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

f acquisitions; the impact of competitive products and pricing; the company's ability to manage geographically-dispersed operations; and underlying market conditions worldwide. Readers should also refer to the section entitled "Risk Factors" in Cepheid's Annual Report on Form 10-K for 2008, 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.

    CONTACTS:
    For Media Inquiries:                       For Investor Inquiries:
    --------------------                       -----------------------
    Jared Tipton                               Jacquie Ross
    Cepheid Corporate Communications           Cepheid Investor Relations
    Tel: (408) 400 8377                        Tel: (408) 400 8329
    jared.tipton@cepheid.com                   investor.relations@cepheid.com

                              FINANCIAL TABLES FOLLOW


                                     CEPHEID

             CONDENSED CONSOLIDATED UNAUDITED STATEMENTS OF OPERATIONS
                        (in thousands, except per share data)

                                  Three Months Ended     Six Months Ended
                                       June 30,              June 30,
                                       --------              --------
                                  2009         2008      2009        2008
                                  ----         ----      ----        ----
                                               As               
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