$ PSID. PositiveID’s E-N-G Mobile Systems to Start 2017 with $3.9M of Orders in Backlog and Pipeline
Dec 27, 2016
DELRAY BEACH, Fla., Dec. 27, 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 subsidiary (“ENG”), a specialty vehicle manufacturer, will start 2017 with $3.9 million of backlog and pipeline.
Backlog orders are orders where ENG has received a signed purchase order. Pipeline opportunities are sales opportunities that have been qualified and ENG is working with the customer to complete the sale. Not all pipeline opportunities result in sales. More than half of the Company’s pipeline opportunities come from a diverse customer base including across the mobile laboratory sector, where ENG has more than 400 labs in the field.
“With the visibility we already have on ENG’s backlog and pipeline for next year, we believe ENG is positioned for a strong performance in 2017,” stated Lyle L. Probst, President of PositiveID. “Considering the roughly $4.2 million of revenues that ENG generated in the first nine months of 2016, we are focused on growing this business above its average revenues over the ten years prior to acquisition of $4 million per year.”
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