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Winter Blahs Afflict Inland Northwest Stocks

By Bert Caldwell bertc@spokesman.com(509) 459-5450

The first quarter was mostly small change for investors in Inland Northwest companies.

Percentage gains or losses mostly ranged in the single digits, although five companies had losses exceeding that range.

Sterling Financial Corp. was the only area company to register a double-digit gain.

The Spokane-based thrift opened the year at $14.25 per share and closed March 31 at $16.75.

At the other end of the spectrum among financial institutions was Source Capital Corp., a commercial lender. Source slumped 19 percent, finishing at $6.25 after opening at $7.75.

In between were United Security Bancorporation, off 2 percent; Inland Northwest Bancorporation, off 4 percent; and Idaho Independent Bank, which finished even for the quarter.

The fortunes of precious metals stockholders also diverged.

Coeur d’Alenes Mines Corp. and Pegasus Gold Inc. finished up 7.4 percent for the three-month period. Coeur climbed to $16.25 from $15.13; Pegasus from $7.56 to $8.13.

Hecla Mining Co. also managed to advance, adding 15 cents per share to close at $5.88, good for a 4 percent gain.

Results for Sunshine Mining and Refining Co. and Gold Reserve Corp. were less encouraging.

Sunshine slipped almost 7 percent, from 94 cents to 88 cents per share. Gold Reserve tumbled 16 percent to $8, having started the quarter at $9.56.

Of area stocks, only Coldwater Creek Inc. had a tougher quarter. The Sandpoint mail order concern, which went public in January, has fallen almost 18 percent since. The stock went public at $16.88, but closed the quarter at $13.88.

Meanwhile, Egghead Inc. shares skidded 14 percent, from $5.25 to $4.50. Washington Water Power Co. was off almost 7 percent to $17.38, having started the quarter at $18.63.

On the plus side, Itron Inc. climbed 7 percent, from $17.75 to $19.

According to the Dain Bosworth Northwest 100 stock index, regional issues overall edged downward 1.5 percent in the quarter. The benchmark lagged the Standard & Poor 500, up 2.2 percent, and the Dow Jones industrial average, up 2.1 percent, but beat the Nasdaq Composite, which was off 5.4 percent.

The best performer among regional stocks was Data Dimensions Inc. of Bellevue. The stock nearly doubled in value.

Seattle-based Cellular Technical Services Inc., off 55 percent, led the decliners.

, DataTimes