DELRAY BEACH, Fla.,
April 25, 2016
(GLOBE NEWSWIRE) --
("PositiveID" or "Company") (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today that its E-N-G Mobile Systems ("ENG") subsidiary has shipped a 40-foot BSL-3 compliant mobile laboratory valued in excess of
$700,000. Due to the nature and location of the mobile lab, the customer is being kept confidential. Since its inception, ENG, a specialty vehicle manufacturer acquired by
December 2015, has delivered more than 400 mobile labs to customers around the world.
The largest and fastest growing aspect of ENG's business over the last decade has been its mobile labs segment, which includes government and corporate laboratories for chemical, biological, nuclear, radiological and explosives testing in the field. ENG has delivered more than 100 mobile labs for the U.S. Army, plus numerous laboratories to other government agencies including U.S. Customs and Border Protection, U.S. Navy, U.S. Air Force, prominent national laboratories, and nine of the 10 regions of the Environmental Protection Agency.
"ENG is an industry leader in designing mobile labs for chemical and biological detection, monitoring, and analysis," stated William J. Caragol, Chairman and Chief Executive Officer of PositiveID. "This mobile lab, developed under a large contract that will generate significant revenue for PositiveID during the second quarter and keep us on track to reach our revenue goals for 2016, is the latest example of our robust capabilities, expertise and best-in-class products."
In addition to mobile labs, ENG has delivered more than 1,200 other technical vehicle systems. These include communications/command centers, broadcast news vehicles, radio frequency monitoring, infrared monitoring and video communications vehicle systems, plus a wide range of mobile systems for emergency preparedness and threat response.
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 this mobile lab will generate significant revenue for PositiveID during the second quarter and keep the Company on track to reach its revenue goals for 2016; 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, rapid medical testing, and specialty vehicle sectors; the Company's ability to successfully integrate the ENG acquisition; 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 November 12, 2015, August 13, 2015, and May 15, 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.