USPS sees $382M net loss in April
The US Postal Service saw a net loss of $382 million in April, bringing its seven-month total net loss for its 2010 fiscal year to $2.26 billion.
The financial results are a slight improvement from its 2009 fiscal year, when the agency saw a net loss of $385 million in April and $2.67 billion in the first seven months of its fiscal year, according to preliminary financial information filed with the Postal Regulatory Commission. USPS executives have predicted a $7 billion net loss for this fiscal year, which runs through September 30.
The financially struggling USPS saw net losses of $381 million in March, and $611 million in February, respectively. The Postal Service ran a net loss of $3.8 billion for its 2009 fiscal year.l