UPDATE 1-U.S. Concrete posts Q3 loss
* 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)
