Early Debt Payment Improves Ledger for ARV Assisted Living

ARV Assisted Living Inc., Costa Mesa operator of assisted living communities, reported first quarter net income of $2.6 million, or 15 cents a share, contrasted with a net loss of $4 million, or 25 cents a share, for the first quarter of 1999. The 2000 first quarter net income included an extraordinary gain of $5.6 million related to the early payment on a debt. Revenue declined 3% to $34.9 million, reflecting the divestiture of five assisted living communities.