Pay-Per-Call Phone Firm Expects Earnings Cut
Independent Entertainment Group said it expects costs associated with launching its telephone-company billing, collection and fraud-control systems will reduce the company’s first-half earnings.
The Sherman Oaks-based company is a provider of telephone lines and other services for the pay-per-call business.
Earlier this month, Independent reported a 67% decline in net income for the year ended Dec. 31, to $298,636 from $894,228 a year ago, despite a 95% sales gain, to $13.8 million from $7 million.
The sales increase was largely the result of acquisitions, including a rival pay-per-call service bureau.
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