Native corporation recoups money

Posted: Sunday, September 07, 2008

ANCHORAGE - The Bering Straits Native Corp. has recouped the millions it lost prior to bankruptcy in 1989.

The Nome-based corporation says for the first time it generated more than $100 million in revenue in the fiscal year. That's a 49 percent gain over the previous year.

The company also earned a $6.9 million profit, or a 38 percent increase.

Bering Straits says the growth has to do with new contracts in commercial and government services and construction.

It was the company's fourth consecutive year of earning a profit, following four years of losses.

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