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Cepheid Reports 2013 Second Quarter Results
Date:7/18/2013

SUNNYVALE, Calif., July 18, 2013 /PRNewswire/ -- Cepheid (Nasdaq: CPHD) today reported revenues for the second quarter of 2013 of $96.0 million, representing growth of 19% from $81.0 million for the second quarter of 2012.  Net loss in the second quarter of 2013 was $6.6 million, or $(0.10) per share, which compares to net income of $1.1 million, or $0.02 per share, in the second quarter of 2012. 

Excluding employee stock-based compensation and amortization of purchased intangible assets, non-GAAP net income for the second quarter of 2013 was $1.2 million, or $0.02 per share.  This compares to non-GAAP net income of $7.9 million, or $0.11 per share, in the second quarter of 2012.

As discussed in Cepheid's press release dated July 11, 2013, second quarter results reflect an unanticipated inventory reserve of approximately $3.0 million, which impacted earnings per share by approximately $0.04. 

"With a record 435 systems placed in the second quarter, it is clear that the GeneXpert® system is gaining momentum in both commercial and HBDC markets as the molecular platform of choice," said John Bishop, Cepheid's Chairman and Chief Executive Officer.  "With backorders of Xpert® test cartridges now behind us, and with new leadership and a new organizational structure in manufacturing operations, we are investing aggressively and driving across-the-board improvements to ensure that Cepheid is well prepared to effectively manage the growing demand for our rapidly expanding Xpert test menu." 

Operational Overview

  • By business, total sales were, in millions:
  • Three Months Ended June 30,20132012ChangeClinical Systems

    $
    .7$
    3.920%Clinical Reagents

    70.855.827%Total Clinical 87.569.726%Non-Clinical & Other

    8.511.3-25%Total Sales$
    96.0$
    81.019%


  • By geograph
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  • SOURCE Cepheid
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