DELRAY BEACH, Fla., Oct. 03, 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 year-to-date vehicle bookings at the end of the third quarter of 2017 increased 152% compared to the first nine months of 2016. This increase was driven by bookings during the third quarter of more than $1.5 million.
ENG is a specialty vehicle manufacturer that focuses on building customized mobile laboratories, and has delivered more than 1,500 vehicles since its inception. Bookings represent signed purchase orders or contracts received from customers. The company recognizes revenue on booked contracts once the vehicle is built and delivered to the customer. ENG’s bookings through the third quarter of 2017 exceed its full year 2016 bookings, with the largest component of year-to-date bookings representing orders for mobile labs at 43% of total bookings.
ENG’s MobiLab™ line, mobile laboratories for chemical and biological detection, monitoring and analysis, bring these capabilities to the field where they are 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. Customers include the U.S. Environmental Protection Agency, U.S. Department of Labor, U.S. Army, and other public agencies and private companies.
“We are very proud of the ENG team. Their success in booking new business is a tribute to the outstanding vehicles that they custom design and deliver to customers,” said William J. Caragol, Chairman and CEO of PositiveID. “We are known for combining application and industry expertise with proven vehicle systems engineering to transform complex ideas into operationally friendly solutions. We believe this sets us apart from the competition and will drive continued growth for our business.”
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 holding company focused on life sciences, diagnostics, mobile laboratories, and medical devices. PositiveID’s ExcitePCR subsidiary is developing the FireflyDX family of pathogen detection systems, portable devices offering rapid sample-to-result detection in less than 30 minutes using real-time polymerase chain reaction chemistry. PositiveID’s E-N-G Mobile Systems™ subsidiary is a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. PositiveID’s Thermomedics™ subsidiary markets the FDA-cleared Caregiver® non-contact thermometer for clinical use. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.
Statements about PositiveID's (the “Company”) future expectations, including the likelihood that the Company’s ability to combine application and industry expertise with proven vehicle systems engineering to transform complex ideas into operationally friendly solutions will drive continued growth for its business; 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, ENG’s ability to build and deliver vehicles to customers, and the timing of such deliveries; ENG’s ability to attract and retain customers; the Company’s ability to raise capital; as well as other risks. Additional information about these and other factors that could affect PositiveID's business is set forth in its various filings with the Securities and Exchange Commission, including those set forth in its 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." PositiveID 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.