Printer Friendly

PAYLINE SYSTEMS ANNOUNCES INCREASED REVENUES

 PORTLAND, Ore., June 29 /PRNewswire/ -- Payline Systems Inc. (OTC Pink Sheets:PAYL), a Portland, Ore.-based provider of telecommunications operator services, announced third-quarter revenues of $2,599,000. Revenues for the quarter, which ended April 30, 1993, rose 13 percent from second quarter's $2,295,000 revenues and doubled from last year's third-quarter revenues of $1,298,000.
 Although the company experienced a third-quarter net loss of $250,000, the loss is down 20 percent from last quarter's $311,000 loss and down 37 percent from last year's $394,000 third-quarter loss. For the nine months ending April 30, 1993, revenues were $8,127,000, up 147 percent from last year's $3,292,000. Net loss was reduced 46 percent to $714,000, from last year's $1,330,000 loss. Payline attributes the improved figures to a growing customer base and carefully managed costs.
 Payline has also announced application for listing of its common shares on the Vancouver Stock Exchange. The preliminary application was approved in late May, and the company should be listed sometime this summer. According to Roger Pease, president of Payline, "We look forward to benefiting from the increased visibility for Payline and from the improved liquidity of its shares."
 An eight-year-old company, Payline is one of the oldest in the telecommunications operator services industry. The company's common stock, PAYL, is traded over-the-counter on the "pink sheets" published by the National Quotation Bureau. Payline currently employs 65.
 -0- 6/29/93
 /CONTACT: Wendy Lane of Lane Advertising & Public Relations, 503-221-0480, for Payline Systems/
 (PAYL)


CO: Payline Systems Inc. ST: Oregon IN: TLS SU: ERN

JH-SB -- SE010 -- 6747 06/29/93 13:44 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 29, 1993
Words:276
Previous Article:JOY ENVIRONMENTAL APPOINTS NEW VICE PRESIDENT, SALES AND MARKETING
Next Article:BOEING ISSUES DEBENTURES
Topics:


Related Articles
PAYLINE SYSTEMS ANNOUNCES 108-PERCENT FOURTH-QUARTER INCREASE
PAYLINE ANNOUNCES SAVINGS OF UP TO 53 PERCENT ON LONG-DISTANCE CALLS
PAYLINE SYSTEMS ANNOUNCES 75-PERCENT YEAR-END REVENUE INCREASE
PAYLINE SYSTEMS FIRST QUARTER SHOWS GROWTH TREND
ADAM HAAS JOINS PAYLINE
Mellon Targets Financial Institutions For Electronic Bill Paying Service
Housing group's move on arrears.
Interactive: Payline watches rent arrears.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters