Arctic Slope Regional Corp, an Alaska Native regional corporation, saw a 71 percent drop in profits in 2003.

ASRC reported revenues of $1 billion but a profit of under $5 million. This was down $17 million in 2002 and down from $31 million in 2001.

Almost all of last year's profits were paid in dividends to the 7,200 shareholders Inupiat Eskimo shareholders.

The drop in profitability was attributed to a drop in oil business and a reorganization and other one-time costs.

Get the Story:
Profits plunge at region corporation (The Anchorage Daily News 5/26)

Relevant Links:
Arctic Slope Regional Corporation - http://www.asrc.com

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