First Half of 2014 Highlights
• PositiveID issued its first-ever revenue guidance of $4-10 million over 2014 and 2015 (combined), and recognized revenue of $420,000 in the second quarter.
• PositiveID has reiterated its revenue guidance and currently has booked revenue (revenue recognized plus signed backlog) of $3.5 million.
• The Company signed a revenue-generating contract with a large government contractor to support a contract for the U.S. Department of Defense ("DoD") to support the Joint United States Forces Korea Portal and Integrated Threat Recognition ("JUPITR") Program, and received a follow-on purchase order.
• A PositiveID teaming partner was awarded a prime contract, with a total value of up to $4 billion for all awardees if all options are exercised, by the U.S. Defense Threat Reduction Agency to conduct research and development to combat weapons of mass destruction.
• PositiveID signed a Space Act Agreement with NASA'sAmes Research Center wherein NASA will assess the Company's Firefly technology for potential ground and space applications, while PositiveID will assess the technology to improve its hardware development for extreme environments, such as DoD field applications.
• The Company strengthened its management team this year with the appointment of Lyle L. Probst as the Company's president, and the addition of U.S. homeland security and counter-terrorism expert Thomas DiNanno and businessman Michael Campbell to its advisory board.
"I am very proud that we have delivered on the promise we made to investors in early 2014 to enter into agreements related to our M-BAND and Firefly Dx bio-threat detection products with one or more large government and commercial partners in the first half the year," said William J. Caragol, PositiveID's Chairman and CEO. "It is clear that the steps we have taken to properly position the Company and our superior technology, both by aligning ourselves with strong partners and pursuing large market opportunities, are bearing fruit. As evidenced by our revenue guidance, we believe this is just the beginning of many accomplishments to come."