Pay-Fone Systems Loses $49,720 in 4th Quarter

Pay-Fone Systems Inc., a Van Nuys-based payroll service company that does business as Precision Payroll, reported a loss of $49,720 for its fiscal fourth quarter ended June 30.

The loss contrasted to a profit of $79,770 in the same period a year earlier. In the latest quarter, the company’s operating revenue skidded 17% to $1.01 million, from $1.21 million a year earlier.

For its fiscal year ended June 30, Pay-Fone posted a profit of $151,015, up 37% from $110,596 a year earlier. Its operating revenue for the latest fiscal year was down 13% to $4.51 million, from $5.19 million a year earlier.