DELRAY BEACH, Fla., Aug. 22, 2017 (GLOBE NEWSWIRE) -- 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 ENG's 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 ENG's total sales. Sales of mobile labs currently represent more than 50% of ENG's 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 ENG's 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 industry's 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.
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 industry's 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 ENG's 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 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 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.
Source: PositiveID Corporation
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