Mohawk Industries said this week that it posted a nearly $128 million loss in the fourth quarter as the recession eroded the floor covering maker’s sales.

Mohawk also forecast a first-quarter loss deeper than the loss Wall Street analysts expect.

For the three months ended Dec. 31, Mohawk posted a loss of $127.6 million, or $1.87 per share. That compared with a year-earlier profit of $379.1 million, or $5.53 per share, when Mohawk’s results were boosted by a one-time tax benefit.

In the latest quarter, Mohawk recorded a pretax impairment charge of $124.5 million, citing “the continuing decline in Mohawk’s stock price and deterioration of industry conditions.” The company also took a $30 million restructuring charge from cost-cutting moves.

Excluding charges, Mohawk reported operating income of $61 million in the latest quarter.

Sales fell 18% to nearly $1.49 billion from $1.81 billion. Sales of Mohawk-branded products fell 17%, while Dal-Tile product sales declined 12%.

For the full year, Mohawk posted a loss of $1.46 billion, or $21.32 per share, including a $1.54 billion impairment charge for goodwill and intangibles plus a $253 million deferred tax asset impairment and a $30 million restructuring charge.