Pay-Fone Systems Reports $13,115 Profit for Quarter

Pay-Fone Systems, a Van Nuys processor of payroll accounts, continued its recent financial recovery with a $13,115 profit in its fiscal fourth quarter, compared with a $451,115 loss a year earlier.

The profit, equal to a penny a share, came on a slight drop in revenue for the quarter ended June 30, to $1.44 million from $1.48 million.

For its full fiscal year, Pay-Fone reported net income of $82,319, or 5 cents a share, compared with a $57,021 loss in the previous year. Pay-Fone’s annual revenue fell to $6.11 million from $6.72 million.