Cepheid Loss Widens; Sees Bigger-than-expected Loss In 2015

(RTTNews) - Cepheid (CPHD), a molecular diagnostics company, on Thursday reported second-quarter net loss of $16.7 million or $0.23 per share compared with a loss of $9.8 million or $0.14 per share last year.

Analysts polled by Thomson Reuters estimated a loss of $0.21 per share for the quarter.

Excluding stock-based compensation expense and other one-time items, adjusted loss for the quarter was $0.06 per share compared with earnings of $0.03 per share a year ago.

Revenues for the quarter were $132.5 million compared with $116.5 million in the prior year. Analysts estimated revenues of $130.7 million.

Operating expenses for the quarter increased to $143.2 million from $122.1 million last year.

Further, foreign currency losses totaled $1.5 million for the quarter.

For the fiscal year 2015, Cepheid now expects net loss of $0.51 to $0.47 per share compared with prior guidance of a loss of $0.47 to $0.43 per share; it continues to expect adjusted earnings of $0.25 to $0.29 per share.

It lifted the lower end of its 2015 revenue guidance by $2 million, now projecting a range of $544 million to $553 million.

Analysts expect a loss of $0.44 per share on revenues of $551.3 million in 2015.