UPDATE 1-Altra Holdings Q4 beats Street view; sees weak 2009

* Q4 adj EPS $0.34 vs. est. $0.22

* Q4 rev $144.8 vs. est. $148 mln * Sees 2009 EPS $0.25-$0.45

* Sees 2009 rev $460-$500 mln

March 4 (Reuters) - Altra Holdings Inc (AIMC.O), a producer of mechanical power transmission and motion control products, posted a better-than-expected quarterly profit, but the company forecast a weak 2009 as macroeconomic conditions weigh.

The company said it has cut its worldwide staffing levels by 12 percent through February and has also stopped hiring, frozen salaries, and reduced work weeks as part of its cost-cutting measures.

Altra Holdings said it would close up to six manufacturing facilities during the next 18 months and take a related charge of about $10 million to $12 million.

The company sees total savings of about $50 million on an annualized basis from its cost-cutting measures.

In the fourth quarter, the company posted a loss of $20.7 million, including a non-cash goodwill impairment charge of $31.8 million and other items.

Shares of the company closed at $5.02 Wednesday on Nasdaq.

For alerts, double click [ID:nWNAB0406] (Reporting by Amulya Nagaraj in Bangalore; Editing by Deepak Kannan)