The United States Postal Service on Monday reported a net loss of $586 million in the quarter that ended in June, a big improvement over its nearly $2 billion loss during the same period last year. Joseph Corbett, the Postal Service’s chief financial officer, said increased package revenue and productivity gains were not enough to offset inflation and a decline in mail volume, even though operating revenue, at $16.5 billion, was roughly the same as last spring and shipping and package revenue increased by 10.6 percent. Fredric Rolando, president of the National Association of Letter Carriers, said the results represented an impressive “turnaround continuing in full force.” He added that “2015 is turning into one of the U.S.P.S.’s most impressive annual performances since the Great Recession.”þ
Source: NY Times
