February 17, 2010 / 11:14 PM / in 8 years

UPDATE 1-Terex reports wider-than-expected loss

* Posts Q4 loss of $1.06/shr from continuing operations

* Street expected loss of 49 cents/shr

* Says 2010 outlook remains challenging

CHICAGO, Feb 17 (Reuters) - Terex Corp (TEX.N) posted a wider-than-expected quarterly loss and warned that 2010 remains challenging as sales of its construction equipment are dampened by the global slowdown in residential and commercial building.

The company reported on Wednesday a fourth-quarter net loss of $142.8 million, or $1.32 a share, down from a loss of $421.5 million, or $4.46 a share, last year.

Revenue fell 36 percent to $1.06 billion.

Terex reported a loss from continuing operations of $1.06 a share.

On that basis, analysts, on average, had expected the Westport, Connecticut-based company to lose 49 cents a share on sales of $1.24 billion, according to Thomson Reuters I/B/E/S.

“The 2010 outlook remains challenging for Terex, but we believe that our performance will improve during the year,” Chairman and Chief Executive Ron Defeo said in a statement.

“We expect to continue to incur operating losses in the first half of 2010, and expect to return to operational profitability in the second half of the year.”

Reporting by James Kelleher; Editing by Richard Chang

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