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Liberty Latin America swings to loss in Q1

Liberty Latin America Ltd. said its normalized net income for the first quarter amounted to a loss of $27.9 million, compared with income of $32.8 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 9.2% from 11.4% in the year-earlier period.

Total revenue grew 5.6% year over year to $303.9 million from $287.8 million, and total operating expenses rose on an annual basis to $238.2 million from $230.7 million.

Reported net income totaled a loss of $38.5 million, or a loss of 88 cents per share, compared to income of $32.6 million in the year-earlier period.