NEW YORK, Jan. 29 (GenomeWeb News) - Cepheid reported preliminary fourth-quarter results today, in which revenues increased amid widened net losses.
The company, which plans to formally announce its fourth quarter earnings Feb. 17, said its revenues increased to $4.9 million for the quarter, up from $3.7 million for the same period of 2002. Net losses meanwhile increased to $4.5 million, from $3.5 million in the year-ago quarter.
Cepheid also said its product sales for 2004 would be between $42 and $46 million, and would be weighted toward the second half of the year. Net loss, it projected, would be between $10.5 and $12.5 million.
Cepheid, of Sunnyvale, Calif, did not say why it was pre-releasing earnings and forecasts.