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Postal Service 3Q loss shrinks to $740 million
Federal Times: The U.S. Postal Service reported a net loss of $740 million for the third quarter of fiscal 2013, as a gain in operating revenue was not enough to offset a legal requirement to book expenses for “pre-funding” future retiree health care. During the same three-month period from April through June last year, the mail carrier lost $5.2 billion.
For this latest quarter, mail volume totaled 37.9 billion pieces, down about one percent from last year, although profitable first-class mail volume fell 3.4 percent, the agency said in the quarterly financial report released Friday.
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