ARV Assisted Living Is Expecting Losses

COSTA MESA — ARV Assisted Living Inc. said it expects to post losses for the next three fiscal quarters, beginning in the period ending in June, as it absorbs the costs of opening six facilities. The company said it’s also upgrading several of the 14 facilities acquired during the last 16 months.

“Although these developments create a drag on current earnings, the expected future earnings to be generated by these facilities outweigh the effects experienced currently,” Chief Financial Officer Graham Epsley-Jones said.

The company, which operates 47 facilities for the elderly, had a loss of $1 million, or 21 cents a share, on revenue of $29.8 million in the fiscal year ended March 31, 1996. ARV Assisted Living will report fiscal 1997 results June 12.