February 16, 2012 / 12:35 AM / in 6 years

UPDATE 1-Terex 4th-qtr loss narrows on higher sales

* Reports strong growth in construction segment

* Net loss per share 3 cents vs 30 cents year ago

Feb 15 (Reuters) - Construction equipment maker Terex Corp posted a narrower fourth-quarter loss helped by strong growth at its construction segment.

Terex, which makes cranes, earth-moving equipment and aerial work platforms for the construction industry, reported a net loss from continuing operations of $4 million, or 3 cents a share.

That compared with a net loss from continuing operations of $32.5 million, or 30 cents a share, a year ago.

Net sales for the quarter rose 47 percent to $1.95 billion.

Net sales from the construction segment rose 29.3 percent to $409.0 million from last year.

Terex, which has a larger-than-average exposure to Europe, said the rise in sales was driven by continued demand in the developed markets of North America and Europe, particularly for compact equipment and material handlers in Germany.

The company said it expects earnings of $1.65 to $1.85 per share for 2012 on net sales of $7.5 to $8 billion.

The Westport, Connecticut-based company’s shares closed at $23.53, down 1 cent, on Wednesday on the New York Stock Exchange.

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