Pay-Fone Systems Inc. Posts 1st-Quarter Loss
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Pay-Fone Systems Inc., a Van Nuys provider of payroll-processing services, reported a fiscal first-quarter loss of $201,170, compared with a loss of $105,284 a year earlier.
The latest loss in the quarter ended Sept. 30 came on a 5% drop in Pay-Fone’s revenue, to $1.21 million from $1.27 million.
The latest quarter also preceded Pay-Fone’s decision in mid-October to name A.J. Holzherr as its new president and chief executive, succeeding Guy Lundberg, who was dismissed.
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