USPS Reports $764 Million Loss for July

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he U.S. Postal Service reported a net loss of $764 million for July on revenue of $5.3 billion, according to preliminary reports filed with the Postal Regulatory Commission.

The USPS also reported mail revenue of $4.7 billion and volume of 13.7 billion pieces during the month.

Standard mail revenue was $1.4 billion and volume was nearly 6.7 billion pieces in July.

These results are consistent with the USPS’s continued losses of money and stated intentions to seek new funding sources. This includes the postal service’s controversial filing for a new rate increase with the PRC as well as its desire to reduce mail delivery to five days per week, a move that would require Congressional approval. The USPS is also seeking relief from its $5.8 billion annual obligation to pre-fund retiree healthcare benefits until 2016. http://directmag.com/postal/0809-postal ... index.html" onclick="window.open(this.href);return false;