Calista Corp. reports $1.1 million in profits for 1999

Posted: Monday, May 08, 2000

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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