NU Online News Service, May 13, 3:00 p.m. EDT–Bermuda-based insurer Quanta Capital Holdings said it is lowering its previously announced first-quarter earning by $2 million because of a newly discovered “calculation error.”

On May 2, Quanta reported $1.4 million income for its 2005 first quarter, but the company said this week that its quarterly result would now be revised to a net loss of $644,000.

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