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| PSID Record Numbers are a Big Validation |
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 Hot Stock to Watch |
Company: PositiveID Corporation (OTCQB: PSID)
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Last:
Price: 0.0275
Change (%): - 0.0007 (2.48)
Volume: 9,497,978 |
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PositiveID Corporation Reports Record Revenue of 2.7 Million Dollars for the Nine Months Ended September 30, 2015
Operating Income for the Third Quarter Totaled 1.2 Million Dollars
DELRAY BEACH, Fla., Nov. 13, 2015 (GLOBE NEWSWIRE) - PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company with an extensive patent portfolio, announced today its financial results for three and nine months ended September 30, 2015, which includes 2.7 million dollars of revenue for the nine months ended September 30, 2015, compared to revenue of 0.7 million dollars for the nine months ended September 30, 2014, an increase of 260%.
Revenue for the first nine months of 2014 included the proceeds from two U.S. government contracts. Revenue for the first nine months of 2015 included revenue from a U.S. government contract and 2.5 million dollars from a license fee paid by a large commercial partner, which had been previously deferred. The Company’s Form 10-Q can be found in the Investor Relations section of its website at www.psidcorp.com.
The Company recorded 1.2 million dollars of operating income for the three months ended September 30, 2015, compared to an operating loss of $592,000 for the three months ended September 30, 2014. The Company’s operating loss for the nine months ended September 30, 2015 was 2.2 million dollars, compared to an operating loss of 3.1 million dollars for the nine months ended September 30, 2014.
“In addition to the revenue and operating income we posted in the quarter, we are also proud of our operational performance particularly as it relates to our progress with Firefly Dx,” said William J. Caragol, Chairman and CEO of PositiveID. “We look forward to continuing this positive momentum on our strategic initiatives through the end of 2015, early 2016 and beyond.”
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