and
November 18, 2016, 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
atomek@psidcorp.com