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Cepheid 2Q loss narrows on product sales

Fri, 07/23/2010 - 7:46am
The Associated Press

Molecular diagnostics testing company Cepheid said its second-quarter loss narrowed on a boost in revenue from testing products.

The company reported a net loss of $1.8 million, or 3 cents per share, for the April-June period compared with a loss of $6.8 million, or 12 cents per share, a year ago.

Revenue rose 21 percent to $49.6 million from $41 million.

Analysts polled by Thomson Reuters expected a loss of 10 cents per share on revenue of $49.3 million.

The company said in it news release after the markets closed Thursday that it expects a loss of between 21 cents and 25 cents per share on revenue between $200 million and $205 million in 2010.

Analysts expect a loss of 25 cents per share on revenue of $205.7 million.

Its shares rose 85 cents, or 5.8 percent, to $15.62 in morning trading Friday.

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