PositiveID Corporation (fka PSID)

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NEWS!!! Jun 21, 2016 08:30:00 (ET)

PositiveID's Mobile Lab Business Completed 80 Projects in the First Half of 2016

PositiveID's Mobile Lab Business Completed 80 Projects in the First Half of 2016

ENG's backlog and pipeline for the third quarter includes approximately 40 projects

DELRAY BEACH, Fla., June 21, 2016 (GLOBE NEWSWIRE) -- PositiveID Corporation ("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, the leading manufacturer of mobile labs, completed approximately 80 projects in the first half of 2016, which includes both new vehicle design and production, as well as repairs and modifications to existing customer vehicles. ENG currently has approximately 40 projects in backlog and its pipeline for the third quarter of 2016.

The largest and fastest growing aspect of ENG's specialty vehicle manufacturing business over the last decade has been its mobile labs segment for chemical, biological, radiological, nuclear and explosives ("CBRNE") testing in the field. ENG has delivered more than 400 labs to federal, state and local agencies, and private companies, including 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.

In the first half of 2016, ENG engineered and produced several high-profile specialty vehicles including a BSL3-ready mobile lab for CBRNE threat detection and analysis, multiple vehicles for the U.S. Department of Mine Safety and Health Administration, and a mobile lab for the Nuclear Waste Partnership Waste Isolation Pilot Program.

"Since our acquisition of ENG in late 2015, we have focused on increasing operating efficiencies and growing the business pipeline," said Lyle L. Probst, President of PositiveID. "We are confident that ENG has the capability to further expand its mobile lab business as the only specialty vehicle manufacturer with a team of scientists supporting lab design and production, and we believe this sets us apart as we pursue new business and maintain ENG as the dominant leader in the mobile lab market."

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 specialty vehicle market, with a focus on mobile labs. 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 has the capability to further expand its mobile lab business as the only specialty vehicle manufacturer with a team of scientists supporting lab design and production; the likelihood that this sets the Company apart as it pursues new business and maintains ENG as the dominant leader in the mobile lab market; 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 grow its mobile labs business; the Company's ability to target the biodefense market, the healthcare market, 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 16, 2016, November 12, 2015, and August 13, 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.
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June 21, 2016 08:30 ET (12:30 GMT)