USPS Narrows Losses
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.
