PositiveID Corp (OTCMKTS:PSID) has recently released its latest quarterly and year-to- date
(YTD) earnings report.
Q3 Results
For the third quarter, PositiveID had a revenue of $1.07 million, down year-over- year from $2.50
million. It had a gross profit of $0.54 million, down year-over- year from $2.50 million.
The company’s Selling, General, and Administrative (SG&A) expenses had amounted to $3.76
million, up year-over- year from $0.82 million; Research and Development (R&D) expenses had
amounted to $0.19 million, down year-over- year from $0.45 million. This had brought its
operating expenses to $3.94 million, up year-over- year from $1.27 million. Other expenses for
the period had amounted to $1.08 million, down year-over- year from $1.32 million.
PositiveID had an operating loss of $3.40 million, which is comparable to an operating income of
$1.23 million recorded during the same period last year. Meanwhile, net loss had come in at
$4.48 million, up year-over- year from $0.09 million. This indicates a net loss per share of $0.19,
up year-over- year from $0.02.
YTD Results
YTD, the company has a revenue of $4.58 million, up year-over- year from $2.68 million. On the
other hand, its gross profit has declined year-over- year to $1.70 million from $2.53 million.
SG&A expenses had surged year-over- year to $7.34 million from $3.73 million while R&D
expenses had dropped year-over- year to $0.41 million from $0.99 million. Consequently,
operating expenses had risen to $7.75 million from $4.72 million. Other expenses had dipped
year-over- year to $4.27 million from $4.70 million.
YTD, PositiveID has an operating loss of $6.05 million, up year-over- year from $2.19 million;
and a net loss of $10.32 million, up year-over- year from $6.89 million. This indicates a net loss
per share of $1.28, up year-over- year from $0.63.
“As we focus on growing the strong customer base and cash flow of the ENG Mobile Lab and
Caregiver businesses, we also are highly motivated to complete the development and testing of
Firefly Dx, as we believe each of these businesses are key to our future success,” noted William
Caragol, PositiveID CEO and Chairman, highlighting the surge in revenue.
PositiveID has closed at $0.0002 on Friday.
