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Cepheid s Q1 Revenues More Than Double, Losses Narrow

NEW YORK, May 5 (GenomeWeb News) - Cepheid yesterday reported more than doubled revenues for the first quarter of 2005, while the company's net loss narrowed.

 

Revenues for the quarter increased to $19.6 million from $7.3 million during the same quarter last year. Most of this boost resulted from increased sales of reagents and disposables, Cepheid said.

 

Research and development costs climbed to $4.5 million from $3.6 million during the same period a year ago.

 

Cepheid's net loss narrowed to $3.5 million, or $.08 per share, from $4.1 million, or $.11 per share, during the year-ago period.

 

As of March 31, Cepheid had $21.4 million in cash and cash equivalents, and $33.5 million in marketable securities.

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