Wednesday, August 4, 2004

Tristate business summary



Ohio Casualty results improve

Fewer claims helped Ohio Casualty Corp. post improved results for the second quarter, the Fairfield-based insurer reported late Tuesday. The company reported net income of $32.7 million, or 52 cents per diluted share, versus $11 million, or 18 cents per diluted share for the second quarter of 2003. Quarterly revenues rose to $419 million from $409 million.

LanVision debt restructured

Blue Ash-based electronic medical records firm LanVision Systems Inc. has restructured its debt, paying off its long-term debt and accompanying deferred interest and entering into a new three-year $3.5 million credit facility with Fifth Third Bank. The move will cut second-half interest costs by about $846,000 to $109,600.

LanVision's stock closed at $3.12, up 11.8 percent.

Cinergy expects $20M pre-tax gain

Cinergy Corp. said Tuesday that it expects a pre-tax gain of $20 million as the result of communications tower owner Lattice Communications LLC's decision to sell 235 towers for $115 million to Global Signal Inc. Cinergy is one of the investors in Lattice.




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Tristate business summary
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