Exhibit 11.2
REGENT COMMUNICATIONS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
						Year ended December 31,
					2001	2000	1999
Gross broadcast revenues					$59,339	$48,324	$25,613
	Less agency commissions				5,594	4,217	1,759
		Net broadcast revenues			53,745	44,107	23,854
Station operating expenses					38,530	30,173	18,325
Depreciation and amortization					13,436	8,602	3,368
Corporate general and administrative expenses					4,857	4,501	2,773
	Operating (loss) income				(3,078)	831	(612)
Interest expense					(3,279)	(4,229)	(5,249)
Gain (loss) on exchange/sale of radio stations					4,444	17,504	(602)
Other (expense) income, net					(465)	860	163
	(Loss) income before income taxes				(2,378)	14,966	(6,300)
	and extraordinary items
Income tax benefit					665	0	0
(Loss) income before extraordinary items					(1,713)	14,966	(6,300)
Extraordinary loss from debt extinguishment,
	net of taxes				0	(1,114)	(471)
Net (loss) income					(1,713)	13,852	(6,771)
Loss applicable to common shares
	Net (loss) income				(1,713)	13,852	(6,771)
	Preferred stock dividend requirements				0	(629)	(5,205)
	Preferred stock accretion				0	(26,611)	(17,221)
Loss applicable to common shares					(1,713)	(13,388)	(29,197)
Basic and diluted loss per common share:
	Loss before extraordinary items				($0.05)	($0.39)	($119.69)
	Extraordinary items				0.00	(0.03)	(1.96)
	Net loss per common share				($0.05)	($0.42)	($121.65)