UPDATE 2-Columbus McKinnon sees revenue drop in '10; to cut jobs

* Q4 EPS $0.17/shr, from continuing ops vs est $0.31/shr

* Sees 2010 rev drop by 20-25 pct

* To shut 2 N. American plants, cut 10 pct of jobs

* Shares down 7 pct (Adds analyst comments, conference call details and share movement)

By Dhanya Ann Thoppil

BANGALORE, May 20 (Reuters) - Columbus McKinnon Corp CMCO.O, which makes crane hooks and actuators, forecast a 20 to 25 percent drop in fiscal 2010 revenue as it sees a drop in demand, sending its shares down as much as 13 percent.

The company also said it expects to close down two facilities and reduce capacity at its third plant, resulting in an additional 10 percent job cuts.

Sidoti & Co analyst James Bank said the potential gains for the company will come from the timing of the facility closures and reduced capacity.

The company has been badly hit by decline in orders due to a severe contraction in industrial markets, despite recent price increases.