Cepheid Slips To Loss In Q2; Cuts FY13 Adj. EPS Outlook

(RTTNews) - Cepheid (CPHD) reported second-quarter net loss of $6.6 million, or $0.10 per share, compared to net income of $1.1 million, or $0.02 per share, last year.

Excluding employee stock-based compensation and amortization of purchased intangible assets, adjusted net income was $1.2 million, or $0.02 per share, down from $7.9 million or $0.11 per share in the previous year quarter.

Revenues were $96.01 million, up 19% from $81.02 million last year.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share on revenue of $92.57 million for the quarter. Analysts' estimates typically exclude special items.

For the fiscal year ending December 31, 2013, the company expects loss in the range of $0.30 to $0.27 per share, adjusted net income in the range of $0.18 to $0.21 per share and total revenue in the range of $380 million to $385 million. Analysts expect the company to report breakeven per share on revenue of $382.51 million.

Earlier, the company expected per share results in a range between a net loss of $0.05 to profit of $0.01, adjusted net income in the range of $0.41 to $0.46 per share and total revenue to be in the range of $375 million to $385 million.