Jan.29 / Key Tronic's net rises

Key Tronic Corp., the Spokane Valley-based contract manufacturer, reported net income of $3.6 million, or 33 cents a diluted share, for its fiscal 2013 second quarter ended Dec. 29, up from $3.2 million, or 30 cents a share, in the year-earlier quarter. For the first six months of its 2013 fiscal year, the company says it had total revenue of $192.1 million, up 25 percent from $154.2 million in the year-earlier period. Key Tronic President and CEO Craig Gates says the company has "a very robust pipeline of potential new business, including programs with larger revenue potential than most of our current customer programs."



Jan. 29 / Potlatch reports improved earnings

Potlatch Corp., of Spokane, posted 2012 fourth-quarter net income of $13.9 million, or 34 cents a diluted share, up sharply from a net loss of $1.5 million, or 4 cents a share, in the year-earlier period. For all of last year, Potlatch reported net income of $42.6 million, or $1.05 a share, up from $40.3 million, or $1 a share, in 2011. Potlatch Chairman, President and CEO Michael Covey said in a press release that the company's operating results "greatly exceeded our expectations" and were due partly to "a real turnaround" in its wood products segment.



Jan. 28 / County approves animal control pact

Spokane County commissioners approved interlocal agreements with the cities of Spokane and Spokane Valley to put in motion plans for a regional animal control facility that will occupy a former Harley-Davidson motorcycle dealership building at 6815 E. Trent. The county plans to sell bonds to cover the roughly $4 million cost to buy, renovate, and furnish the building. The Spokane County Regional Animal Protection Service, known by its acronym SCRAPS, will operate the facility, which is expected to open Jan. 1, 2014.



Jan. 24 / Sterling posts increase in net income

Sterling Financial Corp., the Spokane-based parent of Sterling Bank, reported 2012 fourth-quarter net income of $20.9 million, or 33 cents a diluted share, up from income of $14.8 million, or 24 cents a share, in the year-earlier period. The company said a net gain of $8.4 million from sale of its branches in Montana, which was completed Nov. 30, contributed to the improved earnings. For the full year, Sterling posted net income of $385.7 million, or $6.14 a share, up from $39.1 million, or 63 cents a share, in 2011. The 2012 figures include a $292 million income-tax benefit.



Jan. 23 / Red Lion to add hotel brand

Red Lion Hotels Corp., of Spokane, said it plans to introduce a new brand segment of hotels that will be called The Leo Hotel Collection. Intended to complement its full-service Red Lion Hotels and the limited-service Red Lion Inns & Suites, The Leo Hotel Collection will be comprised of boutique and historic hotels in key markets, the company said in a press release. "The Leo Collection is a new opportunity for franchising, and we are currently in discussions with hotel owners about converting to the new brand," said Ron Burgett, executive vice president of lodging and brand development.



Corrections & Amplifications

Pregnancy massage sessions at the Spokane Valley-based Spinal & Sports Care Clinic typically last an hour. The length of the massage was stated incorrectly in a story in the Journal's Jan. 17 edition.



The Bankruptcy Abuse Prevention and Consumer Protection Act passed in 2005 doesn't have an expiration date. A story in the Journal's Jan. 17 edition incorrectly stated otherwise.



Kim Zentz is the CEO of Innovate Washington. Her title was stated incorrectly in a story in the Journal's Jan. 17 edition.