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Cepheid Q2 Revenues Raise 10%

Cepheid, a molecular diagnostics company, has reported revenues of $49.6m for the second quarter of 2010, an increase of approximately 10% when compared to $39.5m for the same period of 2009.

Cepheid has posted a net loss of $1.8m or $(0.03) per diluted share, for the second quarter of 2010, when compared to revenues of $41.0m and a net loss of $6.8m, or $(0.12) per share, for the second quarter of 2009.

Cepheid has also posted non-GAAP net income of $2.9m, or $0.05 per share for the second quarter of 2010, when compared to a non-GAAP net loss of $2.2m, or $0.04 per share, in the second quarter of 2009.

For the six months ended June 30, 2010, Cepheid has posted a net income of $977m, when compared to net income of $798m for the same period in 2009. The company has posted net loss of $614m when compared to net loss of $143m for the same period in 2009.

John Bishop, chief executive officer of Cepheid, said: “Second quarter highlights included record revenue and gross margin performance driven by the continued rapid adoption of our GeneXpert System in the clinical market.

“With our heavy royalty burden starting to ease in the third quarter, combined with our continued market growth, we have our eye firmly set on achieving sustainable profitability without compromising the research and development investment we are making to protect and grow our leadership position in molecular diagnostics.”

For the fiscal year ending December 31, 2010, the company expects the total revenue to be in the range of $200 to $205m, net loss in the range of $0.25 to $0.21 per share and non-GAAP net income to be in the range of $0.05 to $0.09 per share.