Pay-Fone Earnings Rise Despite Drop in Revenue

Pay-Fone Systems, a Van Nuys payroll services company, said its earnings rose slightly to $42,823, or 3 cents a share, in the first quarter that ended Sept. 30, from $37,750, or 3 cents a share, a year earlier.

Revenue fell 5% to $1.46 million. The company said its interest and investment income increased to $23,262 in the quarter from $6,412 a year earlier.