Sealaska Corp. reports loss.

• Position: Native News

Sealaska Corp. recently reported a net loss of $21 million on revenues of $146 million for 2001. The 2001 loss was largely due to the last of the write downs of assets of discontinued operations that the company began last year, officials said. Current operations include Sealaska Timber Corp. and telecommunications. The company's Natural Resources Group had positive earnings for 2001. Sealaska's independent auditors are Price-WaterhouseCoopers LLC.

"Today we are confident that Sealaska has rounded a difficult corner at a pivotal point in our history," said Sealaska President & CEO Chris E. McNeil Jr. "Looking forward, we have a strong strategic plan, and we have a strong connection with our shareholders on which we are building a future for our company."

"Although our loss in 2001 is a significant turnaround from the previous year, the Sealaska board of directors and our shareholders want to see us return to profitability," said Albert Kookesh, Sealaska chairman of the board. "I think the 2001 performance shows that Sealaska is heading in the right direction. Based on our current information, we expect to be profitable next year."

McNeil noted areas in which Sealaska made progress in 2001:

* Completing a joint venture with Nypro Inc. to operate the TriQuest Guadalajara plant.

* The opening of Valley View Casino, owned by the...