The U.S. Postal Service generated net income of $1.1 billion, which was $624 million over budget, during the period between Oct. 1 and Nov.30, the agency said yesterday. The information was contained in its report, “Financial & Operating Statements, November, FY 2005,” which covers the first two months of the USPS' 2005 fiscal year.
According to the report, revenue totaled $12.1 billion, which was 5.2 percent better than planned, and was up 4.4 percent from the year-ago period. Expenses of $11 billion were 0.2 percent under budget, but up 4.5 percent compared with the year-ago period.
Total year-to-date mail volume of 38.1 billion pieces increased 7.5 percent from the year-ago period. The most significant mail volume increase was in the Standard Mail category, which jumped 11.4 percent. The category with the next largest increase was International Mail, which was up 9.8 percent.
Other categories that produced volume increases in the period included: First-Class Mail (4 percent); Priority Mail (1.9 percent); and Express Mail (1.3 percent). Package Service and Periodicals generated declines of 4 percent and 0.7 percent, respectively.
Melissa Campanelli covers postal issues for DM News.com. To keep up with the latest postal news subscribe to our free e-mail newsletter DM News Daily by visiting www.dmnews.com/newsletters