ANCHORAGE (AP) -- The Calista Corp. had profits of $1.1 million in 1999, about half as much as the previous year.
The Native corporation, which represents the Bethel area, reported $1.1 million in profits on revenues of $10.9 for the year, compared to profits of $2 million on revenues of $10.3 million in 1998.
Profits were down in part because of declines in equipment leasing and higher mortgage rates, the corporation said.
Calista's assets grew to $28 million in 1999, up $6 million from 1998. The increase was due largely from a new corporate office building in Anchorage and an expansion of a rental warehouse facility.
The increase in revenues came largely from new government contracts and increased sand and gravel sales.
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