USPS revenue and volume continue to plummet

According to preliminary financial information released today for April 2009, the US Postal Service has seen a year-over year decline of $764 million in operating revenue — an 11.9% decrease from April 2008. Government appropriation increased by $1 million from 2008 to 2009. Year-to-date USPS revenue is at just over $41 billion. It was originally forecasted to hit $45 billion, which was also the total revenue at this point last year.

Mail volume decreased by approximately 7.6 billion pieces in the same period for a decline of 14.8%. The USPS originally forecasted a smaller decline in mail, predicting only a 4.8% decline. The larger decline was seen in the agency’s Shipping Services division, down 13.7% year-to-date over last year. Its Mailing Services division also felt a significant drop, down 12.3% year-to-date.

Currently according to the unaudited numbers released the US Postal Service faces a net loss of $2.67 billion.

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