SAN FRANCISCO, Oct. 23 – Cepheid on Tuesday posted third-quarter revenues of $2.8 million versus $2.3 for the same quarter a year ago, the company announced.
For the nine months ending September 30, 2001, revenue jumped 85 percent to $8.1 million compared to $4.4 million for the same period in 2000.
The company said the revenue increase was due to increased sales of its Smart Cycler DNA analysis systems, with sales increasing to $2 million from $1.6 million for the same quarter in 2000.
Cepheid, based in Sunnyvale, Calif., reported a net loss of $4.0 million, or 15 cents per share for the third quarter of 2001, compared to a net loss of $3.8 million, or 15 cents per share for the third quarter of 2000.
As of September 30, 2001, the company had $29.7 million in cash and cash equivalents.
Last week, Cepheid share price jumped due to interest in the company’s biothreat detection technology.