CUC Announces Second Quarter Results for the Period Ended June 30th, 2012

CUC Announces Second Quarter Results for the Period Ended June 30th, 2012 
Caribbean Utilities Company, Ltd. is listed for trading in United States 
dollars on the Toronto Stock Exchange. 
GRAND CAYMAN, Cayman Islands, July 31, 2012 /CNW/ - Caribbean Utilities 
Company, Ltd. (TSX: CUP.U) ("CUC" or "the Company") announced today its 
unaudited results for the Second Quarter ended June 30, 2012 (all figures in 
United States dollars). 
Net earnings for the three months ended June 30, 2012 ("Second Quarter 2012") 
totalled $5.1 million, a decrease of $0.8 million, or 14%, when compared to 
$5.9 million for the three months ended June 30, 2011 ("Second Quarter 2011"). 
A 3% decline in kilowatt-hour (" kWh") sales and higher depreciation costs and 
finance charges were partially offset by decreased general and administration, 
consumer service and maintenance costs for the Second Quarter 2012 when 
compared to the Second Quarter 2011. 
Sales for the Second Quarter 2012 totalled 139.9 million kWh, a decrease of 
5.0 million kWh, or 3%, in comparison to 144.9 million kWh for the Second 
Quarter 2011. Sales were negatively impacted by rainy weather conditions that 
reduced customer air-conditioning load. The average monthly rainfall for the 
Second Quarter 2012 was 9.3 inches as compared to an average rainfall of 4.2 
inches for the same period last year and May 2012 saw a record breaking 17.7 
inches of rainfall, the highest level on record in one month in over 9 years 
and the highest level on record for the month of May in 20 years. 
After the adjustment for dividends on the preference shares of the Company, 
earnings on Class A Ordinary Shares for the Second Quarter 2012 were $5.0 
million, or $0.18 per Class A Ordinary Share, a decrease of $0.8 million from 
the $5.8 million, or $0.20 per Class A Ordinary Share for the Second Quarter 
2011. 
President and CEO, Mr. Richard Hew, says, "With a continuing weak economy, 
relatively high fuel prices and wetter than normal months, electricity sales 
and earnings for the quarter under review were negatively impacted. We 
continue to focus on controlling costs while meeting our obligations to 
provide a safe and reliable electricity service to our customers. A stronger 
economy with real economic growth is required to provide any material 
improvement in financial performance." 
The Company continues with the installation of its Advanced Metering 
Infrastructure (AMI) system. Over five thousand new AMI meters have been 
installed which allows CUC to measure, collect and analyze energy usage, and 
communicate with the meters, either on request or on a schedule from its 
central office. Customers will be able to use the information provided by the 
AMI system to become more energy efficient. 
"We are pleased to offer this new technology to our customers. We anticipate 
that there will be significant benefits to CUC in terms of efficiency in 
operation as well as the enhanced service to electricity consumers." Mr. Hew 
added. 
CUC's Second Quarter 2012 results and related Management's Discussion and 
Analysis ("MD&A") for the period ended June 30, 2012 are incorporated by 
reference and can be accessed by clicking the link at the end of this release. 
The MD&A section of this report contains a discussion of CUC's unaudited 
Second Quarter 2012 results, the Cayman Islands economy, liquidity and capital 
resources, capital expenditures and the business risks facing the Company. The 
release and Second Quarter MD&A can be accessed at www.cuc-cayman.com 
(Investor Relations/Press Releases) and at www.sedar.com. 
CUC provides electricity to Grand Cayman, Cayman Islands, under an Electricity 
Generation Licence expiring in 2029 and an exclusive Electricity Transmission 
and Distribution Licence expiring in 2028. Further information is available 
at www.cuc-cayman.com. 
Certain statements in the MD&A, other than statements of historical fact, are 
forward-looking statements concerning anticipated future events, results, 
circumstances, performance or expectations with respect to the Company and its 
operations, including its strategy and financial performance and condition. 
Forward looking statements include statements that are predictive in nature, 
depend upon future events or conditions, or include words such as "expects", 
"anticipates", "plan", "believes", "estimates", "intends", "targets", 
"projects", "forecasts", "schedule", or negative versions thereof and other 
similar expressions, or future or conditional verbs such as "may", "will", 
"should", "would" and "could". Forward looking statements are based on 
underlying assumptions and management's beliefs, estimates and opinions, and 
are subject to inherent risks and uncertainties surrounding future 
expectations generally that may cause actual results to vary from plans, 
targets and estimates. Some of the important risks and uncertainties that 
could affect forward looking statements are described in the MD&A in the 
section labeled "Business Risks" and include but are not limited to 
operational, general economic, market and business conditions, regulatory 
developments and weather. CUC cautions readers that actual results may vary 
significantly from those expected should certain risks or uncertainties 
materialize, or should underlying assumptions prove incorrect. Forward-looking 
statements are provided for the purpose of providing information about 
management's current expectations and plans relating to the future. Readers 
are cautioned that such information may not be appropriate for other purposes. 
The Company disclaims any intention or obligation to update or revise any 
forward-looking statements, whether as a result of new information, future 
events or otherwise except as required by law. 
Contact: Letitia Lawrence Vice President Finance and Chief Financial Officer 
Phone: (345) 914-1124 E-Mail:llawrence@cuc.ky 
PDF available at:  
http://stream1.newswire.ca/media/2012/07/31/20120731_C4074_DOC_EN_16563.pdf 
SOURCE: Caribbean Utilities Company, Ltd. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/July2012/31/c4074.html 
CO: Caribbean Utilities Company, Ltd.
NI: UTI ERN  
-0- Aug/01/2012 01:23 GMT
 
 
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