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Cepheid Reports Fourth Quarter and Full Year 2008 Results
Date:2/5/2009

(21,210) Income tax benefit (expense) 161 (213) 911 (213) --- ----- --- ----- Net loss $(5,878) $(5,288) $(21,713) $(21,423) ======== ======== ========= ========= Basic and diluted net loss per share $(0.10) $(0.10) $(0.38) $(0.39) ======== ======== ======== ======== Shares used in computing basic and diluted net loss per share 57,648 55,529 57,101 55,263 ====== ====== ====== ======


                                     CEPHEID

                  CONDENSED CONSOLIDATED UNAUDITED BALANCE SHEETS
                              (in thousands)

                                                    December 31,  December 31,
                                                         2008          2007
                                ASSETS
    Current assets:
       Cash and cash equivalents                        $23,478       $16,476
       Restricted cash                                    1,500             -
       Marketable securities                                  -        27,550
       Accounts receivable, net                          18,952        21,263
       Inventory                                         33,498        23,821
       Prepaid expenses and other current assets          4,636         2,565
                                                          -----         -----
    Total current assets                                 82,064        91,675
    Property and equipment, net                          24,109        17,174
    Investments                                          24,539             -
    Other non-current assets                  
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