Nov. 1 / Key Tronic's net dips, revenues jump

Key Tronic Corp., the Spokane Valley-based contract manufacturer, reported net income of $1.2 million, or 12 cents a diluted share, for its fiscal 2012 first quarter ended Oct. 1, down from $1.7 million, or 17 cents a share, in the year-earlier quarter. The company said, though, that its total revenue of $69.8 million for the quarter was up 10 percent and was the highest quarterly revenue in its history. The company said it expects revenues this quarter to be higher yet, in the range of $75 million to $80 million, and for earnings to be 15 cents to 20 cents a share.

Oct. 26 / CHS hospitals rebrand

Deaconess Medical Center, Valley Hospital & Medical Center, and Rockwood Clinic,all owned by Franklin, Tenn.-based Community Health Systems Inc., announced they are unifying their brand identity locally under the newly established name of Rockwood Health System. Individually, the medical centers' names are being shortened to Deaconess Hospital and Valley Hospital, but signage and other communications from the three entities also will display the Rockwood Health System name.

Oct. 26 / Clearwater to sell Lewiston mill

Clearwater Paper Corp., of Spokane, agreed to sell its Lewiston, Idaho, sawmill to Idaho Forest Group, of Coeur d'Alene, for about $30 million. Clearwater will ramp down production in the coming weeks, which will include paying severance to 250 employees. Idaho Forest Group isexpected to take possessionduring the fourth quarter.

Oct. 26 / Ambassadors posts lower net

Ambassadors Group Inc., of Spokane, reported third-quarter net income of $6.1 million, or 34 cents a diluted share, compared with net income of $7.1 million, or 37 cents a share, in the year-earlier quarter. Ambassadors Group President and CEO Jeff Thomas said, "We completed the peak 2011 summer-travel season, and it was consistent with our tempered outlook."

Oct. 26 / Itron reports big loss, to restructure

Itron Inc., the Liberty Lake-based maker of automated meter-reading equipment, reported a third-quarter net loss of $517.1 million, or $12.70 a diluted share, down sharply from net income of $41.4 million, or 68 cents a share, in the year-earlier period. The company said it plans to cut 750 full-time positions, or about 7.5 percent of its global work force, and to close several manufacturing facilities. None of its job cuts, however, will occur at its Liberty Lake headquarters. The company's board of directors also authorized the company to repurchase up to $100 million of Itron's common stock during the next 12 months.

Oct. 25 / Sterling's earnings improve

Sterling Financial Corp., the Spokane-based parent of Sterling Savings Bank, reported third-quarter net income of $11.3 million, or 18 cents a common share. In the year-earlier quarter, Sterling had a $48 million net loss, but it completed a $730 million recapitalization that ultimately led to a net gain for that three-month period. Referring to the most recent quarter, Sterling President and CEO Greg Seibly said, "This marks the third successive quarter of improved earnings growth."

Oct. 24 / Potlatch's net income jumps

Potlatch Corp., of Spokane, reported third-quarter net income of $25.6 million, or 63 cents a diluted share, up from $18.1 million, or 45 cents a share, in the year-earlier period. Potlatch Chairman, President, and CEO Michael Covey said each of the company's business segments posted improved results during the quarter compared with the year-earlier quarter. Also, Potlatch sold 41,700 acres of timberland in Wisconsin and Arkansas during the quarter for $28.7 million, which contributed about 12 cents per share to the quarterly earnings.