Revenue cycle management firm Accretive Health restated its 2013 results last week, showing that the company swung to a $130 million profit for the year, compared to a loss of nearly $120 million in 2012.
The reporting delay already cost the company its listing on the New York Stock Exchange, which delisted the firm in March 2014.
Accretive has yet to file its 2014 results.
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In addition to filing its 2013 financials, Accretive said it is moving to fix issues that led to the delay. According to the Chicago company, much of its revenue from existing accounts is recognized much later than the quarter where the transaction initially occurs. The company previously waited until the end of a contract to asses the value and revenue. The company said it will now credit the revenue to the quarter when the deal is struck.
Accretive pulled in nearly $505 million in revenue in 2013, compared to $72 million in 2012. The company also paid $34 million in costs tied to the restatement.