Pay-Fone Systems Loses $194,139 in 4th Quarter
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Pay-Fone Systems, a Van Nuys provider of payroll-processing services, reported a fiscal fourth-quarter loss of $194,139, compared with net income of $48,734 a year earlier.
The earnings setback came on a 13% decline in Pay-Fone’s revenue, to $1.27 million in the quarter ended June 30 from $1.46 million a year earlier.
For its full fiscal year, the company lost $202,151 compared to a profit of $37,972 the previous year, and its annual revenue fell 9% to $5.5 million from $6.02 million.
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