DELRAY BEACH, Fla., July 26, 2017 (GLOBE 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 bookings for the first half of 2017 increased 158% from the first half of 2016 to $2.4 million. ENG is a specialty vehicle manufacturer, which has delivered more than 1,500 vehicles, with a focus on building customized mobile laboratories.
Bookings represent signed purchase orders or contracts received from customers. PositiveID recognizes revenue on booked contracts once the vehicle is built and delivered to the customer. More than half of ENG’s bookings for the first half of 2017 are for its MobiLab™ mobile lab vehicles.
The MobiLab line brings chemical 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.
“As ENG’s business continues to expand, we believe we are making significant strides in becoming the industry’s ‘go-to’ provider of mobile labs,” said Lyle L. Probst, President of PositiveID. “We set ourselves apart from our competitors with our team of trained scientists and engineers on staff, which makes this segment of the specialty vehicle business is a natural fit for us.”
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 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 (“Company”) future expectations, including the likelihood that as ENG’s business continues to expand, the Company believes it is making significant strides in becoming the industry’s “go-to” provider of mobile labs; the likelihood that ENG’s team of trained scientists and engineers on staff makes the mobile labs segment of the specialty vehicle business a natural fit for ENG; 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 specialty vehicle market; the Company’s ability to attract new customers and retain existing customers; the Company’s ability to build and deliver specialty vehicles; 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 May 15, 2017, November 18, 2016, and August 12, 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.
Source: PositiveID Corporation