ARV Expects to Report 4th-Quarter Loss

ARV Assisted Living Inc. expects to report a loss for the fourth quarter ended March 31, largely because of a $2-million restructuring charge related to the planned divestiture of its apartment operations. ARV also noted a decline in occupancy at its facilities in Beaumont, Texas. A First Call consensus of six analysts estimated the company’s fourth-quarter earnings at 4 cents a share. ARV earned $302,000, or 3 cents a share, on revenue of $12.7 million for the fourth quarter ended March 31, 1996. ARV said it plans to sell its apartment operations to concentrate on its core assisted living operation. The company operates a portfolio of 22 multifamily and senior apartments totaling 2,803 units in seven states. Separately, ARV said it opened an assisted living facility in Reno, Nev., and another in Elkhart, Ind.