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news.Cepheid, an on-demand molecular diagnostics company, has reported a net loss of $5.9 million, or $0.10 per share, for the fourth quarter of fiscal 2008, compared to $5.3 million, or $0.10 per share, in the fourth quarter of fiscal 2007.
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For the fourth quarter of fiscal 2008, revenues were $37.8 million, compared to $40.4 million in the same quarter of fiscal 2007.
For the full fiscal year ended December 31, 2008, revenues were $169.6 million, an increase of 31%, compared to $129.4 million posted in fiscal 2007. Net loss was $21.7 million, or $0.38 per share, compared to $21.4 million, or $0.39 per share, in 2007.
John Bishop, CEO of Cepheid, said: “Despite a challenging selling environment driven by increasing economic uncertainty as the year ended, continued adoption of our GeneXpert systems and Xpert tests drove full year growth of 112% in our Core Clinical business.
Full year growth of more than 400% for our Xpert MRSA test positions us as the leader in molecular testing for Healthcare Associated Infections, and we enter 2009 with a broadened, and expanding, test menu that we believe will enable continued adoption of our GeneXpert system even in today’s tough economic environment.”