ORANGE COUNTY EARNINGS

ARV Assisted Living Inc.: The Costa Mesa operator of assisted living communities reported a third quarter net loss of $17.2 million, or $1.35 a share, which included a loss of $13.2 million from discontinued operations. The company said it plans to exit the rehabilitation therapy and apartment tax credit businesses. For the like period last year, the company posted net income of $255,000, or 3 cents a share. Revenue for the quarter ended Dec. 31 rose 28% to $26.7 million from $20.9 million.

For the nine months, the net loss totaled $22.1 million, or $1.98 a share, contrasted with net income of $867,000, or 9 cents a share, for the comparable three quarters a year ago. Revenue advanced 49% to $77.3 million from $51.8 million.

ARV also said it has formed a joint venture with Omnicare, a Covington, Ky., pharmacy firm, to provide pharmacy and clinical information services for residents of ARV’s assisted living communities. The companies signed a three-year agreement, ARV said.