By John Eckberg and Cliff Peale
The Cincinnati Enquirer

Covington-based Regent Communications Inc. saw third quarter 2003 net income increase 16.6 percent, or 5 cents per share, to $2.1 million from $1.8 million, or 4 cents per share reported in the third quarter of 2002.

While the radio station company expects same-station net revenues to be flat in the fourth quarter, the firm has the financial ability to grow in the months to come by buying more stations and by taking advantage of an improving advertising market, said officials for the company, which owns 76 stations in 16 markets in 11 states.

For the third quarter of 2003, net broadcast revenues increased 14 percent to $21.4 million from $18.7 million reported for the third quarter of 2002.

"We're looking (for advertising) to pick up in the first quarter," said William Stakelin, president and chief operating officer of Regent. "We have great ratings in all our markets, seasoned, experienced management and when this economy picks up, no doubt we will be able to get our fair share."

Meanwhile, Ohio Casualty Corp. earned $17.2 million, or 28 cents per share, during the third quarter ended Sept. 30, the Fairfield-based insurer said Friday.

During the same period last year, the company lost $69.9 million, or $1.15 per share. The 2002 quarter included the impact of increasing reserves to cover construction defect claims in prior years.

Total revenue increased 3.5 percent to $417.3 million. Net written premiums increased 6.2 percent to $372.3 million.

Ohio Casualty officials said they would continue to cut costs.

E-mail jeckberg@enquirer.com or cpeale@enquirer.com