Cepheid Reaffirms Full Year Outlook - Quick Facts

(RTTNews) - Cepheid (CPHD) announced that, based on results to date, the company is reaffirming its fourth quarter and full year business outlook. The company continues to expect fourth quarter revenue in the range of $146 to $150 million, and fourth quarter loss per share of $0.19 to $0.17, as well as full year revenue in the range of $537 to $541 million, and full year net loss per share of $0.73 to $0.71 per share.

For full year 2016, the company expects revenue in the range of $618 to $635 million, growth of 15 to 18% compared to the midpoint of expected 2015 full year revenue of $537 to $541 million.

Cepheid said the company updated its 2017 outlook to a non-GAAP gross margin range of 56% to 58% and non-GAAP operating margin in the mid- to high-teens. This compares to the prior 2017 targets of approximately 60% non-GAAP gross margin and low-20s non-GAAP operating margin.

"While we are adjusting our 2017 outlook, we believe that we remain poised for a 'breakthrough' to profitability and are confident in our ability to transition to solid and sustainable operating margin even as we continue to target above industry growth rates," said John Bishop, Cepheid's Chairman and CEO.