Sealaska's continuing strength.

A lot of superlatives apply to Juneau-based Sealaska Corporation, the regional Alaska Native Claims Settlement Act corporation for Southeast Alaska. Sealaska is the largest Alaska Native corporation, with 16,000 shareholders. The corporation is the largest private landowner in Southeast and

Now, Sealaska can claim another superlative--the corporation's best year ever, and the 12th straight profitable year.

In fiscal 1996, Sealaska posted earnings of $43.4 million on total revenues of $237 million. Timber operations accounted for the bulk of the revenues, but the majority of the profits came from returns on investments. Sealaska also reported an increase in total assets, a drop in liabilities and a $35.5 million rise in shareholder equity.

All told, Sealaska counts about 600 employees working either for the corporation or its contractors. Sealaska estimates it pumped more than $70 million into the regional economy last year.

Sealaska's shareholders received a 1996 dividend of about $800 on average. Various shareholders or their families (about half of whom live in Alaska) may also have benefitted from employment by the company or from more than $400,000 the corporation gives in scholarships and grants.

Sealaska boasts a permanent fund of $89 million, as well as special funds for elders and cultural/historical activities.

One of Sealaska's stated goals is the preservation and continued ownership of land by shareholders and their descendants. This mission has compelled Sealaska to slow its timber harvesting and increase reforestation efforts to get into a better rhythm with the second- and later-growth forests. In FY 96, Sealaska sold 74 million board feet of timber, down from around 110 million board feet each of the previous two years.

The corporation is proud of its forest management practices, reporting that they meet or exceed all applicable federal and state laws. Sealaska leaves 66-foot uncut buffers on the sides of streams and eight acres surrounding eagle nests. A Native corporation should have respect for the land, managers say.

Sealaska owns more than 300,000 acres of land, but only about 8,500 acres is in timber production, mainly near Hoonah, Hydaburg and Klawock. This represents an increase in timber acreage from previous years, due mainly to more selective and helicopter-assisted logging techniques, which require more acreage than clear cutting. The corporation also handles timber for smaller Native corporations and other private timber holders. Therefore, Sealaska uses and also provides ocean transportation services.

"In fact," says spokeswoman Vikki Mata, pointing out another superlative, "Sealaska charters more ships than any other log-export competitor all along North America's West Coast. What this means is that our customers in Japan, Korea and Taiwan get direct, on-time shipments at their ports."

Sealaska's transportation savvy will come in handy if the corporation, as is hoped, moves further into the processing of wood chips, lumber and engineered wood products. Sealaska hasn't completely ruled out buying the idle Alaska Pulp Corp. sawmill in Wrangell, Mata said, but is also looking at other facilities, mainly for some form of manufacturing.

Mining exploration--Sealaska owns the subsurface rights on 600,000 acres--is continuing from Yakutat in the north to Prince of Wales Island and Saxman, near Ketchikan. Mining is seen as a potential growth area for the future.

Building upon existing strengths is the corporation's stated goal.

"Sealaska will continue its current stable business track," says CEO Leo H. Barlow. "(Our) operations emphasis this year will be on long-term forest management, investment management, growing involvement in the minerals industry and prudent acquisitions of one or more profitable businesses which will add shareholder value and diversify Sealaska's business base."

Superlative and stable--Sealaska's recipe for success.