Cepheid Reports Fourth Quarter and Full Year 20...(illion for the fourth quarter of 2007 in...)

Date:2/28/2008

illion for the fourth quarter of 2007 included $36.9 million of product sales and $3.5 million from contracts, grants and research revenue. Total product sales for the fourth quarter ended December 31, 2007 increased 71 percent from $21.6 million for the fourth quarter 2006. The increase in product sales for the fourth quarter 2007 reflects a 260 percent increase in clinical product sales, which more than offset a two percent decrease in biothreat sales and a 15 percent decrease in industrial sales, compared to the fourth quarter of 2006.

Total revenues of $129.5 million for the full year 2007 included $116.5 million of product sales and $13.0 million from contracts, grants and research revenue. The increase in product sales for 2007 reflects a 211 percent increase in clinical product sales, which more than offset a 15 percent decrease in biothreat sales compared to 2006. Industrial product sales remained essentially unchanged compared to 2006. Revenues in the clinical segment for 2007 were primarily driven by the U.S. market launch of the Xpert(TM) MRSA test in April 2007.

Product Sales by Market (millions)

Q4 2007 Q4 2006 FY 2007 FY 2006

Product Sales Product Sales Product Sales Product Sales

Clinical $22.2 $6.2 $61.0 $19.6

Biothreat $11.4 $11.6 $40.8 $48.0

Industrial $3.3 $3.8 $14.7 $14.8

"Product sales for 2007 reflect the overall transition of Cepheid's business towards the substantially larger, higher-growth and higher-margin clinical market," said John Bishop.

As of December 31, 2007, Cepheid installed a cumulative total of 247 GeneXpert Systems in the U.S. and 236 systems in Europe. These system placements constitute a total of 2,569 modules in Europe and the U.S. now running Xpert tests. Within the U.S., 88 of 247 system placements a
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SOURCE Cepheid Copyright©2008 PR Newswire. All rights reserved

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