Jan. 26 (Bloomberg) -- Cepheid Inc., maker of a rapid test for a drug-resistant staph infection known as MRSA, reported fourth-quarter earnings that beat analysts’ estimates, sending shares 19 percent higher in extended trading.
The Sunnyvale, California-based company had earnings excluding certain items of 14 cents a share, compared with an average estimate of 4 cents from 12 analysts compiled by Bloomberg. Shares rose $6.66 to $41.01 at 4:33 p.m. New York time after closing at $34.35.
Revenue jumped 36 percent to $80.1 million, on demand for its Xpert tests. Methicillin-resistant Staphylococcus aureus, or MRSA, is primarily a hospital-acquired infection that sickens about 90,000 Americans annually, killing about 15,000, according to the U.S. Centers for Disease Control and Prevention.
“The demand for our GeneXpert systems has continued to grow in spite of continuing tight capital availability in the U.S. and Europe,” said John Bishop, chief executive officer of Cepheid, in a statement.
Cepheid had a net loss of $1.6 million, or 3 cents a share, reflecting a one-time charge associated with the end of a patent license, from net income of $1.3 million, or 2 cents a share, a year earlier, the company said in a statement.
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