3rd-Quarter Net Income Rises at Pay-Fone Systems

Pay-Fone Systems Inc., a Van Nuys provider of automated payroll services, reported a fivefold increase in net income for its fiscal third quarter, to $275,529 from $52,574 a year earlier.

With the latest gain, the struggling company posted a profit of $30,826 for the nine months ended March 31. During the same period a year earlier, Pay-Fone lost $43,770.

The company’s third-quarter revenue increased 4%, to $1.47 million from $1.41 million a year earlier. In the nine months ended March 31, Pay-Fone’s revenue was $3.97 million, compared with $3.99 million a year earlier.