Aug. 5 / Avista's net income dips slightly
Avista Corp., of Spokane, reported second-quarter net income of $25.5 million, or 46 cents a diluted share, down slightly from $25.9 million, or 47 cents a share, in the second quarter of 2009. For the first half of 2010, the company said its net income was $54.4 million, or 98 cents a share, down slightly from $56.9 million, or $1.04 a share, in the year-earlier period. The company said it expects its 2010 consolidated earnings per share will be in the lower end of the $1.55-to-$1.75 range.

Aug. 5 / LeMaster Daniels to sell to Minneapolis accounting firm
LeMaster Daniels PLLC, one of Spokane's largest and oldest accounting firms, says it's selling its assets to Minneapolis-based LarsonAllen LLP, on Nov. 1, which will operate under the LarsonAllen name here. LeMaster Daniels says it has 12 offices, 26 owners, and nearly 300 employees, including about 80 in Spokane, and annual revenues of about $40 million. Larson has more than 30 offices, 275 principals, and nearly 1,500 employees. LeMaster Daniels says it doesn't expect the transaction to have any immediate impact on the size of its work force here.

Aug. 4 / Talbots to close store downtown
The Talbots Inc., the Hingham, Mass.-based women's fashion retailer, says it hasn't renewed its lease at 706 W. Main Avenue, in the River Park Square shopping mall, and will close its Talbots outlet there on Aug. 21 after operating for 11 years in that location. The company says it hasn't decided whether to open an outlet in another Spokane-area location.

Aug. 4 / Red Lion Hotels posts loss
Spokane-based Red Lion Hotels Corp. reported a second-quarter net loss of $100,000, or less than 1 cent a share, compared with net income of $1.5 million, or 8 cents a share, in the year-earlier quarter. The chain reported hotel revenue of $38.6 million, down from $41 million in the year-earlier quarter. Red Lion said lagging sales in the Pacific Northwest and West Coast markets, along with previously announced investments in sales, marketing, and franchising, resulted in some margin and profit erosion.

Aug. 3 / Mayor revises budget projections
Spokane Mayor Mary Verner told the City Council to expect up to an additional $2 million shortfall in this year's budget, double the projected amount, and a total shortfall of $12 million for 2011, because of declining tax revenues. The mayor said that for the remainder of 2010, the city will defer purchases, cut spending, and try to work with city unions to trim expenses. For 2011, across-the-board cuts of 6 percent to 9 percent are possible, she said.

July 29 / AmericanWest reports $7.9 million loss
AmericanWest Bancorp., the Spokane-based parent of AmericanWest Bank, reported a second-quarter net loss of $7.9 million, or 46 cents a share, compared with a loss of $10.5 million, or 61 cents a share, in the year-earlier period. The company showed improvements in nonperforming assets, net charge-offs, and balance sheet liquidity, but continued to be classified as "significantly undercapitalized" for regulatory capital purposes.

July 29/ Clearwater posts lower quarterly net
Clearwater Paper Corp., of Spokane, reported second-quarter net income of $20.6 million, or $1.75 per diluted share, compared with earnings of $75.4 million, or $6.43 a share, in the year-earlier period. The second-quarter 2009 earnings were sharply higher due to renewable-energy related tax credits and debt retirement. For the recent quarter, Clearwater posted higher net sales in both its consumer products and pulp and paperboard divisions, citing strong customer demand.