Nov 19, 2014

PositiveID Corporation Announces Third Quarter 2014 Results

Company Reports Revenue; Ships Multiple M-BAND Units for Testing Under Government Contract for Improved Biosurveillance; Accelerates Development of Firefly Dx Handheld Diagnostic Device

DELRAY BEACH, Fla., Nov. 19, 2014 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCQB:PSID), a developer of biological detection and diagnostics solutions, announced today its highlights for the third quarter ended September 30, 2014, and also filed its Form 10-Q, which can be found at: http://investors.positiveidcorp.com/secfiling.cfm?filingID=1144204-14-69180&CIK=1347022.

Third Quarter 2014 Highlights

William J. Caragol, Chairman and CEO of PositiveID, said, "I am very pleased to report again that we generated revenue in the quarter and, more notably, to remind our investors of the significant progress we have made in 2014 to achieve the goals we set for ourselves related to both M-BAND and Firefly Dx. We are proud of the agreements we have entered into with world-class commercial and government partners, and their implicit validation of our technology and team. We believe that our accomplishments to date position us well for continued success through the end of 2014 and into 2015."

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 and analyze biological samples. 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 will generate revenue of $4-10 million through the end of 2015 (2014 and 2015 combined); the likelihood that the Company's accomplishments to date position it well for continued success through the end of 2014 and into 2015; 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; the Company's ability to raise capital; the Company's ability to complete the development of its Firefly system; 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 November 17, 2014, August 14, 2014, and May 20, 2014, 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



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Source: PositiveID Corporation

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