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| PSID Provides 2015 Overview and 2016 Outlook |
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 Hot Stock to Watch |
Company: PositiveID Corporation (OTCQB: PSID)
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Last:
Price: 0.0215
Change (%): + 0.0009 (4.12)
Volume: 828,328 |
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PositiveID Corporation Announces 2015 Highlights and 2016 Outlook
Company to Host Webcast on January 13th to Discuss Recent Acquisitions and 2016 Objectives
DELRAY BEACH, Fla., Jan. 11, 2016 (GLOBE NEWSWIRE) - PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today a summary of 2015 highlights and its outlook for 2016 following two recent acquisitions.
Highlights
- Acquired E-N-G Mobile Systems, Inc., a growing business focused on mobile biological and chemical labs, with strong market share that has recorded average revenues of 4 million dollars per year for the last decade
- Acquired the FDA-cleared Caregiver® non-contact thermometer, which has 80% gross margins and is targeting the largest growing segment of the temperature monitoring device market, which is forecast to reach 1 billion dollars by 2020
- Reported record revenue of 2.7 million dollars for the nine months ended September 30, 2015
- Completed the Firefly Dx benchtop prototype for point-of-need pathogen detection, including PCR capability, sample preparation and real-time optics, and filed associated patents
- Successfully detected multiple pathogens, including influenza, MRSA, MSSA, E.coli, C. diff and others, in less than 20 minutes on the Firefly Dx prototype PCR system, which is targeting the real-time PCR industry, estimated to be a 5.6 billion dollar market by 2020
- Successfully completed Phase I of the Department of Homeland Security’s SenseNet program with Firefly Dx
- Completed successful testing of the M-BAND airborne bio-threat detector under the Department of Defense JUPITR program, a contract that generated over 1 million dollars for the Company
“During the last month of 2015, PositiveID acquired two new businesses, which are very complementary to our detection and diagnostics business, helping us evolve into a much stronger, horizontally integrated company,” stated William J. Caragol, Chairman and CEO of PositiveID. “These two companies bring synergistic product offerings, experienced management, and a robust customer and distribution network. We now have multiple, new, near-term and sustainable revenue streams with growth and expansion opportunities, which we plan to build upon while we complete the development and testing of our Firefly Dx real-time pathogen detection system.”
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