UPDATE 1-Cepheid posts wider Q2 loss, cuts '08 view; shares fall

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July 24 (Reuters) - Cepheid (CPHD.O: Quote, Profile, Research, Stock Buzz), which makes genetic analysis systems, posted a wider-than-expected quarterly loss as it was hurt by weak non-core clinical sales of products, and slashed its full-year outlook, sending its shares down as much as 26 percent after the bell.

"We expect non-core clinical sales of products to other companies to continue to be below our expectations for the remainder of 2008," CEO John Bishop said in a statement.

For the second quarter, net loss was $7.5 million, or 13 cents a share, compared with a loss of $5.2 million, or 10 cents a share, a year ago.

Revenue rose 55 percent to $42.1 million, but was dragged by a 49 percent jump in total costs and operating expenses.

Analysts on an average expected a loss of 6 cents a share, before special items, on revenue of $44.7 million, according to Reuters Estimates.

The company forecast a wider full-year loss of 35 cents to 38 cents a share, compared with its prior view of a loss of 18 cents to 21 cents a share.

Excluding items, it now expects to post a loss of 7 cents to 10 cents a share, down from its previous profit view of 5 cents to 8 cents a share.

Cepheid lowered its revenue view for the period to between $173 million and $177 million, from the $183 million to $190 million it had forecast earlier.

Shares of the Sunnyvale, California-based company fell to $20.00 in after-hours trading. The stock closed at $27.19 Thursday on Nasdaq. (Reporting by Vidya L Nathan in Bangalore; Editing by Himani Sarkar)