ARV Assisted Living Posts $13.4-Million 2nd-Quarter Profit

ARV Assisted Living Inc., Costa Mesa operator of assisted living communities, reported second quarter net income of $13.4 million, or 77 cents a share, which included an extraordinary gain of $15.5 million related to the early retirement of debt. That contrasts with a net loss of $15.7 million, or 99 cents a share, for the second quarter of 1999. Revenue rose slightly to $34.4 million from $34.3 million.