SUNNYVALE, Calif., — Cepheid (Nasdaq: CPHD) today announced preliminary revenue results for the 2012 Third Quarter, ending September 30, 2012.

Based on current projections, Third Quarter revenue is expected to be in the range of $79 to $81 million, lower than targeted due primarily to intermittent interruptions in the supply of Xpert cartridge parts. The parts availability is being addressed and Cepheid is working aggressively to ship orders. However, the company currently expects to exit the quarter with more than $5 million in backorders expected to be fulfilled by the end of October.

“Demand for our Xpert family of molecular tests continues to grow at a fast pace while we simultaneously scale-up our next

generation manufacturing operations intended to support our anticipated cartridge demand,” said John L. Bishop, Cepheid’s

Chief Executive Officer. “During the Third Quarter, parts issues arose as we were developing higher capacity production tools and processes, limiting our ability to manufacture at the volumes necessary to meet growing demand. We have notified

customers that we are working diligently to fulfill orders as quickly as possible, but this will take several more weeks, pushing fulfillment of some orders from the Third Quarter into the Fourth Quarter.”

Continued Bishop, “Excluding this event, Cepheid would have been positioned to deliver total revenue in the range of $84 to

$86 million. While there are still a few days left in the quarter, we expect total revenue will reflect a strong contribution from HBDC following the completion of the first buy-down agreement in early August and continued growth in commercial test sales, although we expect this strong performance will be partially offset by weaker US commercial system sales associated with a more challenging capital environment.”

Based primarily on growing test demand, the company continues to expect total revenue to be in the range of $333 to $347

million for the full fiscal year ending December 31, 2012. The company will update its bottom line guidance during its regularly scheduled Third Quarter conference call on Thursday, 18 October, 2012.

Webcast of Cepheid Analyst Event Cepheid will discuss this and other matters during its 2012 Analyst Event taking place in New York on Thursday, 27 September, 2012, starting at 8 a.m. Eastern Time. Cepheid’s Analyst Event is being webcast live, accessible from the company’s website at https://ir.cepheid.com.

Cepheid’s Third Quarter Results’ Conference Call

With reference to the company’s 2012 Third Quarter results, the company will host a management presentation at 2:00 p.m.

Pacific Time on Thursday, October 18, 2012. To access the live webcast, please visit Cepheid’s website at

https://ir.cepheid.com at least 15 minutes before the scheduled start time to download any necessary audio or plug-in software.

A replay of the webcast will be available shortly following the call and will remain available for at least 90 days.

About Cepheid

Based in Sunnyvale, Calif., Cepheid (Nasdaq: CPHD) is a leading molecular diagnostics company that is dedicated to improving healthcare by developing, manufacturing, and marketing accurate yet easy-to-use molecular systems and tests. By automating highly complex and time-consuming manual procedures, the company’s solutions deliver a better way for institutions of any size to perform sophisticated genetic testing for organisms and genetic-based diseases. Through its strong molecular biology capabilities, the company is focusing on those applications where accurate, rapid, and actionable test results are needed most,

such as managing infectious diseases and cancer. For more information, visit https://www.cepheid.com.