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4,9656,523Amortization of terminated patent license and impairment of acquired intangible assets
1,3995,372Stock-based compensation related to employees and consulting services rendered
24,49619,768Changes in operating assets and liabilities:Accounts receivable
(6,443)(7,830)Inventory
(5,105)(23,982)Prepaid expenses and other current assets
(2,714)(237)Other non-current assets
(172)(122)Accounts payable and other current liabilities
(5,740)11,365Accrued compensation
(1,736)5,334Deferred revenue
575(2,084)Net cash provided by operating activities
2,92827,032Cash flows from investing activities:Capital expenditures
(23,150)(18,922)Cash paid for intangible asset
(2,140)-Payments for technology licenses
-(1,655)Cost of acquisitions, net
(24,021)(296)Net cash used in investing activities
(49,311)(20,873)Cash flows from financing activities:Net proceeds from the issuance of common shares and exercise of stock options
27,07935,857Proceeds from notes payable
156-Principal payment of notes payable
(72)(6,669)Net cash provided by financing activities
27,16329,188Effect of exchange rate change on cash
(9)123Net increase (decrease) in cash and cash equivalents
(19,229)35,470Cash and cash equivalents at beginning of period
115,00879,538Cash and cash equivalents at end of period
$ 95,779$ 115,008 CEPHEID
RECONCILIATION OF GAAP TO NON-GAAP MEASURES (UNAUDITED)(in thousands, except per share data)Three Months Ended
December 31,Years Ended
December 31,2012201120122011Cost of product sales$ 42,896$ 38,632$ 153,365$ 122,840 Stock compensation expense(808)(443)(3,037)(1,684) Impairment of i
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