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Pay-Fone Systems Reports Profit Turnaround

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Pay-Fone Systems Inc., a Van Nuys-based provider of automated payroll-processing services, reported a profit in its fiscal fourth quarter after a loss in the previous year.

In the three months ended June 30, Pay-Fone earned $21,526 while its operating revenue rose 8%, to $1.09 million. A year before, the company lost $49,720 on operating revenue of $1.01 million.

For the fiscal year, Pay-Fone reported net income of $188,966, a 25% increase from its $151,015 profit in fiscal 1993. Its annual operating revenue was $4.46 million, off slightly from $4.51 million in the prior year.

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The company attributed part of its revenue and earnings growth to its February acquisition of Concentric Computer Corp. and added that it is seeking other acquisitions or alliances.

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