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Cepheid Reports Fourth Quarter and Full Year 2011 Results

g market conditions worldwide.  Readers should also refer to the section entitled "Risk Factors" in Cepheid's Annual Report on Form 10-K, its most recent Quarterly Report on Form 10-Q, and its other reports filed with the Securities and Exchange Commission.

All forward-looking statements and reasons why results might differ included in this release are made as of the date of this press release, based on information currently available to Cepheid, and Cepheid assumes no obligation to update any such forward-looking statement or reasons why results might differ.FINANCIAL TABLES FOLLOWCEPHEIDCONDENSED CONSOLIDATED UNAUDITED STATEMENTS OF OPERATIONS(in thousands, except per share data)Three Months Ended December 31, Years Ended December 31, 2011201020112010Revenues:System sales

46,416Reagent and disposable sales

56,57642,969203,576160,460Total product sales

76,94756,169265,524206,876Other revenues

3,1672,55712,0515,592Total revenues

80,11458,726277,575212,468Costs and operating expenses:Cost of product sales

38,63226,570122,840105,135Collaboration profit sharing

1,5821,0934,8636,806Research and development

16,65011,66659,36242,503Sales and marketing

14,49010,62650,69138,840General and administrative

10,1536,93236,00424,528Total costs and operating expenses

81,50756,887273,760217,812Income (loss) from operations

(1,393)1,8393,815(5,344)Other expense, net

(506)(346)(1,143)(992)Income (loss) before income taxes

(1,899)1,4932,672(6,336)Benefit from (provision for) income taxes

250(148)(45)419Net income (loss)

(5,917)Basic net income (loss) per share

(0.10)Diluted net income (loss) per share

(0.10)Shares used in computing basic net income (loss) per share

64,11360,41362,73559,712Shares used i

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