Cepheid Reports Q4, 2009 Results
Posted: January 29, 2010
Cepheid reported revenue for the fourth quarter of 2009 of $49.2 million. Net loss was $4.3 million, or $(0.07) per share, which compares to revenue of $37.8 million and a net loss of $6.0 million, or $(0.10) per share, in the fourth quarter of fiscal 2008. Excluding amortization of purchased intangible assets and stock compensation expenses, non-GAAP net income for the fourth quarter of fiscal 2009 was $0.3 million, or $0.01 per share. This compares to a non-GAAP net loss of $2.5 million, or $(0.04) per share, in the fourth quarter of fiscal 2008.
For the full fiscal year ended December 31, 2009, Cepheid reported revenue of $170.6 million. Net loss for the full year was $22.5 million, or $(0.39) per share, which compares to a net loss of $22.4 million, or $(0.39) per share in 2008. Excluding amortization of purchased intangible assets and stock compensation expenses, non-GAAP net loss for the full year was $5.0 million, or $(0.09) per share. This compares to a non-GAAP net loss of $7.1 million, or $(0.13) per share, for the full year 2008.
"Increasing recognition of the accuracy and ease of use of our GeneXpert System, coupled with one of the broadest menus of rapid molecular tests available on the market, resulted in year-over-year growth of 28% in our clinical business," said John Bishop, Cepheid's chief executive officer. "During 2010, we expect our clinical business will continue to grow rapidly, as we build on our leadership position in molecular diagnostic testing for healthcare associated infections and further extend our women's health test menu and our menu for other critical infectious diseases."