3rd-Quarter Profit Rises at Pay-Fone Systems Inc.
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Pay-Fone Systems Inc., a Van Nuys company that provides automated payroll-processing services, said cost-cutting helped its fiscal third-quarter profit jump to $52,574 from $4,300 a year earlier.
The higher earnings came despite a 3% drop in Pay-Fone’s revenue, to $1.41 million from $1.46 million.
However, for the nine months that ended March 31, the company lost $43,770 compared with an $8,012 loss a year earlier. Its nine-month revenue declined 6% to $3.99 million from $4.24 million.
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