DELRAY BEACH, Fla., June 30, 2014 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCQB:PSID), a developer of biological detection and diagnostics solutions, today published an updated report on its 2014 progress and future market opportunities for its homeland security and medical diagnostics technologies.
"There is a pervasive, global need for advanced biological detection capabilities, where time to detection is critical to stop a biological attack in its tracks," stated William J. Caragol, PositiveID's Chairman and CEO. "As evidenced by our current relationships with large commercial and government partners, we believe our M-BAND and Firefly Dx systems offer significant benefits over existing products, including faster, more accurate detection, at a lower cost. The Company is generating revenue for the first time since its formation, and we have issued revenue guidance through the end of 2015 of $4-10 million (2014 and 2015 combined), $3.3 million of which is currently in backlog."
A copy of the report is available on PositiveID's website at http://www.positiveidcorp.com/files/PositiveID_Market_Opportunities_Report_2014-06-30.pdf.
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and developer of biological detection systems for America's homeland defense industry as well as rapid biological testing. PositiveID is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays in order to detect biological threats at high-value locations, as well as analyze samples in a medical environment. For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
Statements about PositiveID's future expectations, including, without limitation, the likelihood that the Company's M-BAND and Firefly Dx systems offer significant benefits over existing products, including faster, more accurate detection, at a lower cost; the likelihood that the Company will generate revenue through the end of 2015 of $4-10 million (2014 and 2015 combined), $3.3 million of which is currently in backlog; and all statements in this press release 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 bio-threat detection and rapid medical testing sectors; 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 11, 2014, and 10-Qs filed on May 20, 2014, November 19, 2013, and August 14, 2013, as amended August 19, 2013, 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.
CONTACT: PositiveID Corporation Allison Tomek 561-805-8000 firstname.lastname@example.org