The Postal Service’s most recent financial report offers a mixed picture of the agency’s finances. It reported a net loss of $586 million for the quarter that ended on June 30, an improvement over a $2 billion loss recorded during the same period last year. Operating revenue was steady at $16.5 billion.
The third quarter is typically the slowest for the Postal Service due to the seasonal nature of its business.
Joe Corbett, the Postal Service’s chief financial officer, said a price increase that went into effect on certain mail products on May 31 helped mitigate the losses. So did double-digit growth in the agency’s shipping and package businesses. Shipping and package volume rose 13.4 percent. Revenue rose by $340 million, or 10.6 percent, over the third quarter of fiscal 2014.
The National Association of Letter Carriers hailed the latest report as a sign of turnaround. The Postal Service’s operating profit year-to-date stands at $1.2 billion, an increase of $200 million over last year.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Is this why it takes 3 + days to deliver a card in the same zip code?
ReplyDelete(For a fact, I know this to have happened just in the last 2 weeks.)
"Only".
ReplyDeleteThey only keep it open for jobs.
ReplyDeleteIt takes about 7 days for my mortgage payment to reach Oklahoma City and be credited to my account.I know that's stupid to mail payments,but I do not want to be completely out of touch with reality when the communication collapse comes.It will not be permanent,but even 2 or 3 days will not be easy for those who have become totally dependant on it.Everyone needs to leave a manual aspect in their life just in case.
ReplyDelete