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NII Holdings

NII Swings to 1st-Quarter Loss on Expenses For Networks Deployment

NII Holdings Inc. (NIHD) swung to a first-quarter loss as the Latin American wireless operator posted higher expenses related to the deployment of 3G networks, as well as weaker revenue.However, shares rose 9.6% to $9.13 in recent premarket trading as Chief Executive Steve Shindler said the company is tracking well on its goals for the year. The stock is down 36% over the past 12 months.Mr. Shindler said NII Holdings continues to focus on completing its next-generation networks in Mexico and Brazil, improving its operational performance and realigning business operations.The company, which provides wireless service under the Nextel brand in several Latin American countries, has said it plans this year to continue to invest in the deployment of its 3G networks, with a particular focus on building those networks and improving results in its core markets of Mexico and Brazil.Last month, the company said it agreed to sell its Peruvian operations to Empresa Nacional de Telecomunicaciones SA...

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