Pay-Fone Reports Income Rebound in 3rd Quarter
Pay-Fone Systems said its net income was $44,672, or 3 cents a share, in the third quarter ended March 31 compared to a loss of $78,976, or 5 cents a share, a year earlier.
Interest and investment income for the Van Nuys payroll services company rose to $23,823 from $3,922 in the quarter. Revenue rose 5% to $1.6 million.
Net income for the nine months was $69,204, or 5 cents a share, down from $446,367, or 30 cents a share, a year earlier. Revenue fell 12% to $4.7 million.
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