Accretive Health, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reaffirms Cash Flow Guidance for the Second Half and Full Year 2015
For the year to date, the company's net services revenue was $33,056,000 compared to $71,939,000 a year ago. Loss from operations was $92,119,000 compared to $111,827,000 a year ago. Loss before income tax provision was $92,045,000 compared to $111,675,000 a year ago. Net loss was $56,733,000 or $0.59 basic and diluted share, compared to $71,522,000 or $0.75 basic and diluted share, a year ago. Net cash used in operating activities was $19,183,000 compared to $73,285,000 a year ago. Purchases of property, equipment and software were $8,348,000 compared to $1,650,000 a year ago.
The company's guidance remains unchanged at $230 million, $240 million for gross cash generated, and the company continues to expect net cash generated to be at the lower end of $30 million to $40 million guidance range.
The company expects gross and net cash generated to be higher in the second half of 2015 due to the seasonality of incentive fee collections and improvements in net operating fees.