Pay-Fone’s 1st-Quarter Profits Plunge 63%

Pay-Fone Systems reported that its earnings in the first quarter that ended Sept. 30 fell 63% to $73,241, or 5 cents a share, on a 12% drop in operating revenue to $1.5 million. The Van Nuys payroll services company said its investment income in the quarter fell by $30,000, or 83%, to $6,412.