NEW YORK (GenomeWeb News) – Cepheid reported on Thursday afternoon that its first-quarter revenue fell 13 percent year over year, largely due to a 45 percent drop in system sales.

The firm brought in revenues of $38.8 million for the three-month period ended March 31, compared to revenues of $44.8 million in the first quarter of 2008.

System sales dropped to $7.9 million from $14.3 million year over year, while sales of reagents and disposables increased 4 percent to $28.7 million from $27.6 million.

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