USPS Income Over Budget; Standard Volume UpThe U.S. Postal Service had net income of $2.79 billion, or $703.3 million over budget, from Oct. 1, 2003, to July 31, 2004, the agency said last week. Also, mail volume was up, and expenses are under plan.
USPS fiscal and operating statements showed that revenue totaled $57.6 billion, 0.1 percent better than planned, but down 0.3 percent from the year-ago period. Expenses of $54.8 billion were 1.2 percent under the planned budget, but up 2.6 percent versus the year-ago period.
Total year-to-date mail volume of 171.5 billion pieces increased 1.3 percent from a year ago. Standard and International mail grew 5.1 percent and 4.6 percent, respectively. But several classes saw declines. Periodicals and Express Mail both fell 3.3 percent; Priority Mail, 2.4 percent; First-Class, 1.7 percent; and Package Services, 0.1 percent.