Assisted Living Concepts Lowers Losses

For the quarter ended June 30, Assisted Living Concepts Inc. reports a net loss of $3.8 million, or 22 cents a diluted share, on revenue of $34.1 million. In the year-earlier period, the company lost $9 million, or 53 cents a diluted share, on revenue of $28.5 million.

The owner and operator of assisted living residences for older adults reports second quarter operating income of $434,000, compared to a net operating loss of $6.1 million in the year-earlier period.

For the six months ended June 30, the company is reporting a net loss of $7.6 million, or 44 cents a diluted share,on revenue of $67.3 million. The first six months of 1999 resulted in a net loss of $16.7 million, or 97 cents a diluted share, on revenue of $55.1 million.