Pay-Fone Systems Says Net Income Fell in 2nd Quarter

Pay-Fone Systems, a Van Nuys company that provides payroll services, said its net income for the second quarter that ended Dec. 31 fell 52% to $8,940 from $18,757. The company’s revenue for the period fell 3% to $1.31 million from $1.36 million a year earlier.

For the six months that ended Dec. 31, Pay-Fone said it lost $96,344 compared with a year-ago loss of $12,312 as revenues fell 7% to $2.58 million from $2.78 million a year before.