PositiveID Corporation Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Revenue Guidance for the Year 2017
For the period, the company reported revenues of $2.5 million, up 20% from $2.0 million a year ago. In the first half of 2017, work progressed on several mobile labs that will be delivered in the second half of this year. As individual projects may be material, revenues from quarter to quarter can vary significantly based on the timing of such deliveries. As a result, quarterly revenue may not reflect results projected over an annual period. Operating loss improved by 37% and cash flow from operations improved 31% over the second half of 2016.
The company also provided revenue guidance for the year 2017. For the year, The company expects revenue to exceed 2016 revenue of $5.6 million.