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Cepheid Cuts Revenue Guidance for Year

Molecular-diagnostics company Cepheid Inc., citing lower-than-expected gross margin in the third quarter, lowered its full-year revenue guidance.

The company had a higher-than-projected proportion of sales for a lower-margin program that provides tuberculosis tests in developing countries, while commercial business was less than it projected.

In after-hours trading, Cepheid shares fell 13% to $34.40.