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Cepheid Revenues Up 175 percent in Q2

NEW YORK, Aug. 5 (GenomeWeb News) - Cepheid late yesterday reported a 175 percent increase in second-quarter revenues, driven primarily by sales related to the United States Postal Service Biohazard Detection System.


The Sunnyvale, Calif.-based company posted revenues of $11.3 million, compared to revenues of $4.1 million in the second quarter of fiscal 2003. It posted a net loss for the quarter of $3.7 million, or $.09 per share, down from a net loss of $4.4 million, or $.14 per share, in the corresponding period last year.


Cepheid's gross margins remained constant with last year's second quarter at 42 percent.


During the quarter, the firm inked licensing deals with Applera firms Applied Biosystems and Celera Diagnostics, as well as F. Hoffmann-La Roche.


Cepheid expects its total fiscal 2004 revenues to be in the range of $42 million to $46 million, and its net loss to be in the range of $10.5 million to $12.5 million, or $.25 to $.30 per share.

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