GeneXpert(R) System Momentum Drives 71% Year-Over-Year Growth in Core
SUNNYVALE, Calif., Oct. 28 /PRNewswire-FirstCall/ -- Cepheid (Nasdaq: CPHD) today reported revenue for the third quarter of 2008 of $44.9 million, an increase of 24% over the third quarter of fiscal 2007. Net loss was $6.5 million, or $(0.11) per share, which compares to revenue of $36.3 million and a net loss of $4.7 million, or $(0.09) per share, in the third quarter of fiscal 2007.
Excluding amortization of purchased intangible assets and stock compensation expenses, non-GAAP net loss for the third quarter was $2.3 million, or $(0.04) per share. This compares to a non-GAAP net loss of $1.5 million, or $(0.03) per share, in the third quarter of fiscal 2007.
"With very strong North American system placements and record MRSA test
revenue, our third quarter results highlight the continued momentum of
Cepheid's industry-leading GeneXpert System," said John Bishop, Cepheid's
Chief Executive Officer. "Approximately 74% of North American system
placements in the third quarter were various configurations of our GX-16
which should help to position accounts to take full advantage of our
rapidly-developing test menu. With the two additional Xpert(TM) tests
cleared by the FDA within the last month, and an aggressive development
pipeline that expands beyond Healthcare Associated Infections into women's
health, critical infectious disease and oncology, our GeneXpert System is
rapidly earning its reputation as the molecular platform of choice for
-- Total product sales increased 25% to $42.4 million, from $34.0 million
in the third quarter of fiscal 2007. By industry, product sales were,
Three Months Ended September 30
2008 2007 Change
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