Making tracks: the five fastest growing companies.

• Author: Griffin, Judith Fuerst
• Position: The New Forty-Niners

ONLY ONE OF THE FIVE FASTEST growing New Forty-Niners this year saw the majority of its sales traffic in Anchorage, the automobile dealership Alaska Sales and Service. The four businesses that posted the biggest increases in 1988 sales over 1987 performance - Gaston and Associates, South Coast, Harbor Enterprises and Peninsula Airways - operated more far-flung operations, covering wider geographical areas.

Topping the list of the fastest growing firms is Gaston and Associates Inc., whose revenues grew an amazing 191 percent from 1987 to 1988. The Anchorage-based general construction firm specializes in public works and bonded construction. Jobs that contributed to its $14 million in revenues for 1988 included improvements at the Anchorage International Airport domestic terminal, hangar door installation at Fort Wainwright in Fairbanks, work on an addictive behavior treatment center in Fairbanks and school projects in Kodiak.

According to Sam Gaston, president of Gaston and Associates, installing metal roofing and rain gutters - work done under the business name Wesco Products - contributes between 4 and 5 percent to overall sales. He expects 1989 to be another good year for the construction firm, but adds, "Luck had a lot to do with it."

In particular he feels the firm has benefited from landing successive jobs to smooth out the valleys of inactivity between major projects. Gaston notes another boost has been an increased bonding limit, which allows Gaston and Associates to handle more jobs and larger projects.

The Forty-Niner with the second fastest growth in 1988 revenues is South Coast Inc. of Ketchikan. The firm's revenues leapt from $16.8 million in 1987 to $26.2 million in 1988.

Owner Don Thornlow describes South Coast's specialties as heavy construction and rock work. The firm has carved its niche in road construction and logging and mining projects. Increased mining activity in Southeast has created a great deal of work for the firm, which uses its own barges and tugs to move heavy equipment to remote sites. Last year, projects included an access road to the Jualin gold mine and an exploratory tunnel for the Kensington gold mine. The article on page 78 takes an in-depth look at this firm's recent accomplishments.

Harbor Enterprises Inc. of Seward was the third biggest gainer. Tenth ranked this year, the firm reported $68.2 million in 1988 revenues, an increase of 53 percent over 1987 revenues of $44.5 million.

Rapid growth is the...