UPDATE 1-Columbus McKinnon posts Q2 loss

* Q2 loss/shr $0.14 vs EPS $0.55 a year-ago

* Revenue down 26 pct

* Lag in economic recovery to impact Q4

Oct 23 (Reuters) - Columbus McKinnon Corp (CMCO.O), which makes crane hooks and actuators, posted a quarterly loss on continued weakness in sales volume, and said the lag in economic recovery might impact fourth-quarter results.

For the second quarter, the company reported a loss of $2.7 million, or 14 cents a share, compared with earnings of $10.6 million, or 55 cents a share in the year-ago period.

Net sales fell 26 percent to $115.2 million.

Excluding items, it reported earnings of 12 cents a share.

Analysts on average were expecting earnings of 8 cents a share, before items, on revenue of $119.2 million, according to Thomson Reuters I/B/E/S.

While the third quarter would continue to be the company's weakest quarter of the year, the lag in economic recovery may impact an otherwise strong fourth quarter also, Columbus McKinnon said in a release.

Shares of the company closed at $15.17 Thursday on Nasdaq. (Reporting by Bijoy Koyitty in Bangalore; Editing by Maju Samuel)