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Atco quarterly profit falls to $49.5-million Add to ...

Atco Ltd. , a Calgary-based energy services, power utilities and transport company, reported its net profit fell to $49.5-million, or 85 cents a share, in the second quarter ended June 30.

That compared with earnings of $52.4-million, or 91 cents, for the same three months in 2008, the company said Tuesday.

Revenue fell to $688.1-million from $761.3-million.

Meanwhile, at Atco's Canadian Utilities Ltd. unit, the company's biggest operating subsidiary, net earnings fell to $73.2-million, or 58 cents a share, from $82.7-million, or 66 cents, in the year-earlier period.

Canadian Utilities revenue dropped to $602.7-million from $655.6-million.

Atco has more than 7,700 employees and assets of $9.8-billion and operates in pipelines, natural gas and electricity transmission and distribution sectors as well as other businesses.

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