May 5, 2011 / 12:13 PM / in 6 years

UPDATE 1-QLT swings to loss on higher expenses

(In U.S. dollars unless noted)

TORONTO, May 5 (Reuters) - Canadian biotechnology company QLT Inc QLT.TO QLTI.O swung to a quarterly net loss on Thursday, from a year-ago profit, due to higher expenses.

The company posted a first-quarter net loss of $8.5 million, or 17 cents a share, compared with a profit of $3.4 million, or 6 cents a share, a year earlier. Excluding special items, it broke even on a per-share basis.

Revenue fell 35 percent to $8.9 million. (Reporting by S. John Tilak, editing by Maureen Bavdek)

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