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Cepheid Reports 2013 First Quarter Results
Date:4/18/2013

er unforeseen supply, development and manufacturing problems; the potential need for additional intellectual property licenses for tests and other products and the terms of such licenses; lengthy sales cycles in certain markets; the Company's reliance on distributors in some regions to market, sell and support its products; the occurrence of unforeseen expenditures, acquisitions or other transactions; costs associated with litigation; the impact of competitive products and pricing; the Company's ability to manage geographically-dispersed operations; and underlying market conditions worldwide.  Readers should also refer to the section entitled "Risk Factors" in Cepheid's Annual Report on Form 10-K and its other reports filed with the Securities and Exchange Commission.

All forward-looking statements and reasons why results might differ included in this release are made as of the date of this press release, based on information currently available to Cepheid, and Cepheid assumes no obligation to update any such forward-looking statement or reasons why results might differ.

FINANCIAL TABLES FOLLOWCEPHEIDCONDENSED CONSOLIDATED UNAUDITED STATEMENTS OF OPERATIONS(in thousands, except per share data)Three Months Ended March 31, 20132012Sales:System and other sales

$
,010$
5,230Reagent and disposable sales

75,92862,062Total sales

91,93877,292Costs and operating expenses:Cost of sales 

42,89235,608Collaboration profit sharing 

2,1101,684Research and development

17,72722,102Sales and marketing

19,12614,512General and administrative

9,76311,051Total costs and operating expenses 

91,61884,957Income (loss) from operations 

320(7,665)Other income, net

374238Income (loss) before income taxes

694(7,427)Benefit from (provision for) income taxes

(381)1,901Net income (loss)

$
313$
(5,526)Basic net income (
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