Union Carbide

(UK)

reported a fourth-quarter loss that met analysts' expectations, but the results fell sharply from a year ago because of high raw material and energy costs in the midst of a "volatile energy market."

The Danbury, Conn., chemicals company posted a fourth-quarter loss of $94 million, or 70 cents a share, including a charge of $31 million, or 17 cents a share, compared with earnings of $94 million, or 68 cents a share, a year ago. Excluding the charge, the company lost 53 cents a share, in line with the lowered consensus estimate on

First Call/Thomson Financial

.

Revenue for the quarter rose to $1.598 billion from $1.552 billion last year.

Shares of Union Carbide, whose planned acquisition by

Dow Chemical

(DOW) - Get Report

has yet to win approval from federal regulators, recently gained 5 cents, or 0.1%, to $48.67, in trading on the

New York Stock Exchange

. Dow was lately unchanged at $32.56.