Clinical Sales Growth of 211 Percent Highlights Company Transition to
SUNNYVALE, Calif., Feb. 28 /PRNewswire-FirstCall/ -- Cepheid (Nasdaq:
CPHD) today announced financial results for the fourth quarter and full
year ended December 31, 2007.
Key results for the full year 2007:
-- Total revenues of $129.5 million, a 48 percent increase from
$87.4 million for the full year of 2006
- Total product sales of $116.5 million, a 41 percent increase from
$82.4 million for the full year of 2006
* Clinical product sales of $61.0 million, a 211 percent
increase from $19.6 million for the full year of 2006
-- Cumulative total of 2,008 diagnostic modules of the GeneXpert(R) System
installed in U.S. accounts and 561 installed in Europe as of
December 31, 2007
-- Net loss, excluding stock compensation expense and the amortization of
acquired intangibles, of $9.3 million, or $0.17 per share, compared to
$18.6 million, or $0.36 per share, for the full year 2006
"The year 2007 was a break-out year for Cepheid as we realized significant market traction with the only fully integrated system for on-demand PCR-based DNA testing in the clinical market," said John Bishop, Cepheid's Chief Executive Officer. "Moving into 2008, our momentum continues with the expansion of worldwide market penetration of the GeneXpert System into the three key MRSA market segments: surveillance, diagnosis and pre-surgical testing. We also expect to see expansion into additional Healthcare-Associated Infection (HAI) markets including tests for Vancomycin-resistant Enterococci (VRE) and C. difficile. We will also focus on expanding our test menu to address additional high-margin clinical segments, including oncology."
Fourth Quarter and Full Year 2007 Results:
Total revenues of $40.4 m
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