ORANGE COUNTY EARNINGS
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ARV Assisted Living Inc.: The Costa Mesa operator of assisted living communities reported a third-quarter net loss of $5.6 million, or 35 cents a share, which included $2.4 million for legal and banking advisory fees, restructuring charges related to the company’s management reorganization, and overhead expense reduction. For the same period last year, the company recorded a net loss of $4.1 million, or 37 cents a share, which included a loss of $354,000 from discontinued operations. Revenue increased 36% to $34.9 million from $25.7 million.
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