By Simon Kennedy
LONDON (MarketWatch) -- U.S. Concrete Inc. (RMIX 0.35, -0.23, -39.72%) on Wednesday reported a narrower fourth-quarter net loss, but warned that without a successful restructuring there's "substantial doubt about our ability to continue to operate as a going concern." The company's loss narrowed to $16.7 million, or 46 cents a share, from $132.2 million, or $3.63 a share, a year earlier, when it took a goodwill charge of $3.29 a share. Revenue fell 31% to $119.9 million as the slowdown in the construction industry further weighed on demand. The group said it had debts of $296.5 million at the end of December and cash and equivalents of $4.2 million, along with $45.3 million of available borrowing capacity. Chief Financial Officer Robert Hardy said liquidity -- comprising cash and available credit under the revolving credit facility -- had fallen to less than $25 million at the end of February.
