USPS Year-to-Date Net Income Over Budget, Mail Volume Up

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With one month left to report for the fiscal year that ended Sept. 30, the U.S. Postal Service yesterday announced net income of $2.8 billion, or $656.6 million over budget, for Oct. 1, 2003, to Aug. 31, 2004.

USPS fiscal and operating statements showed that revenue totaled $63.1 billion, 0.2 percent less than planned. Expenses of $60.3 billion were 1.3 percent under the planned budget, but up 2.1 percent versus the year-ago period.

Total year-to-date mail volume of 188.3 billion pieces increased 1.7 percent from a year ago. Standard and International mail grew 5.6 percent and 4.0 percent, respectively. But most classes saw declines. Express Mail fell 3.2 percent; Periodicals, 3.1 percent; Priority Mail, 1.8 percent; First-Class, 1.4 percent; and Package Services, 0.8 percent.

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