December 16, 2009 / 2:06 PM / 9 years ago

UPDATE 1-Finning sees 2010 revenue below 2009 level

* Finning expects ‘10 earnings to be up slightly over ‘09

* Expects to generate C$200 mln of free cash flow in ‘10

* Expects business conditions to improve late in 2010

TORONTO, Dec 16 (Reuters) - Finning International Inc (FTT.TO) forecast a slight drop in revenue for 2010 as it expects a decline in new equipment sales to offset a modest increase in its product support business.

Finning, the world’s largest Caterpillar (CAT.N) equipment dealer, said on Wednesday that it expected business conditions to improve late in 2010. Based on the current outlook, the company anticipates earnings in 2010 to be up modestly over 2009.

The Vancouver-based company expects to generate in excess of C$200 million ($189 million) of free cash flow in 2010 and to continue to strengthen its balance sheet.

Finning hosts its annual investor meeting on Wednesday and said it would provide an update on business activities and review its outlook for 2010.

The company operates in Western Canada, Chile, Argentina, Bolivia, Uruguay, and the United Kingdom. ($1=$1.06 Canadian) (Reporting by John McCrank; Editing by Lisa Von Ahn)

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