Workshop’s focus is area economy

Business, civic and academic leaders from around the Panhandle will gather Thursday to begin searching for ways to diversify North Idaho’s economy beyond forest products.

As part of an 18-month process, funded by a $250,000 U.S. Department of Labor grant, participants in a workshop will begin examining the strengths and weaknesses of the Panhandle’s economy. The workshop will be held from 8:30 to 11:30 a.m. at the Coeur d’Alene public library, 702 E. Front.

“We are looking for practical but truly transformative initiatives that can generate significantly more prosperity for our region,” said Vicki Isakson, the Idaho Department of Labor project manager for the Regional Innovation Grant.

To attend the workshop, contact Isakson at vicki.isakson@ labor.idaho.gov or (208) 769-1558, Ext. 3917.

SPOKANE VALLEY

Key Tronic posts gain in Q1 sales

Spokane Valley contract manufacturer Key Tronic Corp. on Tuesday reported first quarter sales of $48.2 million, up 8 percent from $44.6 million during in the same period of fiscal 2008.

Net income for the first quarter of fiscal 2009 was $400,000, or 4 cents per diluted share, up from $200,000, or 2 cents a share, in the same period a year earlier.

Jack Oehlke, company president and CEO, said the gains came from new customer programs filling in the gap left as older production projects wound down.

As a result, Key Tronic projects second quarter 2009 revenue in the range of $42 million to $45 million and earnings per share from break-even to 2 cents.

SPOKANE

Ambassadors’ Q3 income down

Ambassadors Group Inc., the Spokane-based student and professional travel organizer, reported third quarter net income of $13.3 million, compared to $22.5 million from one year earlier.

That equals a 38 percent decline, with earnings per diluted share at 70 cents, compared with $1.12 per diluted share from the same quarter one year earlier.

Company officials see those declines as related to increased travel costs and other factors.