UPDATE 1-Drug retailer Rite Aid's revenue misses estimates

(Adds shares, details on results)

April 12 (Reuters) - Drug retailer Rite Aid, which is being bought by U.S. grocer Albertsons Cos Inc, posted smaller-than-expected fourth-quarter revenue, hurt by a decline in reimbursement rates and prescription volumes.

Revenue fell to $5.39 billion from $5.90 billion, missing the average analyst estimate of $5.57 billion, according to Thomson Reuters I/B/E/S.

The company posted net loss from continuing operations of $483.7 million, or 46 cents per share, for the quarter ended March 3, compared with a loss of $25.1 million, or 2 cents per share, a year earlier.

The loss includes $325 million of income tax expense related mainly to the revaluation of the company's deferred tax assets in connection with the new U.S. tax law.

Excluding one-time items, Rite Aid reported a loss of 1 cent per share. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila and Saumyadeb Chakrabarty)