The U.S. Postal Service posted a net loss of $297 million for the first quarter, compared to a net loss of $384 million in the prior year.
The USPS reported operating revenue for the quarter of $18.4 billion for the quarter ended Dec.31, a decrease from $19.1 billion the last year.
Overall mail volume during the quarter was 45.7 billion pieces, an 8.9% decrease from 50.2 billion in the prior year.
The postal service reported standard mail revenue of $4.7 billion for the quarter, a decline from $5.1 billion the last year.
The USPS posted standard mail volume of 21.9 billion pieces for the quarter, a decrease from 24.6 billion pieces in the prior year.
Postal management attributed these results to economic conditions and the growth of electronic media.
“Unfortunately, economic drivers that significantly affect mail volumes, such as continuing high unemployment levels and lower investments, appear to be lagging general economic recovery and last quarter’s growth in GDP (gross domestic product),” said Joseph Corbett, chief financial officer and executive vice president. “This situation, coupled with the growth in electronic alternatives to mail, creates a very challenging environment.”
