UPDATE 2-Titan International posts wider Q4 loss, shares fall

* Q4 loss/shr $0.76 vs loss/shr $0.53 a year ago

* Sales down 43 pct

* CEO: 2010 will be a better year

* Shares down 5 pct pre-market
(Adds details, share movement)

Feb 25 (BestGrowthStock) – Titan International Inc (TWI.N: ), which
supplies tires and assemblies for off-highway vehicles, posted
a wider quarterly loss on lower demand across segments, sending
its shares down 5 percent in trading before the bell.

The company, which caters to the struggling construction
and agricultural sectors, saw most of its major customers
implementing extended shutdowns during 2009 second half,
hurting sales in all its key segments.

Titan said 2009 sales for the agricultural market fell
about 23 percent, while earthmoving and construction sales
dropped about 49 percent.

The company, however, said it expects 2010 to be a better
year as certain sectors have exhausted inventories.

“Construction tires should be up because there is no
inventory…Mining is running good…the market is good and
pricing is fair,” Chief Executive Maurice Taylor said in a

For the fourth quarter, the company posted a loss of $26.5
million, or 76 cents a share, compared with a loss of $18.4
million, or 53 cents a share, a year ago.

Sales fell 43 percent to $146.5 million.

Shares of the company were down at $7.75 in trading before
the bell. They closed at $8.15 Wednesday on the New York Stock

Stock Market Advice

(Reporting by Divya Sharma and Bijoy Koyitty in Bangalore;
Editing by Aradhana Aravindan, Vinu Pilakkott)

UPDATE 2-Titan International posts wider Q4 loss, shares fall