July 28, 2009 / 2:45 PM / in 8 years

UPDATE 1-Canadian Utilities Q2 profit down 11 pct

* Q2 EPS C$0.58 vs C$0.66 yr-ago

* Revenue down 8 pct

* Adj EPS C$0.59 vs est C$0.50

July 28 (Reuters) - Canadian Utilities Ltd (CU.TO), which is a part of the Atco Group of Companies, posted an 11 percent fall in quarterly profit, partly hurt by lower prices in the Alberta electricity market.

The company’s net income for the second quarter was C$73.2 million, or 58 Canadian cents a share, compared with C$82.7 million, or 66 Canadian cents a share, a year earlier.

Excluding items, the company posted earnings of C$73.5 million, or 59 Canadian cents a share, compared with C$70.8 million, or 56 Canadian cents a share, a year ago.

Revenue fell 8 percent to C$602.7 million.

Analysts on average were expecting earnings of 50 Canadian cents, before special items, according to Reuters Estimates.

Shares of the Calgary, Alberta-based company were down 18 Canadian cents at C$36.82 Tuesday morning on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Maju Samuel)

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