http://whattheythink.com/news/64833-postal-service-actions-improve-efficiency-help-lower-third-quarter-loss/
The U.S. Postal Service ended the third quarter of its 2013 fiscal year
(April 1 – June 30) with a net loss of $740 million, increasing the
year-to-date net loss to $3.9 billion. Aggressive Postal Service actions to
contain costs and increase efficiency, along with a decrease in workers’
compensation expense due to fluctuations of discount rates, prevented the
financial loss from being greater.
However, the Postal Service will not return
to profitability and long-term financial stability without passage of
comprehensive legislation to fix a business model that does not allow it to
adapt to changes in the marketplace.http://www.dmnews.com/usps-releases-3q-results-small-improvement-versus-2012/article/306882/Despite a 1% decline in total mail volume in its third quarter ended June 30, the U.S. Postal Service posted an operating revenue increase of 3.6%. But a net loss of $740 million led the agency to declare it would once again be forced to default on a $5.6 billion health benefits prefunding payment due September 3.
Both Postmaster General Patrick Donahoe and CFO Joe Corbett pointed to Congress's failure to enact postal reform as a key contributing factor to operating losses. “We need to make fundamental changes to the way we currently do business, changes that are part of our five-year business plan,” said Corbett in releasing the earnings statement. “However, without comprehensive postal reform legislation signed into law, our hands are tied and we expect multibillion-dollar losses to continue.
