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O.C. EARNINGS

May 08, 1997

Cypress Financial Services Inc.: The Cypress commercial collection agency reported a fiscal second-quarter profit of $1,778, down substantially from the $48,444 posted a year earlier. Revenue for the period ended March 31 rose slightly to almost $1.4 million from 1.2 million. For the first six months, Cypress Financial posted a loss of $133,642, compared with an $11,910 loss a year earlier. Revenue rose 4% to $2.6 million from $2.5 million.

Cypress collects overdue payments for clients on a contingency basis and also purchases overdue accounts receivable at a discount for its own collection account.

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