April 28 / Valley repeals revitalization plan

The Spokane Valley City Council voted 5-1 to repeal the Sprague-Appleway Revitalization Plan, or SARP, adopted in June 2009, which changed zoning regulations along the Spokane Valley commercial corridor. The plan restricted auto dealers to a designated zone in the corridor, called for civic buildings in a city center on the former University City Mall, and delineated pedestrian-friendly development. Business owners along the corridor opposed SARP, and last fall the city elected new city council members who opposed the plan, despite continued recommendations from the city's Planning Commission to retain it.

April 27 / Itron's earnings increase

Itron Inc., the Liberty Lake-based maker of automated meter-reading technology, reported first-quarter net income of $27.1 million, or 66 cents a diluted share, up from $25.2 million, or 62 cents a share, in the year-earlier quarter. The company's first-quarter revenues increased by $66 million, or 13.3 percent, compared with the year-earlier quarter. Company President and CEO Malcolm Unsworth said, "We ended the quarter with a record backlog of $1.75 billion as a result of very strong bookings, and also improved our operating margin."

April 27 / Ambassadors posts larger loss

Ambassadors Group Inc., the Spokane-based education-based group international-travel program provider, reported a first-quarter 2011 net loss of $8.7 million, or 48 cents a diluted share, compared with a net loss of $7.5 million, or 39 cents a share, during the year-earlier period. Ambassadors President and CEO Jeff Thomas said, "We entered 2011 with a keen focus on increasing revenue for our 2011 travel programs. We remain cautiously optimistic about the travel season outlook."

April 26/ INB parent's earnings inch upward

Northwest Bancorporation Inc., the Spokane-based parent of Inland Northwest Bank, reported first-quarter net income available to common shareholders of $430,000, or 14 cents a share, a slight increase compared with net income of $417,000, or 17 cents a share, in the year-earlier quarter. Company and bank President and CEO Randall L. Fewel said, "After the loss we experienced in the fourth quarter last year, we are extremely pleased to return to profitability in the first quarter this year. The company saw improvements in many key areas of our business this past year."

April 26 / Potlatch Corp.'s net income jumps

Spokane-based Potlatch Corp. reported first-quarter net income of $7.7 million, or 19 cents a share, up from $1.2 million, or 3 cents a share, in the year-earlier period. Potlatch Chairman, President, and CEO Michael Covey said the company's wood products segment benefited from strong lumber prices in January and February, and its resource segment experienced favorable logging conditions in Idaho. Also, he said, the company's real estate segment had a strong quarter, completing the first of three phases of nonstrategic land sales.

April 19 / Sterling returns to profitability

Sterling Financial Corp., the Spokane-based bank holding company of Sterling Savings Bank, reported first-quarter net income of $5.4 million, or 9 cents a common share, compared with a net loss of $88.8 million, or $112.70 a common share, in the year-earlier period. Sterling President and CEO Greg Seibly said, "The first-quarter financial results and the return to profitability reflect the efforts to reposition Sterling that were initiated over a year ago. While we still have work to do towards the resolution of our remaining troubled assets, Sterling gained significant momentum, and we believe we are on the right track for growth in loans and core deposits, and improved earnings."