Local News

Sealaska reports higher revenues, profits

Sealaska Plaza is the corporation’s Juneau headquarters. Officials just released the regional Native corporation’s 2012 report.

Sealaska is making more money.

Southeast Alaska’s regional Native corporation says it brought in almost $312 million during 2012.

That’s close to 20 percent more than the previous year — and the largest amount from the past five years.

The numbers are for total income, also called gross revenues.

Sealaska’s profits, or net revenue, are $11.3 million for 2012.

That’s 40 percent more than 2011. But it’s lower than the previous two years.

The numbers are in Sealaska’s 2012 annual report, which was released Friday. The Juneau-based corporation has about 21,000 shareholders. Corporate officials were not immediately available for comment.

Link to a copy of the annual report.

More than half Sealaska’s 2012 gross revenues were in the service sector, including environmental contracting and security.

About a quarter came from manufacturing, mainly plastics factories in the Lower 48 and Mexico.

A little less than a fifth of the overall earnings came from natural resources, including timber and gravel operations. The rest was from investments.

The manufacturing, service and investments had higher profits than the previous year. But natural resource profits dropped. We’ll take a closer look at some of those business sectors in a future report.

Read the corporation’s press release describing its annual report and future goals.

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