DELRAY BEACH, Fla., July 12, 2010 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or the "Company") (Nasdaq:PSID) announced today that its identity security business, which offers credit reporting, credit scores and credit monitoring services under the NationalCreditReport.com brand to help protect consumers from identity theft, achieved record billings and subscriber growth for the month of June. Total June billings were more than $265,000 and NationalCreditReport.com's total subscribers now exceed 24,000.
According to Javelin Strategy and Research's 2010 Identity Fraud Survey Report, more than 11 million Americans fell victim to identity theft in 2009, and the total annual fraud amount increased by 12.5 percent to $54 billion. Javelin Strategy and Research has also reported that 50.2 million Americans were using a credit monitoring service as of September 2008, amounting to a $6 billion to $9 billion industry on an annual basis.
Scott R. Silverman, Chairman and CEO of PositiveID, said, "Over the past year and a half since we commenced our marketing efforts within our identity security business, we have maintained steady revenue and subscriber growth. Our focus has always been to acquire new customers cost-effectively and keep those subscribers for the long term. We believe our NationalCreditReport.com business provides an important service for consumers to help protect their vital personal and financial information."
About PositiveID Corporation
PositiveID Corporation develops and markets healthcare and information management products through its RFID-based diagnostic devices and identification technologies, and its proprietary disease management tools. PositiveID operates in two main divisions: HealthID and ID Security. For more information on PositiveID, please visit www.PositiveIDCorp.com.
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Statements about PositiveID's future expectations, including the ability of the Company to continue to increase subscribers at its NationalCreditReport.com subsidiary, acquire new customers cost effectively, and keep subscribers for the long term, the likelihood that identity theft and the credit monitoring industry will continue to grow, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and PositiveID's actual results could differ materially from expected results. These risks and uncertainties include the continued growth of its NationalCreditReport.com subsidiary as well as certain other risks. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on March 19, 2010, and the Company's 10-Q filed on May 6, 2010, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.