U.S. Postal Service posts $1.9 billion loss, despite efficiency efforts


Eric Yoder
washingtonpost.com
May 10, 2013

Savings from efficiency efforts and increased revenues from some categories of business were not enough to prevent the U.S. Postal Service from posting a loss of $1.9 billion in its second fiscal quarter, postal officials announced Friday.

The loss, following one of $1.5 billion in the first quarter, spurred officials to once again call on Congress to enact changes the Postal Service has proposed, including switching to five-day delivery of mail while continuing six-day delivery of packages, and savings on employee health insurance, retirement and other costs.

Revenue from shipping and packages rose in the second quarter by $267 million, or 9.3 percent, compared with the prior year, while advertising mail revenues were up $96 million, or 2.4 percent. However, revenue from first-class mail, the Postal Service’s most profitable category, decreased $198 million, or 2.7 percent. Total mail volume fell to 38.8 billion pieces from 39.4 billion pieces.

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