* Q4 operating profit 60 mln DKK vs 357 mln forecast
* Expects sales to fall to 21-24 bln DKK in 2014 from 26.9 bln
* Shares fall 8 pct in flat market (Adds comments, details, background)
By Teis Jensen and Ole Mikkelsen
COPENHAGEN, Feb 13 (Reuters) - Danish mining equipment maker FLSmidth & Co A/S reported its first full-year net loss in a decade and warned revenue would fall this year due to cutbacks in spending by its customers.
FLSmidth, which sells gear for cutting, crushing and transporting metal ores, and its peers have been hit by a slump in spending by top miners such as Rio Tinto and BHP Billiton .
The company, whose competitors include Metso, Sandvik and Caterpillar, said it would take two years for growth to return.
Chief Executive Thomas Schulz said 2014 would be "tough." "2015 will be flattish. In 2016 the whole industry will be back in growth," he said on Thursday.
Its shares were 8 percent lower at 1207 GMT compared with an unchanged main Danish market.
FLSmidth said it expected revenue to fall to between 21 billion and 24 billion Danish crowns ($4.4 billion) this year from 26.9 billion in 2013.
Orders fell by 8 percent in the fourth quarter of last year to 5.62 billion crowns, well below the 6.36 billion forecast by analysts in a Reuters poll..
Sydbank analyst Jacob Pedersen said the order intake was significantly lower than expected and the outlook for 2014 was poor. "This is definitely not good news," he said.
FLSmidth, which cut more than 1,200 jobs last year, posted a 2013 net loss of 784 million crowns compared with a net profit of 1.3 billion crowns in 2012. It was the company's first full-year net loss since 2003.
The company proposed a sharp cut in its dividend to 2 crowns per share for 2013 from 9 crowns in each of the last three years.
Operating profit fell to 60 million Danish crowns in the fourth quarter from 796 million a year ago and was well below an average forecast for 357 million in a Reuters poll.
A Thomson Reuters StarMine SmartEstimate, which puts more weight on the most recent estimates and the most accurate analysts, had predicted a significantly lower result than the consensus forecast (tmsnrt.rs/1ooy8lo)
In December, FLSmidth cut its 2013 earnings outlook by more than 10 percent after it lost an arbitration case against Danish construction firm MT Hoejgaard about delays to building a cement plant in Buxton in northern England in 2004 .
($1 = 5.4913 Danish crowns) (Editing by Erica Billingham)