UPDATE 1-US Concrete posts Q2 loss
* Q2 loss $0.11/shr vs. EPS of $0.08 year ago
* Revenue down 30.2 pct
* Sees FY volumes to fall more than 25 pct from last yr
Aug 7 (Reuters) - U.S. Concrete Inc RMIX.O posted wider-than-expected quarterly loss as demand from the construction industry waned due to the prolonged recession.
Second-quarter loss was $4.0 million, or 11 cents a share, compared with net income of $3.3 million, or 8 cents a share, a year ago.
Excluding items, the company's loss for the quarter was 19 cents a share, compared with a analysts average estimate of a loss of 3 cents a share, according to Reuters Estimates.
Revenue fell about 30 percent to $143.7 million. Analysts had forecast revenue of $161.02 million.
"Looking forward, we now expect full-year 2009 volumes to be down in excess of 25 percent year-over-year." said Chief Executive Michael Harlan in a statement.
However, the company expects to generate positive operating cash flow for the second half of the year.
Shares of the Houston, Texas-based company closed at $1.79 Thursday on Nasdaq.
(Reporting by Arundhati Ramanathan in Bangalore; Editing by Anil D'Silva) ((arundhati.ramanathan@thomsonreuters.com; within U.S. +646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arundhati.ramanathan.reuters.com@reuters.net))
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