Cepheid Reports Fourth Quarter and Full Year 20...(rewithin Veterans Administration account...)

Date:2/28/2008

re within Veterans Administration accounts. At the end of 2007, accounts in the U.S. had an average of 8.1 modules installed in their GeneXpert Systems, while accounts in Europe had an average of 2.4, up from 8.0 and 2.2 respectively from September 30, 2007. New Xpert MRSA accounts typically take approximately six weeks to ship, install and complete lab validation processes on a new GeneXpert System, and another two to four months for an account to implement surveillance procedures into workflows and ramp-up test utilization.

Systems and Reagent Sales Mix (millions)

Q4 2007 Q4 2006 FY 2007 FY 2006

Product Sales Product Sales Product Sales Product Sales

Systems $15.6 $6.9 $47.7 $22.7

Reagents &

Disposables $21.3 $14.7 $68.8 $59.7

For the fourth quarter of 2007, gross margin on product sales, including stock compensation expense and the amortization of acquired intangibles, was 42 percent, which is the same as the fourth quarter of 2006. Gross margin on product sales, excluding stock compensation expense and the amortization of acquired intangibles, was 43 percent for the fourth quarter of 2007, which is the same as the fourth quarter of 2006.

For the full year 2007, gross margin on product sales, including stock compensation expense and the amortization of acquired intangibles, was unchanged at 41 percent compared to 2006. Gross margin on product sales, excluding stock compensation expense and the amortization of acquired intangibles, for the full year 2007 was 42 percent, compared to 41 percent for the full year 2006.

Net loss for the fourth quarter of 2007, including stock compensation expense and the amortization of acquired intangibles, was approximately $5.3 million, or $0.10 per share, as compared to a net loss of approximately $8.3 million, or $0.15 per share, for the four
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