The U.S. Postal Service posted a net income of $1.8 billion for the first quarter of fiscal year 2004, up from 1.01 billion last year.
Revenue for the quarter ended Dec. 31 was $18.2 billion, down $181 million from last year. Expenses were $16.4 billion, an increase of $272 million over $16.1 billion last year.
Overall mail volume dropped three-tenths of a percent to 54 billion, while deliveries rose 1.7 million to 141.8 million. Standard Mail increased by 51 million pieces or two-tenths of a percent.
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