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Cepheid Reports 2009 Second Quarter Results
Date:7/30/2009

SUNNYVALE, Calif., July 30 /PRNewswire-FirstCall/ -- Cepheid (Nasdaq: CPHD) today reported revenue for the second quarter of 2009 of $41.0 million. Net loss was $6.8 million, or $(0.12) per share, which compares to revenue of $42.1 million and a net loss of $7.7 million, or $(0.13) per share, in the second quarter of 2008.

Excluding amortization of purchased intangible assets, stock compensation and restructuring expenses, non-GAAP net loss for the second quarter was $2.2 million, or $(0.04) per share. This compares to a non-GAAP net loss of $3.7 million, or $(0.06) per share, in the second quarter of 2008.

"Our Clinical reagent business demonstrated strong growth as expected, highlighting continued adoption of the GeneXpert System's expanding test menu which now includes six FDA-cleared products in the US and eleven CE-marked products outside the US," said John Bishop, Cepheid's Chief Executive Officer. "Despite the ongoing challenges in the broader economy, 105 GeneXpert Systems were placed during the second quarter, reflecting the unique aspects of the system in ease of use, accuracy of test results and efficient management of scarce and costly healthcare resources."

Operational Overview

  • Total product sales of $39.6 million in the second quarter of 2009 compared to $39.0 million in the second quarter of 2008. By industry, product sales were, in millions:

                                            Three Months Ended June 30,
                                          2009          2008         Change
                                          ----          ----         ------
           Clinical Systems               $5.7          $6.6           -14%
           Clinical Reagents              2
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