PositiveID's E-N-G Mobile Systems' Year-to-Date Bookings Up 152%
from Prior Year
Delray Beach, FL -- October 03, 2017 -- InvestorsHub NewsWire --
PositiveID Corporation (OTCQB:
PSID), a life sciences company focused on detection and
diagnostics, announced today that its E-N-G Mobile
Systems ("ENG") subsidiary year-to-date vehicle bookings at the
end of the third quarter of 2017 increased 152% compared to the
first nine months of 2016. This increase was driven by bookings
during the third quarter of more than $1.5 million.
ENG is a specialty vehicle manufacturer that focuses on building
customized mobile laboratories, and has delivered more than 1,500
vehicles since its inception. Bookings represent signed purchase
orders or contracts received from customers. The company recognizes
revenue on booked contracts once the vehicle is built and delivered
to the customer. ENG's bookings through the third quarter of 2017
exceed its full year 2016 bookings, with the largest component of
year-to-date bookings representing orders for mobile labs at 43% of
total bookings.
ENG's MobiLab line, mobile laboratories for chemical and
biological detection, monitoring and analysis, bring these
capabilities to the field where they are 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. Customers
include the U.S. Environmental Protection Agency, U.S. Department
of Labor, U.S. Army, and other public agencies and private
companies.
"We are very proud of the ENG team. Their success in booking new
business is a tribute to the outstanding vehicles that they custom
design and deliver to customers," said William J. Caragol, Chairman
and CEO of PositiveID. "We are known for combining application and
industry expertise with proven vehicle systems engineering to
transform complex ideas into operationally friendly solutions. We
believe this sets us apart from the competition and will drive
continued growth for our business."
In addition to its mobile labs, ENG also designs and builds
wireless support vehicles (cell-on-wheels and
cell-on-light-trucks), radio frequency test platforms, broadcast
news vehicles, and other technical vehicles.
About PositiveID Corporation
PositiveID Corporation is a holding company focused on life
sciences, diagnostics, mobile laboratories, and medical devices.
PositiveID's ExcitePCR subsidiary is developing the
FireflyDX family of pathogen detection systems, portable devices
offering rapid sample-to-result detection in less than 30 minutes
using real-time polymerase chain reaction chemistry. PositiveID's
E-N-G
Mobile Systems subsidiary is a leader in the mobile technology
vehicle market, with a focus on the laboratory market and homeland
security. PositiveID's Thermomedics subsidiary markets the
FDA-cleared Caregiver non-contact thermometer for clinical use. For
more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on
Twitter, Facebook or LinkedIn.
Statements about PositiveID's (the "Company") future
expectations, including the likelihood that the Company's ability
to combine application and industry expertise with proven vehicle
systems engineering to transform complex ideas into operationally
friendly solutions will drive continued growth for its business;
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, ENG's ability to build and deliver
vehicles to customers, and the timing of such deliveries; ENG's
ability to attract and retain customers; the Company's ability to
raise capital; as well as other risks. Additional information about
these and other factors that could affect PositiveID's business is
set forth in its various filings with the Securities and Exchange
Commission, including those set forth in its 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." PositiveID
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