AquaChile SA said its third-quarter normalized net income was a loss of $9.7 million, compared with a loss of $278,000 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 7.2% from negative 0.2% in the year-earlier period.

Total revenue decreased 14.7% year over year to $134.7 million from $157.9 million, and total operating expenses fell 5.9% on an annual basis to $149.6 million from $158.9 million.

Reported net income totaled a loss of $20.7 million, or a loss of 2 cents per share, compared to a loss of $1.9 million, or a loss of 0 cents per share, in the prior-year period.