UPDATE 1-Lydall posts wider than expected Q4 loss
* Q4 adj loss $0.12/shr vs estimate $0.03/shr
* Q4 rev down 25 pct
Feb 27 (Reuters) - Diversified manufacturer Lydall Inc (LDL.N) posted a wider-than-expected fourth-quarter loss, as sales at two of its major operating units fell in the face of the global economic meltdown.
"We had a difficult fourth quarter due to deteriorating global economic conditions impacting most of the markets that Lydall serves," CEO Dale Barnhart said in a statement.
The company's thermal/acoustical unit, which makes specialty engineered automotive thermal and acoustical barriers, was hit by automobile production cuts in the U.S. and Europe.
Performance materials segment, which makes filtration materials for various industries, was weighed down by its customers adjusting order rates to cut inventory levels.
Fourth-quarter net loss was $13.8 million, or 84 cents a share, compared with earnings of $2.4 million, or 15 cents a share a year ago.
Adjusted for non-cash pre-tax impairment charges of 66 cents a share and restructuring expenses of 6 cents a share, net loss came in at 12 cents a share.
Net sales fell by a fourth to $60.8 million.
Analysts were expecting the company to post a loss of 3 cents a share, before special items, on revenue of $63.9 million, according to Reuters Estimates.
Shares of the company closed at $3.15 Thursday on the New York Stock Exchange. (Reporting by Dhanya Ann Thoppil in Bangalore; Editing by Akshay Lodaya)
