Despite what its CEO called a "challenging" 2012 rife with "growing pains," Cepheid last week reported a 15 percent increase in fourth-quarter year-over-year revenues and a 19 percent increase in full-year revenues.

Cepheid also provided an update on its recent manufacturing woes and its high-burden developing country program, noting that variables associated with these items affected the company's ability to make good on its 2012 guidance, and have been factored into Cepheid's guidance for the coming year.

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