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PAY-FONE SYSTEMS INC. ANNOUNCES REVISED YEAR-END RESULTS

 PAY-FONE SYSTEMS INC. ANNOUNCES REVISED YEAR-END RESULTS
 LOS ANGELES, Oct. 5 /PRNewswire/ -- Pay-Fone Systems Inc. (AMEX: PYF), a California-based payroll service company, announced an adjusted net income of $110,596, or $.07 per share for the year ended June 30, 1992. This adjustment is because of a recalculation of the corporation's income tax liability by its independent public accountants, which resulted in an additional $28,200 in after-tax income to the corporation. This adjustment is reflected in the current re-statement of the company's year-end operating results.
 Pay-Fone Systems Inc., founded in 1955, originated automated payroll processing by telephone and provides payroll checks and all necessary payroll tax returns and reports via client-controlled data transmitted by telephone.
 PAY-FONE SYSTEMS INC.
 Financial Highlights
 Year Ended Year Ended
 6/30/92 6/30/91
 Operating Revenues $5,185,819 $5,248,484
 Interest and investment income 67,583 114,572
 Depreciation 376,810 375,125
 Net income after provision for
 income taxes 110,596 (194,682)
 Outstanding shares 1,467,813 1,506,133
 Earnings (loss) per share(a) 0.07 (0.13)
 Total assets 5,323,533 5,441,734
 Current ratio 6.48 5.61
 Net worth 4,867,572 4,881,517
 Net book value per share 3.32 3.24
 (a) Based on weighted average number of shares.
 -0- 10/5/92
 /CONTACT: Kim Spaulding of Pay-Fone Systems, 818-997-0808, ext. 225/
 (PYF) CO: Pay-Fone Systems Inc. ST: California IN: TLS SU: ERN


JB-LS -- LA015 -- 6411 10/05/92 08:32 EDT
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Publication:PR Newswire
Date:Oct 5, 1992
Words:252
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