VeriChip Corporation ("VeriChip or the "Company) (Nasdaq:CHIP), a provider of RFID systems for healthcare and patient-related needs, announced today that it expects revenues for 2007 at the high-end of the Company's previously released guidance of $30-32 million. During the fourth quarter of 2007, the Company continued to experience strong sales of its healthcare security products, specifically its infant protection and wander prevention systems.
Scott R. Silverman, Chairman and Chief Executive Officer of VeriChip, said, "I am very pleased with the robust growth of our infant protection and wander prevention systems. I am also proud of our focus on performance and delivering results above expectations. Looking back at 2007, VeriChip met or exceeded every qualitative and quantitative measure it established, including the number of hospitals enrolled in our VeriMedâ„¢ Patient Identification System and the number of protocol-adopted facilities.
About VeriChip
VeriChip Corporation, headquartered in Delray Beach, Florida, develops, markets and sells radio frequency identification, or RFID, systems used to identify, locate and protect people and assets. VeriChip's goal is to become the leading provider of RFID systems for people in the healthcare industry. The Company recently began marketing its VeriMed(TM) Patient Identification System, a passive RFID system for rapidly and accurately identifying people who arrive in an emergency room and are unable to communicate. This system uses the first human-implantable passive RFID microchip, the implantable VeriChip(TM), cleared for medical use in October 2004 by the United States Food and Drug Administration.
For more information on VeriChip, please call 1-800-970-2447, or email info@verichipcorp.com. Additional information can be found online at http://www.verichipcorp.com.
Statements about the Company's future expectations, including future revenues and earnings, 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 the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.