Pay-Fone Systems Posts Profit for 2nd Quarter
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Pay-Fone Systems Inc., a Van Nuys provider of automated payroll-processing services, reported a fiscal second-quarter profit of $16,050, compared with a loss of $43,533 a year earlier.
The earnings rebound in the quarter ended Dec. 31 came despite a 15% drop in Pay-Fone’s revenue, to $1.09 million from $1.28 million a year earlier.
For the first half of its fiscal year, Pay-Fone earned $61,265, compared with a $244,703 loss a year earlier, and its six-month revenue fell 12%, to $2.2 million from $2.5 million.
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