UPDATE 1-Sauer-Danfoss Q1 loss lower than expected

* Q1 rev falls 43 pct to $349.7 mln

* Reaffirms 2009 shr loss view $1.60-$2.40

* Sees 2009 sales down about 40 pct

May 5 (Reuters) - Sauer-Danfoss Inc (SHS.N), which makes hydraulic and electronic systems for mobile equipment, posted a lower-than-expected quarterly loss, and said it expects 2009 sales to decline close to 40 percent.

The company posted a first-quarter net loss of $78.4 million, or $1.62 a share, compared with net income of $27.9 million, or 57 cents a share, a year ago.

The latest first-quarter results include a goodwill impairment charge of $50.8 million, or $1.05 a share.

Excluding impairment charges, Sauer-Danfoss posted a loss of 57 cents a share, which compares with Wall Street estimates of a loss of 64 cents a share, according to Reuters Estimates.

Revenue fell 43 percent to $349.7 million.

The company sees 2009 loss of $1.60 to $2.40 a share, excluding impairment charges but including restructuring and workforce reduction charges.