US Postal Service Loses $384 Million
Preliminary results for the US Postal Service (USPS) indicate operating revenues of $19.1 billion for the quarter year over year, a decrease of $1.3 billion. There were 5.2 billion fewer pieces of mail handled. For example, First Class Mail volume was off by 1.8 billion pieces and Standard Mail by 3.0 billion pieces.
With retail sales, employment and investment spending projected to continue their downward spiral, the USPS is projecting volumes to be down between 12-15 billion pieces for the year. Such a decline could mean a net loss greater than 2008’s drop of $2.8 billion.
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© 2012 Penton Media Inc.
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