The United States Postal Office had a loss of nearly $422 million so far this year, though it expected to earn $345 million.

During the same period, the Postal Service had revenue of $46.7 billion, off slightly from an expected $47.7 billion.

Much of the shortfall came from income from operations, which was $935 million. The USPS had forecast $1.75 billion in income from operations.

During its third quarter, first class revenue rose 0.6% over 2000’s level, from $8.36 billion to $8.4 billion, while volume fell, from just over 24 billion pieces to just under. Third-class volume also fell, from 21.16 billion items to 21.07 billion, while revenue rose nearly 5%, from $3.58 billion to $3.76 billion a year earlier.

Year-to-date first class revenue rose 0.6%, from $25.13 billion to $25.3 billion, while mail volume rose from 73.07 billion pieces to 73.33 billion pieces. Third-class volume also rose during the year-to-date over 2000’s levels, from 63.29 billion pieces to 64.80 billion, while revenue jumped 4.3%, from $10.72 billion to $11.18 billion.

“As we look toward year’s end, the July 1 modified rates for certain classes of mail will increase revenue some $200 million,” said Richard J. Strasser, chief financial officer of the U.S. Postal Service Board of Governors in a statement. He also noted that postal management plans to intensify its cost containment efforts.

The United States Postal Office had a loss of nearly $422 million so far this year, though it expected to earn $345 million.

During the same period, the Postal Service had revenue of $46.7 billion, off slightly from an expected $47.7 billion.

Much of the shortfall came from income from operations, which was $935 million. The USPS had forecast $1.75 billion in income from operations.

During its third quarter, first class revenue rose 0.6% over 2000’s level, from $8.36 billion to $8.4 billion, while volume fell, from just over 24 billion pieces to just under. Third-class volume also fell, from 21.16 billion items to 21.07 billion, while revenue rose nearly 5%, from $3.58 billion to $3.76 billion a year earlier.

Year-to-date first class revenue rose 0.6%, from $25.13 billion to $25.3 billion, while mail volume rose from 73.07 billion pieces to 73.33 billion pieces. Third-class volume also rose during the year-to-date over 2000’s levels, from 63.29 billion pieces to 64.80 billion, while revenue jumped 4.3%, from $10.72 billion to $11.18 billion.

“As we look toward year’s end, the July 1 modified rates for certain classes of mail will increase revenue some $200 million,” said Richard J. Strasser, chief financial officer of the U.S. Postal Service Board of Governors in a statement. He also noted that postal management plans to intensify its cost containment efforts.