ARV Assisted Living Reports 3rd-Quarter Loss

ARV Assisted Living Inc., Costa Mesa-based operator of assisted living communities, posted a third-quarter loss of $2.4 million, or 15 cents a share, compared with a loss of $5.6 million, or 35 cents a share, a year ago. Revenue fell 3% to $34 million. ARV said it is operating four fewer facilities, which contributed to the lower revenue. The company attributed the narrower losses mainly to a 50% decrease in expenses.