UPDATE 1-U.S. Concrete posts Q3 loss

Thu Nov 5, 2009 6:41am EST

* Q3 adj loss $0.09/shr in line with estimates

* Revenue down 28 percent

* Sees Q4 sales volumes down 30 pct

* Sees FY10 sss volumes to be modestly lower than 2009

Nov 5 (Reuters) - U.S. Concrete Inc RMIX.O reported a quarterly loss for the fourth time in a row as demand for its products continued to remain weak due to the significant slowdown in construction activity in the United States.

The company also said it expects fourth-quarter sales volumes to be down about 30 percent from last year and now expects 2010 volumes to be modestly lower than 2009 volumes on a same store sales basis.

"Our sales volumes continue to reflect significant declines due to the continuing U.S. recession and financial crisis," Chief Executive Michael Harlan said in a statement. Net loss attributable to stockholders for the third quarter was $58.1 million, or $1.60 a share, compared with a net income of $1.7 million, or 4 cents a share, in the year ago quarter.

Excluding items, the company's loss for the quarter was 9 cents a share.

Revenue fell 28 percent to $153.6 million.

Analysts, on average, were expecting a loss of 9 cents a share, before special items, on revenue of $158.1 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $1.58 Wednesday on Nasdaq. (Reporting by Hezron Selvi in Bangalore; Editing by Aradhana Aravindan)

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