UPDATE 1-Methode Electronics swings to Q4 loss

* Q4 shr loss $2.50 vs EPS of $0.34 yr-ago

* Q4 shr loss $0.10, ex-items

* Q4 net sales $89 mln vs $154.4 mln yr-ago

July 2 (Reuters) - Maker of electro-mechanical devices Methode Electronics Inc (MEI.N) swung to a fourth-quarter loss, hurt by charges and lower sales at its automotive segment due to weakness in the global economic environment.

The company reported a loss of $92.6 million, or $2.50 per share, compared with a profit of $12.9 million, or 34 cents a share, in the year-ago quarter.

The latest quarter's results were hurt by goodwill impairment and asset charges of $61.7 million and restructuring charges of $10.3 million. Excluding these charges, the loss came in at 10 cents a share.

Net Sales fell 42 percent to $89 million.

The company continues to accelerate its exit from North American auto business and expects to reduce overall automotive sales to about 40 percent of revenue by the end of fiscal 2011, Chief Executive Donald Duda said in a statement.

Shares of the company closed up 26 cents at $7.28 Wednesday on the New York Stock Exchange.

For the alerts, double click [ID:nWNAB3963] (Reporting by Eric Yep in Bangalore; Editing by Maju Samuel)