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| PSID Beats Expectations and Issues Strong Results for 2015 |
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 Hot Stock to Watch |
Company: PositiveID Corporation (OTCQB: PSID)
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Last:
Price: 0.0112
Change (%): - 0.0004 (3.45)
Volume: 1,190,823 |
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PositiveID Reports 2015 Revenue of 2.9 Million Dollars, Up 211% Year over Year
Total Assets Increase 360% to 4.7 Million Dollars
DELRAY BEACH, Fla., April 12, 2016 (GLOBE NEWSWIRE) - PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced its financial results for the year ended December 31, 2015.
Revenue and total assets increased significantly in 2015, while the Company continued to invest in research and development as it works to complete the build and testing of its Firefly Dx handheld, real-time polymerase chain reaction (“PCR”) pathogen detection system.
“Following our acquisitions of E-N-G Mobile Systems (“ENG”) and Thermomedics in late 2015, our business is stronger and better positioned than ever to compete in the detection and diagnostics industry due to the addition of complementary revenue streams and synergistic distribution networks and customers,” stated William J. Caragol, Chairman and CEO of PositiveID. “With our continued growth and horizontal integration of our business, we are reaffirming our 2016 revenue guidance of 5-6 million dollars.”
For the year ended December 31, 2015, revenues were 2.9 million dollars, compared to 0.9 million dollars for year ended December 31, 2014, an increase of 211%. Total assets for the year ended December 31, 2015 were 4.7 million dollars, compared to 1.0 million dollars for the year ended December 31, 2014, an increase of 360%. Revenues for 2015 included 2.5 million dollars from a license fee paid by a large commercial partner, which had been previously deferred, and the revenue from a partial month of operations of ENG and Thermomedics. Revenue for 2014 included the proceeds from two U.S. government contracts.
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