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Cepheid Reports 2011 First Quarter Results
Date:4/20/2011

SUNNYVALE, Calif., April 20, 2011 /PRNewswire/ -- Cepheid (Nasdaq: CPHD) today reported revenue for the first quarter of 2011 of $60.2 million.  Net income was $0.5 million, or $0.01 per share, which compares to revenue of $48.0 million and a net loss of $4.3 million, or $(0.07) per share, in the first quarter of 2010.

Excluding amortization of purchased intangible assets and employee stock-based compensation expense, non-GAAP net income for the first quarter was $5.4 million, or $0.08 per share.  This compares to a non-GAAP net loss of $0.2 million, or $(0.00) per share, in the first quarter of 2010.

"Growth in our Clinical business continued in the first quarter as our GeneXpert® system continues to gain recognition as the most technologically advanced and innovative molecular platform available," said John Bishop, Cepheid's Chief Executive Officer.  "With more than 2,000 placements globally, the GeneXpert system is proving itself to be a key workhorse in both developed and developing country markets.  The system's unique combination of accuracy, ease-of-use, speed and flexibility is unmatched in the marketplace today."

Operational Overview

  • Total product sales of $57.6 million in the first quarter of 2011 compared to $47.2 million in the first quarter of 2010.  By business, product sales were, in millions:

  • Three Months Ended March 31,20112010ChangeClinical Systems

    $ 11.6$   9.720%Clinical Reagents

    38.629.631%Total Clinical 50.239.328%Non-Clinical

    7.47.9-6%Total Product Sales$ 57.6$ 47.222%

  • By geography, product sales were, in millions:

  • Three Months Ended March 31,20112010ChangeNorth AmericaClinical

    $ 36.3$ 31.017%Non-Clinical

    5.96.1-4%Total North America42.237.114%InternationalClinical

    13.98.368%Non-Clinical

    1.51.8-15%To
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    SOURCE Cepheid
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