Postal Service sees $381M loss in March

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The US Postal Service saw a net loss of $381 million in March, bringing its fiscal-year-to-date net loss to nearly $1.9 billion, according to data filed with the Postal Regulatory Commission.

The agency shipped 15.4 billion pieces of mail in March, a 2% increase over the same period of last year. It has shipped more than 88 billion pieces of mail this year, 6% less than the first six months of its 2009 fiscal year.

The USPS has reported a net loss of $1.9 billion for the six months ending March 31. The organization is on track to lose about $7 billion this fiscal year, which will end September 30.

The USPS ran a net loss of $611 million in February, and saw a January net loss of $592 million.

The Postal Service ran a net loss of $3.8 billion for its 2009 fiscal year.

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