NEW YORK (GenomeWeb) – Biological detection systems firm PositiveID today reported a greater than 200 percent jump in revenues for 2015, primarily due to the receipt of a previously deferred licensee fee. However, the company still fell short of its own guidance.
For the 12-month period ended Dec. 31, PositiveID’s revenues ballooned to $2.9 million from $945,000 in 2014.
Approximately 90 percent of revenues for the year came from the license fee paid by Boeing, which agreed in late 2012 to pay $2.5 million for the exclusive rights to PositiveID’s M-BAND airborne bio-threat detector in North America. The remainder of the company’s revenues for 2015 were derived from the operations of laboratory and communication vehicle maker ENG Mobile Systems and non-contact thermometer developer Thermomedics, both of which PositiveID acquired in 2015.
Sourced through Scoop.it from: www.genomeweb.com