Corporate Banner
Satellite Banner
Molecular & Clinical Diagnostics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Cepheid Reports Q4 Full Year 2013 Results

Published: Monday, February 03, 2014
Last Updated: Monday, February 03, 2014
Bookmark and Share
Company reports revenues for Q4 2013 of $113.3 million.

Net loss was $10.3 million, or $(0.15) per share, which compares to revenue of $92.4 million and net income of $5.6 million, or $0.08 per share, in the fourth quarter of 2012.  Fourth quarter results for 2013 included a $4.4 million, or $0.06 per share, charge primarily associated with a small, non-core restructuring and impairment of certain assets resulting from a realignment of operations.

Excluding stock compensation expenses, the restructuring expense (which includes an impairment of certain assets), and amortization of acquired purchased intangible assets, non-GAAP net income for the fourth quarter of 2013 was $2.3 million, or $0.03 per share.  This compares to a non-GAAP net income of $14.2 million, or $0.20 per share, in the fourth quarter of 2012.

Fiscal 2013 Overview
For the year ended December 31, 2013, Cepheid reported revenue of $401.3 million which compares to revenue of $331.2 million in 2012.  Net loss for the year was $18.0 million, or $(0.27) per share, which compares to net loss of $20.0 million, or $(0.30) per share, in 2012 which included a charge of $15.1 million, or $0.23 per share, associated with a litigation settlement.

Excluding stock compensation expenses, the restructuring expense (which includes impairment of certain assets), and amortization of acquired purchased intangible assets, non-GAAP net income for the year was $17.9 million, or $0.26 per share.  This compares to a non-GAAP net income of $21.8 million, or $0.31 per share, for the full year 2012, which excluded stock compensation expenses, the amortization of purchased intangible assets, a litigation settlement and a tax benefit related to an intercompany intellectual property transaction.

"Clinical test revenue grew 25% in 2013, with notable strength in our Commercial Clinical Xpert reagents which grew 22%," said John Bishop, Cepheid's Chairman and Chief Executive Officer.  "We also placed a record number of GeneXpert systems in 2013, with strength in both our commercial and HBDC businesses, demonstrating the impact of our rapidly expanding Xpert test menu and global sales footprint."

Continued Bishop, "Adoption of our high throughput Infinity system increased with a record 52 shipments in 2013, including 23 in the fourth quarter, further highlighting Cepheid's position as a platform consolidator within the molecular diagnostics market.  With a menu of 14 tests and growing, we believe the innovative GeneXpert system is the most compelling choice for labs of all sizes looking to leverage accurate and fast diagnostics without the costs and complexities traditionally associated with molecular technologies."


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,400+ scientific posters on ePosters
  • More than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Cepheid Receives FDA Clearance for Xpert Norovirus
Xpert Norovirus is the first on-demand molecular test for detection of Norovirus, providing accurate Norovirus detection in as little as one hour.
Monday, December 01, 2014
Cepheid Awarded Funding To Develop Xpert Ebola
With Funding from the Paul G. Allen Family Foundation and the Bill & Melinda Gates Foundation, Cepheid expects to deliver prototype in as little as eight weeks.
Friday, November 14, 2014
Cepheid to Sponsor BASHH 2013 Spring Meeting
Cepheid is helping to bring together prominent scientists and clinicians from across the UK at the British Association for Sexual Health and HIV (BASHH) 2013 Spring Meeting.
Tuesday, May 07, 2013
Cepheid Announces Chlamydia and N. gonorrhoeae Test Categorized 'Moderate Complexity' by FDA
The test runs on Cepheid's GeneXpert® Systems and is the first and only molecular CT/NG test to be categorized as Moderately Complex.
Tuesday, January 22, 2013
Cepheid and FIND Announce Collaboration to Develop HIV Viral Load Test
Company’s collaborate to accelerate the development of a rapid molecular test for the measurement of human immunodeficiency virus viral load.
Wednesday, February 09, 2011
Scientific News
Diagnostic Test Developed for Enterovirus D68
researchers at Washington University School of Medicine in St. Louis have developed a diagnostic test to quickly detect enterovirus D68 (EV-D68), a respiratory virus that caused unusually severe illness in children last year.
Tracking Breast Cancer Before it Grows
A team of scientists led by University of Saskatchewan researcher Saroj Kumar is using cutting-edge Canadian Light Source techniques to screen and treat breast cancer at its earliest changes.
The Light of Fireflies for Medical Diagnostics
EPFL scientists have exploited the light of fireflies in a new method that detects biological molecules without the need for complex devices and high costs.
Could a simple saliva test detect Alzheimer's?
Researchers have presented findings suggesting that a simple, non-invasive diagnostic for Alzheimer's could be within reach.
Cheap Diagnostics with a Portable "Paper Machine"
Scientists have developed a cheap, portable system for point of care diagnostics for a range of infectious diseases, genetic conditions and cancer.
New Variant of Streptococcal Bacteria
Scientists have discovered a new variant of streptococcal bacteria that has contributed to a rise in disease cases in the UK over the last 17 years.
New Insights into “Antenna” of Human Cells
Scientists from the University of Leeds have uncovered the most comprehensive list yet of genes implicated in a group of common inherited diseases.
Discordant NIPT Test Results May Reflect Presence of Maternal Cancer
Results published in Journal of the American Medical Association.
Sperm RNA Test May Improve Evaluation of Male Infertility
To help resolve uncertainty—and guide prospective parents to the right fertility treatments—scientists propose the use of a new kind of fertility test. It involves examining sperm RNA by means of next-generation sequencing.
Optical 'Dog's Nose' Developed to Detect Cancer, Other Diseases
Researchers are using optical spectroscopy to develop a quick, non-invasive “breath test” they believe will have the potential to screen for a variety of diseases, including diabetes, infections and cancers.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,400+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!