USPS Reports $56M Loss for April-May PeriodThe U.S. Postal Service lost $56 million from April 25 to May 22, according to the organization's latest financial figures.
Richard Porras, vice president and controller at the USPS, presented the figures for Accounting Period 9 at this month's Mailer's Technical Advisory Committee meeting.
Porras said that because the USPS had expected to lose $162 million for the period, it still has a surplus of $1.45 billion in net income this year. He said the USPS had budgeted a surplus of $803 million for the year.