U.S. Postal Service Loss Continues in Third Quarter
The U.S. Postal Service ended its third quarter of fiscal year (FY) 2011 with a net loss of $3.1 billion, compared to a net loss of $3.5 billion for the same period in FY 2010. Total mail volume declined to 39.8 billion pieces for the quarter, compared to 40.9 billion pieces in the third quarter of FY 2010.
Postal Service third quarter revenue reflects the anemic state of the economy during the past three months. Additionally, the growth in electronic communications continues to erode core First-Class Mail volume.