Arv Assisted Living

ARV Assisted Living Inc. lost a bid to fend off Emeritus Corp.'s $313-million takeover offer while litigation over the proposed acquisition is heard in California's courts, officials of Seattle-based Emeritus said Wednesday. A federal judge in California has stayed ARV's lawsuit to bar Emeritus' $17.50-a-share tender offer while a state judge decides, among other things, whether ARV's so-called poison pill provision can be used to block the offer.

Abdo H. Khoury has been named president of ARV Assisted Living Inc. in Costa Mesa. He will retain his duties as chief financial officer. Khoury had been senior vice president and chief financial officer since 1999, when he was promoted from vice president, treasury and asset strategy. Before that, he was president of ARV's Apartment division. * Kirk Redding has been appointed president of the Central Retail division of New Century Financial Corp. in Irvine.

The Costa Mesa operator of assisted-living communities posted a net loss of $1.6 million, or 9 cents a share, for the third quarter, compared with a net loss of $2.4 million, or 15 cents a share, for the third quarter of 1999. Revenue declined to $33.7 million from $34 million.

The Costa Mesa operator of assisted-living communities posted a net loss of $1.6 million, or 9 cents a share, for the third quarter, compared with a net loss of $2.4 million, or 15 cents a share, for the third quarter of 1999. Revenue declined to $33.7 million from $34 million.

Continuing its aggressive expansion strategy, ARV Assisted Living Inc. said Tuesday it has signed leases to operate two facilities in Indiana and an adult day-care center in Brooklyn, and is opening a new 162-unit facility in Beaumont, Texas. The Beaumont facility is the first of four that the company expects to open in the first five months this year. ARV has 43 facilities containing 5,482 units in eight states.

ARV Assisted Living Inc. said Graham P. Espley-Jones resigned as chief financial officer. Espley-Jones, who has held the position since 1989, will remain as a consultant with the Costa Mesa operator of assisted living communities until a successor is named, ARV said.

ARV Assisted Living Inc. said Friday that its largest shareholder--a Lazard Freres & Co. affiliate--has filed a lawsuit seeking to have the Costa Mesa company's annual meeting declared invalid. The lawsuit, filed in Delaware state court by Prometheus Assisted Living LLC, claimed ARV held the meeting improperly last summer.

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.

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.

ARV Assisted Living Inc., Costa Mesa operator of assisted living communities, said it lost $5.6 million, or 34 cents a share, for the fourth quarter. That compares with a net loss of $32.9 million, or $2.08 a share, for the fourth quarter a year ago, which included write-downs totaling $22.7 million. Revenue declined 3% to $34 million, due in part to the sale of five communities, the company said. For the year, the company reported a net loss of $27.7 million, or $1.

ARV Assisted Living Inc., Costa Mesa operator of assisted living communities, said it lost $4 million, or 25 cents a share, for the first quarter, which included a charge of $1.3 million from an accounting change. A year earlier, ARV posted a net loss of $3 million, or 19 cents a share, for the 1998 first quarter, which included $1.5 million in expenses stemming from a proxy contest. Revenue increased 31% to $35.8 million from $27.3 million.

ARV Assisted Living Inc., Costa Mesa operator of assisted living communities, reported a net loss of $32.9 million, or $2.08 a share, for the fourth quarter, which included $25.4 million in charges. A year earlier, the company posted a net loss of $17.2 million, or $1.35 a share, which included a $13.2-million loss from discontinued operations. Revenue rose 32% to $35.2 million from $26.7 million. For the year, ARV posted a net loss of $46 million, or $2.90 a share, on revenue of $128.6 million.

ARV Assisted Living Inc. said Friday that its largest shareholder--a Lazard Freres & Co. affiliate--has filed a lawsuit seeking to have the Costa Mesa company's annual meeting declared invalid. The lawsuit, filed in Delaware state court by Prometheus Assisted Living LLC, claimed ARV held the meeting improperly last summer.

* Victor C. Streufert has been appointed senior vice president and chief financial officer of ARV Assisted Living Inc. in Costa Mesa. He joined the company from National Telephone & Communications Inc., where he has served as senior vice president and chief financial officer since 1996. Before that, Streufert was chief financial officer at Pyxis Corp. in San Diego and at Denver-based American Health Properties Inc. Peter B. Morin has been appointed vice president of operations.