DELRAY BEACH, Fla., Oct. 31, 2016 (GLOBE NEWSWIRE) — PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today that the service business at its E-N-G Mobile Systems (“ENG”) subsidiary in the third quarter grew 70% over the quarterly average for the first half of 2016, as ENG secured business from government agencies and broadcast companies refurbishing and servicing their vehicles.
ENG designs and builds mobile laboratories, wireless support vehicles (cell-on-wheels and cell-on-light-trucks), radio frequency (“RF”) test platforms, broadcast news vehicles, and other technical vehicles. ENG has delivered more than 1,400 specialty vehicles to customers around the globe, including more than 400 mobile laboratories, 600 broadcast news vehicles, and more than 400 vehicles for cellular, RF, infrared, and other applications.
ENG’s service business includes repair and maintenance, mast service and sales, Nycoil fabrication, custom mast payload brackets, generator sales and installation, custom metal fabrication, technical vehicle repairs, custom panel engraving, electronics upgrades and sales, cable assemblies, and more.
“We are very pleased with the seamless integration of ENG into PositiveID, and the continued execution and steady growth of this business in the specialty vehicle market,” said William J. Caragol, Chairman and CEO of PositiveID. “Through the course of 2016, ENG has added new, world-class companies to its customer base, which, we believe, is a testament to ENG’s skilled workforce and best-in-class products and services.”
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 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 professional 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 August 12, 2016, May 16, 2016, and November 12, 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.